Bank of America Mortgage Complaint

Bank of America Mortgage department,

Other mortgage Credit decision / Underwriting Northern Mariana Islands

-/-/- I applied to Bank of America for refinancing of home due to scamming by current mortgage holder. -/-/- house was appraised; appraised value approximately $40,000 less than comparables. Made written complaint to BOA and multiple phone calls. Only responses came from local mortgage loan officer who had to get update from someone else.


Since, received - return phone calls but no others although I tried to get updates. I was told to NOT pay previous mortgage in -/-/-. but in -/-/-. paid because I was three months overdue. Still no response from BOA as to current status of initial application. In -/-/-. was finally told application was cancelled because of concern over appraisal. Offered to reapply which I accepted. Finally closed in mid-/-/-. Before re-fi- application had HELOC which was rolled into re-fi amount. After closing in -/-/-. I received appraisal drive-by update upholding original appraisal but limited MLS inquiry to houses sold to max of $100.000 since date of original appraisal. Three weeks after original appraisal, house - with initial identical floor sold for $40,000 more than the appraisal of my house. As after initial appraisal I made complaint to - which denied any action. Soon after closing on re-fi BOA re-applied for HELOC and was denied for # of delinquent accounts, proportion of balance to limit on revolving accts, too many inquiries in last 12 months, and insufficient length of revolving credit history. Report dated -/-/- for - credit agencies shows-, -, - but another document shows - for credit score. Current report shows - acct- of which have current activity. Others have been paid off. No. of inquiries were elevated due primarily to activity related to re-fi and HELOC activity and one emergency home repair. History reported goes back as far as -/-/-. I don't know where they came up with their conclusions. I am satisfied with the ultimate re-financing but not with the hassles I had to go through to get to that point which had a deleterious effect on my health during this time. I had to talk to too many different people to find out what was going on only to get no response. Then to get this fabricated denial of my HELOC application was a low blow. I think it all revolves around the falsified appraisal.