SunTrust Banks, Inc. Mortgage Complaint

SunTrust Banks, Inc. Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account New York

My property was flooded on - -, 2016. An insurance claim was immediately filed. After waiting several weeks for the insurance company to process the claim, I signed a contract with a General Contractor to begin making the flood repairs. The contract requires me to pay in installments. I have already paid the contractor $32000.00 out of my own pocket, requiring me to withdraw funds from my investment accounts. On - -, 2016, I finally received the insurance settlement check of $57000.00 and immediately forwarded the check registered mail to Suntrust Mortgage. Confirmation was received that the check was received on - -. Additionally, all required supporting documentation i.e., proof of payment documents, proof of loss, -, Waivers, etc., were uploaded onto the Suntrust website, well in advance of mailing the settlement check. I have spoken with Suntrust Insurance Department Representatives on a daily basis and was assured all necessary documents have been received and approved. On - -, I was told a check was being overnighted via -


On - -, when calling to follow up on the check which did not arrive, I was told it is being held in the Processing Dept. The representatives indicated they were unable to contact anyone in the Processing Dept. No one was able to tell me if or when I will be reimbursed. I can only assume Suntrust is holding the entire amount in an escrow account? With the contracted repair work now approximately 75 % complete, the contractor is now due a third installment to finish the job. For the third time, I am forced to make a sizeable payment out of my own pocket. The home is valued at approximately $370000.00. The mortgage with Suntrust is only $83000.00. My financial interest in this property exceeds that of Suntrust.