Consumer complaint received 2017-09-21
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Bank of America has n't resolved a serious issue. 

Consumer Financial Protection Service Bureau Case #  XXXX XXXX : Loan ending in XXXX Bank of America XXXX XXXX XXXX XXXX XXXX, NC XXXX Dear Consumer Financial Protection XXXX  Bureau Case # XXXX : This letter is a response to Bank of Americas response regarding this case number. This issue hasnt been resolved by Bank of America. Theyd like to think they have resolved but they have not. 
This is in response to Bank of America letter dated XX/XX/XXXXXXXX by XXXX XXXX. I felt it very important to include the paragraph from her letter. 
Our research reveals that prior to your loan being service released to XXXX XXXX XXXX XXXX XXXX, the loan was paid through the XX/XX/XXXX installment. The last installment was received on XX/XX/XXXX in the amount of {$850.00}, which was applied to theXX/XX/XXXX, installment. Per your request we are including the table below, which provides loan details prior to the loan being service released. 
1. XXXX XXXX XXXX provided false/incorrect information. My final payment to Bank of America was XX/XX/XXXX. I issued a Bank cashier check on XX/XX/XXXX, mailed it onXX/XX/XXXX and it was signed for by Bank of America onXX/XX/XXXX. The check was cashed by Bank of America on XX/XX/XXXX. I have provided documents proving those dates and that XXXX XXXX XXXX is incorrect in her statement she provided in her letter. Please see documents listed that are attached. 
Bank of America letter datedXX/XX/XXXX by XXXX XXXX ( highlighted paragraph ) XXXXXX/XX/XXXX Bank of America mortgage statement XX/XX/XXXX MY proof of mailing with SIGNED by Bank of America of RECEIPT of PAYMENT XX/XX/XXXX 
XX/XX/XXXX MY mortgage payment CASHED & CLEARED CHECK BY BANK OF AMERICA DATED XX/XX/XXXX Just so there isnt a confusion, I also included payment for XX/XX/XXXX and proof of mailing as well as SIGNED RECEIPT by BANK of America and CASHED & CLEARED CHECK BY BANK OF AMERICA for both XX/XX/XXXX & XX/XX/XXXX I provided proof of 1st payment to XXXX XXXX XXXX for theXX/XX/XXXX payment. So, you can refer there are consecutive payments made. 


2. I requested a letter from Bank of America stating that I was current on my loan and my mortgage was paid current to XX/XX/XXXX. But, I didnt receive that. Ive confirmed with many representatives that they show I was, current on my loan at the time of transfer but that isnt the case if XXXX XXXX is stating they received a final payment of XXXX. I made final payment for XXXX which she didnt include. 

3. Secondly, because Bank of America didnt apply my payments correctly, they reported a WRONG Principle balance to XXXX XXXX XXXX at the loan release. 
I provided my last statement from Bank of America prior to the transfer. It is theXX/XX/XXXX statement. Please refer to the principle balance. It states {$100000.00} and to the right it provides a breakdown of unapplied funds. The unapplied funds are {$1300.00}. Yes, that was transferred to XXXX but the principle balance is not correct and doesnt match what I have on my final statement. I WANT TO REMIND YOU THAT XXXX PLACED ME IN A DEFAULT FROM THE TIME OF THE TRANSFER FROM BANK OF AMERICA. 
4. During my conversation with XXXX XXXX, we reviewed the payment history records of Bank of America. I noticed my final XX/XX/XXXX payment was REVERSED by Bank of America. I pointed that out to XXXX XXXX and she stated the payment was reversed and forwarded to XXXX as a part of the {$1300.00}. This is not correct. This balance already was there. Bank of America reported an incorrect principle balance which doesnt include my final XX/XX/XXXX payment and therefore XXXX is short. 
5. I want to refer to the XX/XX/XXXXagain. That balance is already reflected on the statement of unapplied funds. That statement also shows the different principle balance because it reflects my final XX/XX/XXXX payment applied. 
6. I asked XXXX XXXX why that payment was reversed. It was received well in advance of the transfer taking place. She didnt have an explanation. Her explanation was that it was forwarded to XXXX. 
Ive provided a payment history from XXXX and it refers to theXX/XX/XXXX LOAN START UP the principle balance is {$100000.00} and it doesnt match the final statement that Bank of America provided to me prior to the transfer. 
Ive also included the Bank of America payment history from Bank of America. If you review their payment history, its a mess. They have all kinds of payment reversals and I found quite a few errors. 
****Special Note, please also refer to how Bank of America applies payments on the statements. Refer to theXX/XX/XXXX mortgage statement there isnt an explanation of amount due or a regular breakdown. Also, refer toXX/XX/XXXX mortgage statement the right side Past payments breakdown my payment was just applied to principle I didnt direct them to do that and they didnt apply to interest, escrow like it normally would be applied. The transfer date to new servicer wouldnt begin until XX/XX/XXXX This was clearly marked as my first payment due to XXXX, the new servicer. So, why did Bank of America reverse my XXXX payment??? **** Im asking that Bank of America be investigated for misapplying payments, wrong reporting of principle balance and payments received. I do not believe that this was an error. Bank of America has defrauded millions of homeowners and caused fraud on millions of American people. Bank of America lied to me constantly during my home loan with them. If you like, I can provide you with prior records of them trying to illegally foreclose on my home in XXXX because they misapplied my payments and put me in a default then. They lied to me consistently when I applied 4 various times for loan modifications. They were so difficult that I had to file Chapter XXXX Bankruptcy. I also want both Bank of America and XXXX XXXX investigated for filing mortgage default insurance when I WASN T in default. I want to remind you, the reason why Bank of America finally offered me a loan modification was because the Massachusetts Attorney General law suit and I was one of the homeowners that they wronged and DEFRAUDED and LIED TO. BANK OF AMERICA DID THAT AND NOT TO JUST ME. They CONTINUE TO LIE AND DEFRAUD MILLIONS OF AMERICANS. 

In conclusion, Im formally requesting in the document an ACCOUNTING OF THE ENTIRE LOAN of Bank of America and XXXX XXXX XXXX XXXX. I REPEAT, IM LOOKING FOR A COMPLETE ACCOUNTING OF THE LOAN AND NOT A PAYMENT HISTORY. I HAVE PLENTY OF PAYMENT HISTORIES. A FINAL ACCOUNTING SHOULD SHOW EVER SINGLE TRANSACTION ON THE LOAN INCLUDING MONEY SUCH AS INSURANCE PROCEEDS AND TAX CREDITS THAT THEY MADE ON THE LOAN. 

I will also be formally doing another Bank of America complaint which will include this letter. I want to state, having a mortgage shouldnt be a huge night mare but Bank of America has made it a nightmare. Bank of America has intentionally done this to steal mortgage insurance proceeds and illegally foreclose on another property. Thanks Bank of America, youre a real prize. 
XXXX XXXX I WANT THIS PUBLISHED. I WANT EVERYONE TO SEE WHAT BANK OF AMERICA DOES.

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