Bank of America Mortgage

We have been attempting to reach Stephanie ** at 1-800-943-2975 for 5 days now. She hasn't returned our phone calls or emails. Her voicemail said call back if she doesn't answer. We did and some very nice reps answered the phone, but weren't really helpful. On the 5th day we asked for her manager and she never answered or returned our calls. I'm the listing agent for the house for sale and will never accept an offer from a buyer who has this bank as their lender.

Due to Covid it took many hours of extra work to get all the documentation that was needed to close escrow. Loan Originator Sylvia ** was extremely helpful and diligent about all details. Closing took a little longer than expected but went through without a problem.

Bank of America is less than sub-par. I've had my 30-yr mortgage with them for 17 years now and it recently went from forbearance because of COVID to a modification (basically just moving the Apr-Oct 2020 pmts to the end of the period). However, their internal systems can't seem to show the payments applied correctly. I keep getting called incessantly by their reps to collect “unpaid” statements, except when I point out the letters they sent me where everything is perfect, they apologize lamely but fail to fix the error(s). They've even recently reported the supposed missed payments to the credit agencies which have caused my credit ratings to drop 100 points. They are an awful servicer and not competitive on initial rates. Avoid them unless you have some connection with an internal banker and they are your last resort.

It has been a painful past couple months in trying to reach out to BoA mortgage customer service department to retrieve the additional monthly payment that was deducted via auto-pay from my BoA checking account after I had refinanced with a new lender. It's been approx 3 months of trying to reach BoA customer service and getting various answers regarding where and how the funds are being returned and still no clear answer. I have refinanced with other lenders and had much better experience with them in such scenarios.

Lender - If the call is dropped and you have my call information then return the call. At least pretend to want to help an already existing bank customer. Note that folks always remember poor customer service. I may not have millions at your institute but what I do have can always be moved to a place that values their customers.

I have a mortgage with BoA and I recently took advantage of the postponement program they were offering to people who are having a hard time during this pandemic. 3 months of payments postponed which was great, but do not do this. They sent me a letter stating my three months were up and if I needed any more assistance. With some good luck, I was able to secure a new job and didn't need assistance anymore.

We were with B of A for some time and asked for refinance at the much lower rates many were refinancing on. They started the process. Week after week we checked back they said our lower rate was almost finished, come to find out, they sold our mortgage out of state, to a lender with high rate and didn't let you use your house equity to upgrade the home. Terrible experience.

CITI electronic payment not applied -BofA could't find $$$. I made an electronic bill payment to my Bank Of America account from CITI bill pay. CITI removed the dollars from my account when they had a clear receipt that BofA cleared the funds. I entered my checking on the BofA account code. The BofA never applied the payment to my account. I called Bank Of America and they said that they don't know where the dollars went. They claimed that they did not receive the funds. They couldn't find any payment. Neither bank could tell me what happened to the payment. Bank Of America was useless in resolving my issue. I had to wait for 1.5 hrs for the mortgage to answer the call. And all that they could is...that they don't know what happened to the funds. Very frustrating bank.

We have never been able to qualify for a business loan despite having a credit score over 770. They have discriminated against us because our Real estate investments are in the inner city. The bank only approves us for high-interest credit cards in our personal names and not our business name.

My first mistake was refinancing with BOA. My original loan was with them in 2013, as well as a previous refinance in 2018. In 2018, they had issues with remembering basic requests that I had. This time around in August 2020, they failed miserably to pay attention to detail. With COVID, most of the communication during the process is either by phone, or via their chat thread in the BOA site itself. I had to resend the same information multiple times.

I was told my mortgage could go on forbearance for 3 months during the pandemic... Not only NOT TRUE but I was put into credit for nonpayment. I spoke to Melinda **, Denise **, Calvin **, William **, Dominick, Shawna **. A Shanika ** Never answers her phone or call me back. Actually a Supervisor named Melinda ** told you, "Do NOT have to call anymore. We will take care of it," that was July 3 in June. Bank of America hot my credit again, Also as I was calling and getting nowhere, they hit me with a $17.50 charge twice sending someone to my home to make sure it was in good condition since I did not make my payments. I was on the phone with the managers & supervisors above since end of March.. Now I have been on hold for an hr and sent to the wrong dept. 3xs trying to get the $35.00 taken off...NIGHTMARE!

If I could give it negative stars I would. Most onerous, inefficient, confusing process imaginable. It took over 50+ emails & communications back and forth over a period of more than 85 days -- to refinance a mortgage that was ALREADY held at Bank of America. Underwriter would demand a piece of documentation at 4:30 pm and threaten that if it wasn't uploaded by the next morning, our loan would be cancelled. This happened at least 20 times. Even after closing (signed docs, transferred funds), Bank of America continued to demand additional documentation before finalizing the mortgage - with our funds in hand! Representative & manager were completely useless. They were just playing telephone with the underwriter.

