Consumer complaint received 2015-11-17
Product: Mortgage — Other mortgage
Issue: Loan modification,collection,foreclosure — 
Company: BB&T CORPORATION (NC)

We are filing a complaint against Branch Banking & Trust for violating RESPA and other regulatory guidelines by failing to notify us 60 days in advance that our five year balloon, second mortgage, was due to mature. Actual notification, via mail, that the loan had matured occurred 60 days after the loan due date had expired. Due to their negligence in notifying us the mortgage was due to mature, we are now facing a foreclosure hearing notice from BB & T with a court date set for XXXX XXXX. Their unwillingness to acknowledge this regulatory violation, their refusal to accept our monthly payments, or work with us in modifying this loan has left us with few options and caused a major financial dilemna for us. We have XXXX mortgages with BB & T and have never missed a monthly payment in nine years until this failure occurred. 
1. RESPA Violations - Our 5 year balloon mortgage matured without prior notification in XXXX. BB & T failed to notify us in any manner until two months after the mortgage had matured, in XXXX, that we must pay the balance due or face foreclosure ( Docs attached ). This was a blatant violation of RESPA guidelines that the bank failed to address despite our repeated efforts to bring it to their attention throughout multiple departments and executives within BB & T. We spoke with the Loss Mitigation Department, several representatives in the Foreclosure Department, XXXX XXXX, XXXX XXXX and Legal Practice Group Manager Mortgage & Retail Lending for BB & T , and XXXX XXXX , foreclosure attorney from XXXX XXXX XXXX XXXX Law representing BB & T ( documents attached ). We believe this has been an intentional effort to ignore or even acknowledge what BB & T knew to be a glaring violation of federal RESPA guidelines carrying hefty fines. We believe they are engaging in predatory practices to intentionally foreclose on our property by refusing to acknowledge these failures and cover up any wrongdoing. 
2. Continual Monthly Invoicing - BB & T has continued to invoice us every month after the mortgage had matured with the standard payment of {$550.00} along with additional late fees and interest charges, despite their refusal to accept our payments. When we made payments at the local branch, they were returned ( documents attached ). 
In our nine years as a BB & T client we never failed to make our monthly payments on time with either mortgage we hold with BB & T ; We constantly requested an answer why BB & T was invoicing us but not accepting payment, we received no answers from any representatives in the Loss Mitigation Departments who we were forced to deal with. We have felt very intimidated and isolated throughout this ordeal, we believe these continual predatory practices of monthly invoicing for mortgage payments, late fees, and interest charges they refuse to accept, is an intentional effort to intimidate us, run up the loan balance, and make our loan look more delinquent than it actually is. BB & T 's failures and tactics have negatively affected our credit rating and have made it very challenging to obtain credit with another lender to refinance this loan. 
3. Predatory Interest Rate - BB & T financed our five year balloon mortgage is XXXX %. In XXXX, the average rate for a five year balloon mortgage was under 5 %, a 30 Year Fixed rate was only XXXX %. Our rate was far above the industry average. We felt very misled and taken advantage of. If they had signed us to a fixed rate this situation would never have occurred. At signing, our loan officer indicated that we could refinance in the future for a lower rate. This seemed predatory to us, but at the time we needed to sign the documents and hoped to refinance soon thereafter. 
We can no longer continue to appeal to BB & T and expect them to admit to their violations and correct the mistake on their own authority. 
Thank you for your help in advance.