Bank of America Mortgage Complaint

Bank of America Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting Florida

I applied for a refinance loan with bank of America. I was paying all closing cost at closing I was just refinancing my property for a lower rate which would have in effect gave me a payment of $300.00 less each month. The first time I applied that application for some reason was cancelled out without any notice to me after supplying a lot of financial documents. A new loan application was generated by bank of America and I had to provide numerous financial documents again that were lost or misplaced by Bank of America. After numerous inquiries by Bank of America on my credit report they denied the loan for excessive obligations in relation to income. Bank of America was provided corporate returns and personal returns. The corporate returns reflected the business paying ALL my financial obligations which are not many. i.e. Mortgage, all utilities, all credit expense accounts etc. The business returns even showed a profit after paying those items and has shown a profit for the past ( 9 ) years. I also take a $12.00, - draw each year from my company which is 100 % unobligated money because all expenses are paid by my company.


Bank of America is discriminating against me as I excercised my rights under the Equal Credit Opportunity Act. One more thing, Bank of America had an appraisal of the property completed and it showed $85000.00 in equity in the home. As we both know banks appraise the property very conservativly. Obviously for the past 9 1/2 years my company has paid all my bills including the current mortgage ( never late ) and made a profit every year after paying all expenses related to my debt and the business expenses ... ... not to mention the $12000.00 I get for my pocket every year. Bank of America clearly discriminating against me and wrongfully denied the loan. I would like to mention I have been a bank customer of Bank of America with my business and personal accounts for over 10 years.