Since May I Have been working on a Re FI with BofA. My income is high, my Credit is Excellent and my LTV is about 70%.
Everything is fine, so I thought. When I called they said they were backed up and I wouldn't close until August, than Sept than Oct but my rate and deal were located in, not to worry. I paid $400 to lock in 4.5% and loan discount fee of 2.875. All this was stated on my good faith estimate. Finally this week we are ready to close, and the fees have gone up to almost 3.7%. BofA admits it was their fault it took so long. I remind them I paid $400.00 and I was told that locked in my rate and it if it need to be extended I was told BofA would pay. They said no it took to long and we have to charge you. They accept blame, apologize for the inconvenience but will not give me my rate back.
I am not doing the loan and have made a complaint with my States Attorney General. I have kept notes and have names and time of things promised and a Good Faith estimate. I understand it is an estimate but the fees have gone up form about 5K to 8K because BofA took so long and they even admit it was their fault.
Anybody else having issues with BofA.