Consumer complaint received 2021-08-14
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: OH
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
This realtor is a terrible two faced liar and a blatant thief. Please help with an investigation into this real estate transaction scam pulled upon XXXX XXXX. The Bank of America loan officer XXXX XXXX from XXXX XXXX Arkansas knew that this realtor was up to no good because this very loan officer XXXX XXXX told XXXX XXXX over the phone 48 hours before closing that realtor XXXX was violating her realtor ethics but did nothing to abate it in direct violation of XXXX XXXX fiduciary protections/interests. 

XXXX XXXX XXXX XXXX is available for any and all questions that may arise from this 1st Amendment petition to submit his grievances and complaints to the proper authorities. Bank of America and the loan officer XXXX XXXX who processed, vetted, and approved this fraudulent loan, including this terrible scamming realtor from XXXX Texas who targeted XXXX XXXX with her misrepresenting contracting, mandatory disclosures, and obligations to ensure all parties involved in a transaction are fairly and fully informed and treated with honesty and integrity which was non existent in this deal. Relief is accordingly being sought by this complaint process. 

XXXX XXXX will now seek out the FBI and local state law enforcement to aid in reviewing this deal gone bad for felony and miscellaneous misdemeanors that may be charged. Thank you for your time. 

XXXX XXXX XXXX XXXX. Statement of Facts XXXX XXXX, XXXX XXXX. On the XXXX XXXX, XXXX, XXXX XXXX XXXX ( the XXXX  XXXX ) and a Seller/Builder ( XXXX XXXX XXXX XXXX XXXX ) contracted through XXXX XXXX ( the Realtor XXXX ) contract ( See Attached Contract ). The Contract will show, including by the Realtor XXXX own statements and her admissions, that this contract used in this deal was a product of omission and deceptive tactic/techique. The contract was signed by all parties involved including realtor XXXX own signature. I, the XXXX XXXX allege that the XXXX XXXX wrongfully earned {$5000.00} dollars as commission in the sale of this home. The home address is XXXX XXXX XXXX, XXXX XXXX. I, the XXXX XXXX, do not know what motivations or intents the Realtor XXXX possessed when she produced this Contract? How could a reasonable realtor omit HUD income guidelines from a buyer and the bank? These terms and conditions are material to purchase this home.

2. Closing on the home took place with XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, Texas, XXXX, on the XXXX XXXX, XXXX. XXXX XXXX possesses all the original documents of this matter at their office if this Honorable Court may need to subpoena some of these papers. XXXX XXXX, XXXX, paid all costs associated with this deal. The XXXX XXXX paid the termite and home inspection ( {$350.00} ), I believe the survey too ( {$300.00} ), the appraisal ( {$500.00} ), option money ( {$50.00} ), and earnest money ( {$1000.00} ). During this timeframe, the Covid 19 epidemic broke out into full-fledged motion over American life ( XXXX thru XXXX XX/XX/XXXX ). On the closing date, the XXXX XXXX placed an additional {$42000.00} dollars on the principal loan amount. 

B. Cause of Action for Breach and Possible Fraud was Discovered 3. This cause of action is based on contract omission and fraud during the loan approval process. The official date of discovery of the contract omission and mortgage fraud were on the XXXX XXXX, XXXX. On this date, I, the Veteran XXXX discovered that HUD income limitation guidelines applied to buy this home, and the terms and conditions applicable to HUD income limits were omitted from contract. HUD language never appeared in or on the contract itself ( See Attached Contract ). Realtor XXXX failed to produce a sufficient contract disclosing HUD and income limits which violated XXXX, XXXX XXXX financial interests, property interests, and civil rights in general because XXXX XXXX would not have signed this Contract if aware of what this problematic home was about. I XXXX XXXX should have been aware of everything about this home before signing this contract authored by XXXX XXXX of the HUD income limits before signing the contract. Bank of America also was denied knowledge that this home was a HUD home. Realtor ethics were never on display ( Standards of Practice for realtors ) in this real estate transaction, including the preparation of the contract.

4. Honesty and integrity are words of wisdom taught in real estate ethics classes ; one has to wonder why this Realtor XXXX would imagine omitting the fact that this was a HUD home, and not placing a single word about HUD in the contract is ethically trivial? The income limits should have been expressed by words in the contract itself to give fair warning to all parties involved ( HUD Income Limits in XXXX XXXX are around {$48000.00} dollars per year ). Loan officer XXXX XXXX knew the realtor XXXX was up to no good, but never attempted to call realtor XXXX out before approval this unlawful loan. XXXX XXXX exceeds the income limits by several thousands of dollars, and wonders how realtor XXXX thought it to be proper to conceal this material information pertaining to HUD and incomes? Realtor XXXX did defraud XXXX XXXX and the bank knew what she was doing and did not try to abate it. Hence, this complaint is needed so the Inspector Generals Office and the XXXX XXXX can establish a formal investigation to discover the wire fraud, mortgage loan fraud, and contract fraud committed against XXXX XXXX. 

