Bank of America - Need help with late payment reversal

So here's the story:

We're building a new home that was supposed to be finished this month. We've been told that the closing date has been delayed for a second time, and they hope to have is moved in by Christmas.

We applied for a loan and got approved based on the first delayed closing date in November. Well the approval was only good for 90 days max. We had a 60 day lock and a max 30 day extension.

Here's the problem:
My wife has limited credit history but makes good money. The only credit she has is a Bank of America credit card, her car, and our recently-sold-home mortgage. We had a miscarriage back in February, and she forgot to make her credit card payment. The mortgage helped her score a bit and covered that late payment a bit.

When the lender re-pulled our credit score to reapply for our new mortgage, the mortgage was gone because we just sold our house. So the late payment had a bigger negative impact on her score. This caused us to fall below a certain threshold to finance 95%.

My wife called BoA to try and get the late payment reversed out of good will on Friday. All sounded positive and even the rep said she doesn't see why it would not get approved. Today, we found out that she was rejected.

We're pregnant with our first child due in January. I'm hoping someone here works a Bank of America or knows someone that can help us get that late payment removed so we won't be so burdened with penalties from one late payment that happened due to a distracting situation. It was my fault that I didn't think about all finances during that tough time, I just don't want my wife to feel guilty. Her payment before and ever since the late payment have been on time 100%. My credit score is great but only the lowest score is used in mortgage apps. Any help would be much appreciated.

 

We called them instead of writing since time isn't on our side with closing on the new house. My wife called Friday, and they sounded optimistic. She called BoA back today and found out that it was rejected. We explained the reason why she forgot (miscarriage) and that the payments before and after the late payment have been on time and in full. Even the old mortgage was with BoA and no payment was late. But to no avail

 

We're going to try this as well during our lunch hour. We tried going today, but their locations are closed for Columbus Day.

 

Sorry about that. I sped read your post on my phone. Yeah I've tried talking to them first. They said it was a Fannie Mae requirement to have scores and apps in a absolute maximum 90 day validity. Usually it's 60.

 

Tried them as well. They are offering no help since I decided to use another mortgage company other than their in-house. We can still cover the new loan parameters, but with our first child on the way in January, we would be in bad shape financially afterwards.

I almost feel like the builder delayed their closing on purpose because I didn't choose their mortgage company. Friends and family tell us to keep trying even though we've been denied our goodwill adjustment. Reps won't let us get through to the decision makers or supervisors on the phone. Just have to keep trying until someone kindly lets us through.

 

They told me that it would be the same as well. Apparently, the Fannie Mae threshold is truly standard across the board. The builder's mortgage actually requires more downpayment and is a full point higher in interest rate. The best they could do is match my current lender.

 

These are conventional loans. The amount over qualified for FHA

 

It's down to a couple frame issues around double studded areas. I'll post the full export here when I get home for more clarification

 

Just wanted to give an update. My wife called BoA last night to check on the status of her request, and the first rep said they saw a letter was sent and expected to arrive in 7-10 business days. Due to our pressing time issues, she asked if the rep could see a decision at all. All the re could see was that "Service adjustment has been made, letter sent." Don't want to get our hopes up so we wanted to confirm approval. Rep wouldn't budge on confirming. So we got off the phone and called back.

The new rep mentioned how it's illegal for them to adjust their report to the credit bureaus. Wife asked for a supervisor and we talked to him. He said the same "illegal" argument but saw the letter in the system. He mentioned that the letter might indicate that they want more information about our situation. Sounded like proof of miscarriage. That didn't sit well with me, but I'm going to wait for that letter to see what it says. I understand their point of view also. They probably get a ton of these requests and get lied to all the time. Supervisor seemed condescending. Wouldn't even confirm what a previous rep saw about the service adjustment being made.

 

Thanks. I appreciate that.