Consumer complaint received 2019-04-11
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
The issue we are having is obtaining a mortgage satisfaction on a home equity loan that we took out in XXXX through XXXX XXXX Bank in New York that is no longer in existence. We discovered this when we applied for a new Home Equity Line of Credit at another bank. We were told by the representative that no Mortgage Satisfaction was registered on the XXXX of New York Register. I looked on the XXXX Register website, XXXX, and discovered that this was indeed the case. 
As previously mentioned the loan was initiated at XXXX XXXX Bank in XXXX. This loan was then turned over to 3 more banks during the term of the loan ; namely, XXXX XXXX Bank, XXXX Bank, and lastly Bank of America. I have documentation to prove that these were the banks that held the loan over it's term. I also have a letter and a 1099 interest statement indicating that this loan was PAID IN FULL from the last bank that held this loan -- BANK OF AMERICA. 
On XX/XX/XXXX, I called Bank of America loan department and explained that I was not issued a mortgage satisfaction from their bank when the loan was paid in XXXX. I was given a reference number and told to fax the copy of the mortgage to them. I faxed them the mortgage ( 23 pages long ) and was told that they would have an answer in 15 business days. I called them on XX/XX/XXXX and was told that although the loan was paid they were not able to register a mortgage satisfaction because the mortgage was not registered by the 2 previous banks, XXXX XXXX and XXXX. Bank of America didn't register it either. ( I didn't believe what they said because the very first mortgage we had when we purchased our house changed banks once and we received the mortgage satisfaction without any issue! ) Then on XX/XX/XXXX we visited a local Bank of America, XXXX XXXX branch, in XXXX. New York. Two of the representatives there helped us file another request. We sent them one of the letters dated XX/XX/XXXX, indicating that the loan was paid. In addition, we submitted a copy of the Detailed Document information from the Office of the XXXX Register website ( XXXX ) of the mortgage from XXXX XXXX Bank. In the remarks section of this document it should state that the loan was discharged ; however, since no mortgage satisfaction was registered this could not be indicated. Today on XX/XX/XXXX, I received a letter stating that our loan release request has been cancelled and stated that BANK OF AMERICA DID NOT ACQUIRE OR OWN THE LOAN. Upon receiving this notice I again called their customer service number. The representative reiterated what was stated in the letter and then told me to call XXXX XXXX Bank since they took over XXXX XXXX Bank. The representative gave me the phone number for XXXX XXXX. We called XXXX XXXX and they don't even have a mortgage department anymore. I was given an address to send our request to however ; we feel it is a complete waste of time since we never made a payment on this loan to XXXX XXXX. It is true that XXXX XXXX was acquired by XXXX XXXX and XXXX XXXX was acquired by XXXX  XXXX BUT they did NOT acquire this loan. I have the documents to prove it. We are extremely frustrated with this situation!

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