Consumer complaint received 2022-08-01
Company: TRUIST FINANCIAL CORPORATION
State: NC
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
HELOC application with Truist Bank XX/XX/XXXX : I applied for a HELOC on XX/XX/XXXX and provided all requested information to the credit XXXX, XXXX XXXX. 
XX/XX/XXXX : I requested a full appraisal on my property, because XXXX tend not to provide the most appropriate value of property. I made the request to credit XXXX, XXXX XXXX. She indicated that they do not order appraisals unless it's needed. However, I insisted on a full appraisal. 
XX/XX/XXXX : A prelimiary approval was provided to me, in the amount of {$270000.00}. 
XX/XX/XXXX : I spoke with XXXX XXXX to inquire about a Final Approval and the full appraisal. I informed her that I have been working as an Internal XXXX for 18 years and I understood the process. She informed me that all things were moving forward. 
XX/XX/XXXX : I inquired about closing, with XXXX XXXX. 
XX/XX/XXXX : XXXX XXXX informed me of the banker who would be closing the loan. 
XX/XX/XXXX : I requested an update. I did not receive a response. 
XX/XX/XXXX : I confirmed that my wife would be signing closing documents. 
XX/XX/XXXX : I asked XXXX XXXX if a closing date was set yet and I inquired about the full appraisal. I did not receive a response. 
XX/XX/XXXX : I inquired again with XXXX XXXX regarding the closing date. XXXX responded that no closing date has been set. 
XX/XX/XXXX : I reached out for an update regarding the full appraisal and the closing date. No response from XXXX XXXX. 
XX/XX/XXXX : I reached out again regarding the full appraisal and the closing date. No response from XXXX XXXX. 
XX/XX/XXXX : I reached out again regarding the full appraisal and the closing date. XXXX XXXX responded back indicating that the XXXX value was too low to meet the original preliminary amount of {$270000.00} and a counter offer with a lower amount has been granted. Now she indicates that a full appraisal is required or accept the counter offer. 

Below is a copy of the email chain from today 's correspondence, from XXXX XXXX, the branch XXXX. I have also called ( left voicemail ) and email XXXX XXXX, the regional XXXX. Her contact number is XXXX. Also, below is a list of all email copied on my correspondence. 

XXXX XXXX : XXXX XXXX XXXX : XXXX XXXX XXXX : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : XXXX p.s. I went through the same situation with XXXX XXXX last summer in XX/XX/XXXX. Basically, she neglected to order a full appraisal and ordered an XXXX, in which the value came in {$70000.00} lower than the full appraisal. This is the primary reason why I do not trust AVMs and ALWAYS, ALWAYS, request full appraisals. 


Re : HELOC - XXXX XXXX [ -Private- ] XXXX XXXX XXXX XXXX XXXX you for your response. 

You neglected to acknowledge that I requested a " full appraisal '' on XX/XX/XXXX and there were several emails sent last week inquiring about the " full appraisal ''. 

My question is, why didn't XXXX order the " full appraisal '' on XX/XX/XXXX, as requested- as opposed to rejecting my request to order the " full appraisal ''? It has been a total of 19 days since I first requested a " full appraisal ''. Can someone explain to me why my original request for a " full appraisal '' was rejected? To my knowledge, the rejection does not seem to be warranted, considering there are no prohibitions to full appraisals. Am I missing something here? 

thank you, XXXX XXXX From : XXXX, XXXX XXXX Sent : Monday, XX/XX/XXXX XXXX PM To : XXXX XXXX ' XXXX ; XXXX XXXX XXXX XXXX ; XXXX, XXXX XXXX Cc : XXXX, XXXX XXXX ; XXXX XXXX, XXXX XXXX XXXX XXXX RE XXXX XXXX - XXXX XXXX [ -Private- ] Data Risk Classification : [ -Private- ] Good Afternoon, Thank you for reaching out directly with your concern. I did see that XXXX XXXX XXXX has reached out to you today about full appraisal options ; I have attached a copy of her response above. For any servicing needs please reach out to your loan originator, XXXX XXXX XXXX. I am sure XXXX XXXX will provide all her managers information to you directly. 



XXXX XXXX Truist Bank XXXX XXXX Bank Senior Relationship Banker IV XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX : XXXX XXXX From : XXXX XXXX XXXX Sent : Monday, XX/XX/XXXX XXXX XXXX  To : XXXX XXXX XXXX XXXX ; XXXX, XXXX XXXX Cc : XXXX, XXXX XXXX ; XXXX, XXXX XXXX XXXX : XXXX : HELOC - XXXX XXXX Dear XXXX and XXXX XXXX XXXX XXXX XXXX, I sent the XXXX XXXX XXXX XXXX, to XXXX XXXX and XXXX would like to request the following : 1 ) a call from XXXX 's XXXX and XXXX ) someone to order a full appraisal " as XXXX requested on XX/XX/XXXX. 



See email below. 



XXXX - XXXX asked you to order a full appraisal report on XX/XX/XXXX because I knew it was necessary ( see email correspondence below ). I explained to you that I have been a bank XXXX for 18 years now and I clearly understand this process. Please, have your XXXX to call me at XXXX because the way you are treating me is very rude, unprofessional, and unfair. 



I have asked you several times to 1 ) order a full appraisal and 2 ) provide me with your XXXX 's contact information and you refuse to do this. 



