Consumer complaint received 2019-06-10 00:00:00
Product: Payday loan, title loan, or personal loan — Personal line of credit
Issue: Getting a line of credit — 
Company: SUNTRUST BANKS, INC.
State: GA

Complaint narrative:
On XX/XX/XXXX, I applied for a SunTrust Equity Line of Credit, with our own mortgage lender, SunTrust. I figured continuing the business with our own mortgage company would be a great idea, however, I was wrong. It has been a nightmare dealing with their loan department. The reason for applying for a loan was to help eliminate a lot of the credit card debt we had accrued. We have never been late on our mortgate and for them to treat us this way is UNNACEPTABLE. We needed about {$40000.00} to pay off ALL of my husbands cards and a few of mine. SunTrust ran my credit and I was advised that due to MY debt to income ratio they were not able to give me such a large amount. So, the representative Miss XXXX XXXX, NMLS ID # XXXX, Bank Officer/Loan Officer ( Client Care Specialist ), suggested that I re-apply jointly with my husband. Her thought process was that maybe 2 incomes would help with the calculation and value of home and income we both receive, etc. So, I applied jointly. Next steps were for me to submit a copy of my home owner insurance ( which my insurance brokers did the next day ) and she would schedule an appraisal once I agreed to move forward, which I did. However, I had to consistently keep following up with Miss XXXX, as she was not very responsive. I even told her in one of the phone calls, that I would appreciate a courtesy response acknowledging she had received documents. She agreed. I picked SunTrust due to the existing relationship I already had with them as our mortgage carrier, but now I regret it. A few days later we received a letter stating that we even though we couldn't get the full ' {$50.00}, XXXX, due to our home appraising lower than they expected ( about $ XXXX ), they only were able to give me {$16000.00}. ( But prior to that they also sent me an approval letter on XX/XX/XXXX stating they would consider {$21000.00}, but after appraisal an email from XXXX stated we can only get $ XXXX email and doc attached ) At this point we were discouraged and didn't know if even taking such small amount would be even worth it, so I started thinking of other options. Miss XXXX recommended I apply for a regular unsecured loan with the XXXX XXXX, and I did. I applied online for XXXX XXXX loan and was also denied. So now I have 2 hard hits on my credit report, which I want removed ASAP. 

Once I got denied from the regular loan with SunTrust. I emailed and spoke to her XXXX and advised to move forward with the {$16000.00} process. At no point did she ask for additional documentation, in fact she stated she wouldnt need my spreadsheet with the credit cards because the amount was so little that I would be able to pay out the creditors on my own. She never requested paystubs, nor any additional documentation, she made it seem like everything was GREAT and we would be closing soon. I figured {$16000.00} is better than nothing.

One of the last conversations I had with XXXX stated that the closing could happen on Thursday, XX/XX/XXXX, ( at the local Branch in XXXX ) which I told her would be perfect because I had already scheduled a day off. So I emailed her on Wed, XX/XX/XXXX, wondering why I hadnt heard from her. I wasnt able to reach her on the phone so I reached out to Miss XXXX XXXX Vice President, Branch Manager II |  SunTrust Bank , Inc. Let me just say that she has been AWESOME. She has been the ONLY one that has even cared about our issues and she has been very apologetic about OTHERS mistakes. NO ONE else has accepted responsibility for their actions. I explained I was very disappointed that the closing was not scheduled and I was very discouraged with the lack of communication from Miss XXXX. So she was kind enough to call another department and get an update regarding our closing. This is the point where we received even more bad news. Miss XXXX conferences in another lady from another department who went on to tell me on the phone that OUR LOAN HAS BEEN DENIED FOR OUR application for the line of credit of {$16000.00}. IM LIKE WHAT!!? How Is that possible?? The lady on the phone admitted that SOMEONE DROPPED THE BALL and she had no further explanation. So after XXXX on XX/XX/XXXX I emailed Delilahs Manager, XXXX XXXX at XXXX to call me immediately. 

So the very next morning ( Friday, XX/XX/XXXX ) my husband went into the branch to speak with Miss XXXX regarding this crazy situation. He explained his disappointment and how we have been unfairly mislead. If a bank gives an approval letter, WE EXPECT AN APPROVAL. I have never experiences such unprofessionalism and so much confusion. Once my husband went into the branch, I believe they spoke to a XXXX, head of the Loan Dept. He advised for XXXX to send in his business taxes and for me to send in my last 2 paystubs AND our personal taxes and once received he would look further into the situation. 
During the conversation XXXX and another rep named " XXXX '' also stated to my husband XXXX that the reason we were denied was due to my chapter XXXX bankruptcy, which occurred in XXXX, which is 10 years ago! That reason was a lie, because I currently have a XXXX credit score and there is NO reason my bankruptcy wouldve played a factor in a denial of {$16000.00} limit. Then they stated oh its because you ( my husband ) is business owner. Excuse after excuse. We should NOT be going through all this drama for a {$16000.00} credit limit on our home equity. I can get that amount in a credit card ALONE! I dont appreciate the lies nor the run-around this company has given us. 

The evening that my husband spoke to XXXX ( XXXX ) we submitted the taxes, the paystubs, everything they needed. Then On Friday XXXX, I finally get a call from Mr. XXXX explaining again that even though we have submitted ALL necessary documentation they STILL wont honor the approval of {$16000.00}. The reason given this time was due to the income on my husbands business. ( As if both of us combined cant afford this line of credit ). 

Trust me, as soon as a I get a chance we WILL be refinancing our mortgage with ANOTHER institution!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief