BANK OF AMERICA, NATIONAL ASSOCIATION

2019-10-17

Lakewood, CA

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Timely Response

2019-10-17

Lehigh Acres, FL

Managing an account

Checking or savings account: Checking account

Fee problem
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-10-17

Oxford, GA

Managing an account

Checking or savings account: Checking account

Funds not handled or disbursed as instructed
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-17

Norwalk, CA

Problem with a purchase shown on your statement

Credit card or prepaid card: General-purpose credit card or charge card

Card was charged for something you did not purchase with the card
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-17

Atlanta, GA

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Information belongs to someone else
Complaint: Closed an account from XXXX XXXX with cashiers check as I was moving to another location which did not have XXXX XXXX. I then opened an account at local Bank of America branch and the cashiers check I had didn't deposit until about 90 days, Bank of America requested documentation and the proof that it was a valid check. I called the previous bank ( XXXX XXXX ) and the branch manager sent over motorized check/copy and letter confirming it was a valid check not suspected fraud as Bank of America implied. Bank of America closed the account and placed suspected fraud on the XXXX which severely refrains me from opening an account at any other bank. This information is false and need to be removed from my history as I am not a fraud.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Timely Response

2019-10-17

Alexandria, VA

Managing an account

Checking or savings account: Other banking product or service

Banking errors
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-17

Brunswick, OH

Closing your account

Credit card or prepaid card: General-purpose credit card or charge card

Can't close your account
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Timely Response

