Consumer complaint received 2016-11-22
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
I bought my residential property in XXXX with a mortgage, hazard/wind insurance and flood insurance on the entire property. In XXXX I took out a home equity loan with Bank of America, also on the entire property. XXXX insurance has always provided the flood insurance, though the agents servicing the loan have changed over the years. In XXXX, XXXX my local XXXX agent abruptly left the company. My flood insurance was due on XXXX/XXXX/XXXX. I could not pay it because my local agent had left XXXX and the new agent could not access the database containing my records.As soon as he could get into the records, he called me. I gave him my credit card payment over the phone. He verified the mortgagors on the account, including the Bank of America. He said he would notify both and he did. However, I got a letter from Bank of America saying my policy was " cancelled or expired and acceptable evidence of coverage was required. '' I sent a copy of my declaration page. I got a second letter with the same wording. I sent a second copy of the declaration page. No other response. I noticed a fee of {$1100.00} had been charged to my HELOC account when I was reviewing documents in connection with a loan modification I was requesting. When I called Bank of America about it, I was told the charge was for a separate structure that I added to my property that had to be covered by a separate policy. I explained that no structure had been added and asked to talk to a supervisor. The supervisor informed me that the flood policy was not even on a residential property and that the insurance requirement was different. I called my ( new ) insurance agent who assured me that the policy was indeed residential and that nothing in or on the declaration page said otherwise and that everything was still covered. I have been going back and forth with different employees of the Bank of America. Every time I talk to one of them they come up with a different explanation for why this duplicate insurance on my property has been force placed. It is a single property with several buildings that I bought in XXXX. It has been taxed and insured as a single property since then. A permitted shed was added in XXXX and both insurance companies ( XXXX XXXX for hazard/wind and XXXX for flood ) were notified with no problem. The same insurance remains in place since before the HELOC was initiated in XXXX. 

The property is not two separate properties. They are attached by structure, utilities and a single septic tank. I rent part of my property for vacationers and must keep a separate address for the county so they can get mail and so I can pay tax on the rent. but no structures have been added. The same loan with the same provisions has remained in place, but I now have force placed, extremely expensive, DUPLICATE flood insurance policy on my property. Please note, THERE HAS BEEN NO PROBLEM WITH THE PRIMARY MORTGAGOR OR WITH THE HAZARD/WIND POLICY on the same property. 
This duplicate insurance fee needs to be removed back to XXXX/XXXX/XXXX but I can not get relief from the many Bank of America representatives I have talked to over the last several months.,

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