Consumer complaint received 2018-03-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I am writing to request correction of the error described below and to STOP the Trustees Sale scheduled for XX/XX/XXXX. This is in regard to the mortgage on my property at XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX. Per the Consumer Financial Protection Bureau, your company must respond to letter before the foreclosure sale.

Because the trustee assumes the liability in auctioning the property in California a non-judicial foreclosure state, it would be in the trustees best interest not to foreclose on the property due to the following potential violations discovered before the Auction Sale Date.

- The Trustee failed to issue a notice of default. The notice of default was done prior to ( you ) the trustee being assigned. This is a clear example of foreclosure laws and procedures.

- Your company has violated the Consumer Finance Protection Bureau by Duel Tracking a foreclosure date after a complete loss mitigation application was received more than 37 days prior to a sale date. Your company denied my loan modification appeal on XX/XX/XXXX ( see attached ).

- Your company duel tracked a foreclosure date during this process of XX/XX/XXXX. You are required to provide more than 37 days after such denial to the consumer before scheduling such foreclosure sale date.

The CFPBs existing rules prohibit servicers from taking certain actions in foreclosure once they receive a complete loss mitigation application from a borrower more than 37 days prior to a scheduled sale. However, in some cases, borrowers are not receiving this protection, and servicers foreclosure counsel may not be taking adequate steps to delay foreclosure proceedings or sales. The CFPBs new rule clarifies that, if a servicer has already made the first foreclosure notice or filing and receives a timely complete application, servicers and their foreclosure counsel must not move for a foreclosure judgment or order of sale, or conduct a foreclosure sale, even if a third party conducts the sale proceedings, unless the borrowers loss mitigation application is properly denied, withdrawn, or the borrower fails to perform on a loss mitigation agreement. The clarifications will aid servicers in complying with, and assist courts in applying, the dual-tracking prohibitions in foreclosure proceedings to prevent wrongful foreclosures.

- Your company has failed to acknowledge receipt of a NEW complete loss mitigation application received XX/XX/XXXX on your website loanhelpstatus.bankofamerica.com and open a new loan modification process.

-Your companys customer relationship manager XXXX XXXX onXX/XX/XXXX said that none of the documents from XX/XX/XXXX have been reviewed. The documents need to be resubmitted. The same documents were submitted and completed on XX/XX/XXXX.

-Your company must stop the foreclosure sale date on XX/XX/XXXX to prevent wrongful foreclosure a complete violation of the dual tracking regulation by the Consumer Financial Protection Bureau .

If you need to contact me, I can be reached at : Phone : XXXX email : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX Sincerely, XXXX XXXX

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