Consumer complaint received 2021-05-05
Company: TRUIST FINANCIAL CORPORATION
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Hello, RE : XXXX, SunTrust This loan finances a condominium unit. I am complaining due to ineffective servicing of my mortgage loan and subsequent harassment for additional payment of flood insurance which is not due as my XXXX provides this coverage and it has been continuous. 

This loan was subject to a modification which was signed and notarized on XX/XX/XXXX. However, SunTrust did not process the modification until on or about XX/XX/XXXX and did not advise Borrower of finalization until the letter dated XX/XX/XXXX. During this XXXX XXXX XXXX XXXX month period before the modification was finalized by SunTrust, Borrower was unable to pay SunTrust electronically, however Borrower still made all payments of principal, interest and tax timely. Borrower in all cases, initiated calls to SunTrust to manually withdraw funds from his bank accounts. No insurance escrow was due per the terms of payment and Borrower was not aware of any escrow due until the letter from SunTrust dated XX/XX/XXXX and received XXXX days later. 

The XXXX is required to provide property and flood insurance for this condo unit and has provided continuous coverage. Borrower elects to purchase additional unit-owners coverage for property and flood and has provided these to SunTrust. 
The XXXX had flood insurance through XXXX effective XX/XX/XXXX XXXX. However, the XXXX  elected to replace the flood insurance XX/XX/XXXX with a multi-lines policy effective through XX/XX/XXXX. Borrower uploaded the XXXX XXXX  certificate evidencing flood insurance with SunTrust through XXXX  and received confirmation on XX/XX/XXXX. Due to inefficiencies with SunTrust, described further below, Borrower updated mycoverageinfo.com again on XX/XX/XXXX XXXX XXXX XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. Borrower also sent emails attaching said certificate on XX/XX/XXXX and XX/XX/XXXX. Finally, Borrower also faxed the original XXXX XXXX certificate and the XXXX renewal certificate to the Escrow department on XX/XX/XXXX and XX/XX/XXXX and has confirmations of the same. 
The multiple uploads, emails and fax confirmations of continuous insurance coverage were to no avail. 

On XX/XX/XXXX, SunTrust notified Borrower by letter that the forced share flood insurance policy they purchased had been cancelled. However, on XX/XX/XXXX, Borrower received another letter from SunTrust stating that they had purchased flood coverage. SunTrust had ignored the XXXX certificate showing flood coverage uploaded on their website when they purchased said policy with XXXX XXXX in the amount of {$6200.00}. After the uploads to the website on XX/XX/XXXX and XXXX, Borrower called SunTrust and was informed that once the XXXX policy was reviewed it would be cancelled. Borrower had not heard anything of this issue until again XX/XX/XXXX. 

On XX/XX/XXXX, by Escrow statement dated XX/XX/XXXX Borrower was informed that his new monthly payment was {$2500.00} from {$1200.00} and that he owed payment for the purchase of the {$6200.00} flood forced share flood policy. The next day XXXX called the SunTrust XXXX department and again uploaded the XXXX certificate and began a new series of uploads, emails and faxes as described above as the escrow department would not confirm that the XXXX insurance was received let alone accepted by SunTrust. At this time the collections department of SunTrust sprung into action notifying Borrower of a late fee and began the phone calls. Borrower received XXXX calls from SunTrust since XX/XX/XXXX in most cases explained the situation to the caller who advised me that I owe what I owe and escrow is another department. 
Borrower had made all required payments including XXXX. 

The insurance broker for the XXXX, XXXX XXXX, has offered to deal directly with the SunTrust escrow department. 

The purchase of forced share insurance for flood has been a pattern with SunTrust, although not at the current level. SunTrust bought and cancelled flood insurance in XXXX, XXXX and prior. 

Regards,

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