Consumer complaint received 01-03-2016 about Mortgage (Conventional adjustable mortgage (ARM)) with BANK OF AMERICA, NATIONAL ASSOCIATION (NC).
Issue: Loan modification,collection,foreclosure

Complaint: This is my third request for answers from Bank of America on procedural operations that XXXX XXXX XXXX, Bank of America, Resolution Specialist, Enterprise Customer Care Resolution uses for his interactions with customers attempting to procure a loan modification. 

These questions were asked and not answered in : OMB # XXXX XXXX XX/XX/2015 OMB # XXXX XXXX XX/XX/2015 Question # 1 : In what Operating Procedure, either the government or Bank of America, does the rule reside that states that cash reserves or other liquid assets would be used as a factor when making the determination on modification when the customer was current on their mortgage and that cash reserves or other liquid assets would not be used as a factor when the customer was not current on their mortgage ( missed payments ). Please precisely indicate locating information for this guidance. 

XXXX XXXX XXXX did not answer the question as presented. He referenced www.makinghomeaffordable.gov and did not precisely indicate locating information for this guidance. 

As suggested by XXXX XXXX, I contacted www.makinghomeaffordable.gov and called the Housing Councilor at XXXX. I was given a docket number, XXXX and eventually connected with councilor XXXX ( ID # XXXX ). She indicated that she had never heard that other liquid assets would be used as a factor when making the determination on the eligibility for loan modification when the customer was current on their mortgage and that cash reserves or other liquid assets would not be used as a factor when the customer was not current on their mortgage ( missed payments ). She also said the guidance certainly did not reside in the Making Home Affordable operating procedures. In addition, she said this would be a question for the lender to answer. 

I present the question again. 


Question # 2 : Why is Bank of America allowed to record conversations and not its customers? If I want to record the conversation, for whatever reason, Bank of America will decline the conversation and any financial assistance. For what reason does Bank of America record, for training and quality, or for future litigation? Why am I not allowed to record? 

XXXX XXXX previously stated that monitored and or recorded calls could be used for Training, Quality and or Litigation, but says in the response that it is done because of the guidelines stipulated in Telephone Consumer Protection Act. He says that the Act requires, prior to discussing any account information, that Bank of America must notify every person spoken to regarding a claim and/or account that they may be monitored or recorded. I closely reviewed the Telephone Consumer Protection Act and did not find this guidance. 

XXXX XXXX does not answer the question. Why does Bank of America record and why will Bank of America end the phone call if the conversation is recorded externally? 

I have been treated with respect in every aspect of my interactions with XXXX XXXX. I have not been treated with respect from many others at Bank of America. I want to record all conversations with Bank of America for the exact reason Bank of America records, for training, quality and documented feedback to and from Bank of America. 

I present the question again.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation