Regions Financial Corporation Mortgage Complaint

Regions Financial Corporation Mortgage department,

Home equity loan or line of credit Settlement process and costs Florida

We obtained an equity line from Regions Bank in -, 2016. We were n't given the loan documents prior to signing them and still have not been provided with executed copies. We were told on more than - occasion by the loan officer prior to signing the loan documents that we would not have to pay a $1500.00 prepayment penalty if we closed the equity line within two years, if the reason for closing the equity line was due to the sale of our home. We recently sold our home. When we ordered the payoff, Regions included the $1500.00 prepayment penalty in the payoff. We then spoke to the loan officer who confirmed that he told us we would not be responsible for the prepayment penalty if we were closing the equity line due to the sale of our home. He said we should n't be responsible for the fee and would work to get it waived. When we did n't hear back from him, we spoke to the area Vice President. Despite confirming the representations made to us, the area Vice President said Regions refused to waive the fee.