Consumer complaint received 2015-06-08
Product: Mortgage — Home equity loan or line of credit
Issue: Application, originator, mortgage broker — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (FL)

My wife and I decided to renovate our house, and sought a loan with Bank of America, our primary banker. This was about XX/XX/XXXX. 
I am a retired XXXX, with excellent credit and sought a loan on our XXXX residence, currently on the market for {$550000.00}. I have my pension and social security checks auto deposited, and mortgage payments for our primary and XXXX residences automatically deducted, as well as utility payments, credit card payments, and checking account. Our complete financial picture is plain at a glance. 
I began the process with anticipation that this would be an easy transaction. The disservice I received may seem far- fetched, but there is a paper trail and voice recordings all along the way. 
Disservice # 1My Greeter at my local branch turned me over to XXXX XXXX, who after studying my financial picture, misrouted me to XXXX loan possibilities that I did n't qualify for, before setting on a prospective route on third try, weeks later. Those XXXX close credit inquiries lowered XXXX of my XXXX A+ credit points to B. 
Disservice # 2I was told a drive-by appraisal would suffice. The picture of the house came back obscured by a tree, so the appraiser would have to do a full in-house appraisal. I objected, and asked for a second picture unobscured by the tree. XXXX XXXX and XXXX XXXX were satisfied with the second picture, and XXXX told me settlement should occur within a few days. XXXX sent me an information packet I would need for settlement. This was significant because my wife 's 93 year old mother in XXXX Virginia, had a stroke, needed to be hospitalized, and my wife left to attend to her. 
About a week later, XXXX XXXX called me to let me know that since the house picture was obscured, they would have to do a full walk through appraisal. He refused to acknowledge the satisfying second picture, and set the condition for a full walk through appraisal. I mentioned that our guest room was a mess and I was in process of having a ceiling fan replaced, with wife away, and was not ready for a full pictured walk-through. He would not budge. 
Disservice # 3I talked with AVP XXXX XXXX, attempting to appeal to her as a credit worthy, preferred customer with wife not ready for prime time pictures. Her insensitive response : a ) because my application had taken so long, she could speed up the walk-through process, b ) since I was making a renovation to the structure ( replace ceiling fan ) she was bound by internal protocol to order a full walk-through, c ) XXXX requirements bound her to stricter decisions than would otherwise apply. 
She would not own the fact that this matter was within her authority to consider the accompanying circumstances. 
Before talking with SVP XXXX XXXX, I was told he needed time to review the matter to include tapes and exchanges. We talked XXXX XXXX, he suggested a loan on the second property, informing me that it would have to be taken off the market immediately, and he would waive the normal six month off market requirement. He thought an additional $ XXXX on the {$550000.00} ( {$6000.00} remaining mortgage ) would be doable, but he needed to look into the details and we scheduled a phone conversation the next day at XXXX I felt tremendous relief at his financial vision, removing all home equity loan considerations and reverting back to my original request, a loan on my second property. 
At XXXX XXXX he called to let me know that after investigating the numbers, they did n't work out, and he regrets that we have to revert back to a full walk-through appraisal, or a considerably reduced amount in lieu of that. 
So, five and a half months later, having dealt with eleven Bank of America employees about a loan that I qualified for by any measure, I 've been misled, mis-informed, and unnecessarily mistreated, and now in limbo.