Consumer complaint received 2016-12-27
Company: SUNTRUST BANKS, INC.
State: FL
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
I got the letter from the underwriters that they are rejecting my application for a mortgage refinance to 3.7 %. XXXX XXXX one of the VP 's solicited my wife and myself over a 18 months ago to refinance at a lower rate, now that interest rates are going up I feel this is just a flimsy excuse to get me to go somewhere else since you no longer want to carry paper at 3.7 %. XXXX XXXX like XXXX XXXX misled me on the qualifications for going with a VA loan, the qualifications are almost identical, in many cases even easier under VA government backed loan. This XXXX about a blue tarp on my roof and a XXXX that never hit XXXX Florida ( I live in XXXX Florida XXXX miles from hurricane XXXX center ) is just smoke used by your underwriters to deny me a loan, probably because of my age. Like I have told you more than 5 or 6 times, the tarp was put on my roof by a company for preventative purposes, no change or damage since I am going after my insurance company for raising my rates. I also feel my application was rejected because I filed a complaint with FTC because Suntrust has not been truthful with me about processing my loan and eligibility with VA loan which I earned with not only XXXX years of service, but XXXX long months in the XXXX while many of you were setting home on your XXXX safe and sound while we were doing the heavy lifting. Now remember Suntrust solicited me to refinance I did not solicit Suntrust, I have put in over a year and a half of time and effort in trying to secure a loan on a property that is only borrowing less than 40 % to equity and all other qualifying factors, debt to equity XXXX scores that average almost XXXX fall under guidelines for approval under any other company who offers mortgages. As a matter of fact I have lost the ability now to seek out a better rate because you are too cheap or too lazy to re-evaluate my roof, I provided the appraisal at my expense as you required, now I would like to have my money back, and money for inconveniencing me for more than a year and a half would only be fair. When I first came to you I asked you to lock me in at 3.5 % which was prevailing rate at the time in XXXX 2016, you failed to do that. I later agreed to except the 3.7 % to move things along. I had already been approved by XXXX XXXX at XXXX all the way back in XXXX 2016 and declined because I thought it might be better to stay with the mortgage company I had been with for over 20 years, 20 years I never missed a payment. You know what is even more all the bad loans and assets your XXXX based bank wrote, all the TARP money you borrowed at the tax payers expense, you just simply go back to the well and the XXXX with the customers like my wife and myself who have been customers for over 20 years get jerked around this is nothing short of perplexing, downright evil.

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