Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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OK...originate loan in February of 2000, it was assigned to Alliance Funding, A division of Superior Bank fsb, in April of 2000. As we all know, Superior was taken over by FDIC. Alliance no longer exists, but holds the note?? For the past 7years I have sent my payment to the servicer. For the past 2 years, there has been nothing but interest applied to my loan. I guess my question is this....Where is my money going??? For almost 8 years I have paid 126,000 in interest and only 4000 in principal. When I ask my servicer to explain this, and how payments are applied, they send me a payment history. I don't need a payment history, I can do that myself, I need to know How you are applying payment, and to whom the actual payment is going????Any help at all would be greatly appreciated. Oh..I did contact the FDIC, and they seem as confused as I am.

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HmmMm.... Ummm...Melissa? Your loan wouldn't, by any chance, have been securitized into the Merrill Lynch Mortgage Investors Trust Series 2002 AFC-1 would it? Did the servicing rights to your loan happen to transfer in October of 2001?

Re-read your note ASAP. That should lay the parameters as to how your payments SHOULD be applied. If I'm correct in my assumption of your servicer - even if I'm not - it sounds like you should get a forensic accounting done on your loan ASAP. And at the same time start looking for a good consumer protection attorney.

Drop me a line directly if you like as you may already have a target painted on you and both your (assumed) servicer and several of their legal counsel monitor this board regularly.
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Moose
Melissia Campbell wrote:

OK...originate loan in February of 2000, it was assigned to Alliance Funding, A division of Superior Bank fsb, in April of 2000. As we all know, Superior was taken over by FDIC. Alliance no longer exists, but holds the note?? For the past 7years I have sent my payment to the servicer. For the past 2 years, there has been nothing but interest applied to my loan. I guess my question is this....Where is my money going??? For almost 8 years I have paid 126,000 in interest and only 4000 in principal. When I ask my servicer to explain this, and how payments are applied, they send me a payment history. I don't need a payment history, I can do that myself, I need to know How you are applying payment, and to whom the actual payment is going????Any help at all would be greatly appreciated. Oh..I did contact the FDIC, and they seem as confused as I am.


Melissia, depending on the interest rate on your loan and how it was ammortized, almost anything is possible. There are some "simple interest" loans that can actually turn into a negative ammortization loan, particularly if there have been payments that were even a couple of days late.

Chances are the servicer is improperly applying the payments as you suspect, but you won't get what you're asking for on the phone. The person you're talking to simply clicks a mouse and the computer spits out the payment history. Answer-click-ignore-repeat.

As suggested above, find your mortgage documents and determine how the amounts are supposed to be applied. Then write a RESPA QWR letter (USPS certified, return-receipt) showing your calculations vs. their's.  They have to acknowledge the receipt within 20 days and respond with answers in 60.

Copy the letter to HUD - find your local office:

http://www.hud.gov/localoffices.cfm

And call them to ask where to send the copy, and to whom. Normally I would say it is the "Field Office Director," but it is always better to have the name of a person.

If the servicer fails to acknowledge and/or fails to answer the question, contact that person and HUD will contact the servicer.

This very formallized, documented process is what Congress designed into the law as a consumer's "administrative remedy."  Unless you've at least attempted to resolve the issue in this manner and the servicer has repeatedly ignored you or flat-out lied in their response, you're going to have a hard time finding an attorney to bring suit.

There's lots of information on how to write QWR's out there as well as on here.

Moose






 
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Joe B
Melissa-

     Before you get too much further down the road, I would like you to do me a favor. Please go to the website pasted below, and put in the specific details of your loan. In other words, amount borrowed, number of years, interest rate, etc. Then, ask it to spit out an amortization schedule. Compare this to what you have gotten from your servicer, as it relates to the loan history.

     Without the specific details, I am painting with a very broad brush. However, based on what you have described, I am not sure there is anything at all wrong with your loan. It is how loans work, you pay very little in interest initially, but with each passing payment, the ratio inverts.

