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Old 04-15-2015, 09:25 AM
 
65 posts, read 59,593 times
Reputation: 32

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Quote:
Originally Posted by Modification Specialist View Post

As for the GFE an estimate of the costs to close the loan (numbers shown are subject to change). Should be included when you sign your 1003 loan application.

Thank you for your advice. Regarding loan application, I was traveling and my broker forwarded the application to a BOA branch near my hotel. I hopped in and signed. I didn't read the whole thing carefully
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Old 04-19-2015, 08:46 PM
 
Location: South Carolina
1,615 posts, read 2,844,295 times
Reputation: 1910
If I'm not mistaken, Bank of America charged me an extra fee to pay my mortgage online. You would think mailing them a payment and making them open it and process it would be a lot more inconvenient than processing a payment through a website. My mortgage was sold to 2 or 3 companies in two years, but I'm pretty sure that was BofA doing that.
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Old 04-20-2015, 10:46 AM
 
379 posts, read 490,849 times
Reputation: 294
They shouldn't charge a fee. My mortgage was with them from 2010-2014 and I can't remember ever paying a fee to pay online. Only if you're sending in a late payment did they charge me a fee. I have to say though, their online interface sucks.
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Old 04-22-2015, 12:57 PM
 
Location: New York
2,251 posts, read 4,173,039 times
Reputation: 1607
Quote:
Originally Posted by nissan View Post
They shouldn't charge a fee. My mortgage was with them from 2010-2014 and I can't remember ever paying a fee to pay online. Only if you're sending in a late payment did they charge me a fee. I have to say though, their online interface sucks.
Dito on shouldn't charge you a fee for making an on-time payment.

As for charging service fees - had business and personal accounts with BOA and Chase Banks. Each month was charged hefty "Service" fees, even if there was no action. Switched to a local credit union - no monthly fees, paying interest both on checking and saving accounts.

..
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Old 04-22-2015, 06:08 PM
 
Location: South Carolina
1,615 posts, read 2,844,295 times
Reputation: 1910
Ok, it must have been one of the other companies I had in a short period of time.
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Old 05-11-2015, 09:14 AM
 
Location: MA
1,172 posts, read 544,156 times
Reputation: 657
ALso going through the mortgage with BOA and man they are slow. I bank with them also and decided to give them a try.

- I did get pre-approved within days of sending the out w-2, paystubs, retirement statement etc.

- It feels like there are too many middlemen in the picture and the knowledge of the middlemen are very limited. I have to jump through hoops to get any answers.

- I also feel like I have to get on their cases to get some things done.
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Old 05-11-2015, 09:54 AM
 
65 posts, read 59,593 times
Reputation: 32
I should say after three rounds of questions, they just called me to answer several questions. After the second round of questions, I was nervous. When I emailed them, I always received an answer within 24 hours. The purchase was completed on time. A thumb up!!!
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Old 05-11-2015, 09:59 AM
 
Location: MA
1,172 posts, read 544,156 times
Reputation: 657
Dora,

Can you give me your timeline from pre-approval to approval and your challenges with them?

Thanks
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Old 05-13-2015, 08:54 AM
 
65 posts, read 59,593 times
Reputation: 32
Quote:
Originally Posted by Asgardian View Post
Dora,

Can you give me your timeline from pre-approval to approval and your challenges with them?

Thanks
Pre-approval (They called it conditional approval) was fast. Within 24 hours. Our FICO scores were over 800. We have a good amount of cash in BOA for a long time. They did try to give me a higher rate than what they quoted for me. Then backed down when I complained and threatened to leave them for another bank.

I got a first list of questions and answered. When I received the second list questions, I became nervous. I worry they might go into our business affiliates' accounts in detail and questions will be endless. On 4506-T, they want some tax forms (1065 etc) that we don't have. All the questions stopped when the seller wanted me to remove loan contingency. They told me to sign the removal. Then, they just called me for one or two more questions. Loan closed within 30 days without other problems. Good luck.
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Old 05-29-2015, 05:31 PM
 
Location: MA
1,172 posts, read 544,156 times
Reputation: 657
Hi Dora,

You mean BOA didn't even ask for your tax transcripts?
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