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Bank Of America Home Loans / complete disregard of escrow close date

1 Brea, CA, United States

If you are trying to make a decision between Bank of America and another bank, or if your loan will be processed at the BAC Home Loan Processing Center in Brea, CA, please read this review. We are currently in escrow with Bank of America Home Loans, and it has been a complete nightmare. Actually, everything was going smoothly up until the week ago. Our loan processor told us that after he received the last two pending items, our latest bank statement and the termite clearance, that we would go to underwriting and that we should close on time. As soon as both items were ready, they were sent to our processor two days later. And then he disappeared. We didn't get confirmation that he received the documents, we weren't told that we were in underwriting, he didn't return phone calls FOR THREE DAYS. In the meantime, emails were flying all over the place between buyers, sellers, escrow company. Three days later, which was two days before we were supposed to close escrow, he sends this message. "Whew. I've been out for three days and am trying to catch up on my paperwork. BTW, we're not going to be able to close on time". My jaw just dropped because I had realized that our file sat frozen on his desk while he was gone.

We contacted his manager by phone and email, we were not contacted. We contacted another manager in the same department and were not contacted. It is now the day after we were supposed to close and we just got a message from the manager. It was a general message that explained that our processor had an emergency and had to leave unexpectedly and that we were now in underwriting. No apology, no explanation of how they were going to makeup for lost time, and why/how our file was abandoned. We are now closing late, on a date that has not yet been determined. My husband and I both have a steady income, high FICO scores, turned everything in on time. This delay in funding is clearly due to our processor's absence.

Do not choose Bank of America. They have horrible customer service skills, will treat you like a number, and have no regard to sticking to a timeline.

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