Reggie sent a message to William H. Rogers, Jr. – Chairman, President and Chief Executive Officer of SunTrust Banks – Email Address that said:
I am writing to you as a last resort regarding a transaction I have in progress for one of my clients with your financial institution. The property address is 122 Rabey Farm Road in Suffolk VA. We are waiting to close on this transaction however due to the incompetency of your staff we cannot proceed.
Suntrust holds both the 2nd and 3rd mortgage on this property. The third has been approved to proceed finally after five months of waiting. However the problem is the 2nd mortgage. In a correspondence dated August 22, 2016, your staff approves the 2nd mortgage. However they gave us only 8 days to close, which is impossible if the third was not approved as yet. Now that I have an approval on the third mortgage, which your bank holds, they refuse to re-issue the approval letter for the 2nd and allowing REASONABLE time for the closing.
I am reaching out to you to intervene in this matter and assist in getting my client to the closing table. This is definitely and INJUSTICE to everyone involved in this transaction. This has been going on for over 8 months -attempting to get the client to the closing table and we still do not have a solid resolution from Suntrust. The first mortgage has been waiting for months and even has re-issued and approval to proceed. If i cannot get this approved TODAY, by 11am EST, with a reasonable amount of time to close, I will seek a solution through CFPB today to resolve this issue.
Please contact me so that we may work towards a resolution in this matter.