We applied online to Bank of America for a new mortgage loan on a used townhome in XXXX XXXX, Florida, on XX/XX/XXXX. Mortgage loan officer, XXXX XXXX, contacted us and began the data collection process. During the next three weeks, numerous documents XXXX financial statements, insurance, sources of income, tax returns, etc. ) were supplied to BOA on a very timely schedule. Our credit card was charged {$440.00} on XXXX XXXX for an appraisal and credit report. All the while, XXXX confirmed that the requested XXXX XXXX closing date should be on schedule. After the appraisal was conducted on XXXX XXXX, XXXX XXXX, Home Services Specialist, called to say our loan package was very clean, that he rarely saw insurance issues already covered at this stage of the application like ours were, and that not only was the XXXX XXXX closing date feasible, but that we should be able to close earlier if desired. On XXXX XXXX, we were contacted by XXXX XXXX, Home Services Specialist, to provide additional documentation. The pace of activities and responses from BOA definitely slowed down under XXXX. On XXXX XXXX she advised the leasehold on the property would be reviewed by BOA on XXXX XXXX. On XXXX XXXX, XXXX days before our scheduled closing, XXXX XXXX advised us that the leasehold approval, and thus the entire loan package, had been denied. BOA knew at the very beginning that the property was a leasehold, as are all properties on XXXX XXXX, having been given to XXXX County by the federal government in XX/XX/XXXX It is inexcusable for BOA to have taken XXXX days to report back to us that the leasehold did not meet their requirements. XXXX asked if a refund of our appraisal fee would " help '' ease our dissatisfaction. On XXXX XXXX and again on XXXX XXXX, I contacted XXXX of XXXX supervisors, XXXX XXXX and XXXX XXXX, to reconsider our application based on our excellent credit, finances, and having been a BOA customer for many years. XXXX concurred that they had " mishandled '' our application by having waited so long to review the leasehold, apologized, but still replied " no exceptions '' to their loan denial. On XXXX XXXX, XXXX called to report that the appraisal refund had been denied. I suspect they did n't want further documented evidence of their wrongdoings. Not only are we out of pocket {$440.00} and almost XXXX weeks of lost time, we have to find a new lender, incur a higher loan rate over the life of the loan and higher closing costs, disrupt our scheduled move, utility connections, insurance arrangements, and hope that the property seller is still willing to hold the sale for us. Our financial losses alone will be several thousands of dollars. BOA should not be allowed to get away with such blatant practices at the cost of the consumer. 
