Consumer complaint received 2015-08-08
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (OR)

I was looking to buy a home, I was pre qualified with a bank that I bank with. I was directed to other lenders and after making my decision to go with my bank, my bank gave me a close on time commitment, that if it did not close by the date, they would pay me XXXX for inconvenience. I have banked with them for XXXX + years and I am a XXXX member with the amount of liquid cash. I felt this was the right decision, only to discover during the process it was illegal, and shady. I was a victim of PREDITORY LENDING. 
I lived in XXXX XXXX at the time of Pre qualification. I found a home in XXXX, Oregon. I made an offer on the home on XXXX XXXX 2015. They accepted offer with a closing date of XXXX 2015. I used Bank of America to fund the loan. I was promised a Close on time commitment of XXXX if it did not close on or before XXXX 2015. I had all my belongings in a POD that was shipped to my new home, where it sat for XXXX days. I had not yet signed the papers for the home and received the keys.During the process before signing, I trusted my bank to inform me on what the costs of owning my own home. They quoted me to put XXXX % down ( XXXX ) at 4.125 % interest. I started this process with XXXX. My banker told me if I was to qualify for this loan and have my own home, I needed to re finance my vehicle with them, in order to do this I would need to pay my balance down to under XXXX and refinance. I took XXXX and paid on my existing balance in order to qualify for this home loan with a new car loan thru them. 
My banker refinanced my car and wanted to talk to the refinance branch privately on my personal phone behind closed doors. He returned with phone in hand and said " We can do this '' and gave me my phone back. 
I moved to Oregon on XXXX/XXXX/15. Closing Date was XXXX 2015. I paid for an appraisal of the property@XXXX which locked my rate in@4.125 %. BofA told me that if interest rates drop, I would be given the best rate since I was a XXXX+ year XXXX member, meaning that I would receive a .25 % interest discount for being a gold member and what the interest rate was before closing. Fact : Interest rates posted on XXXX/XXXX/15 ( exhibit XXXX ) in the branch office was 4.00 % minus the XXXX rewards member of .25 %. I contacted Manager XXXX XXXX with Bof A and asked him, I have n't closed yet, can I get a better rate? His reply was " This will need to go back to underwriting '' I said fine cause over the life of the loan it equates to XXXX + dollars in interest. He told me to take it or leave it. I told him I was not happy with what I was promised. I am a gold member that put XXXX in the bank, Is this how you treat high clientele? He said to walk away then. I have already invested XXXX in earnest money to title. 
XXXX 2015 Closing date : I called my banker asking him if we were signing today? He said " We are working on it ''. 
XXXX 2015 Past Closing Date : I called again, He said " We Are still working on this '' XXXX 2015 " I received an email asking me to call XXXX and do a 3rd party verification that the Credit Card from XXXX XXXX showed a XXXX balance. I was directed by my banker from day one, in order to qualify for this loan ; XXXX XXXX needs to show a XXXX balance. 
XXXX/XXXX/2015 BofA called and asked me if the XXXX XXXX credit card was paid off, I confirmed that it was indeed paid off and showed a zero balance. 
XXXX/XXXX/2015 Banker called and told me I needed more money to close. Original was XXXX, this number changed to XXXX and then it changed again to XXXX. 
XXXX/XXXX/2015. I received a call from banker that I did n't have enough money to close. I needed to have XXXX more. I made it happen. 
XXXX/XXXX/2015 During title sign, I told them I have n't received my appraisal, I paid for it. Go and sign and we will fix it later. 
XXXX/XXXX/2015 BofA will not honor COTC of XXXX my fault they say. 
Law : 3day review b4 signing. ( ILLEGAL )