2019-10-17

Seneca, SC

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: - [ ] I went through XXXX to obtain a loan serviced by Bank of America. The home had mold and repairs that needed to be made so we had to go through a rehab procedure. XXXX says online, in literature, at the workshops and in person that there is never a fee for their services, no down payments or closing cost. We began working with them in XX/XX/XXXX and attended three workshops before our process officially began in XX/XX/XXXX and we finally closed XX/XX/XXXX. We had a closing scheduled for XX/XX/XXXX but they could not get things done in time concerning the rehab cost etc. XXXX XXXX ( Rehab Dept ) Director kept changing the amounts after wed already accepted the bid which inflated our loan. XXXX XXXX XXXX, who manages the rehab process, took the inspection report and sent us what needed to be repaired. We were required to get a contractor to give us a bid and once we accepted it then we were to be cleared by XXXX and be able to close. After we agreed with the contractor and signed off, XXXX added things we didnt need like a new roof when the house had a new one and a basement build back that we didnt want or need. The rehab cost went from the {$38000.00} to {$47000.00} to {$57000.00} because the XXXX Director would take off the roof but fluff other numbers and so on. Even after we closed she tried to get us to sign off on a {$66000.00} rehab scope of work which I refused because of the trend of them going up and saying sign this if you want to continue. I found out later that XXXX XXXX XXXX gets a percentage of the final rehab cost so it now makes sense why she kept fluffing the numbers. We only used {$25000.00} though {$57000.00} was figured into our 30 year mortgage. They put around {$28000.00} towards our principle but a couple thousand is still unaccounted for ( {$57000.00} rehab minus {$25000.00} we actually needed to use minus {$28000.00} leaves a few thousand left over ). Then we found out nine months later they charged us the Rehab fee which is supposed to be paid by the lender. The Rehab fee is supposed to be 3 % of the Rehab ( {$57000.00} on one doc ) but they rolled {$1800.00} into our loan which is more than 3 %. Theres also a doc that says the rehab was {$50000.00} and {$1800.00} is still not 3 % of this fee we were never supposed to pay. We were always told the lender pays. When I asked about these discrepancies the Closing Manager, XXXX XXXX asked me, if you knew about the fee would you still have gone through with the loan? I said what does that have to do with anything then he scolded me and accused me of trying to get something from them. When we spoke before this I said I didnt understand the amounts and why we had to bring almost {$19000.00} to close when around {$9000.00} was points we purchased and we were not to pay a closing cost. Without our permission they held {$7700.00} for nine months ( gave me {$1.00} back in interest ). I was told later that due to the confusion at closing they needed to make adjustments and they had to do it that way. All along they say theres no down payment, closing cost and never a fee for their service. The {$7700.00} they held from cash to close overage was placed in the escrow holdbacks to go towards the rehab they said at a later date that we never pre-approved them holding. At one point they asked for over {$20000.00} in cash to close since we had it in out account. This was decided by Mr. XXXX, the closing manager. There is a contingency of 10 % of the rehab cost which equals about {$5000.00} that got rolled into the loan to cover cost in the event we went over budget. When they surprised us and kept the {$7700.00} cash to close overage and placed it in an escrow holdback account the Rehab Director, XXXX XXXX said it was in case we went over the financed amount which is supposed to be what the 10 % contingency is for so they added an extra {$5000.00} to our loan in case we go over budget. The budget was {$57000.00} and then they felt it was okay to hold {$7700.00} of our money which would give us almost {$65000.00} for rehab and we only needed {$25000.00}. Then we paid out of pocket during the rehab for an HVAC system ( {$7000.00} ) and were not allowed to use our money they had, the {$7700.00} overage they were holding for rehab. I dont understand why our loan had to be inflated again with the contingency fee if they put our overage in escrow for the same purpose. I have been trying for almost a year to have my loan explained. The closing took around six hours after sending us to the bank to get {$22000.00} cash to close but the bank closed early on XX/XX/XXXX to honor the passing of president Bush which the realtor knew about but sent us anyway to buy time. When we returned he and the closing attorney had taken naps per the realtor. Then we were told and given a document saying we needed {$20000.00} cash to close. Mr. XXXX said they were working on the final numbers but in order to close that day we could give the {$20000.00} and Bank of America would cut us a check for any overage. We were asked to sign three different packets with different amounts for our loan and told they were working to straighten out the discrepancies with the lender. One email I received said theyll keep us posted and we were due back {$10000.00} of the cash to close. At one point we decided to leave and the realtor went to get Mr. XXXX and thats when we met him after waiting almost 4 hours we then stayed another 1.5 hours. After XXXX we we told to sign a few more documents and we could wire the money the following day, we just needed the closing date with wet signatures and they had six days to work it out. As we were driving away the closing attorney ran out to our car and had us come in to sign another document. My husband and I worked nights so after working the night before, driving an hour and a half to close, being bounced around for over six hours, driving back, going straight to work, working all night, staying up that next morning anticipating Mr. XXXX call with the final cash to close amount we needed to wire the bank, we finally got to sleep around lunch when Mr. XXXX called to say everything was official. He said he had emails about the overage which was around {$8000.00} ( should have been {$10000.00} ) and he would make sure we got it back. I finally went to sleep thinking we had our home and would be notified concerning the final amounts figured into our loan due to the we have 6 days comments. This never happened. When I was sent an email with the Closing Disclosure and told to sign it in order to close on time, I said the numbers were wrong and was told this was not final but they needed signatures to move forward. I received the email on XX/XX/XXXX at XXXX telling me to sign and return by midnight. I saw the email and signed but said it wasnt right. They close at XXXX and there was no one to go over this with me. I called our counselor who never responded to that call. For the next few days the closing coordinator kept sending the same document for me to resubmit because it wasnt legible. She said it was finally received two days prior to close. Then at closing this incorrect document was there for us to sign in our packet. I again said it was wrong and they began trying to fix things. It appears to me they jumbled a few rehab docs together, took out fees and rolled the rest into the loan. When my husband went to the snack machine, our realtor told me how good the loan was even with the discrepancies and I should sign it or the seller will walk. This was the experience the whole time. We were told one thing and railroaded into signing something else. We paid an inspection fee of {$550.00} that was to be credited back since its part of closing and they claim to have no closing cost and told us the lender would credit it to us. They also inflated the PITI which covers mortgage payments during the rehab by {$200.00}. So as it stands for the past two two months a rep from Bank of America has been in contact with XXXX and had Mr. XXXX call to go line by line and explain what the numbers mean since that didnt happen at closing. When he would get to a point he could not explain, he scolded me and would end the call abruptly. For example, he began to explain the discount points we purchased and said, thats were you purchased seven points. I corrected him and said we only purchased six ( we were not allowed any more ) and he said I have an appointment and got off the phone. I have not heard from him or the Bank of America rep since then and it has been over three weeks. From my calculations we have a couple thousand that was taken from the cash to close that has not been explained and a few thousand unaccounted for that was rolled into the loan. The final loan amount is {$220000.00}. {$57000.00} rehab that was fluffed and rolled into the loan based on BOAs closing documents but about {$50000.00} that Mr. XXXX told me was actually used and in another loan packet. We had around {$19000.00} in cash to close that can not be explained. Ive asked for a breakdown of the escrow holdback and was told by the BOA rep that he would get that to me and had put in a request and thats when communication with him ended. The closing disclosure was changed and signed at closing on XX/XX/XXXX. I have asked since then for clarity. The best explanation I received was from XXXX XXXX Director. She once said it appears they submitted one rehab SOW but used another for the loan causing several thousand dollars difference and she said she would ask that the loan be reassessed. The next time I spoke with her ( after many calls and emails were ignored for along time ) to see if they would redo the loan she said there were no errors and threatened to end the relationship if I speak this way again. Mr. XXXX said he would give back the {$1800.00} plus the interest that I asked for which he said was {$2.00}. Also, the PITI that is rolled into the mortgage to cover the monthly payments while work is being done was not needed because the work took three weeks but they would not clear us to begin although they say work should begin within 30 days after the closing. I was told not to move in until the Director clears me to. They waited until the 5th month to allow the work to begin, didnt pay the contractor until the last month clearing us and we moved in after the PITI was used up. I feel this was strategic as they tried to get me to sign the {$66000.00} SOW that would have included the {$7700.00} overage and made the discrepancies make since. I refused and the back and forth struggle began.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-10-17

