I recently applied for a refinance with Bank of America, and when I signed up in the branch, I was given a rosie picture of the great job they do, and was told they will have the loan done quickly. I was given a rate lock at 4.5% for 60 days as well.
I still haven’t signed my loan docs, and although they say they will honor the rate lock past sixty days, they wont put it in writing. They also are thousands over my good faith estimate. Every time I call, it is a huge call center, and I get the same canned speech, “Be patient you are one of thousands of people waiting.” They admit they should hire more people, because they are behind in the thousands of loans.
They think my loan will be done by september. Steer clear of Bank of America.
Tags: bank of america, call center, good faith estimate, loan, mortgages
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