BB&T Financial Mortgage Complaint

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account

BB&T Financial Mortgage department,

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account Maryland

For the second time since - 2016, the principal that was to be applied to my home mortgage was not and instead held in suspense. I am striving to pay my mortgage off within a year of -. The mortgage payment ticket was completed correctly both times by me ( - and - ). The first incident involving the error took 3 weeks to correct and apply the payment to the mortgage principal. I received a letter from BB & T Bank dated - and noticed that the full amount of the principal was not deducted. The payment amount was $3500.00. $3500.00 is in now in suspense. This is disrupting my goal of paying the home mortgage off because BB & T is not applying the extra principal to the home loan. I am under the impression that BB & T is purposely holding the extra principal in suspense so that I will ultimately be paying more interest or someone is stealing money. This kind of mistake is unacceptable 2xs within 6 months. After contacting - branches in -, MD and the customer call center the issue is still not resolved. I received a statement dated - and the mistake is not adjusted.

BB&T Financial customer in Maryland
Dec 18, 2016

* Source: CFPB Complaint Database

BB&T Financial response to complaint:
Closed with explanation

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