Consumer complaint received 2017-02-28
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account

Complaint:
Bank of America Corp. entered a settlement agreement in XX/XX/XXXX, with the DOJ and six other states ; which included {$7.00} Billion set aside specifically for " consumer relief '' for homeowners who had been previously denied loan mods but still needed some relief such as principle reduction, reduced payments etc. XXXX Relief funds are for eligible consumers to include currently-serviced BofA home loan consumers AND ALSO former customers whose loans " were previously serviced by BofA '' but even if our loans " were no longer serviced by BofA, '' as of the Settlement date of XX/XX/XXXX. Unfortunately, as a " formerly-serviced home loan '' consumer ( XX/XX/XXXX ) I have been effectively turned away by BofA from accessing any type of application process for this consumer relief fund. Furthermore my loan was a " table-funded '' by a Countrywide name-only entity, and then serviced by XXXX which in XX/XX/XXXX was a wholly owned subsidiary of BofA, and then subsequently serviced by BofA subsidiary and former Countrywide servicing company " BAC Home Loan Servicing LP '' and then by " Bank of America , N.A . '' These BofA entities denied four loan modifications against me, despite proof of ability to pay. I have been forced into litigation to save our only home and dwelling. Now I wish to enter some modified loan / workout with current servicer XXXX, but ONLY with the additional consumer relief due from the XX/XX/XXXX settlement, i.e. 50 % principle reduction etc. as other consumers had enjoyed. 

I dispute the total amount XXXX says I owe ..due to discrepancies on escrow payments I made which they claim, and for sudden hike in interest rate even years after the non-performing loan was transferred to XXXX, and more. 
To date : it appears that though 97 % of the funds have been awarded, certainly some funds remain and the deadline for disbursement is not until XX/XX/XXXX. 

BofA acknowledges my former account / loan number and verified my seven years that BofA or one of its subsidiaries did service my loan before transferring servicing rights to XXXX ; but recently and repeatedly, several supervisory-level employees at BofA have no process for me to apply for consumer other than to refer me to the independent third-party Office of the Monitor of the XX/XX/XXXX Settlement. BofA told me that they ( or their 3rd-party contractor ) " mailed out letters to eligible consumers '' to apply for relief under the Settlement ... ' and therefore since I did n't get a letter after being service-transferred out, that perhaps my account " fell through the cracks '' while I was no longer serviced by BofA. I am asking the CFPB to help correct this, because the Monitor 's office feels it has already complied with the eligible consumers who did receive letters. I have formally asked the Monitor 's office and XXXX XXXX XXXX, XXXX Can the CFPB help monitor the Monitor and BofA for compliance of this XX/XX/XXXX DOJ settlement ?

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