     There certainly may be more to the story, but before you get too fired up, check this first...

     Then, we can help you some more if there really is a problem.

http://www.dinkytown.net/java/MortgageLoan.html

Note: you may have to install a Java application; it is perfectly safe!

Let us know if we can help!

JB
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Assuming your loan is a normal 10,15,20, or 30 year note and not a simple interest, ARM, or some other type of exotic loan, then you can use the calculator at the following URL to see exactly how each monthly payment is to be applied to interest and principal:

 

http://ray.met.fsu.edu/~bret/amortize.html

(This one works really well and does not require Java Script)

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Just a word about these two calculators.

First one.  I couldn't get it to work when I plugged in my info.
Kept coming up with a huge balloon payment, so I don't know
what it looked like exactly.

the second worked okay for what it is. 

It will tell you what you have paid per year.

I must have messed up on the first one as I am apt to do now and then.

Still, I hope that you would consider running the calculator that breaks
down each and every payment you've made that gives you totals for every month.  Especially, if you are trying to pin down where they made their
mistake.

Once you see one laid out month to month for the life of your loan, you'll
be able to see exactly where they erred in their calculations.

If you paid more money than what this calculator shows, then you've got
a rather large issue to deal with. 

You find out how much you've actually paid by either using your cancelled
checks or whatever other method of payment you used. 

Add them all up.  Get the total amount you have paid them.

After you do that, then go through it again to see where the fees came in,
if any.  Let's say you got tagged with a late fee and you deserved it.  Then add it in on the right column.  If you got tagged for a late fee and didn't deserve and they collected it from a principal and interest payment, you've
got your proof.

If it is not clear to you what you are looking for or looking at, please post
your questions.  This is important for your financial well being and for your
lawsuit if the need arises.

If you use this correctly, you will be able to tell whoever you are speaking
with exactly how much money you have been fleeced, if any.

Dee


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Melissa your loan is likely but not necessarily calculated by

the rule of 78ths. If it is your early principal payments are

closer to the value of 1 and your later payments more closely

resemble a value of 77. Of course interest is the exact opposite.

Naturally a 10 year note looks much different than a 30 year note.

 

But no matter how you calculate it I can tell without running

numbers if everything you say is correct and there are no special

caveats, there may be something wrong with your current ratio
unless we are overlooking something.  If after 8 years or 96 months
you have paid $126,000 in interest and only $4,000 in principal I
smell a rat.

 

What is the length of your note? 

What is the size of the original loan?

 

On your payment history take a look at your first payment.

How much was applied to principal and how much to interest?

 

Then on your most recent payment 8 years later how much

was applied to principal and how much to interest?

 

Since your name is not disclosed this is less than invasive

information..

 

                                    *******

        Where there any unique terms in your contract?

 

                                    ******* 

 

I honestly think we are overlooking something quite basic.

Give Mr Ed full input and I’ll give you an answer.

 

MR :~? ED

 

Ed Cage  |  1804 Cross Bend, Plano Texas 75023  |  972-596-4363 |  ecagetx@gmail.com

 

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Ok..Original loan amount was 161,048.52 in April of 2000. Loan closed in February 2000. First payment due April 1, 2000.They applied 51.48 to principal on first payment.  This is a 30 year Adjustable rate. Initial interest rate was 11.5%. Payment amount was 1595.36/month. I have a copy of payment history...don't know if that would help??? Payment went up to 1700 per month in May of 2001. Then down to 1600 in November 2001. They show us as making our very first payment late?? Really don't think so...but would have to go back and pull all of my check books from 8 years ago. I don't know if this is any help, or what you need to answer my questions, but any advice would be greatly appreciated. Oh, by the way, our payoff is now 166,112.29. And yes, I added it up...we have paid 129,683.39 in interest and 4,251.43 in principal, and 829.12 in so called late fees over the past 8 years. I will never be able to pay off this loan at this rate. Again...thank you for your time and interest. There is a lot more to this story, but I would take up an entire page trying to write it all down.

