Bank of America denies employee loan modification horror story

Bank of America is defending itself after a former employee criticized the company’s call center policies. The woman said, when she worked in the call center, bank policy allowed her only three attempts to notify loan modification applicants of key paperwork they needed to take care of.

The woman said she worked at the Bank of America call center in Tempe in December, calling homeowners to schedule notary service and finish up modification paperwork. But she says she quit in disgust over policies. “You get three attempts and that is it– whether your phone’s busy, left a message, no answer. That’s three attempts,” she said. “After three attempts the file gets closed.”

Read more from AZ Central

Posted in Bank News, Banking | 12 Comments

12 Responses to “Bank of America denies employee loan modification horror story”

  1. Mark G Cooper says:

    I too worked for two evenings at the Bank of America call center, calling to set up Mobile Notary to have borrowers sign in some cases Loan Modifications that the borrower did not agree to. I witnessed many times, we would set up the Mobile Notary in the evening to have the Day Shirt, only cancel the appointment. Then the set the appointment again the next night, during night shift and then the day shift cancel. We were told not to be concern as to whether or not, any Mobile Notary actually did accomplish this task but that we carefully noted that we tried.

    Ok I get it, BofA, proves they tried but never wants to actually do it, that is get people to sign accepting the Loan Modification just that BofA attempting to offer it but never intended to notarize the actual consumer’s acceptance of it. See, the writing on the wall, Look Mr President Obama, we are documenting we are trying to give Loan Modifications to our customer but they just won’t sign the papers.

    So you lead a Borrower to the Loan Modification but you can’t make them sign?

  2. Lawyers says:

    Attempting only 3 times to notify someone does not seem to be a ‘nice’ thing to do. But the bank’s defending against this, so wonder how far this is could be true…

  3. Linda B says:

    I worked as a temp for Bof A in Glendale, CA. I tried to help homeowners who wanted to do a short sale. I was fired because I had a heart. The bank would loose documents not once, not twice but 20 times over deliberately giving wrong fax numbers. Employees were not trained properly, managers refused to really provided help. I had one manager keep a real estate agent on hold for so long, that the agent hung up. Why because the manager did not know herself what to do. We were lied to just like the agents and homeowners were lied too. As a result left a bad taste in my mouth and I have pulled all my money out of the bank as well as telling my friends and neighbors to do the same. A bank with so much disorganization and confusion, can not function properly and NO ONE should trust that bank with their life savings. I’m not just saying this out of anger but I have worked for many places in my life and this experience has been the worst of them all! I will never set foot in that bank again. I’d rather walk ten block out of my way then patronage that bank again and I’m sure many others feel the same way. Word of mouth can be very damaging.

  4. Cindy S says:


    included in this email is a copy of the complaint that I have filed with consumer affairs regarding my frustration with the Loan Modification Program with BANK OF AMERICA

    Company Name = Bank of America Making Home Affordable / Home Retention
    Company Contact = Several
    Company phone = 1-800-669-6607

