Consumer complaint received 2015-10-09
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: BB&T CORPORATION (TX)

This is a formal complaint against BB & TI am a victim of mortgage, lending and appraisal fraud. 
At the request of the Federal Reserve I am filing a formal complaint against Branch Banking and Trust Company ( BB & T ). 
XXXX XXXX, parent of XXXX XXXX XXXX XXXX ( XXXX ), was closed down on XXXX XXXX, XXXX. XXXX XXXX XXXX Bank declared bankruptcy after an FBI raid & investigation into fraud. After the FBI put XXXX and parent company XXXX XXXX under for deceptive trade violations, my mortgage was sold to BBT. 
XXXX were the residential mortgage loan originators and they sold my loan to BB & T after the FBI forced them into bankruptcy. The residential mortgage that was transferred to BB & T has left me with a toxic asset that I will never be able to recover from. 
The underwriters at XXXX induced me into signing a consumer residential mortgage transaction by fraudulently allowing an appraisal to be submitted that was over valued by XXXX due to functional obsolescence and diminished site utility. As a result of the numerous violations that were committed by XXXX I now am forced to sell by home as a XXXX bedroom house instead of a XXXX bedroom home as appraised and underwritten for my collateral. 
I tried to seek a judicial remedy in Texas but the Statute of Limitations has prevented me seeking recovery. XXXX and XXXX XXXX have been put into bankruptcy by the FBI, my home was fraudulently appraised, BB & T is in possession of my note and I need help! 
In XXXX I bought a For Sale by Owner property described as a XXXX acre, XXXX square foot, XXXX Bedroom home for XXXX. The asking price for the home was XXXX. I made an offer of XXXX based on the public record tax evaluation of XXXX. The offer was rejected and a contract was established half way at XXXX. 
My median credit average of XXXX out of XXXX applied for financing and a good faith estimate was issued by XXXX to include an inspection and appraisal. The property appraised at XXXX Cost Approach, XXXX Sales Approach, and a final offer of XXXX was established. 
A retroactive appraisal and appraisal review were performed in XXXX to verify the collateral I signed and contractually committed too. The XXXX reports discovered that the property should have appraised at XXXX. The XXXX over inflated valuation has left me with a toxic asset that has forever ruined my financial stability and destroyed my credit rating. TBW violated both federal and state laws designed to protect borrowers from illegal appraisal practices, and without the intervention from the CFPB I will forever be burdened with a debt that I can not possibly repay in this lifetime. 
I have filed complaints against XXXX for the mortgage and lending fraud they committed against me with the FDIC, CFPB, XXXX, FHFA, FHA, OCCC, Texas Mortgage Banking Association, and the Attorney General. 
Not one of the agencies that are set up to safeguard my consumer rights have been able to help me. I am getting shuffled from one agency to the other and need to find help to address this hardship. The most recent request from the Federal Reserve has directed me to file a complaint with the CFPB against BB & T. 
I would not presume to know the various channels available to anyone at the CFPB for making either direct or indirect subtle inquiries into federal and state fraud claims on my behalf. However, given the MASSIVE negligence surrounding my concerns and complaint, combined with the complacency from all the agencies I have reached out to, the very least the CFPB can do is to provide a measure of support that will give me some perspective of use for these organizations.