Consumer complaint received 2018-08-16
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Closing on a mortgage

Complaint:
SENDING ADDITIONAL ATTACHMENTS TO SUPPORT THIS COMPLAINT VIA FAX TO CFPB SINCE I WAS UNABLE TO UPLOAD ALL. 

In XX/XX/XXXX, as I work on a loan modification request with my current mortgage servicer, I am informed that I need to obtain a inspection on my home in order to determine the value of my home. Then I had to obtain an appraisal. To my shocking surprise the value of my home was only {$150000.00} with a mortgages in excess of {$800000.00}. There is no way my mortgage will do a modification with that value. 
The value should be at least {$900000.00} ; however, due to all the undisclosed issues with my home and Breach of Warranty Deed, Breach of several sections of the New Home Contract ; this includes toxic environmental issues and pollutants, flooding that occured in my home prior to purchase, unfinished work per the Addendum in repairs, Failure to intentionally not provide the Addendum for the " Insulation '' ( In Violation to Federal Trade Commission ) and many other problems that the Seller ( Bank of America ) was aware of but failed to disclose due to their officer 's ( XXXX XXXX 's and XXXX XXXX 's ) personal conflicts of interest, non-disclosure, deceptive trade practices, including wire fraud and other illegal acts. I was also informed that they had been turned in to the US Treasury. They used a so called Confidential Settlement Agreement that was not even executed by an authorized officer to cover up their fraud, alongside the builder XXXX XXXX, XXXX XXXX and other conspirators and made me believe I was getting a good deal. However, as part of that deal I was not to disclose how much I purchased the home for or what the terms of that agreement entailed. Instead I was lead to believe to pursue the illegal remodel contracts that XXXX and my then realtor XXXX XXXX had done. They sent me on a wild goose chase pursing the wrong parties. When all of this was at the hands of Bank of America. Unknown to me and trusting BOA officers to my own detriment, all monies that I had been paid, BOA had paid, prior to closing including all concessions, should have been reflected on the HUD-1. This agreement was also put in place to protect XXXX XXXX 's ( BOA employee and VP Construction Lending at that time ) family business ( XXXX XXXX ), who also had a contract with Bank of America and then had a contract with XXXX XXXX ( President XXXX XXXX and VP XXXX XXXX ). This is where the fraud began. Then they used my personal information to take out a construction loan ( per the Statement of Facts with the State of Texas TREC offfice,  attached ) to draw out funds on work never performed, already performed by the previous builder on my home ( XXXX XXXX XXXX ), or bill for items that I had paid for directly. Unknown to me, my family and I have lived in these environmental conditions in this property since XX/XX/XXXX until XX/XX/XXXX when we were informed by a Industrial Hygienist/Environmental Air Quality Company at the request of my homeowners insurance. It was determined that the insulation was gassing off formaldehyde over the legal limits. My homeowners insurance and my business disruption insurance denied all of my claims due to construction defects. Me and my XXXX boys, including XXXX with XXXX and family dog ; in addition to a tenant have been staying in a hotel in XXXX, TX after this immediate evacuation. I have also began Criminal filings and pursuing all legal remedies allowed by law that include filings with the XXXX Police Department White Collar Crime Division and District Attorney regarding BOA 's employees illegal and criminal acts that have caused bodily harm to my family and financial damages, the employees of XXXX XXXX XXXX and disrupted my means of supporting my family. It is one thing to lose money on a deal but it is another to affect the health of innocent people especially my children due to financial fraud. My family is displaced and this is just unacceptable.

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