    Incident = I am currently on disability from a work related injury since May of 2009 – and my husband is a self employed contractor in Shasta County CA. where his business is down considerably, loss of income has caused us financial hardship and we were advised by a credit counseling service to apply for A Loan Modification from my loan service r BANK OF AMERICA, who purchased COUNTRYWIDE my original mortgage bank. I Filled in the questionnaire on line, learned I qualified for the program and within a week or so, I received documents in the mail to fill in and return with 2 current bank statements,(Dec . 09 – Jan 2010) letter of financial hardship & Financial assets and etc. This is the beginning of the nightmare… documents that were sent FEDEX & signed for seemed to disappear in January. Sent again in February with February\’s bank statement just to make sure they had all current information. Docs received and signed for via FEDEX on FEB. 24th scanned into BANK OF AMERI
    CA SYSTEM on MARCH 6th 2010. As of MARCH 17th, All Paperwork in order, nothing more needed and \”our account is in review\”.. should know in 60 days or so… April 28, 2010 I receive a letter from Bank of America that my loan modification was declined because I failed to send in documents. I call Bank of America & inquire what documents did you not receive, I was told they had everything and that I should not have received that letter because the system shows that we are still in review, continue making trial payments of $997.49 (which is about 1/2 of our normal mortgage payment of $1888.00) which I did over the phone that day. Something told me in my mind to call back and double check on the status and I was told by a different individual named that same afternoon \”Britney\” that my modification had in fact be denied as of APRIL 28th, 2010 because of missing documents and when I asked her what was missing she looked through all of my docs on File and stated that everyth
    ing was there, nothing was missing and applied for an Appeal on the denial.
    This should take about 2 weeks call back in 14 business days. On May 24, 2010 I decided to check on the status of my appeal and was told no information yet that I will be contacted within 30 days from the date of the appeal. Called on June 1 and made my house payment and as far as the status of my appeal.. \”Well\” the gentleman named Cecilio on the other end of the line said \”I\’ve seen it take up to 45 days but it should not be much longer, Friday June 4th, I received a phone call from the home retention department and was advised to contact a FREDDIE MAC counseling service to discuss loan modification options. I called this Morning (Monday June 7th) and when I explained that my loan was in appeal she advised me to contact The BANK OF AMERICA LOSS MITIGATION DEPARTMENT – I was told by a MR. Rosario at extension 6686 that My appeal was INVALID and had been denied on MAY 28th for \”MISSING DOCUMENTS\” But we can check into some other type of options for you and after a few
    more financial questions, including we would reevaluate your modification if you could increase your income by about 25% or I was told that I could qualify for a \”Different Program Called NATIONWIDE HOME RETENTION PROGRAM,\” this would make my payments 1105.15 ($200.00 more than my trial payments) go ahead and get your mortgage paid up to date to the tune of 7k and some change and send to this fax number, The following – your 2 most current bank statements, financial docs, letter of hardship etc. ARE YOU KIDDING ME !!! I inquire to Mr. Rosario at ext. 6686 What documents are they missing? No idea .. get the information that we just spoke about sent via fax with in the next 4 days and call this number they will be able to tell you what documents are missing.. I contact a Rich Bober who does not know what docs are missing either and he works for the Home retention department with B OF A, Call the Hope Line – this began 5 hours of being transferred from one department to a
    nother, every time I would get the run around – MISSING DOCUMENTS WERE BANK STATEMENTS RECEIVED IN MARCH that seemed to have Disappeared from the B OF A computer files & can only be found in the computer records at the HOPE Department and when I spoke with the HOPE department they would contact the Home Affordable and the Home Retention program to try to help get the information across to Bank of America that the statements that they claim are missing are in the files dated MARCH 06 to no avail.. because HOPE HAS MORE RECORDS AND these departments do not have the same files… imagine that ! WHERE I ASKED DOES THE HOPE DEPARTMENT GET THE INFORMATION THAT I SEND TO BANK OF AMERICA… well, you guessed it… but BANK of AMERICA does not have the SAME INFORMATION!!! What a Joke! after being transferred to 6 different people today and told different stories by each one as to the information that they have, my husband had had enough and asked to speak with a supervisor we were transferred to ANA MARIE who shows in her records that the paperwork that I sent in JANUARY was finally uploaded into the system on MAY 5th 2010 and I was denied \”officially my APPEAL on MAY 11th ??? WHAT????? The underwriter was never given the documents that I sent in February and they now do not have those records in their files that were there a month ago. I was not asked for ANY OTHER DOCUMENTS during the preceding 3 months, and we can\’t appeal an appeal and we will need to start the process all over again… I feel sorry for the employees that work for BANK OF AMERICA and are most likely AWARE of the internal finger pointing and run around THEIR CLIENTS and CUSTOMERS are getting from one department to another department and not taking any stand to help solve the problem. I CAN NOT BELIEVE THAT THESE SIMPLE CONVERSATIONS WITH THIS COMPANY HAS CAUSED THIS MUCH STRESS AND CONFUSION… YOU PEOPLE MUST BE ON DRUGS TO THINK THAT WE WILL CONTINUE TO PUT UP WITH THIS BULL

