Consumer complaint received 2021-03-31
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: OH
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Bank of America is not consistent with the dates it cuts the mortgage statements. Additionally, they do not even wait for the escrow shortage to be made within allowable timeframes and instead send bills for amounts as if the shortage had not been made when it was. 
For many months now I see BofA cutting my statement and sending it to me the exact same day that they receive my payment no matter how early I make it -- - making it very difficult for me to know when the next stmt will cut. My XX/XX/XXXX stmt was cut on XXXX - the exact date that my XXXX pmt was made. This stmt said next pmt due XX/XX/XXXX. My XX/XX/XXXX stmt was cut on XX/XX/XXXX - the exact date my XXXX XXXX posted and that XXXX said next pmt due on XXXX. My XXXX stmt was cut on XX/XX/XXXX - the exact date my XXXX XXXX was posted and that stmt said next pmt due on XXXX. Then I receive my annual escrow analysis ( dated XX/XX/XXXX ) which has a shortage due on XX/XX/XXXX. I send the shortage and the check clears my bank on XX/XX/XXXX ( well before the XX/XX/XXXX due date ) - so BofA probably had it the day before. Anyway, my XXXX XXXX posted on XX/XX/XXXX so true to form the XXXX stmt cuts on XX/XX/XXXX. The next pmt due on XXXX per that XXXX stmt is XXXX which is the amount that would have been due if I had not paid the escrow shortage of {$540.00} which, as I said, cleared my bank on XX/XX/XXXX. So seems to me as if they had the escrow pmt on XX/XX/XXXX and it should have been reflected on the statement. If nothing else, If BofA would have waited until XX/XX/XXXX to cut the XXXX statement XXXX instead of cutting it so early ) they should have been able to have the escrow shortage payment reflected on the account ; and then the XXXX XXXX would show a pmt due XXXX of {$1700.00} ( the amount that it should be BECAUSE I PAID THE ESCROW SHORTAGE ON TIME!!! ). So when I called XXXX XXXX from Texas - which I serious doubt ) at XXXX number on XX/XX/XXXX at XXXX pm, and asked him to send me a corrected bill he said he could not. He said they have had computer issues and with bills cutting early and late and they are working on it. I said they sent me an incorrect bill and asked if he could send me a corrected one. It was their mistake. He said they can not do that b/c their system will only show the old bill. Well to me it looks like they are trying to bill me in advance and over bill me because they send the bill too early before applying the escrow shortage. Seems a little predatory to me. They should be consistent with their billing. They should allow the full month for payments to be applied especially when they have escrow shortages due. They should fix their computer systems. If I wanted to make extra principle payments after my regular payment but in the same month - I don't see them on my statement for that month. It used to be better - now it's not.

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