5. XXXX XXXX now is in legal jeopardy, both criminal and civil for buying this home because of this scam pulled on a first time home buyer. The relief being sought here is to be placed back in the same position XXXX XXXX before signing the contract in the first place. I, XXXX XXXX never bought a home before. After closing on the home, XXXX XXXX figured out the scam after the fact and have been trying to vindicate his civil rights ever since with no assistance from Bank of America, loan officer XXXX XXXX or realtor XXXX herself. XXXX XXXX has been stressing, both mentally and financially, ever since because this Realtor XXXX and loan officer XXXX XXXX have both refused to reply or answer Veteran Marreros calls or texts for aid and assistance to remedy the fraud committed.

6. Real estate fraud occurs when one party to a real estate transaction falsely represents ( or omits ) materially relevant information from the other party during contracting and loan approval process. Real estate fraud occurs in many contexts, including during initiation of a contract which then start the bank vetting of the home all the way to the loan approval process. In both of these instances misrepresentation did occur which needs repair asap. 

7. XXXX  XXXX discovered the contract omission after closing on the home had taken place with Allegiance Title ( See Attached Contract and take Notice that HUD nor Income Limits language are Not in the Contract ). Soon thereafter XXXX XXXX discovered that this home was indeed a HUD home with income limits that XXXX XXXX exceeded. Realtor XXXX failed by contractual means or verbally/orally means to apprise XXXX XXXX and Bank of America that this home was subject to HUD income limitations. XXXX XXXX did not want to buy no junk HUD home, which this home turned out to be. As it stands at this moment XXXX XXXX is now in violation of HUD home guidelines. XXXX XXXX has been stressing ever since with mental anguish do to possible financial jeopardy and criminal sanctions for buying this stupid HUD home by illegal means. XXXX XXXX seeks relief by and through this complaint and action at law which is one of several means for the redress of the said damages caused by this fraud.

8. The Standards of Practice for realtors teaches realtors that honesty and integrity must be on display at all times when contracting with parties. Loan officer XXXX XXXX from Bank of America did not attempt to protect XXXX XXXX financial interests. XXXX XXXX was a client to Bank of America, and this bank failed to protect XXXX XXXX  fiduciary interests. XXXX XXXX believes it was very unreasonable and very incompetent of realtor XXXX to omit the HUD language from the contract. Now, XXXX XXXX is subject to penalties because of legal jeopardy for buying this stupid HUD home. HUD and VA XXXX Loans are Federal regulated programs, and the Inspector General should faithfully investigate this debacle of a deal pushed up XXXX XXXX. This real estate transaction was worth {$200000.00} dollars. Realtor XXXX misled XXXX XXXX, misled the bank, but the bank let her do this without proper oversight. XXXX XXXX illegally earned {$5000.00} dollars commission by selling this home by whatever means she thought necessary make this unlawful sell. 

9. XXXX XXXX believes realtor XXXX owes a swift answer to an Inspector General investigator to find out how and why she left HUD and income limits out of the contract itself? The contract did not inform XXXX XXXX about anything, and could not make a competent decision without these terms being incorporated into and infused into the contract? If realtor XXXX sells HUD homes that are contingent to HUD income limit guidelines, then, the contract should expressed these terms and conditions in writing so can make a finding of those material facts. Texas state law says that all real estate transactions must be in writing. 

C. Texas Contract Law Argument in Support of XXXX XXXX Remedy for Relief 10. Realtor XXXX is a terrible sales person. Her real motivations and intents were to scam the bank and XXXX XXXX assuming that XXXX XXXX would not figure it out. This VA should contact XXXX XXXX as soon as possible after this complaint is filed with the VA so no more is lost. Realtor XXXX own statements and admissions will be attached to this complaint to the VA Home Loans Department so the VA can draw their own inferences on what to think about this contract produced by realtor XXXX. This Complaint should prove that HUD or income limits were not discussed in the contract, in which XXXX  XXXX seeks relief by reversing this loan approved by Bank of America and loan officer XXXX XXXX. XXXX XXXX should be eligible to recover from all financial obligations placed upon him by this mortgage and unlawfully approved loan with the appropriate damages that may be necessary. The contract used in this matter failed to use any language that would specify that it was a HUD home that had income limits to buy this home. XXXX of this outright fraud is accordingly being sought. 

11. XXXX  XXXX will allow the VA Home Loans Department to assess everything that has been said here, and XXXX XXXX will be standing by for any questions from any Inspector General Representative. XXXX XXXX looks forward to discovery or any other process that will be needed to obtain restitution for the damages caused and sustained up to this point. Also, the VA Home Loans Department will have to determine and assess whether the FBI or other law enforcement may be needed to assist in figuring how this fraud was allowed to occur. The VA Home Loans will have a copy of everything to review and determine if loan officer XXXX XXXX should be charged with a mortgage loan approval fraud. 
XXXX XXXX 12. XXXX XXXX is asking VA Home Loans department to award relief such as suspending any further payments to Bank of America until review and relief can be given. XXXX XXXX wants to rescind the contract. This will relieve XXXX XXXX from anymore civil sanctions, monetary losses, or criminal penalties. 
I, XXXX XXXX XXXX XXXX, declare under the penalty of perjury that the foregoing Complaint is true and correct.

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