Consumer complaint received 2021-07-29
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TN
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
XX/XX/XXXX, started refinance process with Bank of America for a 15 year loan at 2.375 %. Excellent candidates both me and my wife with high 760+ credit scores and good income. Multiple back and forth notes on their mortgage portal from me and the loan officer verifying everything had been completed for review. ( Printed copies ) XX/XX/XXXX loan officer says " underwriting has completed their review.. '' " ... no items needed from you at this time. '' " Now we just sit and wait on the title company and the processor to complete. '' " This will take several weeks. '' XX/XX/XXXX was my home expectation day that cost me {$610.00} which turned out great because my home was valued at {$9000.00} more than we estimated. I write a note on mortgage portal on XX/XX/XXXX getting an update on how the process is going. XX/XX/XXXX response from loan officer in total " Your loan was picked up in a review and unfortunately we will not be able to proceed with your application at this time due to risk found. I do not have the details to provide but you will receive a formal decline letter in the mail. '' XX/XX/XXXX I speak with his manager to verify it was not a mistake and informed it was no mistake and she could not tell me why because its handled in underwriting which she doesn't have access too. I could reapply for loan but my account would be red flag in future applications. Also she could not discuss what the new rates were for that day. She said I'd receive a denial letter explaining my denial in the mail. XX/XX/XXXX I posted a question on portal asking when my application was picked up and denied and was I informed same day. ( I asked this because if it was before my appraisal I should have been informed so I could cancel the appraisal and save that {$610.00} ) This question has been left unanswered. Posted a new message on the portal on XX/XX/XXXX after I left the manager a voicemail and stated it is now XX/XX/XXXX with still no denial letter received in the mail. I deserve an explanation and expect a direct callback from her or her supervisor. The original loan officer responded back on XX/XX/XXXX stating the same message about my loan was picked up in a review an denied and this time left the managers name and number to call. On XX/XX/XXXX I answered that portal message by mentioning I've left that manager multiple voicemails with no return calls. I now require her supervisor name and number. I've still not received a denial letter. I also asked " As my lender, can you tell me why I have been turned down for this application. " ( Reasoning behind this question is after researching this I came across the Equal Credit Opportunity Act ) Unfortunately this message is still unanswered and it is now XX/XX/XXXX. I feel I have been discriminated by this bank and have no where else to turn and believe this needs to be reported.

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 monetary relief