Consumer complaint received 2016-02-23
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: KY
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
I own a condo in a building on the beach in XXXX. The HOA maintains a master flood policy on the condo building. I have a home equity line of credit with Bank of America of less than {$96000.00}. The home equity line of credit was approved for a loan modification in XXXX XXXX. ( Not part of this complaint, but the modification is still not finalized due to BOA 's inability to function as a financial institution in a timely and competent manner. ) My complaint is that BOA has charged me lender-placed flood insurance premiums even though I have more than once provided them with the Flood Policy Declarations issued by Nationwide Insurance every year. Our HOA provides more than is required for the flood policy. The flood coverage meets BOA 's lending requirements. I have had numerous phone calls and repeatedly faxed the proof of insurance to BOA, but the issue of BOA removing incorrectly charged lender-placed flood insurance from my account has still not happened. In addition, it appears they have changed the property address per letter dated XXXX XXXX, XXXX. The correct property address is XXXX. In letter dated XXXX/XXXX/XXXX they changed it to my XXXX address. 
Please note my complaint is for 2 years : The Nationalwide flood insurance policy for my condo covers 1. XXXX - XXXX and 2. XXXX - XXXX I have never had a lapse in coverage. It appears BOA has charged me, after my phone calls trying to resolve, {$3400.00}. I should be charged XXXX. I have always had sufficient or above sufficient flood coverage and have NEVER had a lapse in coverage. I have provided Bank of America the policy information but BOA has not processed the information correctly. It also appears BOA is changing policy effective dates, addresses, etc..so at this point it is more confusing to determing what they are doing. I have XXXX property in XXXX with a BOA equity line. FORTUNATELY, I HAVE NO OTHER BUSINESS WITH BOA. 
I had another conversation with BOA today and was on the phone from XXXX until XXXX. Still not resolved. When I called XXXX, XXXX from the XXXX PA office answered the phone. I had in my notes I had spoken with her before and told her I had spoken to her before and she denied I had ever spoken to her. She then went on to tell me my policy had lapsed, etc. etc. I could tell she was not competent enough to determine a solution so I asked to be transferred to her manager after about 15 minutes on the phone with her. She was reluctant to do so, but after a 3 minute hold she met my request to transfer me to her supervisor, XXXX XXXX. After discussing with XXXX XXXX, he stated his system was shut down and he was unable to help me further. He transferred me to another " manager '', XXXX XXXX. XXXX XXXX told me she would escalate my complaint to the Lender Service Unit. Based on my prior experience, the escalation process is lacking and I am very concerned I am going to be incorrectly charged {$3400.00} for year XXXX to XXXX and incorrectly charged an additional amount of {$48.00} for year XXXX to XXXX. Perhaps even more..I do n't know. 
You can see in BOA letter dated XXXX, BOA changed the property address to my XXXX home address and not my XXXX home address. The XXXX home is the collateral for a less than {$95000.00} modified equity line. In addition, I have no idea where BOA is getting XXXX to XXXX information. I have no policy that corresponds with that date.

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 monetary relief