• Report: #873672

Complaint Review: Suntrust Mortgage Bank

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  • Submitted: Wed, April 25, 2012
  • Updated: Wed, April 25, 2012

  • Reported By: Meeshalina — bronx new york New York United States of America
Suntrust Mortgage Bank
PO Box 26149 Richmond, Virginia United States of America

Suntrust Mortgage Bank escrow acct- 4 forced policy in one yr- now a $339 increase a month Richmond, Virginia

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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


This report was posted on Ripoff Report on 04/25/2012 11:58 AM and is a permanent record located here: http://www.ripoffreport.com/r/Suntrust-Mortgage-Bank/Richmond-Virginia-23260/Suntrust-Mortgage-Bank-escrow-acct-4-forced-policy-in-one-yr-now-a-339-increase-a-mon-873672. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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