BB&T Financial Mortgage Complaint

BB&T Financial Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Tennessee

I applied for a $55000.00 loan against my current home which has no mortgage. I went to my local BB & T branch to do so but they called a dept. in another state. While at the branch the loan officer on the phone took information and was made aware that I was a long time customer. He told me what information he would need. I gathered all the info, took it back to the branch the next morning where they scanned and emailed him the documents. I asked that he rush the loan through. A week later he called and asked for all the same info again. He had let it sit for 7 days without doing anything. The loan finally made it to the appraisal process. BB & T made the appraiser aware of it on a Tuesday, he came on Friday and submitted the appraisal to them on Sunday night. Another week and a half went by. The loan officer asked for - more pieces of info she said was supposed to be attached to the home. The appraiser had asked for the same info and was given it from a file I kept on the home,


days later, she responded, 'Okay, thanks for letting me know '. When I received the appraisal in the mail, - of the pictures was not even of my house and - of the comments was not describing my house. On - - I received a Reason for DENIAL form letter with a check mark by Value or Type of Collateral Not Sufficient. I contacted the original loan officer who told me that wether they deny or I withdraw a loan, they mark it as a denial. For example, since I did not submit the document they requested because I withdrew the application, they mark it as a denial because documents were not submitted. After further questioning he said Federal Guidelines dictated this. The FDIC has confirmed that this is not correct. BB & T should have listed this loan as a withdrawal by the consumer and that is what I want them to do.