Consumer complaint received 2017-03-13
Company: Synovus Bank
State: GA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Application, originator, mortgage broker

Complaint:
We started this process in XXXX XXXX with XXXX Georgia. It was XXXX XXXX before they had the paperwork ready for us to start building. Our builder was finished with the house in XXXX XXXX. The bank did not get the paperwork ready for us to sign the final closing until XXXX XXXX. This whole process was painful and a nightmare. XXXX XXXX cost my family more money than expected because of his failure to provide the right documents timely, higher interest rate for failure to close the loan when my builder was finished and then threated by his superior XXXX XXXX for money after the closing to fix their mistakes on the paperwork. Below I have listed a few of the things we had to deal with that we should n't have. 
XXXX XXXX XXXX I started pressing when we could start, was told waiting on appraisal, Appraisal was sent XXXX/XXXX/XXXX. 
XXXX XXXX XXXX - I was told everything should be sent to underwriting. 
XXXX XXXX XXXX XXXX XXXX requested pay check stubs for underwriting, I have emails where they were sent XXXX/XXXX/XXXX at XXXX, I resent them. 
XXXX XXXX XXXX - I ask again when could we start, XXXX claimed underwriting has the file it would probably be XXXX XXXX. 
XXXX XXXX XXXX - XXXX XXXX ask for check stubs again XXXX XXXX XXXX - XXXX XXXX stated that underwriting had provided prelim approval, that builder could move forward. 
XXXX XXXX XXXX - XXXX XXXX ask for us to sign some documents, he also what attorney we would like to use to close the loan. I replied XXXX/XXXX/XXXX at XXXX XXXX XXXX XXXX XXXX XXXX XXXX - I ask any idea on closing? Date and time? 
XXXX XXXX XXXX - XXXX XXXX stated he was working on getting it scheduled with the attorney. Then he sent right back the file was sent for final approval on Monday, and they are on a 4 day turn time. 
XXXX XXXX XXXX XXXX XXXX emailed underwriter has approved the loan and the MI should have approval tomorrow, are you ok for Friday next week to close? 
XXXX XXXX XXXX I ask could he get us the information and close on Monday and why I could n't use Attorney XXXX? 
XXXX XXXX XXXX XXXX XXXX stated the federal law requires the package to us 3 business days in advance. I checked with the attorney and they will have title to us on Monday. 
XXXX XXXX XXXX email from XXXX XXXX stating she worked with XXXX XXXX that our loan was clear for closing on XXXX XXXX, XXXX at Attorney XXXX XXXX XXXX XXXX. I followed up with that was fine that we had been ready since XXXX since we started this process in XXXX XXXX. I also ask why I could n't use XXXX XXXX that I had chosen earlier. 
XXXX XXXX XXXX XXXX Closing XXXX XXXX XXXX contacted builder to start The above is the back and forth emails that I have printed out ( o. I will summarize the rest to follow. 
-We were told by XXXX XXXX that once our builder finished we could close our loan. The builder was finished in XXXX, XXXX. 
-During these months we received other people 's paperwork through email ( from XXXX XXXX ), which contained their personal information. 
- Our file got corrupted - we were n't told until after we called and emailed XXXX XXXX several times to find out why we could n't close. XXXX XXXX stated that the bank changed to a new program and our file was the only file that got infected. XXXX XXXX always - We had to call XXXX XXXX to get the process rolling so we could finally close. We requested that he handle all of our paperwork from then on. We did not want to have any more communication with XXXX XXXX. 
- We received a call from our insurance company that they were going to cancel our house insurance because, they had not received payment from the bank. We had to pay all the insurance with the exception of {$70.00} out of pocket. 
-Keep in mind we were paying interest at a higher percentage for the construction loan. We were not allowed to start paying down on our principal even though the house was complete

Company response to consumer: Closed with explanation