After a 13 month mod of my Suntrust mortgage, which they lost my app & paperwork after 6 months for three yrs i have had a mod and have paid on time, incl my flood policy - which I had shopped out and found a better price. After the 3rd year - i receive the notorious "Lender placed docs" coming in claiming i had inadequate coverage,AND as I have seen on another post here, I too had a QBE placed WIND POLICY. for the year 2011 - I had 4 lender placed flood policies- 2 FEMA policies (I always have paid my FEMA w/personal check) but Suntrust decided to pay out of my escrow ??
and then claim the money was returned due to a cancel FEMA policy WHICH was not true - the fact is they received a credit because IT WAS MY PERSONAL MONEY that went back into MY escrow. Then in Feb 2011 - My ex husband purchased "the correct zone"policy from Allstate, 2 days later Suntrust purchased the same policy and took $1900 out of my escrow, then
SO the total flood/addt hazard/wind/or whatever SUNTRUST states they are - I had 8 policies within 6 months and I paid for someone else's insurance policy and by Feb 2012 - i was told for the year 2011 i only had $20K bldg coverage and $8K content - AFTER SUNTRUST TOOK OVER $9000 IN FLOOD POLICIES FROM MY ESCROW
MY ANNUAL DISCLOSURE STATEMENT CLAIMS THAT THEY PROJECT $7k BUT ACTUALLY PAID OUT $16300. SO come Jan 2012 my mortgage increased due to my escrow in arrears for -5700. And i only have $20k worth of flood insurance
I have filed complaints with the NYS Bank Division, FDIC and the Fed Reserve, and I have pointed out several claims that Suntrust made and they are untrue - My monthly statement reflects a payment to someone else home insurance yet their letters contradict their accounting paperwork. Since everything is recorded through MERS why would 2 Suntrust employees contradict each other, within months of writing letters. All they had to say was they made a mistake instead of lying to the NYS banking Div the FDIC and FED RES.
Come May 1 i can no longer afford to keep up with the increased payments and the astronomically price flood insurance. I am a single full time working mother who fought long and hard to buy a house and be able to provide stability for my son. Due to someone else's neglience my credit is destroyed, my bank account is depleted and my son and i will be losing our home we have had for 6 years now.
Dealing with Suntrust is very very difficult and after 3 years of writing letters and emails and phone calls, i have approx 10lbs of carefully documentation. I have paid to mail this to Fed Reserve - the president of Suntrust in CAL. If i didnt seek legal consel from a friend who is trying to help pro bono since I have sunk literally every penny into my home at this point, i never would have known what was happening to my escrow.
Please keep in mind an important note: make sure they continue to take oout PMI from your escrow account, even if you stop paying. That is a crucial point and a red flag - if they stop that means they will commence foreclosure procedures. I have read these posts and I have been a victim of Suntrust's fraudelent insurance scam a key note is to document every call, every email every letter you recieve Also check the Independence Foreclosure Review website it may be advantageous for some of you