Consumer complaint received 2015-04-01
Product: Mortgage — Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (RI)

To Whom It May Concern : I am writing to complain about Bank of America and my home equity line of credit ( mortgage loan ). 
I have appealed twice to the bank about a problem with my loan dating from XX/XX/XXXX to XX/XX/XXXX in which several payments were missed and I never received notification from the bank. I only learned that I was XXXX payments behind on XX/XX/XXXX when I went into my online account. 
I immediately called the bank to determine why I had not received notification of the first missed payment, let alone XXXX. At the time, I had not received a single notification from BoA over the previous 3 months of any payment overdue by electronic or other means.. I confirmed with the representative on the phone that they had my correct email and they did - the same email I have been using for years. I should note that I receive such electronic notifications and any alerts of problems on my account from ALL of my other credit institutions on this address, so to me it is inexplicable as to why I never received any notification of even XXXX late payment from BoA. I travel frequently overseas so rely on electronic notification for all of my financial institutions. If I had received notice after the XXXX late payment as would be expected from any bank, I would have remedied it immediately, let alone XXXX late payments. 
I immediately paid down the full amount in arrears plus XXXX payment ( XXXX monthly payments ) while on the call on XX/XX/XXXX. The representative refunded the late payment fees, recognizing that this was an oversight of the bank and that I should have been at least electronically notified over the past months ( they could not explain why this was not functioning properly ). I was under the impression that I had previously arranged auto payments on the account ( which is now active ), so I did not go into the account each month to check that payments were going through. 
Subsequent to settling this matter, I learned that the credit bureau was notified of my missed payments, and although I paid down the full amount on XXXX XXXX, Bank of America failed to inform the credit bureaus that I had settled the matter ( on XXXX XXXX ) until late XX/XX/XXXX, thus further damaging my credit. 
I appealed to the bank XXXX regarding this matter, stating that I really should have been notified of the late payment, let alone XXXX, and that I had thought I had automatic payments set up. Given that the bank representative admitted at the time they did not understand why I had not been notified by electronic notifications or emails, I feel that the bank is guilty in this matter. I should note that all of my other accounts are current, thus this is an isolated incident. 
Despite my appeals, the bank has repeatedly responded with the same generalized letter stating the bank " reviewed its credit reporting and confirmed the information given to the credit agencies is accurate. 
However, this is not answering my complaint : My question was WHY I WAS NOT INFORMED for nearly 3 months and whether or not the bank is obligated at all to inform a client within 15 days, 30 days or at all when a client has missed payments, and in this case due to a technical error in reporting on the part of the bank. 
I would appreciate your assistance in this matter, as Bank of America has not helped me to remedy this matter and this has seriously impacted my credit. It will remain on my report for the next 7 years, according to the credit agencies, unless the bank informs them otherwise.. 
Thank you