Consumer complaint received 2017-06-24
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
XXXX XXXX XXXX XXXX XXXX ( XXXX ) has made false claim to CFPB by stating they were not the entity responsible for my mismanagement of my Emergency Homeowners Loan Program ( EHLP ) funds. XXXX was the servicer of the EHLP funds and by attempting to divert CFPB from investigating their actions may be an act of fraud. XXXX should be investigated. I proved to CFPB they were the servicer of the EHLP funds as well as the holder of my mortgage and failed to disclose this conflict of interest to HUD. 1 ) XXXX XXXX XXXX XXXX XXXX ( XXXX ) is the holder of my mortgage and was the servicer of my EHLP funds. 2 ) HUD approved me for the Emergency Homeowners Loan Program ( EHLP ) and used XXXX  as the manager/servicer of the {$50000.00} EHLP funds. 3 ) XXXX XXXX XXXX XXXX XXXX failed to pay the correct amount due on time which resulted in late charges and interest to be assessed to my account. 4 ) I contacted HUD and received a communication that XXXX was correcting the issue as XXXX " erroneously reversed the funds. The issue was never fully resolved. 5 ) XXXX purposely mismanage the EHLP funds, as XXXX is the only entity that profited from the negligent management of the EHLP funds. 6 ) As a direct result of XXXX negligence and mismanagement of EHLP funds, fees and interest were added to my mortgage. 7 ) XXXX benefited from their mismanagement of my EHLP funds because they not only were a servicer for the EHLP funds but they OWNED my mortgage note which is a conflict in interest. 8 ) XXXX refused to correct their errors and refused reverse the late charges and interest that accrued. 9 ) XXXX XXXX XXXX XXXX XXXX/their agent committed fraud. After HUD contacted them regarding the mismanaged payments, XXXX/their agent committed an act of fraud by posing as a person hold my power of attorney/proxy and attempted to withdraw me from the EHLP program. 10 ) XXXX/their agent contacted my housing counselor at XXXX XXXX stating that I had authorized XXXX/their agent to act on my behalf & withdraw me from the EHLP program. I believe this was an attempt to cover-up the fact that XXXX mismanaged the funds and to have me default in the program making me ineligible from refinancing at a fixed lower interest rate. 10 11 ) XXXX committed malpractice by failing to honor their fiduciary obligations & responsibilities in managing my EHLP funds. They did not make the payments on time or in the correct amount resulting in late fees & additional interest to be charge to my account. 12 ) XXXX failed to act on breaches of fiduciary duty as they were made aware by their servicer that the mortgage rate had increased and failed to pay the amount due on time. 13 ) As a direct result of XXXX 's negligence and mismanagement of EHLP funds, I was made ineligible to refinance at the fixed lower rate. 14 ) XXXX has never accounted for the monies they " erroneously reversed '' and never reversed the interest or charges that they caused to be assessed to my account. 15 ) XXXX had a conflict of interest as the holder of my mortgage and acting as the servicer/administrator of the Emergency Homeowners Loan. I immediately informed EHLP representatives of this conflict of interest prior to signing the note & each time I contacted 16 ) XXXX is responsible for their actions regarding the mismanagement of EHLP funds and failing and has committed an act of fraud - XXXX uses diversion tactics trying to remove themselves by hiring servicers but, in this case, they owned my mortgage note, they serviced the EHLP funds and purposely mismanaged those funds causing me financial harm as well as physical harm. 17 ) XXXX is the only entity to profit from the harm they have caused me and should be held accountable they have been aware since XXXX 2011 that they purposely misapplied funds ; XXXX was aware they breached fiduciary duties while managing the EHLP funds ; XXXX was/is aware they have caused me irreparable harm by profiting for themselves paying the monies they mismanaged as " reward '' to their trustees/shareholders.

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