Bank of America Mortgage Complaint

Bank of America Mortgage department,

Conventional adjustable mortgage (ARM) Application, originator, mortgage broker Ohio

I applied for a home loan at Bank Of America in -, NC on - -. I provided insurance information and agent contact information on the - unit condominium complex on - -. Closing documents were sent to me on - - for a closing date of - - - - -. I learned that BAC did not want a coinsurance clause in the policy. Evidence of adequate replacement insurance was provided to - but I was told on - - that the loan was not approved. Even if the criteria was valid, it was unfair to continue the loan process for 1.5 months and finally cite criteria that could have been known at the start. In that time period rates climbed 1.25 percent and my interest charges are significantly higher with the loan I received at another bank at a - - closing.