Terry Anderson sent a message to Kelly S. King – Chairman and Chief Executive Officer of BBT Corporation – Email Address that said:
Good morning Mr. King,
My name is Terry I have been a customer with BBT for 18 years.
We just sold our house in August, and as of right now we're in the process of purchasing a new home, using BBT as our mortgage provider.
On 11/2/16 we received a commitment letter from Drew at BBT in Limerick, PA.
On 11/9/16 I received a phone call from Drew stating that our mortgage was declined due to a item on my credit report from 3 1/2 years ago.
Our settlement date is scheduled for 11/15/19.
Our credit report has not changed in any way since the start of the loan application.
We would like an explanation as to why we received a commitment letter, and then we were declined 4 business days before our closing date, how is this possible?
If nothing on our credit reports changed, (salary, and employment) how is it possible to decline the mortgage after a commitment letter was received?
We know BBT is new in the PA market, but someone somewhere dropped the ball on this one! Not good business practices/relationships in the PA market!
We are now working with another bank, who also can't understand how this happened!
We are being charged interest for 1 month from the seller because we now had to request an extension to settle.
The contact information for the BBT staff that I've been working with are below.
At the very least we feel we should be compensated for the cost of the appraisal fees below.
Dear Terrence
Thank you for submitting your payment for the following fee(s):
Fee Name:
Fee Amount:
Appraisal Fee
$405.00
Credit Report
$23.70
Payment Amount Received : $428.70
Date Received: October 18, 2016
Drew
Shari
Terry