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Melissa, who got the servicing rights to and/ or the note itself when Superior imploded?

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noodles
M. Campbell,

Sounds to me like you haven't bothered to Get your documents together. That is the first thing you need to do.

Get file folders, and get organized.

First you want to get your copy of the Loan Contract and staple that to the front of your folder.
Here's a list of things you should compile:

1. Copy of Loan Documents
2. Every bank statement, showing payment to Mortg. Company.
3. Every Check written to Mortgage company. Chronological order.
******* Please, Please make sure to keep track of Bank Statement Envelopes, Bank Statements and Checks.

You should Number the back of each bank statement envelope in Chronological order. First Statement ever including a Check to Mortg Co. should have the #01 on the back of it. Now find the check, Staple it to the Bank statement.

***MAKE SURE YOU DO NOT STAPLE ANY OF THE PROCESSING DATA ON THE BACK OF THE CHECK.*****
 
Now write on the top portion of your Bank Statement #01.

Next month you will do the same process writing #2 on the back of B. S. envelope, and at the top of the B.S.

4. Now you also want to be sifting through these checks to find any payments you have made to the County Property Tax office. These checks will also need to go onto your Bank Statement.

5. Same thing with Home Owners Insurance. You need all Checks written to them

6. Have a Flood Insurance policy you pay for? Do the same thing.

7. Now begin organizing all of your Monthly Billing Statements.

8.Any Notices you have received in the mail from your Mortg. Co.AGAIN*****YOU MUST KEEP TRACK OF THE ENVELOPE, IN WHICH A DOCUMENT COMES OUT OF. THE POSTAL DATES ARE

A MUST HAVE. DO THE SAME PROCESS NUMBER THE BACK OF THE BILLING STATEMENT ENVELOPES,  AND NUMBER THE BACK OF THE BILLING STATEMENTS. THIS HELPS YOU KEEP TRACK. AND THIS IS A MUST DO, WHEN SEPARATING DOCUMENTS FROM THEIR ORIGINAL ENVELOPES.

Your next step will be:
A. Writing a Q. W. R. to your Mortgage Co. Requesting a copy of ALL "ACCOUNT HISTORY PAGES"

Not much more you can do until you have some Records to look at and compare.
Chances are, you have been swindled thousands of dollars.
Your Account History Pages from your Company are KEY!


Type the words RESPA into your browser. This stands for
Real Estate Settlement Procedures Act.

Also you might want to try looking up an on-line mortgage calculator.

There used to be one at http://www.bankrate.com don't know if its still there, but there are others if not. Type in your info, get the figures, then retype the info in for when your ARM adjusted to the higher rate, and reconfigure the amounts. This should give you the appropriate amounts paid to principal and interest to date.

Hope this helps some.
Have any more questions, just ask.

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Mike,
As far as I know, Public Savings has had servicing rights since we closed. They assigned the note to Alliance in April 2000, I have a copy of the assignment, but they say they still own the note. Thats my big question...if they assigned it to Alliance, then who have they been "servicing" this loan for?? The FDIC is looking into this for me.

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Noodles,
I do have my documents together...and I have requested a complete audit of my account, but they just keep sending a payment history. The problem is..I didn't get monthly statements until October 2006, when Public Savings sold to Gelt financial, and this is when I started asking questions, that no one at Gelt can answer. I will send the RESPA letter, as you suggested. They are very rude, and when I call they say things like "our Legal Team is looking into that." I never get a response.
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noodles
M.Campbell,

Ok, ty for clarifying.
Well you've now got more work to do:

You want a Billing Statement for every month you were with Company number 1.


Now you need to write another Q. W. R. to Servicer/Company Number 1 Stating:

When you held Account # 9724389-XYZZXY; you did not send any Method of documentation to our address for "supposed" loan. This method of documentation would be in the form of a Monthly Billing Statement.

