Consumer complaint received 2021-03-22
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: REGIONS FINANCIAL CORPORATION (GA)

The office is very unprofessional and have no concern for meeting the client 's needs. I started a construction to perm loan process XX/XX/XXXX until XX/XX/XXXX. Several mistakes were made along the way. To say the least, I was not satisfied that my time was wasted and the amount of undue stress I dealt with. XXXX XXXX, XXXX XXXX, NMLS # XXXX was the loan specialist. To keep it short, I have excellent credit and the funds to back it. I am a XXXX XXXX XXXX veteran and the loan would be permanent to XXXX XXXX after the construct is completed. XXXX did not communicate very much because I had to always contact him to get a status and he had to always contact his manager as if he did not know the job. During the application process, XXXX nor his manager XXXX knew how to work the online process, so they delayed me until the administrative person returned from vacation. I emailed XXXX and XXXX all the documents to keep the process going but they failed to do so. XXXX asked for my credit card information to pay for the appraisal, I gave it to him over the phone and asked him not to share it. XXXX informed me there would be a {$450.00} charge for the appraisal which I approved but {$780.00} was charged to my card. When I questioned XXXX, he informed me the price went up because of the size of the house so they charged more to my card. I asked who they are because I only authorized you to use my card. XXXX said the appraiser company charged more. Needless to say, I canceled that credit card and preceded to request a refund of the overcharge. XXXX said he would look into it and get back to me but never did. The official appraisal was sent to me and it showed the cost as {$450.00} which is what XXXX originally quoted. I brought this to XXXX attention and preceded to ask XXXX for a refund on the difference several times. Not until I called his manager two months later was the money returned but the entire appraisal fee was returned because Regions decided they would not give me the loan because of the appraised value of the home was more than comparable homes in nearby neighborhoods. The appraiser did not include the land in the appraisal. The appraisal classified my new home two levels higher than other homes in the community, so Regions decided after five months that resale value was a risk to the bank. XXXX knew this information one month ( XX/XX/XXXX ) before he contacted me on XX/XX/XXXX via email to tell me to call him. The administrative person informed me that XXXX and XXXX knew on XX/XX/XXXX. I saw the email on XX/XX/XXXX and called XXXX for him to give me the bad news. XXXX explained he didnt call me because he doesnt like to give bad news and promise to get my refund on the appraisal which he never did. XXXX proceeded to share with me that Im building a very nice home but recommend I chose a home that fits the neighborhood and Regions would still give me the money. When I refused to do so, XXXX suggested I work with a friend of his at another bank, XXXX. XXXX never sent the friend contact information after I sent an email verifying the phone conversation. At this point I contacted his manager, XXXX XXXX and formally complained about how bad the service was and explained the appraisal fee to the manager who reassured me that I was not the only client rejected for the same reason. It took a week to get the appraisal fee returned to me. I spoke with my previous real estate agent who informed me that one of her clients had a similar experience with Regions bank. Both of us are XXXX XXXX. I curios if this is a form of XXXX profiling. I am filing a complaint at GA XXXX XXXX XXXX against the appraiser, XXXX XXXX, All Expert Appraisals as well because the appraisal was incorrectly completed as well.