Consumer complaint received 2015-08-06
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
I currently have a home loan with Bank of America ( BOA ) which has been in place since XXXX/XXXX/XXXX. The terms are for a 30 year fixed mortgage at a 4.75 % interest rate. My husband, who was a joint owner of the home and my co-borrower, died on XXXX/XXXX/XXXX. I was the executor and sole beneficiary of his estate. As executor, I made the required notification to BOA and provided the information necessary to have the mortgage existing since XXXX changed to my name without any modification in terms XXXX/XXXX/XXXX. That mortgage continues in effect. 
I responded to a solicitation from Bank of America , N.A . that was included in my monthly mortgage statement which suggested that I " may be able to refinance and lower [ my ] monthly mortgage payments. '' Although I had already begun the process of refinancing to modify my existing mortgage terms with an independent mortgage broker to take advantage of then existing lower interest rates to improve cash outflow, I called the number on the solicitation on XXXX/XXXX/XXXX and discussed a loan refinance of my current BOA mortgage with XXXX XXXX XXXX, Sr. Loan Officer with BOA , NMLS # XXXX. 
She was able to access my current loan information with BOA and offered to lock in the rate for a refinance loan application at 4 % and no escrow, the same terms as my current loan except for the lower interest rate. Based on her representations and estimated closing costs quoted, I agreed to lock the rate at that phone call which XXXX XXXX memorialized in an email on XXXX/XXXX/XXXX. I had to provide XXXX XXXX with a statement that the activity on my credit report was due to the other mortgage broker contact, that I incurred no obligation with that effort as well as other multiple requirements for information within XXXX hours. XXXX XXXX also took my credit card number to charge for the appraisal ( {$450.00} ) which she ordered and took place on XXXX/XXXX/XXXX but did not tell me I was also going to be charged {$15.00} for the credit report she obtained while talking with me. 
XXXX XXXX caused a Good Faith Estimate ( GFE ) dated XXXX/XXXX/XXXX to issue as well as numerous other documents relating to the loan application. The GFE and other documents were not received by me until XXXX/XXXX/XXXX, after the appraisal ordered by BOA and charged to my XXXX card took place. The GFE she provide was inaccurate. Although she confirmed to me by e-mail on XXXX/XXXX/XXXX that there would be no escrow, the box was checked " yes '' that there would be an escrow for the loan with a corresponding increase in the representation of funds that would be needed at closing. 
Because of:1. The mistake reflected on that GFE causing the loan product itself to materially change,2. Documents were altered by or at the direction of BOA and submitted to the IRS,3. Wild fluctuations in the amounts reflected as due from me at closing without explanation, and4. New information requests made as late as XXXX/XXXX/XXXX after the loan processor represented that my refinance loan had already been approved on XXXX/XXXX/XXXX -- I ended this loan refinance application process on XXXX/XXXX/XXXX. 
Bank of America and XXXX XXXX XXXX, XXXX, engaged in a continuing pattern of RESPA practices ( primarily regarding the GFE ) which resulted in multiple misrepresentations regarding a loan refinance. These companies also altered documents in the mortgage loan process which caused a flag to be placed on my account with the IRS effectively closing my opportunity for shopping elsewhere for refinance of my mortgage currently held with Bank of America.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with monetary relief