  5. Derek Delgado says:

    Ive been fighting with BofA for about 2years now. They originally bought out my loan from Countrywide. I guess im partly to blame for taking on a SUB-prime loan. Although I did at the time have the money and credit to refinance. Unfortunately I had a series of events that unfolded that I couldnt keep up with. I first had a investment property in Jamaica queens. Let me first start by saying, NEVER ever invest in that area of Queens, NY. Its a sh*thole and the majority people that inhabit that area are horrible, selfish people. Back to my story…..I had 3 apartments in the building. I did live there for about a year when I first purchased it. After getting my second house with a sub-prime loan, I moved out. Hoping that within 18 months I could fix it up and refinance the new property. But alas I made the mistake of renting to a section 8 family. On a side note NEVER EVER use section 8. Im not sure completely what happened, but the section 8 dept said that my tenant didnt keep up with their paperwork and because of that I didnt get the subsidized check from them anymore and that’s after 3months!! If anyone has every dealt with section 8, they do not pay the whole cost of the rent. I also never received the balance from those first three months from the tenet. So after a few months of trying to fix this issue being a diplomat between section 8 and my tenet, I had no hope after one day being threatened by the tenet to leave her alone. Police, as always were no help, they told me to evict her. So to make this story a little shorter after another 12 months of this I finally got her evicted. Not before her lifestyle and actions forced out my other tenants over those last 12 months. So not only did I loose out on the section 8 tenets rent but also the other two apartments rent as well. This combined with the total disregard for property. The apartment occupied by the section 8 tenet was completely destroyed, i mean completely. All the carpets had been covered in various stains, the whole apartment stank. Holes in some walls writing and markers on all the others. Kitchen was a mess, they broke the fridge, tiles were cracks, facet was leaking, stove didnt work anymore. Bathroom was a horror story. I completely remodeled the top floor.
    The other two apartments had squatters that kept breaking in, all the appliances were stolen, someone was breeding pitbulls in the basement. It really was that worst situation I have ever been in. As I tried to get other tenants. As this was happening my new property started showing signs of disrepair, you know the kind that you cant tell when your looking at the house, but run into the problems as you live there. Just to give you an idea, the roof started leaking in my living room, two bedrooms and kitchen, pretty much had to do the whole roof again, idiots didnt use flashing on any of the dormer-ed windows on the second floor . Of course there was plumbing issues, cuz joe shmo (previous owner) had to do everything himself, very poorly I might add. Had tremendous water damage the insurance company wouldnt pay, had to redo all carpets, walls, furniture.
    Then of course my girlfriend at the time told me she was pregnant. nine months later i had a baby girl. Three months before she was born, I tried to refinance. Since my savings were dwindling quick over the last couple years. I had been trying to sell the Jamaica property, there was no one living there, not legally anyway….and no one would buy it with squatters living/staying there trashing the place. So I let that go into foreclosure. Which in turn screwed up my plans to refi my new place. When my sub-prime rate skyrocketed to almost 12%, I stopped making payments. It was putting my monthy payments to over $5000 a month, just in interest. I naturally called the bank first to let them know my situation and that I could not make these outrageous payments. All they said was I signed the contract and I was obligated. So I stopped paying. Down the road, the govt programs started popping up, so I thought I was saved……WRONG.
    BofA is a mess all their dept’s do not share information, Ive been in modification for about 2 years and making trial payments for 11 months. Ive paid two seperate modification companies to help me with this and im still trying to save my house. No matter how many documents I send in, so many times Ive sent the same thing over and over to them. Its crazy, the ridiculousness that this company puts you through. You would almost think that they were run by the govt, how inefficient they are. Im beginning to think that they are doing all this intentionally. Why im not quite sure yet. But this ordeal has really made me HATE these large corporate banks. I keep as much of my own money as I can out of them. I would never invest in them. I will never do a CD, or savings account or anything through any big bank. I cant explain how much I hate BofA and their business practices. The people you talk to seem to not even care that its your home that your trying to fight for. Its disgusting that we live in this great country and companies like this are allowed to strip us of our money and then when things get tough, they kick us to the curb. I thought that Americans were suppose to unite and work together for the better of our country. All these banks care about is their bottom line, profits and stockholders.
    I think everyone should take their money out of these big banks and invest in something else, stop using credit cards to their max….lets bleed these banks out. They will continue to do whatever they want until we band together.
    BofA has another thing coming if they thinkn they can just kick me out of my house. Good luck BofA…….your going to have to evict me!!!!

