Consumer complaint received 2016-12-15
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA
Product: Mortgage
Sub-product: FHA mortgage
Issue: Settlement process and costs

Complaint:
On XXXX XXXX, XXXX, I received a XXXX package from Bank of America first thanking me for returning my loan modification agreement and then stating that they identified the title to the property lists additional parties who must sign and acknowledge, even if those parties are not obligated under the note. In the third sentence I was offered {$100.00} to sign the loan modification since they needed my help. My first thought was fraud mainly because of the {$100.00} offer since I am aware of XXXX which states no " Things of Value '' so I immediately called BOA and told the phone specialist why I was calling and to help me understand why I received a loan modification I never applied for. She put me on hold and came back with the response that she could n't find anything regarding the package I received and that it must be fraud and to ignore it. As a Banker and also in the process of maintaining my mortgage licence, I take fraud seriously and told her that was not an acceptable answer so she sent me to another department quickly. 
The new phone specialist at BOA was more helpful. She did some research and while i was on hold, I went through the XXXX pages that were XXXX to me. I noticed that this was not a new modification, but reflected back to my loan modification in XXXX. When she came back on the phone I shared this with her and she also clarified this was from XXXX. She said that the City/County rejected the Deed of trust since the notary stamped over my signature. I questioned this since it is now 6 years later and they just found this out? She said their was someone the other day who had the same issue from 7 years ago. After completing my course in preparation for my mortgage license exam, I know for a fact that within 30 days of signing your loan agreement it is sent down for recording mainly to make sure the bank ( BOA ) is fully secured by the dwelling ; this was not a City/County issue, this was a BOA issue in not reporting my deed of trust in a timely, mandatory way. 
Ironically, I have been fighting my loan modification for 5 years and have complained through the CFPB three times with no help from Bank of America. Now they need me to resign paperwork that I have been fighting all this time and disagree with? I do n't think so. Not only will I NOT be signing the wrongful loan modification that ruined my life for years, I am also accusing Bank of America of the following violations through the CFPB. 
RESPA / XXXX XXXX : THINGS OF VALUE ( offering me {$100.00} in cash to resign paperwork they messed up on 6 years ago. 
XXXX / XXXX XXXX : NOTICE OF INCOMPLETE APPLICATION. BOA had 30 days of receipt to notify me of any discrepancies, not XXXX days. 
FCRA / XXXX XXXX : FAIR CREDIT REPORTING ACT. Going back to my original dispute on XXXX, I simply asked BOA to fix my credit report to reflect my new loan amount and not my original from XXXX. Why? Because I was rejected from refinancing and taking advantage of the new loans out there for FHA including a streamline. Reason was that my original balance and current balance are different showing my LTV at 120 %. I was told by many loan processors that this was wrong and BOA needed to fix it, they never did. 
XXXX / XXXX XXXX : ABILITY TO REPAY AND STEERING : When I originally called to inquire about a loan modification in XXXX, I was told to NOT make my monthly payments for at-least 4 months and then call back to request a loan modification. Instead of helping me in XXXX when my loan modification was finally completed, they increased my rate and monthly payment amounts, which I am still stuck with today. 
From my knowledge when it comes to title and recording, if the city does not have BOA as my current lien holder since they waited 6 years to turn in my paperwork, I now own my home free and clear. I am willing to work with them but this will not be a XXXX way street like it has for the past 6 years.

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