Consumer complaint received 2026-03-08 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
Truist bank and their employees actions were the definition of bait and switch. Meaning, Truist bank offered me an original set of terms both verbally and in writing. My decision to then enter a legally binding contract with a home builder was influenced by those terms that were both verbal and written from Truist bank multiple times ( documentation attached ). Once I was under contract with the home builder and nearly through the financing process as well as home building process. Truist bank notified me that they were no longer honoring those terms and offered me XXXX explanation. You will see that I asked very direct questions repeatedly and those questions were simply not answered or avoided. This leads me to believe that since Truist Bank never answered questions, never provided any specifics up front, during, and/or after the process. Leads me to believe that no such program ( lender credit 1.5 % ) ever existed and that it was simply made up by XXXX XXXX in order for me to sign a mortgage application and move forward with Truist bank. I repeatedly asked for my questions to be answered as to why these terms were not being honored. Multiple phone calls and emails from me explicitly asking very pointed and direct questions about the changes and as to why these previously relayed terms and commitments were not being honored. However, at this point, Truist bank repeatedly avoided answering direct questions or would flat out not respond to the questions that I was asking. ( documentation attached ). The problem at this point, is that I could no longer exit/backout of the contract and loan transaction. If I were to exit the contract, the home builder would then retain my original down payment of {$82000.00} and I would be out that money. Yes, I attempted to exit the contract and the homebuilder informed me that my deposit would not be refunded. Which is sad because Truist Bank was referred to me as the preferred lender of the project by XXXX XXXX. With that said, here is the situation and timeline of my complaint. Truist Bank/XXXX XXXX the loan officer, offered me an original set of terms that included 1.5 % in lender credits. The way to secure that 1.5 % lender credit was to complete a loan application to tie that lender credit to my loan and the property. Please note, this is a new development that I am purchasing in and signed the contract in XXXX of XXXX. New construction is lengthy and often delayed. So I repeatedly asked that this credit would be there in the end. XXXX repeatedly stated the lender credit would be there and was tied to my loan application and this property. Please see all email documentation supporting this. On approx. XX/XX/XXXX XXXX XXXX not only confirmed the 1.5 % but placed it on a loan estimate for {$9400.00}. This is attached as document LE - XXXX and can be found in section J. At this time, XXXX XXXX also informed me that I could combine the 1.5 % lender credit with a new program called Relationship Pricing. This requires me to open a savings account with Truist and then deposit {$100000.00} in order to reduce the overall rate of the loan by .25 %. I consider this the second attempt at bait and switch. I say this because on XX/XX/XXXX I asked to be transferred away from XXXX XXXX to a more capable loan officer. The person I was then linked with was XXXX XXXX direct manager, XXXX XXXX. XXXX and I spoke on XX/XX/XXXX and XXXX informed me that the 1.5 % lender credit had expired and that Truist bank would only be providing .5 % in lender credits. You will see that the next loan estimate attached was on XXXX and the lender credit was then reduced to .5 % At this point, I started asking questions repeatedly for weeks on end. XXXX would not answer my direct questions. Please see attached documentation emails of me asking questions from XX/XX/XXXX XX/XX/XXXX. Through these emails is where I also learned that if I was to update my loan scenario to the relationship pricing structure, the lender credits would then be voided. So XXXX not only lied that the discount incentives could be combined, he was also attempting to move me away to a new loan scenario which would make the lender credits voided. So he lied about the 1.5 % lender credits, he lied these incentives could be combined, and he was attempting to move me to new loan scenario that then doesnt allow me to switch my loan scenario back to the 1.5 % lender credit scenario. I believe this was his way of covering his tracks on the lender credits not truly being the 1.5 % or even existing as a program offered by Truist. But if it was, why didnt they show me any documentation what so ever? I never once changed my XXXX and final loan scenario as I knew that they were trying to move me away from the loan scenario and void those credits. Youll see that they didnt tell me that rather I uncovered that through questions. As a result, I further escalated this issue to XXXX XXXX, who is XXXX XXXX XXXX. XXXX and I spoke on the phone for over an hour and he informed that nothing could be done prior to closing and that XXXX was being coached in her email responses to me. Interesting data point, he said nothing could be done because we were scheduled to close on XX/XX/XXXX and we were talking on XX/XX/XXXX. However, XXXX knew about the issue for several weeks prior to us speaking on XX/XX/XXXX. He said he knew exactly who I was and that it was a well known issue by many including himself for several weeks although he was trying to get me some retribution. This was false because on XX/XX/XXXX, I stated I would delay closing and pay for any additional fees to extend my rate lock, etc in order for this to be resolved. On XX/XX/XXXX, you will see an email from XXXX stating that any remediation must occur post-closing. The closing disclosure will state the .5 % lender credit and any subsequent cures must occur after the closing. So basically, I was forced to close and wait for after the fact retribution. After closing, Truist bank XXXX review flagged that I was due an additional .5 % and did provide this in the form of a check. However, I still have only received a total of 1 % in lender credits. Meaning, Im still due .5 % in lender credits from Truist bank to this day ( $ XXXX ). This is also the reason for reporting all of Truist bank representatives to the CFPB. XXXX XXXX XXXX XXXX I would like to call out that I know Truist Bank is going to attempt to state that they provided disclosures and redisclosures showing the reduced credit. Meaning, they will say that they disclosed properly and in the appropriate amount of time. However, notice the attached emails and texts ( in addition from verbal discussions ) from XXXX XXXX stating the lender credits couldnt be placed on earlier loan disclosures and contracts were in his words Due to tech limitations. Original Terms : Lender Credit of 1.5 % Revised terms : Lender Credit of only .5 % Truist Bank Representatives : o XXXX XXXX XXXX Mortgage/Truist ( NMLSR # XXXX ) -> Loan officer for my transaction o XXXX XXXX XXXX XXXX XXXX Mortgage Producing Sales XXXX ( NMLSR # XXXX ) -> XXXX XXXX direct XXXX XXXX XXXX XXXX - Senior Vice President Area Sales Manager for XXXX XXXX XXXX XXXX XXXX XXXX Truist Mortgage XXXX Would not provide his MLS # ) -> XXXX XXXX direct manager

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 explanation