I request that you send a copy of each monthly billing statement to me beginning from 9/07/02- 09/07/12 in which your Company was responsible for Receiving payment, and processing payments on such loan.

Please help me keep an accurate record of all accounting on this loan, as it appears that some errors have occurred during your Servicing of said loan.

Please provide the Billing Statements in a timely manner.

*****Now you'll have to wait for the 60 day period.
If they don't send them to you. It shows their failure to comply to you since you specifically asked them to help you keep an accurate record. It also shows their non compliance for wanting to resolve any errors, that you feel might be present on the loan.

Whoa Baby~!

You then have two choices, you could try to send them another Q.W.R. Requesting the Billing Statements AGAIN, noting in the 2nd Q. W. R. their failure to comply, and help you resolve any discrepancies, or errors associated with the loan.

OR......... You can file small claims suit for failure to comply with RESPA.

BTW. You will also want to send them a separate Q. W. R. requesting your "Account History Pages" from them also.

Hope this helps.
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noodles
M. Campbell,
also please clarify which company has the legal department looking into the manner?

If it is your current servicer, look out. As when your loan is placed with the "legal department" they are usually on the fast track to Foreclosure.

You need to find out if your state allows for recorded telephone conversations. If it does, you should probably get a telephone recorder and record the conversations you have with them.

Others here will tell you to stay off of the phone completely. Sometimes, however....... that is not possible when there is a dire situation you are trying to immediately resolve.

If you are speaking with them on the phone always, have your questions written down in a note book before calling, get the name, operator number, department, and their job title, of each person you speak with.

Never raise your voice, or cuss at them, or insult their integrity. LOL! LOL! LOL!  They bring out the Grrrr in us but don't let it show.

Again, if it's your new servicer that has your loan in Legal... Be careful, things can happen rather quickly.

GOOD LUCK!
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Ohio
Have you been able to determine anything from your 1098 mortgage interest statement you use to file your taxes?

At least it will show what they are paying themselves in interest. The difference in what you paid and the interest they deducted should be amounts applied to principle, escrow, late fees etc.

This alone will not provide "to the penny" results, but will give you a good idea of where part of the money is going. One known variable in their equation of greed and confusion is better than none.

My 1098 listed late fees, principle applied and taxes paid as well as interest paid.

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We have paid nothing but interest on our loan for over a year.  I have a payment history, and for 1 1/2 years nothing but interest has been applied to our loan. Every payment I have made of 1434.85, has gone completely to interest. When I ask for an explanation, they keep saying because you owe back interest. How can you owe back interest when your loan is current?? Or is it really current? After reading all of these posts, I can't help but think that they have somehow made it look as though we were late, which would put us into "default" and then they get to collect "extra" charges???? Oh what a nightmare. Sometimes feel as if I am going crazy. But, I am learning. I have spent endless hours reading and researching. I will not rest until this is done, which seems like could be a very long time. Thanks to all who have taken the time to respond.

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Joe B
Melissa-

     You need to get out the actual loan documents. I know you said you have an ARM, and it looks like it is adjusting every 6 months. However, do you have an interest only option? It looks like you must, because it is highly unlikely that any servicer would allow you to short your payment (which is what you are doing if you are paying interest only).

     An interest only ARM allows you to make just the interest portion of your monthly payment. The idea is "payment flexibility," but what it really means is that you are not making any headway on your mortgage, and it really is nothing more than rent, in my opinion. I think you may have stumbled onto your actual issue here.

     I feel like we are working with partial information. In order to fully understand your situation, we must know the loan details. Otherwise, we are all guessing as we try to help. Not everyone is a victim of servicing fraud, even if you are being serviced by some of the really bad ones. You might be, but I am not yet sure based on what you have posted so far.

     I think you need to look at every ARM adjustment at every 6 month period, and determine if it has been calculated properly. Run the numbers through the calculator I recommended earlier in the month. Then compare what the payments should be, to what the payments were made by you. See if there are any discrepancies.

