• Report: #1068542
Complaint Review:

Regions Bank

  • Submitted: Fri, July 19, 2013
  • Updated: Fri, July 19, 2013

  • Reported By: Randy Long — Douglasville Georgia
Regions Bank
1901 6th Ave. Birminham, Alabama USA

Regions Bank Suspected Large Scale Appraisal Fraud, Lending Fraud, Consumer Lending Violations Birmingham Alabama

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Suspected Large Scale Appraisal and Consumer Lending FRAUD by Regions Bank against its Equity Loan Applicants and primarily; Minorities, Low to Moderate Income, Elderly, and Singles. Regions has been reportedto All of its bank regulators and All of the regulators have agreed to investigate Regions.. If you were Denied a Equity Loan, or if you were offered a much smsaller loan than you applied for, because Regions stated your home Appraised for Less than you thought your Home's Value was, please let me know. Regions appears to be using the Liquidation Value of your home instead of the Fair Market Value they advertise. This can reduced your home's Appraised Value by 25%-40%. Then, Regions will consider a loan up to 80% of the Liquidation Value. That's ~ 60% of the Actual Fair Market Value of your home. Thus, if you have Less than 40% Equity in your home, chances are Regions Declined your loan application. If you had more than 40% Equity in your home, Regions might approve you for a loan, but it would be a LOT LESS than you expected and/or applied for. This happened to me and, chances are, a lot of other Region's Equity Line loan applicants. I want to hear from you. Please let me know if this happened to you. 

This report was posted on Ripoff Report on 07/19/2013 05:31 PM and is a permanent record located here: http://www.ripoffreport.com/reports/regions-bank/birminham-alabama-35203/regions-bank-suspected-large-scale-appraisal-fraud-lending-fraud-consumer-lending-viola-1068542. 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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