Currently with Bank of America, some of the problems I have had with them are they wouldn't allow me to purchase my own home owners insurance, or well they would let me purchase it, they just wouldn't accept it as the policy and they refused to work with my insurance agent to figure it, so they could sell me their own double the cost insurance. Lots of fun they are.... Now trying to refi the loan and the loan officer offered one rate during the whole process and then when we accept the offer she says the rates suddenly went up, even though the fed has lowered rates daily during the virus and they aren't going up anywhere else but Bank of America.... I asked where I could review the rates for refi and they will not explain or allow the consumer to see the rates and they make them up based on what the cost of their new boat will be.... I would NOT choose bank of america, I chose a local bank and they sold the mortgage to bank of america....

My loan officer Mark *** was extremely unorganized. I spoke with him at one point and he said I was approved for a certain amount by myself, then the next day when I spoke with him he told me something different. I then at that moment have to put my fiance on the loan with me. He said he would call him right away because I had explained to him that the home we wanted was needing us to get the approval letter fixed with my fiance's name on it, then they would sign a contract with us. Mind you this was a 830AM. While I was on the phone, my real estate lady said that someone put in a cash offer for the house and that they liked us more, but we had to get the approval fixed THAT DAY. Otherwise they would have took the other offer. I needed things done fairly quickly and I emailed/ called and no answer and my fiance didn't hear anything from him either yet.

Doing refi with Bank of America was the worst decisions I’ve ever made. This loan officer Eddie ** never following up with you throughout this process, doesn’t know what they’re doing, don’t waste your time with this guy. After more than three months this guy will blames on everyone else except himself, I’ve never experienced this bad of a customer services. I had left a message to his manager but also no response, you would think Bank of America would care to know how their employees treated their customers. At this point it’s too late. I’ve moved on. Go with a local lender around your town for faster process and better customer services.

Worse customer service ever. Do yourself a favor a do not get a mortgage or refinance your existing mortgage with Bank of America. I wanted to refinance my mortgage with them. I thought it was gonna be a simple and straightforward process since I have perfect credit, 6 figure W2 income, and there is over 20% in equity in my home. I am also a Preferred Platinum Honors customer with Bank of America. Well, everything was fine until the appraisal report came out which came in like 30k below market value. According to Realtor.com, Zillow, Trulia and Redfin my property is worth from 375k to 390k. I also had my realtor run comps and he suggested the same value. Average price per square foot in the area is like $205 and the appraiser decided to use a comp which value was $168 per sq ft destroying the whole value of my property.

The BOA mortgage loan process is a long and tedious one. Including endless prying into your personal and financial life. But the worst part of my experience was being denied a loan right before closing due to being laid off. No matter how many times I explained I could afford the loan and offered to add on cosigners, the soulless nonpersonal behemoth that is BOA denied me. Just remember that large institutions like BOA do not care about you no matter your situation.

I asked for forbearance and they said that I would have to pay 3 months worth of payments at the end of three months, they are stupid if you lose your job then you don’t have 4000$ or more to make up payments. They are not doing their best to help customers out in these terrible times, and they are getting g relief from the government. Does the government ask them to pay back? They suck. I hate them.

If I could give BofA Mortgage 0 stars, I completely would. I was buying my first house and thought that going with BofA Mortgage would be very easy since I bank with BofA. I was absolutely wrong, especially because BofA Mortgage ISN'T EVEN PART OF BANK OF AMERICA (learned this later). Originally I had decided on another lender with lesser fees but I was told they could not give me a loan due to my limited credit history (I have a great score though). So I asked the lending officer at BofA if this was going to be an issue with them because I didn’t really have any time to waste since I’d already started the closing process. The woman told me it would be fine with the type of loan I was getting.

I'm the banking customer and contacted Jim ** for my new home mortgage needs who played irresponsibly on my closing. Jim had started not to respond my calls and message, so I drove to Limerick Financial Center then he conveyed message that he is busy with other client and call back. He asked me to work with the Bank underwriter on day closing. Underwriter missed few credits to applying to mortgage and then I’m ending up losing money in closing. My mortgage has to close on the day otherwise Builder warns me to lose incentives. Leading officer is also not able respond on-time, she called at the end of her business day when nothing can be done. She confirmed that She didn’t have all credit documentation to properly assign credit in closing doc. I’ve high frustration on closing when I didn’t get enough attention either from Mortgage officer or leading officer.