     Then, if you have an interest only feature, you need to figure out what you want to do. Then you need to go back and look at how this payment amount was determined. You also need to understand how an interest only feature works, and if it is really what you want/need. Again, I am not sure you are being wronged in any way...yet. I think you need more information before you can know for sure. The information you need is the details of your loan, and how your payments adjust, etc. Only then can you understand what is happening, and if it is harming you in any way.

     I hope this makes sense. Please look into the details, and let us know.

JB
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Dear Melissa you are quite fortunate in that I see that there is an impressive

array of *excellent* help for you already as I eluded to in our private email

.correspondence. And now yet another extremely competent poster Joe B.

has offered his help and said essentially what I said in my post: http://www.websitetoolbox.com/tool/post/ssgoldstar/show_single_post?pid=23630008&postcount=7

“I honestly think we are overlooking something quite basic.”
  
Melissa I’m as good of a numbers man as you will ever run across.. In circa

1995 I was hired by Jerry Jones to calculate the exit fees and tax ramifications
for the Dallas Cowboys withdrawing from Irving Texas and moving to another
venue.  My figures were published in two papers and nobody anywhere ever
found a single flaw. Even in these days of automatic calculation programs there
is another ingredient that must be applied and it is my strength: Common sense
.application of the pertinent issues at hand and spotting the absence of same. 
      Joe B. has hit the nail on the head.  There is something quite pertinent here
that we are simply overlooking.  

 

Your first payment of $1595 with about 1% going to principal and 99% going to

interest on the loan you described is about right believe it or not.  Remember

theoretically you will be making about 359 more payments if all goes according

to the 30 year monthly payment schedule.  That means your last payment will

be roughly 99% principal and 1% interest.  So far so good.

 

But here’s why there appears to be something significant missing. ..Even with an

ARM adjustment (very significant) you just mentioned.

 

The fact that after eight (8) years you have only paid off an est. 3.3% of your

principal sends up a big red flag saying, “What are we overlooking?”  That’s 26.6%

of your 360 payments that have been completed and while we know it should be

nowhere near 26% nonetheless it is well below where it should be.

      I am also intrigued by your input that “I have a payment history, and for 1 1/2

years nothing but interest has been applied to our loan. Every payment I have

made of 1434.85, has gone completely to interest. When I ask for an explanation,

they keep saying because you owe back interest.”

 

Here again I agree with Joe B.  I think what we may be overlooking is the *TERMS*

of your subsequent ARM adjustment. Remember you started out paying 1%

principal v 99% interest on your first of 360 payments.  That’s about right!  Then

the “interest only” gadget kicks in which I suspect as Joe B. does, originated with

your ARM adjustment terms.

  

My overview is that after we look at the terms of your ARMS contract adjustment
you should then check your payment history to see if money was being skimmed
off the top to cover late charges, bogus charges, or drive-by inspection charges
which escalate when the loan is in “default.” .. These charges, legit or not, are
then again skimmed off the top of your regular payments causing more late
charges and keeping you in default. .  “Default” is a broadly interpreted and abused
word to say the least. 


Demand monthly statements and get a payment history of all of your suspense,
escrow, corporate advances etc.  IF they will give you same.. They may not!! 
(EMC has incredibly declined to give me those charges which is another matter
.altogether.)  
 
Write "To be applied as a regular payment ONLY" on the back and front of all

subsequent checks regular payment checks.

 

We are missing part of the puzzle Melissa. Can I ask who your servicer is?

 

Ed Cage  |  1804 Cross Bend, Plano Texas 75023  |  ecagetx@gmail.com  |  972-596-4363

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My servicer is Public Savings Bank. They are owned by Gelt Holdings. Thank you for the information...and to Joe B. also. I am not a numbers person, so I am presently going over the terms to try and figure this out. When I do, I will post them. Thank you again.

