Bank of America lender report: reviews and complaint record
Bank of America is a national mortgage lender offering diverse loan products and a digital experience, with 100% on-time responses to CFPB complaints. However, prospective borrowers should be aware that a significant portion of consumer complaints relate to payment processes (33.7%) and struggling to pay the mortgage (30.9%), and only 14.7% received relief. While some borrowers praise communication and speed, the bank also faced a recent $12 million CFPB penalty for false mortgage data reporting.
Borrowers filed 579 mortgage complaints against BANK OF AMERICA, NATIONAL ASSOCIATION with the Consumer Financial Protection Bureau in the 12 months since 2025-08-19, most commonly about trouble during payment process (33.7% of complaints). 100% received a timely response. Complaint volume tracks servicing portfolio size, so compare the mix of issues rather than raw totals.
What works well: Bank of America operates nationally across all 50 U.S. states and Washington, D.C., offering a wide range of mortgage products including conventional, FHA, VA, and refinance loans. The lender responded to 100% of consumer complaints on time according to CFPB data from August 2025 - August 2026. Many borrowers have reported positive experiences with responsive loan officers, effective communication, and timely closings, with some instances of closing in less than four weeks.
What to watch: CFPB data indicates that the most common complaints for Bank of America concerned trouble during the payment process (33.7%) and struggling to pay the mortgage (30.9%) between August 2025 and August 2026. Only 14.7% of CFPB complaints were closed with monetary or non-monetary relief to the consumer in the specified 12-month period. Bank of America was ordered by the CFPB to pay a $12 million civil money penalty in November 2023 for reporting false mortgage data, a matter that was resolved by June 2025.
Educational only — not financial advice, and not an endorsement of any lender.