Truist Foreclosures and How Truist (Formerly SunTrust and BB&T) Sells Bank-Owned Homes

Where Are Truist’s Foreclosed Homes Sold?

Truist does not publish where it sells its foreclosed homes, so the few it owns reach buyers through regular local listings. A home a bank has taken back and still owns is called real estate owned, or REO. Truist’s mortgage section covers payments, escrow and help for borrowers who are behind, with no properties-for-sale page and no named auction site.

Without a Truist site, a Truist home looks like any other listing on the multiple listing service (MLS), which agents use and which feeds the main home search sites. Searching for bank-owned homes in Truist’s branch states and checking the seller’s name is the practical route.

The names matter more than usual here. Truist Financial completed its merger with SunTrust Banks effective December 6, 2019, according to its Form 8-K on the SunTrust merger. SunTrust Bank then merged into Branch Banking and Trust Company, which renamed itself Truist Bank. There is no separate SunTrust or BB&T bank today, so a home either bank would once have owned now belongs to Truist Bank, and older SunTrust REO pages point to a bank that no longer exists. Deeds and court papers may still use the older names.

Who Handles Truist’s Foreclosed Homes?

Truist does not name an REO asset manager, a listing broker network or an auction company for the foreclosed homes it owns. An asset manager is a firm some lenders hire to value, repair and sell those homes. What is public is that Truist runs foreclosures itself. A Truist job posting for a Mortgage Foreclosure Specialist in Richmond, Virginia, asks the specialist to “ensure investor, department and company guidelines are met.” The word investor is a reminder that Truist services many loans owned by others, and those owners decide how a foreclosed house is sold.

• Loans Truist keeps. The house becomes Truist’s REO and is sold locally, usually through a listing agent.
• Loans owned by Fannie Mae or Freddie Mac. Foreclosed homes go to Fannie Mae’s REO vendors for HomePath or to Freddie Mac’s HomeSteps.
• FHA and VA loans. FHA homes generally go to HUD, which sells them on the HUD Home Store. The VA sells its homes through Vendor Resource Management, as set out in Circular 26-17-16.

That split helps explain the small FDIC figure, which counts only homes Truist itself owns. To read about the asset management companies that handle homes for many lenders, see the companies overview.

How Have Truist’s Foreclosed Homes Changed Over the Last Year?

Truist’s total foreclosed property fell 85.9% in a year, from $64 million to $9 million, while its foreclosed homes rose from $4 million to $5 million.

Each figure is the value of foreclosed property Truist still owned on that date. The big drop came from nonresidential property such as offices and stores, which fell from $60 million to $4 million as Truist sold it off. Homes moved the other way, peaking at $6 million in March 2026, so they now make up the larger part of what Truist holds.

For a home buyer, the house line is the one that matters, and it is tiny. Truist holds about $9 of foreclosed homes for every $1 million of assets, #778 of 805 on that ratio, while the median bank holds about $258. In other words, almost none of Truist’s own home loans end in a bank-owned sale, so expect to come across very few Truist homes.

These FDIC totals are dollar values for the whole bank, not a home count by state. Filing deadlines are set in the FFIEC Call Report instructions.