Friday, March 1, 2013

BOA Mortgage Modification Processing - Errors Involving BOA's Hope Loan Port System?

BOA Mortgage Modification Processing -  Errors Involving BOA's Hope Loan Port System?

McGrath & Spielberger works with borrowers to save their homes.

I've been dealing with Bank of America for years in mortgage loan relief and loss mitigation cases, some in foreclosure already by the time the case gets to me, some not. I have always prided myself on being objective and non-emotional where it comes to professional situations, and I generally don't believe in conspiracy theories. However, as time goes on and as the "mistakes" pile up to form a mountain, I have become more and more convinced that these mistakes may be, on some level, intentional. Here is the latest example.

In 2012, BOA forced us to begin using a third party, "independent" online platform (called Hope Loan Port) to provide mortgage relief documents in many cases. Despite the system's obvious major flaw (ridiculously, BOA controls when and if you can upload documents in this *independent* system), it does create a record of if and when documents are uploaded (assuming BOA "allows" you to upload). You merely open the computer account/file and there is a record of what has been provided and what hasn't. 

One of our Charlotte-area clients is facing a foreclosure hearing in just over a month. We've been working on her case for quite a while, which involves an FHA loan. We had been waiting to hear back from Bank of America regarding the mortgage loan modification application, which had been completed. The foreclosure hearing was approaching, and we were hoping for an answer from BOA.

Much to our surprise, BOA came back and insisted that we had not provided a Hardship Letter (among other incorrect assertions).

[caption id="attachment_6908" align="alignnone"]Incorrect BOA email regarding mortgage modification documents Incorrect BOA email regarding mortgage modification documents[/caption]

 In fact, the very online platform which BOA forces us to use had logged that Hardship Letter in ten (10) days earlier. 

[caption id="attachment_6909" align="alignnone"]Proof the Hardship Letter had been uploaded to BOA Proof the Hardship Letter Had Been Uploaded to BOA[/caption]

We proved that the Hardship Letter was there. We literally proved it to BOA.

[caption id="attachment_6910" align="alignnone"]An excerpt of the Hardship Affidavit which had been provided to BOA An excerpt of the Hardship Affidavit which had been provided to BOA[/caption]

BOA still insisted that we had not provided a Hardship Letter, so (and I realize this will come as a *shock* to those of you who have dealt with BOA on mortgage loan matters) we were forced to upload it again.

To anyone who may think "So what, big deal, you had to upload a document again" - this odd *error* on Bank of America's part (or error by Hope Loan Port that BOA refused to acknowledge) delayed the loss mitigation process by weeks, as it usually takes BOA weeks to respond and alert you if it thinks something is missing. Each day that goes by, the borrower falls further behind (BOA won't accept payments at this point) and the same bank making these mistakes and delaying loss mitigation pushes the foreclosure lawsuit forward.

We'll keep working on behalf of our clients, and BOA will keep making mistakes. Nothing less than families' homes are at stake.