BB&T Financial Mortgage Complaint

BB&T Financial Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Florida

I refinanced my mortgage with BB & T in -. Previously my mortgage was held by - - -. Yearly, - - - would send a threatening letter telling me that I had to increase my flood insurance to match the coverage of my homeowners/windstorm insurance. Initially, I did increase it, but a class action filed against - - - resulted in the bank changing its practices. In subsequent years after the suit, - - - would send me a waiver to acknowledge the discrepancy, which I would sign and return. I have lived in my home since -, - : 44 years, 4 months and I have NEVER filed a flood claim. I survived - and other catastrophic storms. Not once have I had damage to my home due to rising water flooding. This is the only type of flooding covered by the Florida flood insurance policies. I live in a flood zone, but my home is on a ridge in that zone. In -, I paid for an elevation certificate to prove my elevation. Due to this certificate, my flood insurance dropped drastically from over $1000.00 to somewhere around


of insurance coverage to protect my home. ( $190000.00 of homeowners /windstorm coverage and the proposed $170000.00 of flood insurance coverage ) The current balance on my mortgage is $130000.00 Last week I received a letter from BB & T stating that my flood insurance does not match my home owners/windstorm coverage and that if I do not increase the flood insurance, they will force place a policy in the amount $21000.00, at their expense ( the difference between the - policy coverages ). I called BB & T - -, - and requested to speak with a supervisor. The young lady I spoke with assured me she would be able to assist me with the issue, but after the above explanation, she said I would have to increase my flood insurance coverage or the force placement would go into effect. I asked to speak with a supervisor. She said the answer would be the same, I insisted, and she said a supervisor was not available, nor was a senior advisor and I would have to wait until - - for a return call. I did receive a phone call from - - ( I believe she is a senior advisor in the insurance department ) at BB & T at around - -. today, - -, -. I repeated the problem detailed above. She did say the requirement for the homeowners /wind storm insurance was that I only had to have enough insurance to cover the amount of the loan. If I wanted to decrease the amount of homeowners/windstorm insurance to equal the amount of flood insurance that would be acceptable, but the - coverages did have to match. I still have not been able to speak with a supervisor. I asked to speak with someone higher up in the company that would be able to give me a waiver. She told me no one has the authority to give waivers as they do not give waivers. Another compromise - - - suggested was that if I could get the flood insurance company to state, on the declaration page, that the $170000.00 was the replacement cost of the home and to provide the elevation, BB & T would accept that documentation and they would not force place the additional flood insurance. Neither of these suggestions make sense to me. I will include the following : The letter from BB & T, my current declaration pages from both insurance policies, the elevation certificate, the proposed - flood coverage, and the flood zone map showing my property. I am selecting the " making payments '' category below but none of the categories really fit my issue.