Consumer complaint received 2022-08-05
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: SC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
I am filing a complaint against Bank of America for its improper, undisciplined and reckless handling of our home mortgage closing in XXXX, XXXX. Below is a description of what happened. 
- My husband XXXX and I were pre-approved for the mortgage on XX/XX/XXXX ( pre-approval letter attached ). We requested to close on XX/XX/XXXX. 
- On XX/XX/XXXX, XXXX contacted Bank of America to move forward on the mortgage process, since we had not heard from them on next steps. ( XX/XX/XXXX email attached ) - All correspondence with Bank of America regarding the loan was done through a secure email service, and the messages are deleted by the bank after 1 week, so we don't have all of the correspondence with the Bank between XX/XX/XXXX and XX/XX/XXXX. To summarize, XXXX and I provided our requested documentation in late XXXX and early XXXX. We heard little from the bank during this time. As we neared closing, we received additional requests for obscure documents that had not been requested previously. 
- XXXX requested a call with our loan officer, XXXX XXXX, on XX/XX/XXXX, as we had not received any notification from Bank of America that let us know if the loan was closed or not, and the data on the online loan processing portal was out of date. XXXX told us that we had provided all of our documentation, but the Bank had some outstanding paperwork to complete. He was not concerned about missing the closing date of XX/XX/XXXX. 
- On XX/XX/XXXX, we began getting calls from our title company and real estate agent, asking what was happening with the closing paperwork. 
- On XX/XX/XXXX at XXXX PM, our real estate agent received an email from Bank of America requesting additional updates to documentation! ( Attached email for XXXX and XXXX correspondence with the real estate agent provides details. ) All requests to provide signatures on documents were incorrect - Bank of America already had the signed documents. In some cases, we had provided the signed documents multiple times. 
- In the end, B of A said we could not close because the XXXX addendums to the purchase agreement ( created by their request ) were numbered incorrectly. Instead of being numbered Addendums 1, 2 and 3, two of the addendums were numbered with the same number. B of A required the real estate agent to correct the numbering and have XXXX, me and the seller initial the changes via XXXX before we could close. Addendums with updated numbering were sent to the bank late on XXXX,, and we completed the XXXX process the morning of XXXX. The request was ridiculous and last minute. 
- Meanwhile, I spent over an hour trying to contact Bank of America the evening of XX/XX/XXXX trying to get a status on our closing. After escalating to a supervisor, someone from B of A called us and said we were cleared to close. The next day, we learned that was not the case. 
- An email describing the problems still open between Bank of America at XXXX AM the day of our closing is attached. At that point, the title company still had not received closing paperwork from the bank and was having difficulty even reaching a contact at Bank of America. 
- Closing documentation was finally provided mid-afternoon. It was inaccurate and had to be corrected. 
- The final loan amount was provided at XXXX PM. We wired the money to the title company, but it did not clear until Monday, XX/XX/XXXX, due to Bank of America 's latency in providing the figure. 
- At that point, I had to find an available mobile notary and pay for the service so the loan documents could be signed at our home. This was extremely distressing. Given the limited time, we did not finish printing and signing the documents until XXXX PM on XX/XX/XXXX. We had to drop the documents at XXXX by XXXX PM to complete the closing on XX/XX/XXXX, or the loan would have had to be re-done. We completed the drop off at XXXX at XXXX PM. Needless to say, Bank of America put us through a tremendous amount of turmoil.

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