  6. Brandon B says:

    Everything this person claims is 100% true. I worked in Loss mitigation, and on numerous occasions, borrowers would call asking for update statuses and I would on most occasions say that we needed documents because a third party called hope team would lose all of the documents that were provided to them, or they would not scan all sides of documents provided. They would also only call three times and kick you out of the mod process and they would not leave messages. I can not tell you how many times I would ask a trainer or manager a question and than ask the same question to another manager or trainer and get a different answer. The right hand doesn’t know what the left hand is doing. I watched a guy quit the other day because he was tired of being told to lie to customers. He pulled them all in a conference room and told them all that he can’t see how they sleep at night and one manager laughed. I stood up walked in and joined him and quit. My site was in westlake I was number1 out of 120 in my training class. I was one of twenty left in my class. This place is awful. The person who Bac is defending themselves against is being 100% honest.

  7. Bailout Recipients for President says:

    Bank of America’s loan destruction department and Hopeless Team should be ashamed!!!!

  8. kelly says:

    This is my complaint to B of A when I was denied over and over for a loan mod..

    I have been a loan client of Bank of America since 2008 after they absorbed my original loan company, Countrywide Mortgage that my mortgage was with since 2001. I have always had an impeccable payment record and never missed a payment. Since the housing market crisis last year, and as has been the case with many others caught in it, the mortgage on my home has surpassed its current market assessed value.

    As a single income mother with 2 young daughters, and due to the loss of child support income, I proactively sought your assistance and applied for a loan modification with Bank of America at the beginning of this year. I had submitted my original application on January 27th, 2010 but sent my February mortgage payment in full which was received on February 5th, 2010. It was not posted until February 19th, however, which apparently made me delinquent. The cancelled check does show it was received the first week of the month, but it was placed in a forbearance account and not entered into the record.

    I was informed that I pre-qualified for a loan modification and was placed on a trial plan for a three month period. I went ahead and paid the modified trial payments of 1208.37 for the months of March and April. Not having heard anything about the status of the modification, I contacted your institution on April 15th to inquire. It was at this point I was informed that the application had been denied the previous day, April 14th stating I was not in imminent default. I never received a denial letter and I was advised that, despite all the money sent in during the trial period having been received, my account was now showing as severely delinquent.
    I was then told that I would be referred to a different department of Bank of America who would see if I qualified for an alternative program. I was to receive an application packet within 2 weeks. Nothing was ever received. I recontacted Bank of America again and was told that I would receive something within 10 days that the bank was backlogged with applications and they would send it out.
    Again, nothing was received.
    When I called back, I was now informed that, due to the loss of child support not being considered a qualifying hardship, the timeframe to work out an alternative solution had expired and I was in arrears in the amount of $3800 which would be required immediately to bring the account current. Not to mention I was told to “try to make it a year in the house and I could apply for a mod again at that time”.
    I explained that I could not afford this amount which was the reason I attempted to be proactive and contacted you at the beginning of the year in the first place.

    Instead of working with my situation, I feel I was set up to fail just so your company could foreclose on my property despite all my attempts at wishing to work out an amicable solution. I now have to move my self and my kids all because I attempted to proactively save my house but you didn’t feel I was at risk of hardship nor did you feel my loan was worth modifying to keep my family in our home.
    I don’t understand why the trial payments were good enough for the trial period which was put in place to see if I could make the payments, which I could in a timely manner yet I was still denied. Why set up the trial period payments with a borrower if you are just going to deny them at the end of the period. That’s what the program was intended for correct?
    The making home affordable plan was designed to help homeowners keep their homes. I also understand that the government helps the mortgage companies who help their clients. I have been making this mortgage payment for over 10 years without 1 late payment ever and when I needed the help you were not there to assist me.
    When you have a borrower able to make those trial payments and fulfill the loan obligations on the property it makes no sense that you would deny them and take on a foreclosure. When I entered into this I was not delinquent, my loan was paid on time every month. Once entered into the program I was then delinquent and denied. The modification states that once the trial payments are made that the loan would be modified and the payments would continue at the rate the trial payment was set at, not to mention if your mortgage was over 31 percent of your income you were eligible and my income is 52 percent of my income yet I was denied. I do not understand the practice here.
    I will let people know of my experience with your bank not that it will make a difference to your institution but other people need to be aware that you do not help those that actually need it. We will be moving but I just wanted you to know this was one home you could’ve helped save from foreclosure.