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Ok..I do know this much...our loan is a 3/27, with the first 36 payments that were supposed to be 1595.36, and then adjust in April 2003 at 1851.92. This is what the TILA disclosure statement says. I do know that in May 2001, one year later, our payments were 1700/ month. My adjustable rate rider states that my "change dates" begin on March 2003, and every sixth month after. Based on the Libor as published in The Wall Street Journal. Calculation of changes is by adding 7.3% to the current index. Original rate was 11.5. Ok, hope this helps.

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M,

May I suggest that you sit down with some paper and handwrite
the facts of your loan.

First, the contract date and the terms

11.5 % adjustable every 6 months.  Total amount of the loan

Who pays taxes and insurance?

What date are your payments due?  On or before the 1st?
Grace Period?  Do you realize that your check should be there on or before
the 1st in order to be timely.  If they receive it  on the 10th, it is late
but no late fee assessment is allowed until the 15th.

Get out your cancelled checks.  Record any payments you made as down
payment or for anything else.

Then make a list of your payments from day one.  I know it sounds like a lot of work but it is really 12 checks a year and you can do it.

make columns:
Date of check, amount of check, date your check was deposited by the servicer, the date your check cleared your bank.  Date your servicer
credited your account.  How was the check attributed?  Principal, interest
and escrow for taxes and insurance, if any.

try to find their web site, if they have one.  I got much clearer explanation
of what they did with my check than speaking to the robots on the phone.

Look for patterns and mistakes and note them each month.

Next find a mortgage calculator...just type it in your web browser and choose one that looks good to you.  I suggest it should tell you what each monthly
payment is and how it is attributed to principal and interest. It will keep
a running tally on how much you've paid and how much you owe.

Just copy off the first 6 payments eventhough it is a 30 year loan.

Since it adjusts every 6 months, you'll have to run a new one each
time it adjusts.

PMI insurance you buy if you have less than 20% down.  That's throwing money down a rat hole but if you do have it, you are entitled to select
your own insurance carrier and OMG you would be able to get a copy
of the policy since you are the customer and not the servicer.  I can't even
imagie what they are doing to borrower's money on this topic.

It goes against any general business practices that the person paying for the policy doesn't get a copy of it.

Anyway, all this is leading up to one goal.  You should be the expert regarding your loan not some mortgage company and not some predatory
mortgage servicer.  That is a recipe for disaster.

Last thing, dig out any and all correspondence to and from anyone concerning your mortgage.  Put it in date order and insert all these
papers and checks in a three ring notebinder.

You've made your evidence package should you need or want to hire a lawyer to represent you.

Please keep asking questions so you can understand what is happening
and get some ideas what to do next.

Dee
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Excerpts from Melissia Campbell:

"For the past 2 years, there has been nothing but interest applied to

my loan. I guess my question is this..Where is my money going???"

 

"I have a payment history, and for 1 1/2 years nothing but interest has

been applied to our loan. Every payment I have made of 1434.85, has

gone completely to interest. When I ask for an explanation, they keep

saying because you owe back interest.”

 

 

Melissia have you asked your servicer Public Savings Bank WHY they say

you owe back interest?   I'm beginning to suspect this may be considerably

less complex than we originally thought. Their start up figures appeared to be

correct in my view. Then something happened beyond a routine ARM adjustment!

 

If I were you at this point I'd focus on that particular (above) question first.

 

Ed Cage  |  1804 Cross Bend, Plano Texas 75023  |  ecagetx@gmail.com  |  972-596-4363    

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Ohio
M Campbell wrote:

Ok..I do know this much...our loan is a 3/27, with the first 36 payments that were supposed to be 1595.36, and then adjust in April 2003 at 1851.92. This is what the TILA disclosure statement says. I do know that in May 2001, one year later, our payments were 1700/ month. My adjustable rate rider states that my "change dates" begin on March 2003, and every sixth month after. Based on the Libor as published in The Wall Street Journal. Calculation of changes is by adding 7.3% to the current index. Original rate was 11.5. Ok, hope this helps.

