Consumer complaint received 2025-05-30 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MD

Complaint narrative:
In XXXX, I received a check for {$8000.00} from Bank of America. The enclosed letter stated that I had an escrow surplus, that I was more than covered for next year 's taxes, and that I now was issued an overage check. I ensured the letter, the check, and my property tax ( XXXXXXXX XXXX XXXXXXXX ) information were accurate. When I purchased my home, in XXXX, my title company had me pay taxes relative to the sales price of my home. My home was a refurbished/new build, and I was told to pay that amount to ensure my escrow account would have sufficient funds to pay taxes post property value assessment. In XXXXXXXX XXXX XXXXXXXX, I received a tax bill from the XXXXXXXX XXXX XXXXXXXX, stating that I owed over {$5000.00} in property taxes. Bank of America pays my taxes from my escrow, and I had received the escrow so I did not think that anything was wrong. Early in XXXX, I received a notice of property tax nonpayment, and I was informed that my home would be auctioned ; I immediately contacted Bank of America, and I inquired why my taxes had not been paid. The representative, on a recorded line, told me that I did not have any taxes due, but I had already confirmed with the XXXX XXXX XXXXXXXX that I indeed had a tax bill. During the call, the representative informed me that they checked my tax information and confirmed I had no tax liability. However, I corrected her error, and the representative confirmed that she had incorrectly managed my tax information - resulting in Bank of America incorrectly assessing my escrow and creating a shortage. Bank of America paid the overdue property taxes, but my escrow account is now short by thousands of dollars. I have tried, over several months, to work with Bank of America to resolve the matter, as I stated that it is unconscionable for them to have admitted, on a recorded line, to mismanaging my escrow account and forcing me to pay for the resulting shortage. I was told that my case would be escalated and reviewed, but no one returned my calls or emails about the matter. In XX/XX/XXXX, I received an escrow analysis letter from Bank of America, with a note that my monthly mortgage payment would automatically increase by over {$1100.00}. I called Bank of America and asked why my case was not addressed and why I instead received an escrow analysis and automatic mortgage payment increase. I was told that my case never " made it to review, '' and the research team needed time to investigate. Today, I spoke with Bank of America customer satisfaction, and the representative informed me that the researchers concluded that my escrow analysis was correct, due to the payment of the overdue taxes. I explained that this conclusion did not address the issue raised, that of Bank of America 's escrow mismanagement. The representative stated that the research looked sound to her, and she would note my complaint. I am reaching out now to CFPB, because Bank of America continues to ignore the fact that they mismanaged my escrow account and my tax analysis, which was noted twice on a recorded call. They have imposed a monthly payment increase, and Bank of America has ignored my complaints. I am well aware of my rights and that Bank of America has a duty to properly manage my escrow account and payments made from it.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation