Consumer complaint received 2023-08-06 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
To Whom It May Concern, I am writing to express my deep concern and frustration stemming from my interactions with Truist and the XXXX XXXX XXXXXXXX. As a first-time homebuyer, I have navigated a distressing sequence of events that has left me deeply unsettled and disheartened. 

I have experienced identity theft, encountered deceptive practices involving misleading information, been subjected to tactics that lack transparency and proper customer disclosure, experienced multiple failure to honor agreements, and faced strong-arming, bullying, and intimidation tactics. These actions seem to have been employed in an attempt to apply marketing pressure, with the ultimate goal of coercing me into remaining at their discretion for an extended period. This strategy appears to make it extremely challenging to seek an alternative lender later in the purchase process without incurring substantial losses. 

My initial engagement with Truist involved inquiring about loan rates and securing standard pre-approval forms for presentation to my realtor in the context of a home purchase offer intended for submission by XX/XX/XXXX. To my dismay, on that precise day, XX/XX/XXXX, Truist conducted an unauthorized hard credit inquiry without obtaining the requisite consent. To further exacerbate the situation, the information furnished to me both before and after the credit inquiry was misleading. My sole intent was to assess rates and communicate my pre-approval status to my realtor. I explicitly requested preliminary rate information prior to engaging in discussions related to a hard inquiry. 

In a bid to address the matter, Truist subsequently supplied me with four disparate loan estimates via email on XX/XX/XXXX, none of which adhered to the established fixed and locked rates. Upon thorough review, it became evident that these estimates were not actual loan proposals, as the documentation itself stated : " The worksheet provided in this Loan Discussion Summary is only an estimate. Your actual rate, payment, and costs could be higher. Obtain an official Loan Estimate prior to finalizing a loan. '' Adding to the complexity, these estimates arrived on XX/XX/XXXX, a single business day beyond the prescribed 3-business-day timeline mandated for delivering such loan estimates. 

On the day of the application deadline, XX/XX/XXXX, which was three business days after the legally stipulated loan estimate delivery deadline, I finally received the initial loan estimate along with the requisite disclosures, application, appraisal documents, and an array of additional paperwork. 

As anticipated, the suggested rate and locked terms fell below my expectations. Remarkably, my loan officer was unavailable throughout that day, engaging in ice fishing with limited connectivity. Later that evening, in a brief conversation, I expressed my reservations regarding the rates and emphasized the importance of locking in the rate and understanding down payment options. To expedite progress, I adhered to my lender 's suggestion to proceed with signing, under the assurance that the terms could be rectified. Consequently, I instructed my lender to adjust the loan estimate and provide a revised version by Monday, XX/XX/XXXX, when he would be back from his trip. This instruction was underscored with the understanding that failing to do so would render our business arrangement null and void. 

Despite this, the requested loan estimate was not delivered on XX/XX/XXXX. On XXXX, I reiterated my request to my loan officer and, in the absence of a satisfactory response, expressed my intention to explore alternatives if the anticipated estimate did not materialize. Unfortunately, I was met with silence for most of the day and was not provided the desired loan estimate that met my expectations. I called customer care and explained my issues with the hard credit pull and professionalism. They arranged that I connect with his supervisor. 

His supervisor took my case on XXXX stating to understand my frustration and in attempts to rectify the matter, provided me with emailed written down rates in addition to points that were higher than the original rate proposed stating the housing market rates are just higher than the prior week and that I am actually getting a discount. I requested that she explain what had transpired to her boss and to rectify the situation with some middle ground. The following day XXXX I was countered with a higher written down rate to which came at disbelief and the supervisor suggested I speak with her boss on XXXX. 

This culminated in my shock on XXXX upon discovering that the appraisal had been finalized and reported, resulting in a financial loss of {$900.00} appraisal fee I had payed on XX/XX/XXXX. Moreover, my commitment to the property has been unalterably fixed at a value of {$1.00} XXXX due to contractual contingencies. 

I am writing to reiterate that Truist proceeded to execute the contract and initiated the home appraisal without my consent or awareness, disregarding my explicit communication with both my loan officer and his supervisor, as well as the communication I had made with Truist 's customer care. 
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I implore you to thoroughly investigate and address all the mentioned concerns above. The events I have recounted not only showcase severe discrepancies in Truist 's conduct but also undermine the integrity of the home-buying process. 

I have all emails, messages, and statements to substantiate all my claims above when and if requested.

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