Let Me Count the Ways Suntrust Mortgage Screwed Up
In my role serving my HOA, I have learned a lot about pool capacity and who counts toward it. Prince William County, VA counts people on deck in the enclosed pool area, as well as those physically in the pool, as bathers. And sometimes, for instance when a large swim team is practicing during regular pool hours at the most popular pool for residents, the number of bathers can quickly pass approved county capacity. It is what it is and you have to conform to the restrictive number, even if you don't like it. But 
one thing you probably shouldn't do, if you happen to disagree with the number, is accuse the European lifeguards of counting using the metric system. Yeah. Counting is counting no matter where you live or what system you use. The fact that someone thinks people count differently using the metric system just makes me want to laugh and cry simultaneously. You can't make this stuff up.
Suntrust Mortgage really made two Bristow Real Estate Agents angry this month, and one of them was me. A listing of mine in Braemar went under contract in early April to settle in early June. The contract gave the Buyers sixty days to close. Perhaps the employees at Suntrust Mortgage's underwriting department simply can't do math at all. Sixty days is a LONG time to get a loan done. Yet settlement date came and went while underwriting at Suntrust Mortgage continued to rinse and repeat a method of requesting tax transcripts from the IRS that wasn't working. It took them four days past the original settlement date to think, "Hmm...maybe we should send someone down to the IRS office and eliminate the possibility of misunderstanding about the form." That's my take now, though at the time, the enemy was framed as the IRS.
Well, after speaking with the Suntrust Mortgage loan officer after blowing past the second settlement date, once tax transcripts were in hand, for his WORST case scenario of snail-like pace for underwriting. 
I was given a date, passed it along to my Seller and he agreed to extend the settlement date for six days to allow for the final HUD to be approved and closing docs sent out.
Settlement was to happen yesterday, but the closing department of Suntrust Mortgage could not figure out the numbers on the final HUD and how to get them right for approval. Buyers were sitting at a closign table for two hours when the settlement company couldn't wait anymore and had to close for th day.
Emailing my Seller who has since moved across the globe, to let him know that Suntrust Mortgage screwed up AGAIN, was not easy. Of course, the loan officer was on the phone telling me that this wasn't the Buyers fault and that they were "golden." Unfortunately, Buyers are only as good as their lenders and chosen mortgage companies, so Suntrust's internal underwriting and closing department problem had put these golden buyers in default of contract for the third time.
Thankfully, my Seller was reasonable and waited one more day. Settlement has happened, but not without a lot of undue stress on all parties and a delay of twelve days past the already long sixty day settlement. Suntrust may have competitive rates, but I have a feeling, that's because they don't spend money on quality underwriters and closers. So if you have a pre-approved Suntrust Mortgage accompanying an offer on any of my listings in the future, I will likely share this story and advise you get another lender who has well oiled underwriting and closing departments so you don't lose your earnest money. Not all Sellers are as patient as this one was. And Suntrust Mortgage can land you in the deep end and costing you money in hotel rooms, storage and lost earnest money.
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