This is my first time purchasing a home. My situation may be a little more unique than others because I purchased a new build, and BofA was the builder's preferred lender, so I do believe that with pressure from the builder, I was finally able to get the loan closed. I can't really know for sure, but I did hear from one of the sales agents that another unit couldn't close so they had to use their back up lender. So I do not believe having the builder breathing down BofA's necks increased my chances of the mortgage being approved, but it definitely hastened the process. I have to say, throughout the whole process, my Loan person, ANA from the Riverside branch was FANTASTIC.

I feel sorry for anyone who loses a loved one or has someone in terminal care that has a mortgage with B of A. I kept sending in payments but never saw a bill. They refuse to honor court orders while continuing to charge late fees. I submitted the correct paperwork to FOUR different addresses and fax numbers they gave me. Yes, a different customer service person every time said, "Oh that's not the right" number or address.

This has been the worst experience EVER with BOA. I closed with BOA on 11/15 & they have YET to pay my mortgage insurance. I have had to pay it even though it is paid through escrow. Can you believe that they mailed the check to the WRONG address. Supposedly, they “corrected” the issue and sent it via FedEx overnight on 02/06/2020. It’s 02/18/2020 and still NO payment has been received. A manager from BOA actually called ME and told me to call my insurance company and request a refund. I’m so glad that I didn’t because I probably would have been laughed at over the phone.

Many processes, not professional, too stubborn. BOA should close their service on mortgage, definitely. We and many of our friends got denied at BOA, and we got approved in any other banks. BOA staff do not know how to reply to clients' questions. Not professional at all. Avoid it!

Paid off our VA mortgage 15 years ago. Yet, we constantly receive refinance emails (guaranteed!) from B of A. ALL their sites come up as "unsecured". Can't imagine doing any business that allows spam in their name, sends unsolicited emails, and does not provide basic on-line consumer security.

The pre-approval process was fast and we got a good rate. We signed the home contract on 9/27 and I called my mortgage officer and he gave a closing date of 11/7!! The bank schedule the appraisal few days before the closing and of course, they didn't get the report on time. Interestingly, I called the loan processor a week before and she had no idea what is going on and when is the closing schedule or when the appraisal scheduled. She called me two days before and said that she didn't get the report but everything will be on time. Then the night before, she asked to extend to closing to 11/14! The night before she asked to extend to 11/15. Guess what? She never sent a clearness. She stopped answering phone or emails and I had to call a manager who finally sent clearness. Closing was rescheduled. So it was pushed to Monday 11/18.

Started off with a refinance in August, locked a great rate and gave them all the paperwork. Kept following up with documents here and there and everything seemed to be going good. Then come to find out they had trouble reviewing one of my documents. I sent them clear documents and as far as I know they could review them. Then days went by with no response, kept calling and emailing but nothing. Then logged into my account one day and the refinance link was gone. Called to talk to anyone I could and come to find out through them that my application was denied because they had trouble reading another doc. Everything sent to them was prompt and very clear. Absolutely horrible experience. Never got an email or a call stating it was denied, nor given an option to change the documents to their request. Was a banking customer for 14 years until this happened. Would not recommend wasting your time with their mortgage department.

Absolute worst experience of my life using this bank for a mortgage and severely regret it. Expect months of delays, lost paperwork, unending requests for ridiculous types of documentation that goes on for months, 20 different people handling your file, the list goes on. They also charge $1500 “application fee.” This bank has the worst customer ratings of all banks, and it is well documented. Please do not use a big national bank for a mortgage and choose a local one to do your business with.

One of the loan officers messed up an email, which led to all my personal info being sent to a random email address. Then, had to push back my originally scheduled closing date after numerous representations that it would close on time despite the fact that I provided everything they asked of me. After pushing it back 10 days, the bank yet again failed to get through reviewing my file and I had to push back closing again. As with the first time it got pushed, after numerous representations by the loan officer that they would be able to close on time. I'm still waiting for the review to finish up, and at this point have no expectations of them. They really seem to spend maybe around 5-10 minutes a day on your file, and remain unresponsive to any calls or emails. Pretty horrible. Use a different bank.

In my experience, I was the Realtor representing the Seller. BoA contacted me at almost 5 pm on the day of the 2nd scheduled closing to let me know "We're working to close" but of course for the 2nd time we weren't closing. The lack of communication and total disregard for other's time and money is totally unacceptable. In the future, I'm going to let my potential clients know of my experience with BoA and if they are using BoA, that they definitely shop around. People think that they should just go to their bank for a mortgage loan. Mortgage lenders are offering the same products but not the same follow through and customer service. Always shop around.