XXXX, is it possible for you to provide me with XXXX XXXX 's XXXX 's contact information? 

thank you, XXXX XXXX # secure # Time Sensitive : Your Application with Truist Bank # XXXX : XXXX, XXXX : XXXX : XXXX XXXX XXXX  Someone gets assigned to that task and they take care of that. If they need to contact you for that they will. We do not do a full appraisal unless requested or needed. 





XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX # XXXX XXXX, FL XXXX : XXXX XXXX The information transmitted is intended solely for the individual or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of or taking action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete From : XXXX, XXXX Sent : Mon, XXXX XX/XX/XXXX XXXX XXXX To : XXXX Cc : XXXX, XXXX Subject : # Secure # Comment Made on XXXX XXXX XXXX XXXX XXXX XXXX ] Data Risk Classification : [ -Private- ] Hello XXXX, The value returned in the amount of {$590000.00}, and the estimated value input at application was {$630000.00}. 

At this point, the current line amount will be countered or you may want to do a full appraisal. If we do then the cost of the full appraisal will be paid by the client and not the bank, but that is an option that you may decide on. 

I also need you to confirm that you will be signing as XXXX XXXX XXXX. 



Once you respond to these items, give me 48 to 72 hours so that I may reach backout. 



Thanks, XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX # XXXX XXXX, FL XXXX : XXXX XXXX From : XXXX XXXX XXXX XXXX : Wednesday, XX/XX/XXXX XXXX XXXX  To : XXXX ' XXXX Cc : XXXX, XXXX XXXX Subject XXXX RE : # Secure # Comment Made on XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX set date on XXXX. We will reach out to you once we are ready to schedule a date. 



Thanks, XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX # XXXX XXXX, FL XXXX : XXXX XXXX From : XXXX XXXX XXXX Sent : XXXX, XX/XX/XXXX XXXX PM To : XXXX XXXX XXXX XXXX XXXX : XXXX, XXXX XXXX XXXX : XXXX : # Secure # Comment Made on XXXX XXXX XXXX XXXX XXXX XXXX, Do XXXX have XXXX XXXX XXXX for the closing yet? Please, respond if you get a spare moment. 

thanks, XXXX From : XXXX, XXXX Sent : XXXX, XXXX XX/XX/XXXX XXXX XXXX To : XXXX Cc : XXXX, XXXX Subject : # Secure # Comment Made on XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX confirm that XXXX XXXX XXXX will be in present at the closing to sign the DOT. 

Thanks, XXXX XXXX XXXX XXXX XXXX XXXX Florida Hope Strategy Advisor NMLS # XXXX XXXX, XXXX  XXXX : XXXX XXXX The information transmitted is intended solely for the individual or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of or taking action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer. 





The information transmitted is intended solely for the individual or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of or taking action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer. 





From : XXXX XXXX XXXX Sent : Monday, XX/XX/XXXX XXXX PM To : Consumer Loan Decision XXXX Cc : XXXX, XXXX XXXX Subject : Re : HELOC - XXXX XXXX Thank you for your response. 



Please, include XXXX XXXX as well. I would like to keep her XXXX in the loop in the event this becomes an escalate situation, given that all requested documents were provided to XXXX on XX/XX/XXXX. 



Thank you, XXXX Sent from my XXXX On XX/XX/XXXX, at XXXX PM, Consumer Loan Decision XXXX wrote : Good Afternoon XXXX XXXX, I hope all is well! I have added your XXXX XXXX XXXX XXXX XXXX to this email for her to follow up with you. XXXX and have a great day! 



XXXX, Please reach out to XXXX XXXX today. Thank you in advance! 







Consumer Loan Decisions XXXX From : XXXX XXXX XXXX Sent : XXXX, XX/XX/XXXX XXXX AM To : XXXX XXXX XXXX XXXX Subject : XXXX : XXXX - XXXX XXXX XXXX morning, I am reaching out to you for assistance/guidance regarding a HELOC transaction, currently in process - considering the current Credit XXXX, XXXX XXXX XXXX XXXX unresponsive and I am unable to contact her XXXX. 



If possible, can someone, please, provide me with an update regarding this transaction? All requested information was provided to XXXX XXXX, on XX/XX/XXXX. 



Please, feel free to contact me at XXXX at your earliest convenience. 



Respectfully, XXXX XXXX From : XXXX XXXX Sent : Monday, XX/XX/XXXX XXXX AM To : XXXX, XXXX XXXX ; XXXX XXXX ; XXXX XXXX Subject : HELOC XXXX XXXX XXXX Good morning, XXXX Hope you are doing well XXXX 

I am reaching out to you for assistance/guidance regarding a HELOC transaction, currently in process - considering the current Credit XXXX, XXXX XXXX XXXX XXXX unresponsive and I am unable to contact her XXXX. 



If possible, can someone, please, provide me with an update regarding this transaction? All requested information was provided to XXXX XXXX, on XX/XX/XXXX. 



Please, feel free to contact me at XXXX at your earliest convenience. 



Respectfully, XXXX XXXX RE : # Secure # Comment Made on XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Cc : XXXX, XXXX Sent : XX/XX/XXXX XXXXXXXX XXXX Good morning XXXX, XXXX would like to ask if you could provide me with an update, today, regarding my appraisal and please copy your XXXX on all correspondences to ensure they are aware? 

Thank you, XXXX XXXX : XXXX, XXXX Sent : XXXX XXXXXXXX XX/XX/XXXX XXXX XXXX To : XXXX Cc : XXXX, XXXX Subject : RE : # Secure # Comment Made on XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX set date on closing. We will reach out to you once we are ready to schedule a date. 



Thanks, XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX # XXXX

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 explanation