Consumer complaint received 2020-08-13
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
This has been a total nightmare. I never thought I would be trying to track down escrow funds paid at closing on XX/XX/XXXX. 

Various phone calls were made in XXXX and again in XX/XX/XXXX to Bank of America when I received my first and second statements advising I didn't feel the escrow amount was correct and I was always given some response that didn't make since but 2 different people pretty much gave the same reply " It will show up at years end '' so I went with it ... Unfortunately, my account was passed on before year end and the confusion escalated to lost money in the amount of {$2200.00} that never made it to my escrow account. 

During the closing the notary advised the Seller ( my sister in law ) that she would be getting {$2200.00} back. The seller left going out of town the following day and would be gone for 30 days. I was asked to follow-up for her and to keep a watch out ... When I contacted XXXX a couple days after the closing I was advised the seller would not be getting any funds back but, the seller was suppose to pay {$2200.00} and that they were still pending those funds '' " The {$2200.00} is just a straight proration, it's a credit to you and a debit to the seller. The impound/escrow account set up for the taxes is the " Property Taxes ( {$500.00} per month for 9 mo. ) '' for a total of {$4500.00}. When that account pays the taxes, probably in XXXX, it'll pay the entirety of the XXXX taxes, but the proration was done so that at closing, you were credited for the number of days that you didn't own the property in XXXX ''. ) XXXX assured me the {$2200.00} would be going toward taxes.. 

My loan was passed on to XXXX XX/XX/XXXX. I received notification in XX/XX/XXXX that my escrow account was short {$2800.00} and my house payment would be increasing from {$1000.00} to {$1300.00}. Calls started with Bank of America XX/XX/XXXX ; XX/XX/XXXX ; XX/XX/XXXX ; XX/XX/XXXX ; XX/XX/XXXX trying to track down money that should have been applied toward the escrow. This still has not cleared up. 
I received a call from Bk of Am on XX/XX/XXXX advising there was a mistake in the amount due at closing. The house sold for {$97000.00} the pay off was {$96000.00} in which XXXX XXXX confirmed was received. However Bank of America is now indicating it should have been {$99000.00} and the additional {$2200.00} made up for the difference. The total amount sent toward the Escrow by Bk of America to XXXX was {$3900.00} which includes {$630.00} x 3 =  {$1800.00} included in the monthly house payment + an additional {$2000.00} from the {$4800.00} I paid during closing. There was an additional {$2200.00} paid on XX/XX/XXXX by me that was to go toward the taxes prior to the purchase but this was not given to the new servicer nor was it sent to the previous servicer XXXX XXXX XXXX and this is what I am disputing. Bk of America is refusing to send the pre purchase tax money that was to be put into escrow to RoundPoint..

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