BOA Refinance and Fraud Alert, Escalation

This may be question to LoansbyJW or any others who faced similar situation.

I have applied for a BOA refinance loan, locked rate, uploaded documents, having good A+ credit score…etc.

While the review is going on, I have got a text/call message from Bank of America Credit card security division asking me whether I am the originator of two credit transactions $4000+ and $5300+ amount international transaction from BATSON N ASSOCIATES LT.

I replied “NO”, talked to the Credit Security team and they acknowledged someone made a fraud with my credit card, and rejected those transactions, told me it is not my fault and transaction will take a month to reflect in my statement. They also closed my credit card and issued a new one.

However, this created an issue to my mortgage refinance as they put a hold, more than 7 days, on my loan until they get clarity on this issue.

Now, my file is not moving anywhere further. I do not have any document, except a new credit card issued. It has 60 days lock and two weeks already passed without any further movement .

How can I escalate further so that my loan process is moving forward?

@LbJW since he’s called out.

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Can you make your mortgage person make a call to you and to your bank (make them initiate the call to a publicly visible number - aka googleable) and have a 3 way call (none of them will release info without you being present). This way you can reach to conclusion.

Never been in this state, but i have been in 3 way calls for minor issues similar to this in nature.


Hope it gets resolved soon…

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agree with Tomato. Had a minor issue on a loan once and WFB themselves requested i initiate a 3 way conference call so that they can get all the questions answered. This should meet the needs of the bank.


You are perfectly right, they worked back ground, The loan officer informed me that Fraud issue is reviewed/accepted. Since is not my fault, the approved it in my favor. I have received conditional approval today at 5 PM.


Bank of America is the worst lender to work with. I had a loan application with BofA a few years and I swore that I would never apply for a mortgage at that bank.

I had similar experience around 6 years before, but recently every lender is like that, harassing full letter of explanation for every bit of information and going through IRS audit kind of back and forth never ending documentation. I am used to it, not to blame bank of america. Again, it depends on the loan officer and UW teams.

I refinanced a bofa serviced 1st mortgage and kept the second (HELOC) that was also with bofa. The new loan was serviced by Bofa. About six weeks later I got a call from bofa saying I was late on my payment. It turned out that bofa applied the loan payoff to the HELOC giving it a hefty credit balance. No one including bofa could explain how it happened.

BTW I was the person who told bofa where the money went about 3 weeks after I received the call. I got the impression that had I not reported it they would have never figured it out. Bofa and the escrow company had determined the payoff was bofa’s Responsibility and bofa were going to “payoff” the original first mortgage.

Since then I have hated when bofa serviced my loans. They made many tiny errors that created a part time job for me to keep things correct. Similar things happened with Countrywide which bofa took over. I hate sloppy.