Consumer complaint received 2021-10-11
Company: TRUIST FINANCIAL CORPORATION
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
On XX/XX/XXXX, I called SunTrust ( now Truist ) and requested a COVID-19 mortgage forbearance. The forbearance ended on XX/XX/XXXX. On XX/XX/XXXX, three days before the end of my forbearance and spoke with one of their home preservation representatives. On this call, I discussed two things and took one action with the representative as follows : Discussion We discussed various options regarding the past due amounts ( as a result of the COVID-19 mortgage forbearance ). I specifically requested the payment deferral option. She advised me that I would be getting a payment deferral letter in the mail in 30-45 days.

I also discussed with the representative about how to go about resuming my monthly payments. She advised me not to make my payments online as the payments will be applied to the deferred amount. She said that in to have my payments applied to the current period rather than the deferred amount, I should call in my payments for 90 days until my account is moved to the current status and that it will take Truist about 90 days to do so. 
Action Taken I made a payment of {$3200.00}. I was specific that the payment should be applied to my XX/XX/XXXX, mortgage payment as well as to my escrow account to bring my escrow up to date. 

On XX/XX/XXXX, I called Truist to make my monthly mortgage payment. I paid the amount due of {$2200.00}. I once again told the representative of my discussions with her colleague on XX/XX/XXXX and requested that the payment be applied to my XX/XX/XXXX, mortgage payment. 

On Monday, XX/XX/XXXX, I learned of the low interest environment and decided to refinance to take advantage of the low interest and reduce my monthly payment. Due to the forbearance, and the apparent need to wait for 90 days, my refi closing is scheduled for XX/XX/XXXX. My current mortgage balance is {$220000.00}. I was asked to request a Release of Forbearance Release Letter from Truist. 

On XX/XX/XXXX at approximately XXXX XXXX XXXX, I called Truist to request this letter. I spoke with a home preservation specialist by the name of XXXX XXXX. She informed me that, while she can see the notes on my account of my two previous discussions with her colleagues wherein I had requested a deferred payment option and that my payments be applied to current balance, none of that was actually executed. She told me that the amounts I paid were applied to my deferred amount and the system automatically extended my forbearance period to XX/XX/XXXX. I told her that my forbearance ended on XX/XX/XXXX and I did not elect to extend it. She said it was a failure in their process and she will correct it. She told me she has put it a request for my payment deferral and that I will receive a letter in 30-45 days. I told her that I have a closing scheduled on XX/XX/XXXX and I need the letter expedited as it wasnt my fault that were where we are now. Ive been calling them for over 30 days to resolve this and they havent done anything about my calls. She told me shell have a team lead or manager call me in 24-48 hours to resolve the issues. 

On XX/XX/XXXX, 48 hours after I last called, no one had reached out to me. So, at XXXX XXXX XXXX, I called Truist again. This time I spoke with a home preservation specialist by the name of XXXX XXXX. I proceeded to recount the previous discussions I had with his teammates on XX/XX/XXXX, XXXX and XXXX. Once again, he told me that while annotations were made on my account of the discussions held, ( 1 ) the matter was never escalated to a team lead or manager, and ( 2 ) a request for deferred payment has not been made on my account even though I was clearly assured on XXXX that it has been taken care of. I once again made three requests : ( 1 ) Deferred payment for the past due amount during the deferral period from XX/XX/XXXX to XX/XX/XXXX, ( 2 ) Apply the payments I made on XX/XX/XXXX and XX/XX/XXXX to my current balance, and ( 3 ) Expedite issuance of a release of forbearance letter ( or whatever letter I need to show Im current again ) before my XX/XX/XXXX closing. 

He told me to call back on Monday to confirm that the three items I requested has been taken care of. 

On XX/XX/XXXX, at XXXX, I called again. I spoke with a representative by the name of XXXX with Employee ID XXXX. She could not confirm the above for me. She told me she's with the mortgage payment department and advised me to call the home preservation department. I told her I called XXXX, which is the home preservation department 's number on the letter I received. She confirmed I dialed the right number and was perplexed as to why the phone was forwarded to her. She forwarded me to the home preservation department. I waited for 30 minutes and no one picked up. I dropped and dialed again. I was on hold for more than one hour to no avail. 

At this point, I am at a loss as to what to do. I keep receiving a letter from Truist advising me of my options ( see attached ). However, I advised them of my option on XX/XX/XXXX, and again on XXXX, and they just are not moving my request forward. This is a complete nightmare and I need someone to help me intervene to get this resolved. I have done everything Im supposed to. I have followed every instruction they gave me, but theyre just not doing anything with the information Im giving them. Currently, Im in a 2.75 % 15-year fixed conventional mortgage. I was able to get a refi at 2.125 % 15-year fixed. Closing is scheduled for XX/XX/XXXX. That's 30 days away. This will result in a savings of over {$50000.00} for me in interest payments. If I miss this opportunity because of failure on Truists part, it will be financially detrimental to me as I would have lost those savings. Please help me! Is there anything you can do to get them to take this seriously and help me resolve this so I can close on XX/XX/XXXX? This also helps Truist as it will receive full payment of the mortgage balance in the refinancing.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief