SUN TRUST BANK

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Suntrust (Richmond, Va) solicited my business about 5 months ago via mail, recommending I can to refinance my Florida home with the government's HARP 2.0 program. Yes, THEY reached out to ME. The first several interactions with my loan originator were good. Nothing has been since. I paid a $200.00 loan application fee, was assigned my first loan processor and this mess was off to the races. The loan originator told me that the interest rates did not vary with this government program. That is to say, a 15, 10, or even 30 year loan would all be the same rate. It was better than what I had so I opted for the 20 year plan, thinking I would maintain similar payments but pay my loan off 2 years faster. I received my good faith estimate (GFE) in the mail. As I looked over the paperwork, I decided that maybe a 30 year refi with more affordable payments might be a better idea, in case times were tough down the road. I call my originator back and asked her if it would be a problem. Not at all she said. That was the last time I would hear from her, although I have since received multiple GFEs with her name still assigned to it. When I call or email her, the message heard or received back states that she is on "special assignment" and that for any questions about my loan status, I should contact my loan processor. There have been two loan processors in my Suntrust Refi life. The first sent out a paperwork request to me. I responded and provided her with what she wanted so quickly that she actually wrote me an email thanking me. She also informed me that my loan had never been converted to a 30 year, as my loan originator stated it would. She placed me in contact with someone who apparently does loan originations as well. This man proceeded to inform me that I had been misinformed by my loan originator. There are indeed variable rates depending on whether a client opts for a 20 versus a 30 year loan. Lucky me. He told me the best that he could do for me was a .25% higher. For my troubles he gave me credit to pay down the origination points. I was not at all pleased, but I was still better off than at my current mortgage rate. They sent me out a new GFE, indicating a 30 year loan, a credit towards my closing costs and the higher interest rate. I wrote my processor and asked her if there was anything else she needed from me. She said that the second mortgage had to go though loan subordination. That is to say, another bank would have to say that it was alright for me to refinance with under the terms of the HARP 2.0 program. That should not take too long, I thought. Now I am thinking that this loan is going to close quickly. I waited for closing documentation that never came. I wrote my processor multiple times. She told me that the usual turn around time was 23-25 days. I don't think I heard from her again after that. Now around 4 months into the process, I am contacted by another loan processor. I was relieved that I was being contacted and let her know of the lack of communication and closure I had received up to this point. She hinted that her predecessor's lack of performance was what caused her to assume my file and that she would certainly stay on top of it. She indicated that she would be reaching out to the second mortgage holder to take care of the needed loan subordination. She said it would likely be a couple of weeks. The second loan processor did get back to me within a few weeks, but the news was rather unexpected. She told me that the bank holding the second mortgage had refused and would not subordinate the second loan because a home appraisal was not required or being performed for this refinance program. She then went on to tell me that time was running out on my loan, that she was going to have to close my case and that I would have the reapply. WHAT??!! I had done everything, everyone had asked. How could this be? I asked her to give me until the following Monday so that I could have a chance to speak with the second mortgage holder myself. She said she could wait. I contacted the second mortgage holder. They told me my loan processor was incorrect. They had no problem subordinating the second loan. Their only requirement was that the principle loan amount not be increased, as no appraisal was being performed. What that meant to me was that I would have to pay all of the closing costs. I had no problem with that. I proceeded to call my 2nd loan processor back and tell her the good news. She acted as though she was in disbelief. I told her that she would have to resubmit paperwork to them indicating that I would be paying my own closing costs and even told her exactly what paperwork was required and gave her the direct email to the 2nd loan subordination department. She stated that she would "do me the favor" and take care of it right after she finished with she was doing at that moment. That was the last time I heard from her. Since then I have called the other bank, asking if the 2nd loan subordination paperwork had been sent by Suntrust. The last time was just this evening. They look into their records and repeatly inform me that no one from Suntrust has submitted the requiredpaperwork. Last week I received yet another GFE from Suntrust. I don't know why. I could see no associated message of explanation. I certainly hadn't solicited it or requested any modification to the previous one. This one included a slightly lower interest rate and still gave me a credit towards closing costs. It said that I should contact the bank to lock this rate in. So, I did. It seemed only logical. This week I received still another GFE from them. This one was no different from last week's, only that my credit had been reduced by over $285.00. I sent a joint email to both my loan originator's assistant and my 2nd loan processor, asking them why my credit had been reduced. Thus far, I have heard nothing back. Every month that goes by, I lose close to $300.00 in interest payments. I cannot understand for the life of me why Suntrust cannot accomplish what appears to be a relatively simple process. I have been misinformed by them and subjected to this interminable process to a point of pure frustration. WIthin this same timeframe, two other people have expressed that they had been able to refinance and successfully close on their own HARP 2.0 loans. I joined Angie's List in hopes of finding someone reputable who can perform this refinance in a timely fashion. WIsh me luck.

Due to the nature of some investments, some problems arose in the transfer of assets from one account into my new account at Sun Trust and then from Sun Trust to another investment account. Ms. Lendobeja was very efficient and professional. She is seeing that all of this was worked out to my satisfaction, without any undue charges to my account.