Consumer complaint received 2015-11-06
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Settlement process and costs — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (CA)

My wife and I purchase a house in XXXX, CA in XXXX XXXX for almost {$150000.00}. The loan was serviced by XXXX, XXXX XXXX when Countrywide Bank purchased the loan for {$120000.00}. There after I refinanced the loan to obtain a cash out of {$100000.00}. During the time everything was put into a rush mode where we had no time in reading the entire document and did not understand the terms and conditions. We totally relied on the bank doing the right thing for its customers. Thereafter, in XXXX I realized my loan balance did not make sense at all and started investigating. Before CountryWide could provide a clear explanation to our inquiry Bank of America purchased CountryWide Bank. All efforts to obtain answers to my were to no avail as representatives continued to tell me they investigating and get back with me. In XXXX XXXX, XXXX I finally sent a letter and analysis detailing why i disagree to various charges on a XXXX US Mail ( Copy attached ). On Friday XXXX XXXX, XXXX a representative, XXXX XXXX ( Direct phone number, ( XXXX XXXX XXXX ) called me and indicated that he is a BOA Loan Origination Researcher to go through documentation I sent. After 30-45 minutes of discussion, XXXX XXXX was insisting the loans were over 7 years and that the bank is not obligated to keep the loan documents. I consistently explained that there is a potential fraudulent activities involved with my loan and that they will have explain how all those charges were added to my loan. Frustrated with his answers I had to end the discussion and promised to call him on the following Monday, XXXX XXXX, XXXX, and that he should do his due diligence because his answers to my questions were not valid. I had been investigating the charges since XXXX and the bank should not have destroyed any of those documents. On Wednesday XXXX XXXX, XXXX I received another call from a representative lady from BOA, XXXX and said she is from BOA Escalation Dept and wanted to discuss my complaint. When i told her I did not and should not have a line of credit on my loan as she claimed, she wanted to transfer me to their customer service department. i indicated that i had never had success dealing with their customer service department so would not want to go there again. Thereafter I talked with some mortgage loans experts, including XXXX from XXXX Bank, XXXX XXXX XXXX, a CRA Mortgage Loan Originator with XXXX Bank and after reviewing my documents suggested that I contact your agency for full investigation because there were too much charges she could not understand. It is therefore my humble hope that your agency can lodge a full investigation to recoup all the fraudulently added charges and paid interest over the years to bring my loan balance, if any, to the correct amount. I have also attached a loan payment history obtained from BOA, and even as a XXXX i am having problem totally how much I have paid CountryWide and BOA since my mortgage loan was acquired by them in XXXX. The house was again purchased in XXXX XXXX and for almost 29 years my loan balance is still over {$240000.00}. Your agency 's assistance will be greatly appreciated.