Consumer complaint received 2022-01-18
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: TRUIST FINANCIAL CORPORATION (FL)

Complaint against Truist Bank for unfair, deceptive and abusive practice. Truist Bank has violated the three day closing disclosure federal law. We were approved for a conventional loan and were initially suppose to close on the home on XX/XX/XXXX and as of XX/XX/XXXX we were still under the conventional loan, per the closing disclosure received on XX/XX/XXXX ( Conventional Loan/Loan Amount {$160000.00}, interest rate 3.125 %, seller to pay {$5500.00}. towards closing, etc. ). The closing date was pushed back to XX/XX/XXXX, at XXXX, then XXXX and then XXXX, as the title company was waiting for the final numbers to let us know how much money we would need for closing. On XX/XX/XXXX, we were presented the closing disclosure moments before closing by Truist Bank who changed the loan type to an investment loan, the loan officer stated that it was because the second home was less then an hour away from our home ( which the home is actually just shy of two hours away ), decreased the loan amount to {$150000.00}, with a 3.99 % interest rate with having to pay points to get that rate, did not honor the full amount that the seller was going to pay towards closing costs, we had pay a much larger down payment, lost wages/per diem, etc. Truist Bank did not follow the 3 day closing disclosure law, Truist did a bait and switch, we signed off on the loan at closing on XX/XX/XXXX or we would have lost the home that we had been looking for for so long, lost the monies that we had paid for deposit, survey, inspection ( s ) and appraisal. We were shocked and surprised when we saw the closing documents. I was in tears at the table as we were not even given the chance to review the documents to understand the mortgage terms and costs and being allowed to ask questions of Truist Bank prior to closing. I had reached out to our loan officer post closing and she stated that she had emailed us the closing documents on XX/XX/XXXX ( that was a lie ). I had asked the loan officer to forward the email because we did not receive it and also advised her that the closing documents in the Truist portal are dated XX/XX/XXXX. The loan officer failed to follow-up with regard to the new loan type closing disclosure. On XX/XX/XXXX, we then sent an email to the loan officers supervisor, explained to her the situation and requested that Truist rectifies its wrongs. On XX/XX/XXXX, the supervisor responded by stating that she was researching our loan and the events and would get back to us on XX/XX/XXXX. On XX/XX/XXXX, we sent a follow up email to the supervisor since she never got back to us, asking her to provide us with her supervisors information if she was unable to assist us. As of the close of business on XX/XX/XXXX, we still have not heard back from Truist Bank. I feel that we have provided Truist Bank time to respond and have heard nothing, which only adds insult to injury. Truist Bank needs to be held accountable for unfair, deceptive and abusive practice and for not complying with federal laws that are in place to protect the consumer/RESPA violations XXXX Truist Bank mislead us offering us the conventional loan with its terms and then failed to provide us with the services as disclosed. This has impacted us mentally, physically and financially. We are still customers of Suntrust/Truist Bank XXXX