Consumer complaint received 2017-07-17
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — 
Company: SUNTRUST BANKS, INC. (NC)

I was pre-qualified on  XX/XX/XXXX  and with much excitement, began the search for my new home. I went Under Contract on  XX/XX/XXXX  with a Closing date of  XX/XX/XXXX . I submitted all the documents requested from underwriting. The LO and Underwriter both left me with the understanding that everything was going well. The Agent and Transaction Coordinator both sent numerous emails for loan updates that for the most part were ignored!? On  XX/XX/XXXX , my Realtor again reached out to   XXXX   XXXX  /Suntrust to confirm delivery of the CD and a time for closing. The following day on  XX/XX/XXXX  eight days before my scheduled closing, I received a notifications with 5 new/additional and/or redundant conditions required to close my loan. This was the first indicator from anyone that any additional documentation was needed for a Clear to Close. On  XX/XX/XXXX , my file was submitted to   XXXX   XXXX  , a DPA program, for the first time. My Realtor had informed the LO early in the transaction that the paperwork needed to be sent in immediately.  XXXX  had been waiting on the file since  XX/XX/XXXX  when the Home Inspection was performed. The Realtor submitted an initial request for the Home Inspection and funding on  XX/XX/XXXX . The LO was fully aware that the processing for the DPA with  XXXX  requires a 10 day minimum to process the loan. The LO also submitted my   XXXX   application incorrectly making me a single person household as they did not include my son as a dependent. This error created a deficiency in my loan amount from  XXXX . This created another closing delay and pause for underwriting in providing my final approval.
Over the next couple of weeks, there was extremely poor communication with ambiguous answers. My Closing Team made several attempts to get clarity of the delay and were repeatedly giving the run around or nothing at all. On  XX/XX/XXXX  after the 2nd unexplained missed Closing,   XXXX   sent an email stating that she would be happy to transfer the file to another Lender. I went and spoke with another Lender and learned of all the repetitive costs and time delays this would cost and I was advised to force them to make a decision. At this point, Suntrust had not denied the loan nor indicate any reason to deny or detain this loan. In what appeared to be a last effort to dissuade me, they asked me to present them proof of filed Tax Extension for 2016. The LO and I had discussed what was needed and I followed her instructions and filed an extension at the end of  XXXX . I want to be clear as to where I believe the problem was ; it was not in the request for proof but for the asking for it after 2 botched closing dates and asking for it after approximately 60 days into the transaction. I feel that due diligence was not done. They asked for a very specific document from the IRS and indicated that no other document would do. I inquired with LO if an alternative form of documentation could be provided. There was no response for 3 days. Once provide with the documentation my Closing was still delayed for another 2 weeks. On Friday  XX/XX/XXXX my Realtor sent an email to Suntrust where she indicated that she was aware of their propensity to be choosy about the loans they approve. She mentions unfair lending practices. The LO immediately responds that she is forwarding her email to her Supervisors and they would be handling it. Needless to say, on Monday XX/XX/XXXX  at  XXXX  we received an email with a Clear to Close! These must have been new Supervisors because based on numerous emails ; they had been involved all along??!!
I have now closed on my home and thanks to a strong team ; I was able to endure what I believe to have been unfair lending practices levied against me. I am knowledgeable of other persons buying experience and none parallel the discrimination and lack of professionalism shown to me. I am hoping the story of my experience helps another First Time Home Buyer!