Bank of America Complaint - Unfair fees, manipulation of HUD Settlement Disclosure
PLANO, TEXAS -- I recently refinanced my existing mortgage with bank of America for a lower rate. Near closing, I was informed I had to pay "about $30.00" for Disaster assessment Fee. This was a new assessment, established well after I had started the refinancing due to summer storms that caused flood damage in my county. I refused to pay the fee thinking that it was NOT in the original disclosure statement plus, had we closed in 90 days instead of 6 months, this fee would not have been an issue at all. After some discussion with a loan officer manager, the fee was to be credited to me at closing. When it came time to close, I had both the old and new copy of the HUD Settlement and saw that I was indeed credited $38.00m but Bank of America then increased their principal reduction Fee by $38.00 to recoup their loss. They blatantly lied to my face plus manipulated the numbers on the HUD Statement.
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