Consumer complaint received 2016-10-10
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: OR
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Application, originator, mortgage broker

Complaint:
I have a loan with Bank of America originated XX/XX/XXXX.. Loan # XXXX. It is very old and I believe it started with Countrywide Funding. It is an adjustable rate loan. I work as a heavy equipment operator for a logging company here in XXXX, Oregon. Due to a work related injury and the economy in general I got off base ( one month ) on my mortgage XX/XX/XXXX. From that date until XX/XX/XXXX I was continuously 30 days late. I was finally able to make two payments and bring my payment current. I asked Bank of America for help refinancing out of this adjustable rate loan and they told me after I made a minimum of 12 months payments on time they would do a refinance for me under the " Making Home Affordable '' HARP refinance. I have made every payment on time since XX/XX/XXXX and worked diligently to get all of my other negative credit paid current and/or paid off. I have a stable job and have lived in my home for over 12 years. I only owe about {$99000.00}. I sought the help of an old family friend, XXXX XXXX, of Essential Mortgage for advise and she and the Loan Officer she works with said the best thing I can do is go back to Bank of America to obtain the HARP refinance as most of the lenders they work with will do the Fannie Mae HARP loans but not the XXXX XXXX HARP loans. With the help of the good people of Essential Mortgage we called Bank of America to get my application started and they told us that there is an indicator in their system that says my loan is not eligible for a XXXX XXXX HARP refinance. Essential Mortgage then contacted ( with me ) XXXX XXXX and they told us that there is nothing in there file as the Investor that would prohibit the loan from being refinanced through the HARP loan program. We called Bank of America bank and spoke to Customer Service asking them why their system showed that my loan was not eligible and they said they could not tell. When I asked them to contact the servicing department to find out, they said that would be fruitless. They then said that maybe someone in their new loan refinance department could help me find out. When they transferred me to them, I spoke to a Loan Officer there and he said, once again, that their system showed me not eligible. I/We called XXXX XXXX back once again and they said that was not true and to tell Bank of America to call them. I/We called Bank of America back and they told me they would not call XXXX XXXX and I should have XXXX XXXX write them a letter on my behalf. XXXX XXXX said that it was Bank of America 's responsibility to do that and the request was highly unusual. I thought so too. When I asked the Loan Officer at Bank of America why he said ( and I quote ) " That 's above my pay grade ''. I asked him if he could contact the servicing department to clarify for me and he said no. I would have to. I have been continuing to call but no one there is willing or able to tell me why my loan ( according to them ) is not eligible for a HARP. I know the program expires at the end of this year and my fear is my request is going to fall through the cracks of Bank of America and based upon my past credit history and the need for a new appraisal from any lender originating a new regular refinance I and/or my home will not qualify. The phone number for Bank of America is XXXX. Once again XXXX XXXX says my loan is eligible and Bank of America who is just servicing the loan for them says it 's not.

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