Consumer complaint received 2019-06-15
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
1. This date being XX/XX/XXXX my name is XXXX XXXX and I am the owner of XXXX XXXX XXXX in XXXX, New York zip code being XXXX. This letter serves as a complaint against Bank of America my loan number being XXXX. In my CFPB complaint dated XX/XX/XXXX I had 3 concerns regarding the lender and although 2 out of 3 have not been sufficiently addressed and are debatable. One concern sets precedence over the other 2 concerns. The complaint stems from a response received by the institution in a letter dated XX/XX/XXXX regarding the Additional Late Fee charge. The response letter indicated that according to my Note the institution is entitled to charge an additional fee. I retain no documents to reference the institutions claim. In addition, the institution responded in XXXX to the same complaint which is contradictory to their present response. Bank of America is charging Non Bona Fide Fees which is a violation of RESPA CFR 1024.35 ( b ) ( 5 ). In addition to late fees of {$12.00}. Bank of America forwards 2 notices each month requesting additional fees now totaling {$200.00}. ( SEE ATTACHED Notice ) 2. On XX/XX/XXXX I initiated a complaint against Bank of America through the CFPB citing the Additional Late Fee charge. During this period the additional fees had totaled {$71.00}. Bank of Americas response was according to their records, my loan was due for the XX/XX/XXXX installment and is in default status. As of the date of the letter, my loan has not been referred to our foreclosure department. Their research indicates that two of the payments were received in XXXX did not include the total amount needed to cover the full monthly mortgage payment and/or the late fee. In addition, a table was provided to show breakdown of the monthly mortgage payment amount due, the amount required to cover the payment due including the late fee, the amount the bank received and shortage amount that was needed to fulfill the payment including the late fee assessed. 
( SEE ATTACHED CFPB Complaint, Banks Response, XXXX Late Fee Notice ) 3. In XXXX, Bank of America states within their response that in accordance with my note, if they dont receive sufficient funds before the normally scheduled installment due date including a 15 day graces period, the account will be considered past due. Their records reflect that monthly mortgage payment for the account has been received after the 15 day grace period several times, as a result, they have assessed late charges. In addition, they have respectfully declined my request to waive the additional charges. ( SEE ATTACHED Complaint Letter and Banks Response ) 4. Background : In or around XXXX original mortgage lender was XXXX XXXX. In or around XXXX Countrywide   refinanced my original mortgage. In XXXX Bank of America took possession of Countrywide XXXX XXXX and all of its accounts/customers. I retain 2 modification agreements with Bank of America. 

5. In closing : First, Bank of America was not my initial mortgage lender. Second, I initiated a complaint in XXXX and XXXX against Bank of America regarding the Additional Late Fee. In XXXX, the bank states 2 payments were received and did not include the total amount needed to cover the full monthly mortgage payment and/or late fee. In XXXX, the bank states that according to my Note they are required to charge an additional fee after the standard late fee has been paid. Third, we can ascertain the bank has 2 different versions on why they have been trying to collect an Additional Late Fee. Obviously, one version has nothing to do with the other.

6. In a letter dated XX/XX/XXXX Bank of America stated that I am paid through XX/XX/XXXX which conflicts with their response in XXXX ( SEE ATTACHED ). Currently, I am paid through XX/XX/XXXX. However fast forward to their response in XXXX, Bank of America stated according to my Note they are required to charge an Additional Late Fee. I am respectfully requesting Bank of America to provide a copy of the Note within their agreement which states the regulation regarding the Additional Late Fee that I signed, dated, and had notarized. Please be advised that I retain all documents from all mortgage lenders and or servicers. I have researched the banks response to their alleged Note that states I am required to pay an Additional Late Fee and as a result do not possess such documents. 

7. Therefore if I do not possess such copies of an agreement in my possession to reference that I am entitled to pay additional fees on top of additional fees or Bank of Americas agreement does not match my documents, then I am respectfully requesting Bank of America to disregard those charges. I am not asking for courtesy but rather what is lawfully feasible regarding this matter, if Bank of America is Really There to Help.

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