Consumer complaint received 2021-09-11
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Background : Since my mortgage was originated in XX/XX/XXXX, I have made on time, regular advance payments since then ; i.e. a payment I make on the first of the month, such as XXXX, is for the mortgage payment due XX/XX/XXXX so I always remain one ( 1 ) month ahead. I also make scheduled extra principal payments which are on the XXXX of each month. 
I bank with Bank of America ( BoA ), who also holds my mortgage, so payments are made by direct, online funds transfer between Bank of America and its mortgage subsidiary. 
On Sunday, XX/XX/XXXX, I received an e mail notice from BoA that my mortgage payment for XX/XX/XXXX was due soon. When I researched my online records, BoA had misapplied my XX/XX/XXXX mortgage payment, which would have covered the XX/XX/XXXX payment. They misapplied it as a principal only payment. Realizing their error, I made an additional, online payment XX/XX/XXXX to avoid further issues caused by their misclassifying my payment and to avoid the risk their system would have recorded a missed mortgage payment. On XX/XX/XXXX I also contacted BoA to alert them of the error and although they admitted their mistake, they assured me they would rectify it. 
There are three ( 3 ) sources of financial information for my mortgage which BoA utilizes. These are ( 1 ) the online Activity by date ( bookkeeping-type system ) which we as the mortgage holder access online, ( 2 ) our monthly mortgage statements, and ( 3 ) an internal ledger which BoA uses. I obtained a copy of this recently from BoA as the online Activity by date was not reconciling with what the customer service representative was reading from their internal ledger. Of note, various representatives have commented as to the problems they encounter with this Activity by date online system since it was instituted in XX/XX/XXXX. The prior one they utilized did not have these issues and was timely. 

Problem : 1. ) I still do not have a clear picture as to my mortgage accounts current status. XXXX online Activity list, their monthly statements, and the internal ledger ( which I requested ) are not reconciled and it is impossible to get an accurate and timely picture of my accounts position. I have made at least five ( 5 ) phone calls to BoA since their error to obtain transparent information and it is still unclear what the accounts actual status is, and the accounting entries are vague w/ multiple errors. 
2. ) It is imperative that I, as well as other mortgage holders, have accurate, timely and clear financial information and as a bank, that is part of BoAs servicing rules responsibility.

3. ) Given items # 1 & 2 and the unclear financial information, along with the fact I have now made 2 extra mortgage payments, I do not know what my current payment status is and no one at BoA has reached out to discuss with me. I have reached out multiple times to BoA and, although I appreciate the customer service reps explaining what they are able, they are limited in what they know and can articulate. I have a XXXX XXXX in XXXX, so it is concerning to me when I witness these types of occurrences and no one at BoA, such as an auditor or manager, caught this until I brought it to their attention. 
4. ) I would be happy to supply CFPB with supporting records, should you feel they would assist in your investigation. 
Of note : BoA possesses all the documents and information listed above.

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