Houston, TX

Managing an account

Checking or savings account: Checking account

Cashing a check
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-17

Tarzana, CA

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Complaint: on XX/XX/2019 i made a deposit at Bank of america with a check for XXXX the deposit receipt, the teller at the branch my account online and the person from customer service all said my deposit would be available by XX/XX/2019. the next day the date changed until the XX/XX/XXXX. reasoning is my account is under 30 days old. the check has cleared and has been deducted from the check writers account. why am i being punished for the sake of " policy ''? they have the money!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Timely Response

2019-10-16

Palm Bch Shrs, FL

Problem with a purchase shown on your statement

Credit card or prepaid card: General-purpose credit card or charge card

Card was charged for something you did not purchase with the card
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

La Porte, TX

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

Las Vegas, NV

Managing an account

Checking or savings account: Other banking product or service

Problem making or receiving payments
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

Branson, MO

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-10-16

Decatur, IL

Fees or interest

Credit card or prepaid card: General-purpose credit card or charge card

Problem with fees
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

Long Beach, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I applied for two mortgages with Bank of America. I fully disclosed by situation to the loan officer. I let them know my income ( b/c I am commission based ), assets, other rental properties, the rents I was collecting and what showed on my tax return. They even received a copy of my statements and tax returns. I was applying for 2 rental property purchases using a portfolio loan. From doing other real estate transactions ( I already owned 6 properties and have done numerous refinances ), I know that utilizing a portfolio loan can be tricky with their guidelines. So as to save time and headache I wanted to be fully transparent with the B of A loan officer. The loan officer told me the loans could be down and started the application. He took my deposit for the 2 appraisals which totaled nearly {$2400.00}. After all was said and done they came back with numerous guideline issues on my application. They said that for portfolio loans they would only allow up to 4 financed properties and that a ton of the rental income could not be used b/c I rent out the properties on XX/XX/XXXX. I was declined for the debt to income and too many financed properties guidelines. After I spoke with the loan officer regarding a refund for the appraisals since they submitted my application without knowing their own internal guidelines. I would have never paid the fee if I knew that these were guidelines and would have asked them to speak to an underwriter first before proceeding with the application. Also, I ended up doing the loan with Guaranteed Rate and their appraisal fees were half at XXXX for the same appraisals. I am requesting the B of A reimburse me the appraisal fees since they are taking applications and charging consumers without their loan officers understanding their own internal guidelines. Any help would be appreciated. I have made over 10 phone calls to the loan officer and his managers with no call back regarding this. XXXX XXXX NMLS ID XXXX Loan officer XXXX XXXX XXXX XXXX XXXX XXXX Thank you
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-10-16

Jupiter, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Bank of America lost payments Changed Account # s and Charged Bogus Late Fees
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

NM

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Bank of America is threatening for default loans, not due to none payment, but a huge mistake they have on the books. We have recently discovered a HUGE discrepancy in a duplicate loan by Bank of America. I only have 2 loans with Bank of American. Not 3, two of the three are duplicate loans and only one exists. This is a violation of ULA laws as well as federal banking laws.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

Patterson, MD

Problem caused by your funds being low

Checking or savings account: Checking account

Overdrafts and overdraft fees
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

CA

Lost or stolen check

Money transfer, virtual currency, or money service: Traveler's check or cashier's check

Complaint: I presented a Lost Check Bond to the bank, as they refused to issue a new cashiers check to replace a check that was lost. They said I could not have the check replaced without this bond. After waiting days the bank never contacted the maker or myself about the new check that was to be issued. He, the maker, waited for 2 hours in the bank and was told to " go home ''. 2 days later we found the check. We contacted the bank to get our " original bond documents '' back, a pretty simple task just put them in the mail, and they have refused to return calls or return the bond. Lost Cashiers check # XXXX Contact at the Bank of America : XXXX XXXX : Phone Number XXXX Bank of America XXXX XXXX XXXX XXXX XXXX, FL XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

Miami, FL

Closing an account

Checking or savings account: Checking account

Company closed your account
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

Pacific Beach, CA

Managing an account

Checking or savings account: Other banking product or service

Funds not handled or disbursed as instructed
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-10-16

Managing an account

Checking or savings account: Savings account

Deposits and withdrawals
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

Fontana, CA

Problem with a lender or other company charging your account

Checking or savings account: Checking account

Transaction was not authorized
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-10-16

Albuquerque, NM

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Company Response: Closed with explanation

Timely Response