Be warned about Bank of America Mortgage Practices!! Bank of America has committed mortgage fraud in our home loan contract by changing the status of our loan type and structure of the loan, by adding PMI, "AFTER" the closing, and without notification that they were changing our loan within thier system!! And they most certainly have done this to hundreds, if not thousands of others throughout 2008 & 2009. If you do not pay PMI to Bank of America, then you need to conduct a thorough examination of your loan documents and run the figures through an amorization calculator. There are actually 3 different ways that they could have calculated your loan. I suggest running all 3. We found out the hard way that our loan type was changed when we tried to refinance our current loan with another bank! We had already payed for the appraisal ($350.00 dollars) and the new bank was pulling the payofff amount and found that within the BoA system, the type of loan we had was actually different than what was on our loan documents. When I contacted Bank of America about this they stated that they had payed for the PMI issucance "AFTER" our closing. The PMI department at Bank of America then stated to me that PMI costs were added into our APR and that is why the percentage rate is higher. I then ran the figures and sure enough the difference in the interest rate over the life of the loan came to within a few dollars of the amount that BoA had supposedly payed for, but had actually charged to us in the annual percentage rate!! I have made complaints to the regulatory agencty that governs National Banks, the "Comptroller of the Currency Administrator of National Banks or OCC", they sent the complaint to the bank, the bank responded and apparently directed them not to discuss or release any ionformation to me about this issue. I have also filed a complaint about this with the Texas attorny Generals Office. If you suspect that you are a victim of this fraud as well, you can file complaints on-line as well. Please do so so this can be stopped before anyone else if ripped off by Bank of America!!