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Start With Trust®
In Central Virginia

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BBB Accreditation

A BBB Accredited Business since

BBB has determined that SunTrust Mortgage meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

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Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Based on BBB files, this business has a BBB Rating of No Rating. The reason is as follows:

  • BBB does not have sufficient information to issue a rating on this business.

Industry Ratings Comparison | Chart


Customer Complaints Summary Read complaint details

301 complaints closed with BBB in last 3 years | 74 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 7
Billing/Collection Issues 87
Delivery Issues 1
Guarantee/Warranty Issues 1
Problems with Product/Service 205
Total Closed Complaints 301

Customer Reviews Summary Read customer reviews

1 Customer Review on SunTrust Mortgage
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 1
Total Customer Reviews 1

Additional Information

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BBB file opened: December 04, 2008 Business started: 12/08/1865 in VA Business incorporated: 03/01/1927 in VA
Type of Entity

Corporation

Contact Information
Customer Contact: Executive Services
Business Category

Mortgage Bankers

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Industry Ratings Comparison Chart X
Same Relative Size   All Businesses
The information in the chart below represents an industry ratings comparison of businesses which are of the same relative size or for all businesses (see toggle). This is based on BBB's database of businesses located in Central Virginia. Businesses may engage in more than one type of business.
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We offer free reviews on businesses that include background, licensing, consumer experience and other information such as governmental actions that is known to BBB. These reviews are provided for businesses that are BBB accredited and also for businesses that are not BBB accredited.

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Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.

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BBB Complaint Process

Your complaint will be forwarded to the business within two business days. The business will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the business's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.

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BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to prove their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.

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What government actions does BBB report on?

BBB reports on known significant government actions involving business' marketplace conduct.

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BBB Reporting Policy

As a matter of policy, BBB does not endorse any product, service or business.

BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.

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The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved.  We are providing a summary of the government's allegations, which have not yet been proven.

On June 17, 2014, the US Department of Justice and the Consumer Financial Protection Bureau filed a Consent Judgment in the United States District Court for the District of Columbia.  Charges filed allege the business is in violation of federal law prohibiting misconduct in the servicing of mortgages.  The matter is pending.  For more details go to http://files.consumerfinance.gov/f/201406_cfpb_consent-judgement_sun-trust.pdf.

In response to these charges, the business provided the following statement:  "SunTrust is pleased to have resolved these legacy mortgage matters.  We are addressing issues related to mortgage matters stemming from the financial crisis and recession period.  Over the past several years, SunTrust has made improvements to its mortgage underwriting processes and internal controls.  This includes increased training and the establishment of a center of specialization to underwrite all government-insured mortgages, which has led to improved quality control and significantly reduced error rates.  We also completed timely implementation of stringent new regulatory requirements for loan origination and disclosure issued by the Consumer Financial Protection Bureau (CFPB) across all of its retail and correspondent origination locations."