Consumer complaint received 2016-02-19
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CT
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
I have a mortgage equity loan with Bank of America on a home I 've owned since XX/XX/XXXX. There has been an unexplained fee on my account since XX/XX/XXXX, when I avoided losing my home to the bank through my state 's mortgage mediation program. Although the bank representative assigned to my loan at the time never returned any of my calls, I 've kept paying on the loan. In XX/XX/XXXX, I finally wrote the bank requesting an explanation and itemization of all the fees I 've been charged and all the payments I 've made. However, the bank never responded to my letter. 
I thought that by putting my request in writing, the bank would explain what the questionable fee is ; it does n't seem to be based on the loan 's interest rates or principle. I also wanted to know if my payment records coincided with the bank 's records, which the statements do n't seem to show. My monthly payments currently are only on the loan 's interest and just slightly above the minimum rate. However, I do n't know how the bank is applying my monthly payments to the loan, the principle of which is substantial. The interest rates on this equity loan are relatively low, but my payments do n't seem to be reducing this portion of the debt. 
The fee in question used to average about {$1200.00} on each statement. However, my XXXX XXXX statement shows a {$310.00} increase over last month 's fee ; the fee rose from {$1200.00} in XXXX XXXX to {$1500.00}. My XXXX XXXX statement shows that the fee now is up to {$1800.00}. With these sudden {$300.00} increases a month, I will soon owe the bank thousands of dollars on an unexplained fee that I ca n't afford to pay. 
Also, each of my mortgage statements now includes a notice that the bank has not received the previous month 's payment. Each monthly payment has posted to my checking account ; therefore, the bank is receiving and accepting my money. 
A generic message on the statement now threatens to notify the credit bureaus of delinquent payments. By the bank claiming that it 's not receiving previous monthly payments, it can report this false information to the credit bureaus and eventually foreclose on my home again. 
I am requesting the following information : 1. What the unexplained fee is for 2. Why the unexplained fee is now rising significantly each month 3. Why the bank claims on each of my statements that it has n't received the previous month 's payment 4. Whether the bank is applying my monthly payments to the loan I will provide any additional information needed to help resolve this issue. A fair solution would be for the bank to answer the questions outlined above and to waive the unexplained fee. 
I have attached a copy of the following : 1. XXXX XXXX statement 2. XXXX XXXX statement 3. XXXX letter to the bank I appreciate any help the CFPB can provide.

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