SunTrust Bank Mortgage Complaint

SunTrust Bank Mortgage department,

Home equity loan or line of credit Loan servicing, payments, escrow account Massachusetts

My mother, - -, who is now deceased, was deceived Suntrust bank ; because of Suntrust 's actions, she was charged at least an extra $7200.00 in interest. As her executor, I am asking that the unauthorized interest be returned. In -/-/-, she took out a HELOC in the amount of $400000.00. At the time, she thought she had only used $66000.00 of line of credit. In fact, - -, a Suntrust employee, without her authorization, took out the whole $400000.00 line of credit on or about -/-/-, and transferred it into a checking account opened in my mother 's name ( the Checking Account '' ). The $66000.00 was then withdrawn from the Checking Account on or about -/-/-. Starting in -/-/-, my mother was charged interest on $400000.00, when she should have in fact only been charged interest starting in -/-/- on the $66000.00 she was told had been withdrawn from


about $67000.00 out through a HELOC, so I was confused when her statement said that the full $400000.00 line of credit had been used. I eventually realized that the Checking Account had been opened, and explained what had happened to my mother. She said ( a ) that she had not authorized the transfer of $400000.00 to the Checking Account, and ( b ) that did not realize that - - had transferred the entire $400000.00 line of credit into the Checking Account on her behalf. We immediately transferred $330000.00, the entire balance of the Checking Account less $1.00, so that she would no longer be charged extra interest. This transfer took place on or about -/-/-. We kept $1.00 in the Checking Account to maintain a record of the transactions that had taken place in the account. During the month of -/-/- my mother 's health declined rapidly, and we were too busy focusing on her health to speak extensively with Suntrust about the overcharges associated with the HELOC. Still, on or around - -, I went to the Suntrust branch in - -, Florida and spoke to an employee about the overcharges. He said he would speak to the manager, - -, and get back to me. A few days later, the manager told me that she was look into the charges and try to help with the situation. After my mother 's death in early -/-/-, I again went to the Suntrust branch in - -, Florida about the overcharges. Some employees recognized that my mother had been deceived by the Suntrust employee who opened the HELOC account and Checking Account, and I asked that Suntrust unwind the excessive charges. I spoke to various employees, including - -, the manager of the branch, but after a series of discussions, the Suntrust representatives eventually said that it believed the transfer was valid, and they would not refund the interest. They did say that - - was no longer with Suntrust. I then I paid off the remainder of the HELOC balance as part of my duties as executor, but repayment was delayed while I was trying to address the overpayments with Suntrust 's representatives. Recently, my son mentioned that I could file a complaint with the CFPB about bank misconduct. Because Suntrust did not resolve the misconduct I brought to its attention, I am now writing to notify the CFPB of Suntrust 's misconduct and seek return of the funds Suntrust improperly charged my mother. As executor to my mother 's estate, I have a duty to represent her interests and the interests of her heirs. A number of my mother 's heirs are of moderate means, and I know these funds would make a real difference in their lives.