Comment

Comment by Brent Innocenzi on July 26, 2012 at 8:13am

Helena, You will need to send the above referenced Suntrust SS Package fully executed along with Hardship letter (signed & dated), 2 months current bank st's, 1 months current & consecutive pay stubs, Listing Agreement, Purchase contract fully executed with S.S. addendum and the buyer's current within 30 days pre-qual letter or proof of funds.

Comment by Leslie Kunkel on July 19, 2012 at 8:38am

Anyone have a number for the SunTrust Equity SS division? I see fax numbers but no phone #s. Thank you!

Comment by Helena Kaucheck on July 17, 2012 at 6:38pm

I have a new SS with Suntrust.  When I called the number above and dialed the extension, I'm transferred to a relationship manager.  I left a few messages but no return call.  I'm looking for the packaging requirements (mainly to confirm that what normally send is sufficient for Sun Trust).  Is there another number to call to get a live person without being sent to a relationship manager and forced to leave a message?  Thanks!  I did call a C/S number who passed me right into the same number with the leave VM option. 

Comment by Leslie Kunkel on June 19, 2012 at 1:29am

Has anyone had SunTrust pay more than 3% for closing costs?

Comment by Dean E Eshelman, CPA, CDPE, IRES on June 18, 2012 at 4:23pm

Just go approval on mine and was listed April 12, closing June 27. Penny was a great negotiator and kept things moving.

Comment by Mark Simon on June 18, 2012 at 12:48pm

Hi Marcy, Thanks for the mostly encouraging report. I've had others with SunTrust so know to be prepared for a long slog...

Comment by Marcy Spieker on June 18, 2012 at 12:28pm

Mark-

Yes, Suntrust will waive deficiency.  Just finished up an exact scenario as yours, 1st and 2nd withSuntrust and Fannie Mae investor on the 1st.  Just don't expect anything to happen quickly.  Very long and ridiculous process.  Keep on them constantly.

Comment by Mark Simon on June 18, 2012 at 11:42am

I have a client with a SunTrust 30yr fixed 1st (owned by Fannie Mae) and a SunTrust 30 year fixed 2nd trust. Anyone have any experience with:

1) Does SunTrust require default before considering SS on these products?

2) Will SunTrust consider waiving deficiency?

Thanks for any input.

Comment by Sheila Vardakis on June 18, 2012 at 9:14am

Sue,

I wish I could say it is that easy however once Sun Trust gets the approval letter stating what BOA is willing to pay them to release the lien can also get ugly.  if the amount is not sufficient then the second could hold up the close until they get their amount.  As for how long, anybodies guess on that one.  Many blessings in getting the deal done. 

Comment by Sue Fitzhugh on June 16, 2012 at 6:31am

I'm the buyers agent for a short sale that has a BoA first mortgage and a SunTrust Second. They had another buyer who waited a year and then walked when BoA came back with a price (never in writing). We jumped in as soon as it came back on the market because the house is just what we were looking for.  It's hard to get info out of the listing agent (partial language barrier) but today he called for my buyers partial socials and date of births to put into Equator so I could ask more questions. He said that SunTrust requires the approval from the first in the initial package that he send to him.  Does this sound right? He seems to think getting the second to accept once the first has said how much they'll give the second will be easy.  Anyone have an idea how long SunTrust takes to approve as a second lien holder?

Thanks, Sue

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