Consumer complaint received 2023-05-23
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: TRUIST FINANCIAL CORPORATION (AR)

On XX/XX/XXXX my home was heavily damaged by a tornado. I sent, via XXXX overnight on XX/XX/XXXX, XXXX insurance checks totaling over $ XXXX to Truist Bank, my mortgage holder, for endorsement. They received those checks on XX/XX/XXXX. Beginning On XX/XX/XXXX I called multiple times and chatted online with representatives that would give me no information on the status except it will be processed. Multiple people gave me multiple dates that unfortunately were not true. On XX/XX/XXXX I received a letter back along with the checks NOT ENDORSED, stating I have to endorse them first and then they will not be endorsing or sending my checks back, but will be deposited in escrow instead. Someone between XX/XX/XXXX and XX/XX/XXXX should have told me that. I endorsed the checks and returned them to Truist on XX/XX/XXXX via their prepaid XXXX XXXX air envelope. They received my endorsed checks on XX/XX/XXXX. Since then, I have had multiple conversations with Truist representatives that have been no help whatsoever. No one can tell me how much they intend to send me, except they will only send me 33 % of my money or $ XXXX or some other amount because they really aren't sure what the amount will be. Even though I only owe $ XXXX on my mortgage, they intend to hold more than I even owe, which should be unlawful in my opinion. I have been told multiple times it will process in XXXX business days only to call and find out that didn't happen. Then I was told I would receive a check of an unknown amount by XX/XX/XXXX. On XX/XX/XXXX I called Truist because the online tool didn't show anything had been processed. On that call I was told it had not started processing, but they would submit it yet again for " processing '' and I was told I " should '' have a check of an unknown amount late in the week of XX/XX/XXXX. I called yesterday, XX/XX/XXXX to check on the status because the online tool still doesn't indicate anything has moved. Much to my dismay, although not surprised, the XXXX told me the processing of a check of an unknown amount has been cancelled. He read some notes that lead him to believe it MIGHT be because they MIGHT be changing the amount of the check, although he has no idea what the amount was to begin with. He said it sounds like some check in some amount might start processing by Wednesday, XX/XX/XXXX, although he really didn't know for sure. I am beyond frustrated that a Bank of this size can treat consumers in this manner and that it is lawful. I have made enough phone calls, online chats, etc. and have asked a number of times for someone that I can talk to that would help get me my money and resolve this matter. While I continue to get the runaround, mother nature continues to pour into my home because Truist has no sense of urgency or concern for consumers in a disaster situation. I just keep being told, this is our protocol, over and over again. This is the worst protocol ever. I may even lose my contractor that I have committed to fixing my home. I have no faith that I will actually see any of my money this week, and fully expect come next week I will have to start this horrible " process '' again of them holding my money and giving me the runaround. The fact that they can even control any of this should be unlawful. I have even signed an Affidavit stating that any insurance money I receive is to be used to fix my home, yet they are allowed to control my money and divvy out to me whatever they please in little increments, causing the renovation of my home to extend by who knows how many months. Also, I was told when I am about to run out of MY money, then I have to contact them and request an inspection. The protocol for that process is also a nightmare. I was told once I request an inspection, an inspector would contact me in 7-10 business days to get an inspection on their calendar. Then after the inspection the inspector has 2 business days to submit a report to Truist, then Truist has 2 business days ( which you can bet is a lie ) to review the report. Then in another 7-10 business days they would start " processing '' a partial payment to me to start more work. This process is unacceptable. By Truist 's process my home just sits there and further rots for what may go into XXXX if they continue this horrible process.