Consumer complaint received 2016-04-08
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
We are filing a consumer complaint against our mortgage servicer XXXX XXXX ( XXXX ) due to payment misapplication and unclear escrow charges and fees. Our loan was approved to make payments in the amount of {$1000.00}, however in the interim our loan was sold and or transferred to XXXX from Bank of America ( BAC ) prior to the loan modification being made final. While completing trial payments for our approved loan modification with BAC, starting on XXXX XXXX, XXXX, our loan was sold before we could complete the entire process. Our loan was sold to XXXX, on XXXX XXXX, XXXX while still making trial payments from XXXX XXXX, XXXX accounting ledger is extremely distorted because of the loan being transferred prior to the permanent loan modification being granted. We have requested accounting ledgers from BAC which cover the payment history from XXXX XXXX, XXXX and have yet to receive them. XXXX, claims that my loan is due for 10 months of payments which is excessive as well as inaccurate on multiple accounts. Recently XXXX, agents XXXX agent I.D XXXX and XXXX agent I.D.XXXX, were just as confused as we are as to how the loans payments were calculated in fact. XXXX advised us that the first payment that was received from us after the transfer from BAC was complete, was made for {$1000.00} on XXXX XXXX, XXXX and applied toward my XXXX XXXX, XXXX payment, which is completely erroneous. Below are the only accounting statements which we have to consider for BAC records, these statements are also distorted and unclear as to how BAC derives to reflect preposterous amounts : *BAC NOTICE DATED XXXX XXXX, XXXX RECVD PAYMENT AMOUNT OF {$1200.00} AFTER APPLYING PAYMENT AMOUNT DUE IS {$10000.00}. *BAC NOTICE DATED XXXX XXXX, XXXX XXXX AMOUNT OF {$1200.00} AFTER APPLYING PAYMENT AMOUNT DUE IS {$9300.00}. *BAC NOTICE DATED XXXX XXXX, XXXX RECVD YOUR PAYMENT AMOUNT OF {$1200.00} AFTER APPLYING PYMNT AMOUNT DUE IS {$10000.00}. *BAC STATEMENT DATED XXXX XXXX, XXXX SHOW TOTAL AMOUNT DUE LESS THAN 1 MONTH LATER THE AMOUNT OWING GOES TO $ XXXX*INCREASING BALANCE BY {$2500.00} IN LESS THAN 1 MONTH PRIOR TO TRANSFERFurthermore, we were forced to reapply for another modification once our loan was transferred to XXXX. They stated that we needed to reapply because they had records indicating that BAC, informed their office 's that we had requested to cancel our loan modification which was dated XXXX XXXX, XXXX. This information is also incorrect because why would we make all of the trial payments of {$1000.00}, if we had no intentions to complete the plan? In fact XXXX, shows record that we continued making payments of {$1000.00} even after the transfer was complete, it simply makes no sense.Once we were forced to reapply for a new modification with XXXX, they approved us for payments that were virtually the same as what BAC, had done for our family. However, XXXX back dated their offer to reflect payments made to them in the amount of {$1000.00} dating back to XXXX XXXX, XXXX during the time BAC serviced the loan. How was XXXX, able to account for payments made under a HAMP loan modification on XXXX XXXX, XXXX, when they did n't take over the loan until XXXX XXXX, XXXX? hese underwriting errors along with the distorted accounting for escrow and late fees, raise major concerns as to whether or not our loan is being properly managed. Furthermore it makes it next to impossible to determine how far behind our loan actually is. As an attempt to try and make sense of our loans fees and charges we filed a qualified written request ( QWR ) with XXXX on XXXX XXXX, XXXX, immediately after on a notice dated XXXX XXXX, XXXX, initiated a notice of default and intent to accelerate our loan into foreclosure rather than simply respond with a clear explanation. We feel that they would rather foreclose on our home rather than have to explain themselves.

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