SunTrust Bank Mortgage Complaint

Conventional fixed mortgage Loan servicing, payments, escrow account

SunTrust Bank Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account California

SunTrust Mortgage purchased our home loan from another financial company. Shortly after purchasing our loan they sent us a letter saying that they had no record of an insurance policy covering our home, and that if we did not contact them within 30 days they will purchase insurance for us at an a cost of $1800.00. I have insurance, and have resolved the issue for my case, but I am reaching out to you because I believe that SunTrust 's actions are illegal. They can not ( or should not ) be allowed to spend their customers money without that customers explicit consent. This problem arose because of SunTrust 's poor record keeping. There is a real possibility that customers ending up being force to buy a second insurance policy because they did not notice or understand the issue. I hope that you will investigate their actions and ensure that no consumers were harmed because of SunTrust 's actions.

SunTrust Bank customer in California
Dec 08, 2015

* Source: CFPB Complaint Database

SunTrust Bank response to complaint:
Closed with explanation

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