My communication with Bank of America:

I received today the 7/28/12 letter of denial for our modification request. The letter specifically states that we were reviewed for eligibility in the "new" principal forgiveness modification program. The types of relief programs available are confusing at best, but first let me be clear that my request was not just for a new "recently introduced" program as a result of the U.S. Department of Justice and State Attorneys General global settlement, nor is my request for consideration under the governments HAMP or HOPE programs. My request was for consideration under whatever guidelines would be specific to my investor, BNY Mellon.


Because the denial was based on investor disallowance, in accordance with California Civil Code 2923.6, I would like to be provided with the specific section of the underwriting guidelines used in the review of my "In-House" modification request which states that no consideration will be given to any loans wherein the first mortgage housing ratio does not exceed 38%. To reiterate, I am speaking here not of the HAMP guidelines, as those are readily available online, I am referring to the guidelines used under the investor's program. 

Additionally, because my loan was originated during the period included in California's Civil Code 2923.6 as originally signed back in 2008, which states that <It is the intent of the Legislature that the mortgagee, beneficiary, or authorized agent offer the borrower a loan modification or workout plan if such a modification or plan is consistent with its contractual or other authority>, I would ask for proof that the anticipated recovery under the foreclosure does not exceed the anticipated recovery under a loan modification. It is my belief that denying a mortgage modification which does not pass this test for recovery because the DTI is too low would be inconsistent with your obligation to maximize net present value of your pooling and servicing agreements.  

Finally, in accordance with paragraph I.A. of the settlement  reached between Bank of America and the U.S. Department of Justice, please consider this email as my formal request to have sent to me the following:

1. A copy of the Note for our debt (including all endorsements)

2. A copy of all assignments of the Deed of Trust

3. A statement of the amount necessary to cure any default as 

of the date of the petition.

Should this email not be considered adequate delivery of this request, I ask that you please notify me of such immediately. 

Thank You,

De Aun Tollefson