Really, does SunTrust think I am stupid? They tried to pull a fast one on me and I find it insulting. I wonder sometimes if they did this because I am young woman who was not well versed in financial issues. I wonder if they would try to pull the same stunds if it was a man who worked for a finance company.
Let’s go bak to when SunTrust first discovered the issue.
1. Return all interest from both loans (since you couldn’t have a second loan without the first loan) from the date of discovery until now. SunTrust fails to recognize that counseling was reaquired as part of this loan.
2. Make both loans affordable according to MGL 183c Section 4, which states
There shall be a presumption that the borrower is able to make the scheduled payments if, at the time the loan is made, and based on the monthly payments as calculated based on the index plus the margin at the time the loan is made, in the case of loans with lower introductory rates: (1) the borrower’s scheduled monthly payments on the loan, including principal, interest, taxes, insurance, and assessments, combined with the scheduled payments for all other debt, do not exceed 50 per cent of the borrowers documented and verified monthly gross income, if the borrower has sufficient residual income as defined in the guidelines established in 38 CFR 36.4337(e) and VA form 26-6393 to pay essential monthly expenses after paying the scheduled monthly payments and any additional debt.
Unfortunately I will no longer have my job as of May 25. So my income will be unemployment insurance and my rental income. SunTrust has this information, as I have sent it to them.
This is what SunTrust should have done in the first place, however they decided to try to cover up the issue. If they had simply done things correctly when they discovered the error, they would have been in a better position.
So that is it, simply return the interest that they unjustly received and make the loan affordable.
However SunTrust continues to ignore me and come up with a reasonable solution. That is the reason that I started thsi site, I don’t want to be ignored any more.
Tell me if you think this is predatory lending and/or mortgage fraud?
A mortgage broker knocks on my door and says I HAVE to refinance and I have to refinance with him and I have to refinance into product “X”. He leads me to believe that if I dont’ refinance with him that I may lose my home. The broker makes an appointment for me to close with their attorney. I decide something is not right and call and cancel the closing. The annoyed broker calls and says again I HAVE to refinance. So this broker is not a predatory lender? and this broker is not commiting Mortgage Fraud?
So now lets say ths is the Midwest Operations Manager for a regional bank’s mortgage company. That is right not a mortgage broker, not a branch loan officer, an OPERATIONS MANGAGER for SunTrust!
So SunTrust discovers there was an “error” with the loan (SunTrust still has not admitted what this error is). So instead of doing the right thing when they discovered this mysterious error, they attempted to make the loan disappear. They should have been responsible and properly rectified this mysterious error.
When a Massachusetts high cost home loan is discovered MGL 183c sets out very clear steps on how the high cost home loan is to be remedied. MGL 18c 17 states-
Once the high cost home loan was discovered, Sun Trust ust did not:
1. Act in good faith - How could SunTrust act in good faith, when they didn’t tell me the error?
2. Notify me of the error. I was never properly notified of any error. According to the note and mortgage any notification m be by mail. SunTrust did not send any notice.
3. Appropriate restitution must be given - according to SunTurst, I was “completely reimbursed” for the loan, and this money was used to refinance the loan.
4. The choice on how to properly rectify the high cost loan must be given to either; change the terms of the loan, or make the high cost home loan satisfy all of the sections of 183c. - I was never given this choice.
SunTrust continues to claim that they have properly rectified the high cost home loan. How is this possible when they never even told me it was a high cost home loan!?!?!? How can SunTrust and their defenders honestly say acted in good faith?
Ok, I have been away, but now I am back and ready to start posting again. It is good to see that I have some readership, and that the search engines are picking up the site. I had a nice time away and came back with a new ring on my finger. However, I jsut found out that I am getting laid off in two weeks… cry, cry, cry…. but that is not what this is about.
I know that I promised to post another falsified document, but I will get to that later. I have lots of documents to post, but I am still new at scanning them in, and posting is much quicker. For nowI want to give a brief overview.
I will try to give the short version (or at least as short as I can) I bought a house in September of 2006 with an 80/20 mortgage. About 4 months later I received a call from SunTrust Mortgage, saying I HAD to refinance that there was an error in my loan. They did not say wha the error actually was. I later found out that the second loan was a Massachusetts High Cost home loan which limits the APR. SunTrust Mortgage should have taken steps to properly rectify the situation. However they did not.
What they did do, was take a combo loan an refinance only a portion of the loan. This permanetly damaged the loan. Oh yea PS, I told them that I did not want to refinance! and I actually cancelled the closing appointment and told them I was fine with the loans as they were. They called and said I HAD to refinance. They scared me into refinancing! I was naive and thought that I might lose the house if I did not listen.
SunTrust continues to state that they properly remedied the situation. How could this be true if they never even told me what the issue was?!?!?! and still have not to this day!
The documents are a joke, it is pretty apparent to me that one SunTrust employee (trying so hard to keep names out of this, I guess Iam too nice) signed the mortgage documents as a loan officer. Magically those documents were not even at closing, a new set with a new loan officer was on the new docs. I even had a handwriting analyst do a preliminary evaluation, and she said it would be worth it to pursue a complete evaluation of the signatures.
So, now I find out that apparently SunTrust has completely reimburse me for the original 2006 second predatory mortgage. However they used this money to pay closing costs and the last month’s interest on the predatory loan! “Yes we are going to refund you for this lemon of a car, but we used the money to pay for all the previous repairs that didn’t work!” At this point all I can say is hahahahahaha, it is comical
Until SunTrust properly follows the Massachusetts Predatory Lending law, SunTrust bank and SunTrust Mortgage are predatory lenders!
This is my first post. You can learn some basics about my fight with SunTrust in the About link. There will be a lot to update and a lot to get to, but I want to start with something I recently found. I sent a QWR (more on the QWR later) which SunTrust did not properly answer. They also said if I wanted any documents I would have to pay $5.00 each. I can see why they did not want me to see. Unsigned docs were just the beginning.
The biggest thing I found was documents that were actually altered! I beleive this is what they call falsifying bank records. SunTrust does not seem to care… and why should they what are they afraid of, a slap on the wrist? They have their big law firms. All I have is my voice.
So here is the first document that they altered. Is is something that is known as the HUD-1, oh yea it is just a federal document.
Here is the copy that I received at closing. Several problems with the copy below. There are many more problems with these documents, but for now to show, how they just alter federal documents, and then sell them to me.
The picture below is the on Hud1 that SunTrust has in its files. Notice Line 809 is deleted below. I gues it is ok to delete just one line, just this one time so we can make our numbers work. As I said above, I beleive that is what they call FALSIFYING BANK RECORDS!!
