Consumer complaint received 2015-08-13
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: SUNTRUST BANKS, INC. (NC)

I contacted Loan Officer XXXX XXXX with Suntrust Bank through a recommendation from my realtor regarding a mortgage application. I advised XXXX that I in the process of getting my home ready to be sold and I just wanted to know if I need to apply now for a new mortgage/preapproval or should I wait. XXXX suggested that I wait until I was getting closer to selling my home. 
I contacted XXXX about a month later advising that I had an offer and closing date for my home, and that I was in the process of looking for a new home. 
I completed the online application and provided all of the requested documentation to XXXX XXXX statements and pay stub information ). XXXX advised me then that he would be out of the office for a period of time ; however, my application would be left with his Manager to continue with the process. 
Before XXXX XXXX left, I was able to find a home, put in an offer, and set up a closing date XXXX XXXX XXXX XXXX for the sell of my home and the purchase of the new one ). 
After the application was processed, I received a hard copy of the application that I needed to sign and return to the XXXX VA location. I sent back the information and was advised that I needed to clarify some details on an inquiry on my credit report and I needed to provide my payment details for the appraisal and the credit report fee. I provided all of the information and was advised that I would contacted if anything else was needed. 
I was then contacted by a new person XXXX XXXX XXXX XXXX advising that the process was going along fine and if anything else was needed, she would contact me. She also advised me that the application would be forwarded over to the underwriter for review. 
A week before closing, my realtor asked me to check on the progress of the loan to make sure that it was on track for the XXXX XXXX, 2015, closing. XXXX XXXX then advised me that it have not been reviewed yet, and that she would send it over to a new underwriter for review. 
On Wednesday XXXX XXXX, 2015, I was advised by XXXX XXXX that my application was just now being reviewed and that there was an issue with my debt to income ratio. 
Not anytime before this was I advised of an issue, and nothing had changed on my credit report. 
Fast forward to XXXX XXXX, 2015, and I closed on the selling of my home ; however, I was unable to close on the new home. 
After further review and much back and forth between myself, my realtor, and XXXX XXXX, I was advised to pay down and pay down a few items and then I would qualify for the loan. 
After I close on the selling of my home ( XXXX XXXX, 2015 XXXX, I received an email stating that I was conditionally approved for the loan, but additional information was needed, contrary to what I was advised by XXXX XXXX. 
I ended up being able to close on XXXX XXXX, 2015 ; however, I had to stay in a hotel and my son had to stay at another location, as we did not have a home to go to due to the issue with Suntrust Mortgage. 
I incurred over {$700.00} in fees from the XXXX that I had by items stored in, as well as hotel fees from having to stay in one for 2 weeks. 
I have the home now ; however, my issue is the reasoning behind my application not being reviewed until 2 days before my scheduled closing that was made know from the beginning, and the extra money that I had to pay out of pocket. 
The bank ended up waiving some of the fees for the loan and even returning the appraisal fee, but that is just a dent in the bucket for the other fees that I had to pay out because Suntrust dropped the ball on the matter. 
I have email proof of the back and forth and information that I was advised if needed.