Mortgage -- Closing on a mortgage -- Complaint #4577545
Complaint Overview
Complaint ID: 4577545
Company: Bank Of America, National Association
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Closing on a mortgage
State: New York
ZIP Code: 10710
Date Received: 2021-07-26T12:00:00-05:00
Date Sent to Company: 2021-07-26T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In late XX/XX/2021, my wife and I started the process of looking for a mortgage to purchase our first home. We settled on Bank of America ( BOA ), despite our lawyer advising against it due to some bad prior experiences. However, BOA provided the lowest rate and closing cost estimate. Long story short, our initial mortgage officer ( NMLS # XXXX ) made various mistakes such as quoting me a different interest rate then what was actually provided. The individual was also not aware of what the processing department ( i.e., underwriters ) was doing because I had to inform the officer when the appraisal will happen and when it was done ( information my realtor provided ). Moreover, when an error occurred, the officer kept quiet and avoided responding to my emails, messages, voicemails. After all the incompetence, the officer 's manager ( NMLS # XXXX ) had to step in and take over our file. The situation only got worse because the manager told me I had to fire my attorney. After a couple of hours of confusion and panic, the manager told me to ignore the request. Apparently, someone at BOA thought my attorney was the bank 's attorney and did not see the name on an approved list. I also learned that it is typical of BOA to leave things to the last minute mainly because the processing department controls the show. The individual processing our file did not get to it until very last minute. My attorney and the bank 's attorney did not get the final documents until after XXXX the day before the close. There is more to the story, but I will end my complaint here. Avoid BOA for your mortgage!
Frequently Asked Questions
What is Complaint #4577545 about?
Complaint #4577545 was filed against Bank Of America, National Association regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2021-07-26T12:00:00-05:00.
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.