Consumer complaint received 2017-05-15
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (FL)

My mortgage is with Bank of Ameri ca ( BO A ), loan #  XXXX , for property address  XXXX   XXXX   XXXX   XXXX ,  XXXX , Fl  XXXX . A couple of years ago when I was going through the loan modification process,  BOA  reassigned my mortgage to  XXXX   XXXX   XXXX  which was an ordeal in itself and took years to accomplish because they gave me the run around until I hired a lawyer. I met all the requirements including having valid homeowners and flood insurance. I finally got the permanent modification in early  XXXX , and in  XXXX  of  XXXX , I got a letter from  XXXX  notifying me that my mortgage was being sent back to BOA and that I was to make my payments to  BOA  starting  XXXX   XXXX ,  XXXX . I was still covered by both my homeowners and flood insurance policies which should have been transferred back also. About  two  months after I was back with BOA, my mortgage payment increased by {$450.00} and then three months later, it went up again by {$170.00}. That is a total increase of {$620.00} in just five months! Around  XXXX  of  XXXX , I was notified by BOA via mail that I needed to get flood insurance which I did because it was around the time when my policy was due to expire. I know that mortgages fluctuate due to escrow balances but and increase of {$620.00} is excessive. I decided to investigate why my payment had increase so much especially since my homeowners insurance had decreased by almost {$1000.00}. What I discovered was that when my loan was transferred from  XXXX  back to BOA, they transferred my homeowners insurance info but for whatever the reason, they did not transfer my flood insurance info back to BOA. The shocking part was when I discovered how much they were charging me for their force placed insurance policy ... My flood insurance usually cost between $  XXXX  {$600.00} per year but BOA charged me {$5300.00}!!!! I am aware that force placed insurance cost more but to charge someone almos t 10 times more  than a regular policy is just criminal and ridiculous!!!! Especially since my residence was always fully insured. In fact, from  XXXX   XXXX  to  XXXX   XXXX , I had triple flood insurance coverage ....  two  of my own policies and the force placed one. It was not my fault that  XXXX  's name was still listed in the mortgage clause section on the  XXXX   XXXX  declarations page instead of BOA when the mortgage was switched back to BOA. In  XXXX   XXXX , I called BOA and informed them of their errors and they told me to  fax  them proof of coverage which I did immediately. BOA responded with a letter saying that they would only refund me for the  XXXX  to  XXXX  overlap because  BOA  was n't listed in the mortgage clause and the second invalid excuse was that the customer name on the insurance did not match the name on the mortgage. My ex-husband 's name was on the policy and the mortgage and the reason my name does n't match is because during the modification process, I got remarried and my last name changed. I provided a copy of my divorce and marriage license several times during the process which I was told would be kept on file but that they would not change my last name and advised that they could not change my name or remove my ex-husband,  XXXX   XXXX , from the mortgage until I refinanced the mortgage. They said that as long as they had the divorce and marriage license on file, there would not be any problems. Apparently not so. I am so fed up with BOA and their dishonest practices.