You don't say if there is an escrow account for your taxes and insurance.

If so then a payment increase for the 2nd year is common.

Escrow accounts are reconciled yearly. Any increase in property tax in a prior year will result in an adjustment to your escrow payment for the coming year. 

This increase would have nothing to do with an adjustment to the interest rate.

You may want to look at your end of year escrow analysis for the year 2000.

Secondly,

You said your total payment is being applied to interest only but you also say you do not know how your payments are being applied.

I'm confused as to how you know the total payment is going to interest if you do not know how the payments are being applied?

Could you elaborate as to how you determined everything is being applied to interest?
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Ohio

I just noticed this...

M Campbell wrote:

...our loan is a 3/27, with the first 36 payments that were supposed to be 1595.36, and then adjust in April 2003 at 1851.92.


M Campbell wrote:


... Every payment I have made of 1434.85, has gone completely to interest.



Your payment decreased?

Was this loan modified somewhere along the line?



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Dear Ohio:

Ms. Campbell's first initial payment on a 30 year note was

okay.. I checked it out.. She was later subsequently affected

by an ARM adjustment and consequently she reported she has

now been paying interest only as a result for 1 1/2 years.

 

Please see my posts #18 and #22 above for a more coherent

updated and much more accurate overview.  See:

http://www.websitetoolbox.com/tool/post/ssgoldstar/show_single_post?pid=23944651&postcount=18

and

http://www.websitetoolbox.com/tool/post/ssgoldstar/show_single_post?pid=23961093&postcount=22

 

 

Also the help she has received from Moose,

Joe B., and Mike Dillon has been exemplary.  I have told her

as much in private email communications and she is aware of

that fact. Ms. Campbell greatly appreciates all the help you and

others might possibly add.

 

.   She is a 100% genuine person who has come here for help.

.          Anything you can add Ohio would be appreciated.

 

Ed Cage  |  1804 Cross Bend, Plano Texas 75023  |  ecagetx@gmail.com  |  972-596-4363

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We do not have an escrow account. We pay our own insurance and taxes. As far as I can tell, our payment has only adjusted one time during the course of our loan, and it actually adjusted down, from 11.5 to 10.5. I sent a respa letter out on Saturday requesting monthly statements, complete audit of our account, and explanation as to how they determined how monthly payments were applied. I also requested a copy of all documentation related to our loan from origination to present, including any adjustments that were made.

As for "Ohio"--I guess I do know how my payments are being applied. Maybe I should have worded that differently. My question should have been why are they all going to interest. I know it all goes to interest because I have a copy of the payment history. Which is my big concern. This is where I get the run around on the phone. They say they will look into this, and you never hear anything back.

I agree with Ed about the beginning of our loan. It started out right, and then something happened. This is what I am trying to figure out.

Another thing I thought interesting, they do not report to the Credit Bureaus. Does anyone know why they wouldn't report?

Again, thank you to all who have offered information. It is greatly appreciated.
M Campbell
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Fed UP
Oh Dear!  Sounds like you are in a quagmire of paperwork here.  Okay, you don't have an escrow, do you have a suspense account? 

And I haven't followed your story 100%, but have you contacted your consumer protection agency for the state you reside in?  They were very helpful in my situation. 

What helped me the most, and what lead to investigation by my AG office and then my class action attorney to understand the whole thing was a ledger.  I did 2 of them.  One by my records and one by theirs and then did a comparison of where they differed.  I guess kinda like an audit.  And your RESPA letters, where they certified? 

