Consumer complaint received 2017-11-06
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
This is the 6th of related CFPB complaints submitted to Bank of America and XXXX XXXX XXXX, its current mortgage servicer for a mortgage under my name, XXXX XXXX XXXX, in the address XXXX XXXX XXXX, Unit XXXX, XXXX, MA XXXX. The mortgage was securitized into a XXXX XXXX XXXX XXXX XXXX or XXXX, particularly the XXXX XXXX, XXXX XXXX XXXX, wherein it is the MASTER XXXX and is currently managed by Bank of America, instead of XXXX XXXX XXXX XXXX XXXX 

Both XXXX XXXX XXXX and Bank of America have been subject of my complaints to CFPB but have continually failed to disclose the fact that the XXXX had already paid-off all principal owing on the {$270000.00}, a fact that is achievable via distributions from at least four sources : 1 ) my own mortgage payments, 2 ) the mortgage payments passed through by the other participants in the XXXX XXXX XXXX, 3 ) proceeds from the buyers of the XXXX XXXX XXXX, and the distribution from XXXX settlements against Countrywide via the Multi-state AGO and FTC lawsuit ( made on XXXX XXXX ) and the XXXX settlement against Bank of America via the FTC/OCC/SEC lawsunt ( completed as of XXXX XXXX ). In fact, XXXX  XXXX XXXX has refused to collect mortgage payments from me since XXXX XXXX as a servicer for XXXX XXXX - my mortgage originator. XXXX XXXX has also had no more records of my loan wherein there indicated However, Bank of America and its servicers, including XXXX XXXX XXXX continue to use the mortgage instrument I signed in XXXX XXXX, XXXX to pass-through interest payments and principal payments amongst all of their other consumer loans that was and is still being securitized up until now -- - not just home mortgages. In order to do so, Bank of America and its servicers, including XXXX XXXX XXXX, are generating inaccurate billing statement addressed to myself but is under a totally-different mortgage contract which was different from what I have signed back in XXXX XXXX, XXXX. 

It is a widely-known fact THAT MORTGAGES IN A XXXX ARE NOT SUPPOSED TO CHANGE OR GET MODIFIED FOR A LONG TIME. And yet Bank of America, together with its servicers have been finding ways to deceive and skirt this fact for over 10 years now in order to benefit from pass-through of principal payments and dividends into the other assets in the Bank 's portfolio -- - a process that is illegal according to the Office of the Comptroller of Currency. 

Bank of America refuses to provide documents of the payment distributions in the XXXX XXXX XXXX that shows an accounting of the real history of my mortgage and also refuses to provide the security certificate that is rightfully mine under SEC Rules. Instead, the Banks continue to use my Social Security Number as a tax-payer shelter from the fact that they are benefitting from the IRS-shelter provided by XXXX  to homeowners. Worst of all, since XXXX, Bank of America, including XXXX XXXX XXXX continue to harrass me with foreclosure notices including a foreclosure sale that is supposed to happen on or after XXXX XXXX, XXXX. 

Bank of America had also referenced in all the CFPB responses that " the issue has been part of an arbitration '' based on their research. This issue has never been part of any arbitration, and this issue is never the subject of any arbitration clause.

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