Consumer complaint received 2016-06-14
Company: BB&T CORPORATION
State: KY
Product: Mortgage
Sub-product: Other mortgage
Issue: Application, originator, mortgage broker

Complaint:
In XXXX of XXXX I seperated from a woman I had lived with for a number of years. I was offered a job XXXX. In order to buy my former partner out of the property The Bank XXXX closed my mortague and loaned my enough money to cover this buy cost. I planned on selling the property so the Bank XXXX put the amount on a yearly renewable commercial loan. I stayed XXXX for a year and then returned XXXX where I continued to reside in this house. the property is a XXXX home and a XXXX farm. The farm was on the market for XXXX years with no buyers. each years the Bank XXXX simply renewed the note. In XXXX The Bank XXXX was purchased by BB & T Banking. In XXXX when the note was due to be renewed BB & T were comfused as to what the note was for. They would not give me a local person to deal with and would not allow the individuals that had peviously worked with me on this note to deal with the situation even though they were sill working BB & T. BB & T sent this note to their employee XXXX XXXX XXXX. She tried dealing with this over the phone with me from XXXX until XXXX at which point I drove XXXX to speak with her in person. She told me I was only the second time in her career she had talked to an actual client. so I found at this point they had taken the note out of her hands and returned it to their home office XXXX. At this point I started to deal with the XXXX offices again over the phone. Still not given a local person to deal with. The offices XXXX said that they had realized that the note was not really a commercial loan but was written as a means to cover a mortage for my home. AT the end of XXXX XXXX the office XXXX told me that they had converted the note into a 30 year mortage gave me my monthly payment amount. To my suprise when i went into the bank on XXXX XXXX to make my payment the computer said they could not except the payment at this time. Upon investigation by the bank manager the XXXX said they would investigate and call me back. when I recieved a call later that day the lady said that my note had matured on XXXX XXXX and I owed them XXXX dollars. On Monday XXXX XXXX I stopped by the regional office for BB & T in XXXX XXXX and talked to the regional president of BB & T XXXX XXXX. He said he would investigate what was happening with this matter. 
In the interim while this was going on with the note last fall I applied for a mortage with Farm Credit Corporation ( FCC ), a federal government backed organization. They initally approved the loan based on all my factors, income, appraisals and so on. The appraisal ( a approx. XXXX page report with photos of comparables in a XXXX mile area of my home ) that BB & T had done on my property came back at XXXX dollars. Looking back I dont now understand why they had an appraisal of my property if they thought my loan was a comercial loan and not to cover my mortage. All was approved by FCC in letters recieved by them. FCC wanted to have their retained appraiser evaluate the farm. This apprasier compared my home with propertys XXXX miles away with no photos in a XXXX page report and valued my property at XXXX. My land alone XXXX acres is valued at XXXX in my area, not including at state of the art XXXX home with geothermal heating, no seam metal roof, XXXX composite concrete siding. XXXX master bedrooms, porcelain tiling and many more upgrades.Upon their appraisers value they then declined my loan. With FCC being associated with the government they have in effect an appeal process which I took advantage of. This of course was to no avail as the board members consisted of a FCC employee and XXXX XXXX farmers that were on the board. All of which had no conception of what an upscale house was worth. I also applied to XXXX Bank. Out of space more info contact me.

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