BB&T Financial Mortgage Complaint

BB&T Financial Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Iowa

Several years ago I refinanced my mortgage loan to pay off my school loans. When I did so, I was assured the flood insurance would be the same as the the loan I initially had my loan thru. In the refinance process they sold my loan to BB & T assuring me the flood insurance requirement would be handled as it had previously, that being I would pay for flood insurance on the outstanding principal of my loan. My house is assessed for taxes at $78000.00. Resale value is between $80000.00 and $85000.00. My refinanced mortgage balance is $45000.00. BB & T is assessing my flood insurance on $110000.00. I contacted them several time and received no satisfaction. I was told the rules set forth by the National Flood Insurance Refort Act of 1994 is a standard, not a law, and the bank is not required to follow it, that they make their own rules. I feel this practice is unfair and deceptive.