The following list describes fees that may apply to you if you request certain mortgage-related services from BB&T. Keep in mind this isn't a complete list of all costs that could be assessed on an account....
|Name of fee||Fee description||Fee range|
|Late charge||A fee assessed when the monthly mortgage payment is not received within the defined grace period||Fees vary by contractual amount, type of loan and state regulation. Please refer to your loan documentation for additional details.|
|Return payment fee||A fee assessed when a payment is rejected by the financial institution for any reason (such as insufficient funds in the account, account closed, etc.). Commonly referred to as NSF (non-sufficient funds).||Fees vary by state from $0 to $50 |
For NY: $20
|Consolidation, extension, modification agreement (CEMA)||A fee assessed when combining two or more loans into a new, consolidated loan, which also reduces the amount of money a borrower pays in New York state mortgage taxes||$1,500|
|Partial release fee||A fee associated with a partial release of collateral that was used as security for the mortgage loan||All states except NC and NY: $100 |
For NC: $0. For NY: $0
|Recast/reamortization fee||A fee charged to the borrower to reamortize the loan, usually after a significant curtailment is made to the loan. Some lenders offer homeowners a chance to lower their monthly payments by "recasting" or "re-amortizing" their current UPB over the original term.||All states except NC and NY: $250. |
For NY: $0. For NC: $150 if outstanding principal balance is less than or equal to $60,000. 0.25% of outstanding principal balance if balance is greater than $60,000.
|Payoff statement fee||A fee assessed when providing a statement of the amount of the unpaid balance of a loan secured by a mortgage, including principal, interest and any other charges properly due under or secured by the mortgage, and interest on a per day basis for the unpaid balance by expedited means, if allowed by applicable law. |
This fee also can be associated with multiple requests made by the borrower.
|Up to $15|
Loans, lines of credit and credit cards are subject to credit approval.
Consumer Handbook on Adjustable-Rate Mortgages coming soon.
McGriff Insurance Services, Inc., and McGriff Seibels & Williams, Inc., are subsidiaries of Truist Insurance Holdings, Inc.
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Services provided by the following affiliates of Truist Financial Corporation: Banking products and services, including loans and deposit accounts, are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, Member FDIC. Trust and investment management services are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, and SunTrust Delaware Trust Company. Securities, brokerage accounts and/or insurance (including annuities) are offered by Truist Investment Services, Inc. (d/b/a SunTrust Investment Services, Inc.) and P.J. Robb Variable Corp., which are SEC registered broker-dealers, members FINRA, SIPC, and a licensed insurance agency where applicable. Investment advisory services are offered by Truist Advisory Services, Inc. (d/b/a SunTrust Advisory Services, Inc.), GFO Advisory Services, LLC, Sterling Capital Management, LLC, and Precept Advisory Group, LLC, each SEC registered investment advisers. Sterling Capital Funds are advised by Sterling Capital Management, LLC. Mortgage products and services are offered through SunTrust Mortgage, a tradename for SunTrust Bank now Truist Bank. Life insurance products are offered through Truist Life Insurance Services, a division of Crump Life Insurance Services, Inc., AR license #100103477, a wholly owned subsidiary of Truist Insurance Holdings, Inc.
"Truist Advisors" may be officers and/or associated persons of the following affiliates of Truist Financial Corporation: SunTrust Bank now Truist Bank, our commercial bank, which provides banking, trust and asset management services; Truist Investment Services, Inc., a registered broker-dealer, which is a member of FINRA and SIPC, and a licensed insurance agency, and which provides securities, annuities and life insurance products; Truist Advisory Services, Inc., an SEC registered investment adviser which provides Investment Advisory services.
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New York City residents: Translation or other language access services may be available. When calling our office regarding collection activity, if you speak a language other than English and need verbal translation services, be sure to inform the representative. A description and translation of commonly-used debt collection terms is available in multiple languages at www.nyc.gov/dca.
Branch Banking and Trust Company is now Truist Bank. Learn more.
BB&T and SunTrust have merged to become Truist. Both institutions will continue to offer independent product lines for a period of time. This may include differing underwriting guidelines, product features, terms, fees and pricing. Our friendly teammates at your local SunTrust branches will be happy to walk you through their respective products. You can also learn more by contacting them at 800-SUNTRUST or SunTrust.com.