Consumer complaint received 2018-04-30
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Loan sold or transferred to another company

Complaint:
Purchased XXXX XXXX XXXX Boat HIN number XXXX XXXX   and XX/XX/XXXX Competitive Trailer License Plate number XXXX  Serial number XXXX  from XXXX XXXX XXXX  XXXX XXXX XXXX XXXX. XXXX  CA XXXX  Purchase Date was XX/XX/XXXX XXXX XXXX  was the Lienholder On XX/XX/XXXX. I received a letter from Bank of America Bank of America became the new lienholder but they never notified the DMV that they had purchased my installment loan from XXXX XXXX. This provided the window of opportunity for the DMV employee to use to steal my boat and trailer.

The letter Bank lf America sent to me was to notify me that they had purchased my installment loan from XXXX XXXX for $ XXXX.and my paymsnts would go to them from that day fprth and to notify my insurance company, XXXX immediately that they were the new loss payee 's.

So, why didn't they secure my investmemt and make it a legally binding contract. Instead they created an obstacle that made it impossible for my worker 's compensation lawyer to locate the boats whereabouts and allow me the right to secure an alternate source of funding which is guaranteed to me by the law as part of due process. They sacraficed my equity by failing in their responsibility to me to keep the DMV informed.

My boat registration that was issued on XX/XX/XXXXremained current until XX/XX/XXXX. It still reflects XXXX XXXX in the lienholder position. How did they get me into court? And how can XXXX  Police male a statement such as the one they made referring to the boat being in the process of repossessio. How does one repossess something that is not even in their name? XXXX XXXX remained on title as lienholder through XX/XX/XXXX.when the boat was stolen. This created a huge problem. Bank of America had to go back to court six months after the boat vanished and show the court that the tranfsfer took place and then the bank had to go back to get the abstract of judgement against me as an individual Instead of my boat.

A DMV employee stored my boat and trailef at his property at XXXX XXXX XXXX from XX/XX/XXXX to XX/XX/XXXX. When I went to pick up the boat on XX/XX/XXXX, it was gone. The DMV employee said the lienholder had picked [ t up.

This new information was revealed to me this year, XX/XX/XXXX. The DMV employee was arrested on '' XX/XX/XXXX. Case number XXXX. Arrest number XXXX Superior Court of California , County of XXXX. The XXXX agency was XXXX XXXX XXXX XXXX XXXX XXXX The DMV who had been storing my boat and trailer XXXX XXXX XXXX was arrested for one count of Making a Perjerious Statement and three counts of Forged Instruments resulting in a conviction on one count of Forged Instruments. That day, my boat and trailer valued at {$32000.00} was not confinscated because XXXX XXXX had failed to notify the DMV that they no longer held a financial interest in the boat and trailer since they were paid off in XX/XX/XXXX as indicated by Bank of America 's letter to me from XX/XX/XXXX. Over five years earlier. The boat and trailer were left in the possession of this man, XXXX XXXX XXXX  who filed a false mechanics lien with DMV for {$3000.00}, claiming the lienholder chose not to pick up their collateral which is by no u certain terms what the bank told the police and the DMV on XX/XX/XXXX. I worked with DMV IA to have the lien removed from being processed but the boat vanished with new numbers on the hull.

A report from XXXX  Police eztablished that my boat trailer is in the possession of a man in XXXX named XXXX XXXX XXXX, still in my name, with the same license plate number, registered to an address XXXX XXXX XXXX XXXX XXXX CA with a forged release of liability allegedly signed by me. I never signed anything, nor was I notified of the {$3000.00} mechanic lien, XXXX XXXX XXXX 's arrest  or the boat trailer 's possession by XXXX XXXX XXXX. I have researched him and he has several addresses on file for XXXX XXXX XXXX : : XXXX XXXX XXXX XXXX XXXX CA ; XXXX XXXX XXXX XXXX XXXX, CA ; and very likely, XXXX XXXX XXXX XXXX XXXX  Ca. Bank of America has a judgement in public record that is ruining my credit and due to the failure of both banks to be accountable for their shortcomings, criminally and civilly by my liss of due process and equal prorection of the law need to be made accountable. Bank of America got a judgement against me and collected tax credits by claiming my boat as lost when my boat has never been reported stolen or entered into the Stolen Vehicle/Vessel Recovery System and without ever having put themselves in the legal lienholder position on title with the DMV. My boat has a clear title and I expect it to be returned or compensate me for my loss of equity and the interuption of my pursuit of happiness for fourteen years. Bank of America 's stance of requiring a subpeona for me to access my own records through their Prote tive Intelligence Inveztigation Division is no more than what amounts to another civil violation : The Freedom of Information Act.

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