Here we go again.
Another borrower that doesn't have a clue what is happening.
No idea of the money situation.
I'd guess they've charged her unreal extra charges.
Somebody needs to tell this borrower to get all the checks that she wrote
and Fairbanks cashed alongwith the checks issued by the bankruptcy trustee.
She should see a sample of a mortgage amortization schedule so she can get an idea of what she should have paid.
Print it out and use it as a form to make entries on re: checks and payments.
It is just plain wrong for a borrower to believe that Fairbanks is going to
provide them with an accurate accounting. It is in their best interest to keep the borrower in the dark and unsure of the status of the loan.
This is the kind of post that I have trouble reading over and over and over and over.
Point her to "Best Practices" and to write a QWR under RESPA for each
violation cc: at least HUD and FTC, her attorney general.
She thinks Fairbanks owns her mortgage note sold by Equicredit. I had a difficult time figuring who owned my mortgage as I had the same deal
with Equicredit. Equicredit still exists and Fairbanks-SPS has the servicing
Sounds to me like she is ready to fight and at the end of her rope.
Maybe she'll do the work required to get the infractions documented.
Hope Mike finds a way to reach her.
Bankruptcy always seems to be a short temporary delay of the inevitable.
She may not have the money to get a Mortgage Analysis by a Forensic
CPA but it sounds like her case may be too complicated to be helped
by the Amortization Calculator except to get a rough idea of what has happened to her money.
This sure sounds like pre FTC-HUD, Curry, et al behavior to me.
I came to the conclusion a long time ago that SPS-Fairbanks couldn't
handle mortgage payments with simple math it takes to apply payments to principal and interest.
So, I don't care what their records show. I always prefer to see what a mortgage analyst thinks of the loan. I prefer to attack their business
ethics and calculations to be of no value whatsoever and should not
be used by the borrower.
I wonder why she thinks another class action lawsuit is going to help her
anymore than it did before.
Now is the time to go for sanctions against them. "Best Practices" violations are actionable. Borrowers need to look for violations. Should this behavior
be contempt of a court order? I think so.
"Best Practices" was meant to be a benefit to borrowers in return for the small money settlements. This for that. Protection for future borrowers that end up with their loans being serviced by Fairbanks-SPS. It is also meant
to protect current borrowers as well.
God, this irritates me.
If nobody holds them accountable, they will weigh the risk believing that borrowers will do nothing to protect themselves from violations and continue to do it.