Mortgage -- Trouble during payment process -- Complaint #10059655
Complaint Overview
Complaint ID: 10059655
Company: Bank Of America, National Association
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: Oklahoma
ZIP Code: XXXXX
Date Received: 2024-09-07T12:00:00-05:00
Date Sent to Company: 2024-09-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
NOT A DUPLICATE COMPLAINT - XX/XX/XXXX BOA Home Loans dba Countrywide was paid {$1400.00} meant for the escrow account of their loan to pay for a XXXX dba XXXX XXXX and casualty annual premium to which the policy was drawn up and submitted XX/XX/XXXXXXXX by a XXXX, OK insurance broker, as well, this amount was billed to BOA dba Countrywide. I made the payment XX/XX/XXXX and under a {$3000.00} overdraft protection policy at BOA NA, the payment was paid to Countrywide XX/XX/XXXX. SEE ATTACHED BOA NA Card as proof of payment. SEE ATTACHED BOA Home Loans Loan History BOA dba Countrywide failed to record this payment to my escrow account. BOA dba Countrywide then required I make a duplicate {$1400.00} payment with my {$1400.00} XX/XX/XXXX loan payment to which I did in the amount of {$2800.00} XX/XX/XXXX which cleared my bank at BOA NA XX/XX/XXXX and both the 2nd surplus escrow payment of {$1400.00} and the XX/XX/XXXX loan payment were both credited to my loan history. XX/XX/XXXX, BOA Regulatory Agent responded to my request for investigation and determined conclusively that the XX/XX/XXXX loan payment reversal on XX/XX/XXXX was specifically meant for the XX/XX/XXXX loan payment and no other payment was intended for the payment reversal, and XXXX XXXX made it clear there was no evidence available to him on XX/XX/XXXX to suggest the reversed payment line entry was meant for XX/XX/XXXX. BOA Home Loans caused every payment from XX/XX/XXXX to XX/XX/XXXX to be allocated one month before the payments were intended, causing inaccurate payment history and loan balances in principal, interest and escrow to be set back one month more in arrears than my actual payments were factually made.
Frequently Asked Questions
What is Complaint #10059655 about?
Complaint #10059655 was filed against Bank Of America, National Association regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-09-07T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Bank Of America, National Association?
Yes, visit the Bank Of America, National Association company profile at readthecomplaint.com/company/bank-of-america-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.