  9. Trish S says:

    NACA was the excuse B of A used on my “denial”…. my story is almost identical to all the others I have read before this post. Numerous faxes, phone calls even the employee names are the same mentioned in three of the posts on this page!? I was told they couldnt talk to me because Naca had closed the file, and they cannot open it! I started to laugh, I thought she was joking, I am the mortgage holder, they are the lender but they or I can’t “open” my file. Who uses “open” the file, I asked her, do you mean access my file, she said she could not talk to me and hung up. I told her I had called several times before and I have not have anyone refuse to speak with me. I have a release the same naca release I have faxed in 5 times before. It was three months just for the right agency to get the release. I am still in the process…. its been one year!

  10. Mark L says:

    B of A doesn’t want to modify loans !!!!! They make out much better by foreclosing or doing short sales instead because the government covers their losses.

    My wife died a year ago in August in the midst of trying to modify her mortgage ( I am on the deed only) She was accepted into a loan mod with Countrywide in March of 2009 with terms she could afford. We knew at this time that she had pancreatic cancer so getting this mod done was huge for us.
    She signed the agreement, had it notarized and sent it overnight to Countrywide. They claim the paperwork arrived ONE day late and therefore she no longer qualified. Then two months later a letter came from B of A saying they were the new lender. They offered a 3 month trial payment plan only they wanted $350 more a month than what Countrywide had offered. It’s obvious that when B of A took over they didn’t like what Countrywide had offered my wife previously so they made up the story that Countrywide didn’t get the documents on time and therefore had a legal loophole to deny her.
    So when B of A sent the trial payment plan offer, my wife informed them in her hardship affidavit that she was dying from pancreatic cancer and was on SS Disability payments and a small AT&T pension and that they needed to expedite her modification before the cancer took her. Well needless to say 6 weeks later she died and B of A didn’t get it done in time. Now it is more than one year later and they are still sending my wife letters and calling the house asking to speak to her about her loan ! Even more disrespectful is the fact that I faxed her death certificate to B of A almost 11 months ago and they actually lost that too !! I have the name and employee ID and fax number at B of A where this and 20 other pages of documentation were sent and no one knows who this person even is ! How do you lose a death certificate ???
    So now B of A wants me to assume the mortgage that was in my wife’s name and they will not discuss the loan with me until I do this.
    Unless I fax them ANOTHER death certificate they said they will continue to call here and send letters to my wife as if she were still alive. They want me to assume a loan that now is being offered at 7.74% with a payment of over $2500 a month which is more than double what Countrywide offered in March 2009. The say if I do not assume the loan with those terms ( which I cannot possibly afford on one income now) they are going to foreclose. It’s simple blackmail. B of A already knows my wife could never afford that monthly payment so they offered this ridiculous modification because they are bound by law to do so yet they ultimately know they will get this house back soon.
    So I have decided to sue B of A for this gross incompetence and infliction of severe emotional distress for what they have done to me and my family and also the complete disrespect given my wife during and after her illness.
    I have had my Congressman and the Connecticut Attorney General contact upper level management at B of A and despite their intervention into this situation the bank has simply ignored them completely too. They could care less.
    This is the reason why B of A isn’t modifying many loans. It isn’t because of the backlog of borrowers it’s because modifying them is the last thing they want to do. It is and always will be about money and their profits.

  11. I have read the plethora of Bank of America horror stories. I cannot blame any homeowners for a class action law suit. During my process of the loan modification process I have experienced the same previously mentioned issues. Losing documents and resubmitting paperwork for the past six months has truly taken its toll. However, if Bank of America likes to waste money with repeatedly sending documents by Fed Ex, that’s on them. The bottom line is that I will short sale my home when it’s all said and done than to continue to deal with Stank of America!!!!

  12. C.Reid says:

    Not only does B of A not want to modify loans, they are actually lying about it. Myself, and several other people I have tw were told that they were actually getting the modification, but in reality it was a refinance. I asked several times “is the the Obama plan” and each time I was told it was… I was even asked what I thoughg I could pay each month. After I received the papers, I called and questioned the new monthly amount & was told that was just an estimated amount and the amount I had given was being considered. I signed, and later when I realized I had actually been misled into a see, if they could get you to re-finance b-4 2009 it automatically disqualified you from the so called modification. I have even tried NACA…..bottom line B of A are lying crooks that has no desire to help anyone but themselves.