You keep saying you "call" and they promise to look into it.  Well technically by law if you "call" they may not be obligated, but if you write I think that they are (again not an attorney here!)  This article is a synopsis of the Gonzales-Cranston act.  The first part most likely does not apply to you, but further down the page they go thru the time limits a MS has to respond to a borrower's inquiries.  Hope that that this many help you. 
http://mortgage-home-loan-bank-fraud.com/legal/Obligations%20of%20Mtg%20Servicers.htm 

Karen
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No escrow, no suspense account. Yes, my letter was certified, with return signature. I am currently going thru all old bank records, writing the dates they were sent and posted. Trying to figure this out. I have contacted the WV Division of banking, the AG, and the FDIC. 
Thank you
Melissia
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Fed Up
Okay one last tidbit, but if they do exceed the time allowed by RESPA, I would personally follow the RESPA recommendations and report them with a cc to the MS.  From what I was reading in one of Mike Dillon's posts, there is a bill to raise the RESPA penalties, hopefully that will pass. 

Looks like you are doing all of your homework!  Its grueling and aggitating, but worth it in the end. 

Once again luck and prayers to you,

Karen
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srsd
Hey M Campbell it looks like you have a lot of good advice and a lot of work ahead of you.  One suggestion that I would like to make is.....do not contact the company by phone unless absolutely necessary and if you have to, get names and the time you called....if it is legal in your state, you might even want to record your conversation.  I know a lot of companies record their conversations so maybe that is something you need to check into.  Keep every piece of paper....even the envelopes that have been sent to you plus make a copy of everything you send to them.
Good luck and don`t give up.
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srsd

Also contact the FTC. 

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Ohio
Ed Cage wrote:

Dear Ohio:

Ms. Campbell's first initial payment on a 30 year note was

okay.. I checked it out.. She was later subsequently affected

by an ARM adjustment and consequently she reported she has

now been paying interest only as a result for 1 1/2 years.
 

 
Yes I know....I can read and comprehend quite well. Nothing in my post questions or disputes the facts contained in your summary.
 
She made the statement that her payment changed at the beginning of the SECOND year. Her ARM was not due to adjust yet so I KNEW it could not be that which caused the payment increase.
 
I did not know if she had an escrow account or not...so I asked.
 
Ed Cage wrote:
 

Please see my posts #18 and #22 above for a more coherent

updated and much more accurate overview.  See:

http://www.websitetoolbox.com/tool/post/ssgoldstar/show_single_post?pid=23944651&postcount=18

and

http://www.websitetoolbox.com/tool/post/ssgoldstar/show_single_post?pid=23961093&postcount=22 

 
I did. These posts may be coherent to you but I found nothing in them but comments based on speculation.....no more or no less than anyone else has offered.

 

Ed Cage wrote:
 

Also the help she has received from Moose,

Joe B., and Mike Dillon has been exemplary.  I have told her

as much in private email communications and she is aware of

that fact. Ms. Campbell greatly appreciates all the help you and

others might possibly add.

 
You need not point out to me that Mike, Joe and Moose offer exemplary help. I did not mosey in here yesterday. Also you do not need to express appreciation on M. Cambell's behalf.
 
As a matter of fact I don't think it necessary for you to point out ANYTHING to me Mr. Cage. Why do you butt in and CRITIQUE everything anyone says?? I didn't ask your opinion about anything. If I want your opinion I will ASK for it. I was communicating with M. Campbell....NOT YOU.
 
I find your response to me a perfect waste of my time and everyone else's time who has to skip over it to read actual posts that are in direct response to M. Campbells original response.
 
Ed Cage wrote:
 

 

.   She is a 100% genuine person who has come here for help.

 
I never doubted this or even remotely hinted I questioned her being a "genuine" person.
 
Ed Cage wrote:
 

.          Anything you can add Ohio would be appreciated.

 
So does this mean I have your permission to continue posting here?
 
Are you trying to get this thread locked too??
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Ohio
Mcampbell wrote:

Another thing I thought interesting, they do not report to the Credit Bureaus. Does anyone know why they wouldn't report?


My mortgage with Superior was never reported to the credit bureaus either...When EMC took over the servicing after Superior went bye-bye they started reporting...

I thought it was odd too. Must be something Superior didn't want bothered with.
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