Bank of America Mortgage Complaint

Bank of America Mortgage department,

Home equity loan or line of credit Credit decision / Underwriting Maryland

Was denied a home equity line of credit after a 2 1/2 month application period in which I was continuously asked to provide additional income, tax return information and supporting documentation. Due to the extreme length of time to make a decision, Bank of America has pulled - credit reports which has reduced my credit score and prevented me from being able to apply through another lender. I was told that my debt to income ratio was too high and credit score too low to be approved. This decision was reached after a 2 and a half month process? Had this decision been conveyed in a reasonable time frame I would have been able to apply through a different financial institution without additional credit being pulled and reducing my credit score. Every time the bank has asked for additional documentation, it was provided by my wife and I in a timely fashion. I would ask that the board investigate both the reasons for loan denial since it was not clearly explained and why the process took 2 and a half months to make a decision after telling me that my income, debt to income ratio and credit were not an issue.