Consumer complaint received 2016-10-26
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
I have doubled my income in the last 2 months and submitted the documentation to the BofA as a change of circumstance. At the same time a sale date XX/XX/XXXX ( 2 days from now ) on my home was issued. Here in California " dual tracking '' is illegal, but the BofA continues to practice it. Here is how they get around the law. My contact person says the underwriter requires more documents, and once I submitted them, the underwriter asks for more while the countdown continues. This is where I find myself today, with the underwriter continuing to review my submissions one day before the sale date. The underwriter has asked me for the same information, so as long as the " review is not complete '' the BofA does not remove or postpone the sale date. 

My contact person sets up a day and time to check in. I call at that time and get only voice mail. The contact may call later that day or another day. When I see who has called I call back. The contact person does not answer the phone, only voice mail. This has gone on for some time and the result is I will receive a computer generated letter saying the bank has made several attempts to contact me, which puts me in a bad light. The appointed day and time for this conversation has yet to occur. All of this is to say that this even more delays being able to complete the necessary submissions for a modification. My sale date is 2 days from now ( XX/XX/XXXX ) and the contact person said she would schedule a phone appointment on XX/XX/XXXX to discuss my modification progress with the underwriter. XX/XX/XXXX is one day after the auction. 

My strong sense of this is that the bank is letting the clock run out by stalling me with these tactics. I have had postponements before, mostly due to complaints filed with CFPB XX/XX/XXXX XX/XX/XXXX. This has come at great relief because I was able to continue to restore the family home which results in more room rentals ( I live on the property ) and continue to develop my skill sets for employment. I have demonstrated a slow but stead increase of income and with this latest doubling of my income I would have expected a modification. It is clear to me in the one day remaining they have no intention in completing it. 

In addition, I asked BofA to reveal my investor. They named the XXXX. I called and emailed them and they said they were not the investor but a trustee on behalf of XXXX XXXX XXXX is Countrywide and is owned by BofA . I earlier complaint to CFPB was not answered by BofA in that they repeated XXXX as the investor. As a homeowner who has been restoring this historic XXXX home that my parents bought for 16 years, I feel I and others have the right to communicate with the entity who holds the note. This issue was covered in my previous complaint. 

This same non disclosure pattern occurs also when asking who decides the sale date. BofA says the investor or the BofA law firm XXXX XXXX XXXX ( XXXX XXXX ) sets the date. XXXX says they follow the BofA instructions.

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