Consumer complaint received 2026-04-05 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Delays in the application process
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
Complaint Against : Bank of America I am filing this complaint regarding the mishandling of my mortgage application by Bank of America, which resulted in significant financial risk, stress, and disruption to a time-sensitive real estate transaction. From the beginning of the process, I acted in full good faith and complied promptly with every request made by the bank. I provided all required documentation, often within the same day it was requested. Despite this, I was repeatedly asked to resubmit documents that had already been provided, sometimes days later, indicating a lack of internal coordination and proper file management. I was explicitly told that all communication and updates would be handled through the Home Loan Navigator portal. However, this process was inconsistent and unreliable. My calls and emails frequently went unanswered, and I was not provided with timely or transparent updates regarding the status of my loan. Based on the banks representations and continued requests for documentation, I reasonably relied on the expectation that my loan was progressing toward approval. As a result, I moved forward with a time-sensitive property purchase and committed substantial funds into escrow. During the process, I was informed that the property would be classified as an investment property rather than a primary residence, which would increase my closing costs by approximately {$3000.00}. Although I disagreed with this classification, as I intended to live in the property due to work requirements, I nonetheless agreed to the additional cost in order to proceed. After waiting several days for an update, I received an unexpected phone call informing me that my loan was denied due to my debt-to-income ratio. This explanation was both abrupt and contradictory. Early in the process, I had already been informed that my debt-to-income ratio would require a higher down payment, and I clearly stated that I was willing and able to meet that requirement. I asked for the specific amount needed and confirmed that I would provide those additional funds. Given that these issues had already been identified and addressed, it is unclear why they were later used as the basis for denial without any further communication, clarification, or opportunity to proceed. I did not receive a formal written explanation at the timeonly a brief and unexpected phone call. I have previously held and paid off a mortgage with Bank of America, maintain excellent credit, and was told I would be treated as a preferred client. The handling of my application fell significantly below reasonable standards and demonstrated a lack of transparency, accountability, and professionalism. The banks delay, shifting requirements, and failure to properly communicate underwriting concerns caused me to proceed under false expectations, resulting in avoidable financial exposure. I am requesting : A detailed written explanation of the reason for denial, including what specifically changed during underwriting. A full timeline of my application, including when key decisions were made. A formal review of the handling of my file, including repeated document requests, failure to communicate, and deviation from stated communication channels. Appropriate remediation for the financial impact caused by my reliance on the banks actions and timeline. I believe Bank of Americas handling of this matter was negligent and caused avoidable harm. I am seeking accountability and a formal response.

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