- Report: #116406
Complaint Review: America's Servicing Company
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| America's Servicing Company 7495 New Horizon Way,
Frederick,, Maryland U.S.A. |
|
America's Servicing Company ripoff irresponsible and unreachable, I fear for the future of my home loan Frederick, Maryland
*Consumer Comment: ASC Website
*Consumer Comment: Another day, another victim
*Consumer Comment: ASC Bad? Perhaps. Not horrible.
*Consumer Comment: ASC Ripoff
*Consumer Comment: Smith Family - ASC Took our Home even when we had a Sale contract pending
*Consumer Comment: No problems at all
*Consumer Comment: Ruining my Credit
*Consumer Comment: My nightmare with America's Servicing Company
*Consumer Comment: why is ASC so mysterious?
*Consumer Comment: ASC-Lets get them in court?
*Consumer Comment: Scary Stuff
*Consumer Comment: No problem with ASC
*Consumer Suggestion: Use your bank's bill pay system. ASC apparently knows enough not to game a large corporation
*Consumer Comment: Just sold Loan...so far good
*Consumer Comment: All Good Here!
*Consumer Comment: Good Experience with ASC
*Consumer Comment: We have had good dealings with ASC
*Consumer Comment: This thread made me jump the gun ...
*Consumer Comment: New "customer; loan recently sold to ASC
*Consumer Comment: I just got transferred "sold" to ASC as well
*Consumer Comment: I just got transferred "sold" to ASC as well
*Consumer Comment: OH no! No matter when I mail them they get processed around the 15th.
*Consumer Suggestion: ASC - good luck!
*Consumer Comment: This is amazing, another victim!
*Consumer Comment: America's servicing company
*Consumer Comment: Familiar with ASC! This company is absolutely terrible and a division of Wells Fargo!
*Consumer Comment: ASC's Website, Contact #'s, and Ownership
*Consumer Comment: Can't Contact ASC
*Consumer Suggestion: Forbearance Agreement Is A Fraud
*Consumer Comment: ASC bought my Wells Fargo mortgage and I am nothing but pleased...
*UPDATE Employee: Nice attitude?
*Consumer Comment: So glad to be away from you
*UPDATE Employee: Here Comes the Clue Train
*REBUTTAL Individual responds: One and the same company just changed names
*Consumer Suggestion: Tips for dealing with mortgage companies
*Consumer Comment: I have no love for companies like ASC, and others, who show a poor attitude toward their customers.
*Consumer Suggestion: Online Bill Pay Most offer it for free
*Consumer Suggestion: Online Bill Pay Most offer it for free
*Consumer Suggestion: Online Bill Pay Most offer it for free
*Consumer Suggestion: Online Bill Pay Most offer it for free
*Consumer Suggestion: Ex employee clear your concious
*Consumer Comment: You can help...
*Consumer Comment: You can help...
*Consumer Comment: You can help...
*UPDATE Employee: ASC I will say that this 'company' is owned by Wells Fargo
*Consumer Comment: Yes, they are crooks.
*Consumer Suggestion: Send payment Registered & record at county
*Consumer Comment: Update
*Consumer Comment: To Kaitlyn - Savannah, Georgia
*UPDATE Employee: NO WAY affiliated with Fairbanks! True we are a part of Wells Fargo and we service loans for different investors.
*Consumer Comment: Been there done that...
*Consumer Comment: To Withheld in CA ...They have a bill-pay service that you can do pretty much everything on line.
*Consumer Comment: Words are powerful, be careful how you use them...
*Consumer Comment: Words are powerful, be careful how you use them...
*Consumer Comment: To Kaitlyn - Good job staying on top of everything!
*Consumer Suggestion: ASC is Fairbanks
*Consumer Comment: To Pam - Pana, Illinois ..ASC is a division of Wells Fargo
*Consumer Comment: To Pam - Pana, Illinois ..ASC is a division of Wells Fargo
*Consumer Comment: Dont believe a word they say ASC is Fairbanks ..doing what they do best STEALING HOMES
*Consumer Suggestion: Per M - Harrisburg, Pennsylvania Request....
*Consumer Suggestion: Per M - Harrisburg, Pennsylvania Request....
*Consumer Suggestion: Per M - Harrisburg, Pennsylvania Request....
*Consumer Suggestion: Per M - Harrisburg, Pennsylvania Request....
*Consumer Comment: The Latest on What's Happening
*Consumer Comment: MOTIVE..........???
*Consumer Comment: Hopefully everyone that reads your posts will realize that you have some other motive and will consider the real issue and follow the advice on the other ASC posts
*Consumer Suggestion: Response
*Consumer Suggestion: America's Servicing Company is Wells Fargo
*Consumer Suggestion: Response for Name Withheld in California
*Consumer Comment: I called the HUD # you provided
*Consumer Comment: My loan is being transferred as of Feb 1st
*Consumer Comment: My loan is being transferred as of Feb 1st
*Consumer Comment: My loan is being transferred as of Feb 1st
*Consumer Comment: My loan is being transferred as of Feb 1st
*Consumer Comment: What is the latest?
*Consumer Suggestion: Great Suggestions!!!
*Consumer Suggestion: America's Servicing Company Is Being Investigated!!!
*Consumer Comment: if they screw with my payments I WILL initiate a class action lawsuit
*Consumer Suggestion: I have a suggestion!!
*Consumer Comment: Nothing is adding up
*Consumer Comment: Re: contacts
*Consumer Suggestion: Contact These Agencies!
*Consumer Comment: Regarding second posting on this site
*Consumer Comment: Regarding second posting on this site
*Consumer Comment: Regarding second posting on this site
*Consumer Comment: Regarding second posting on this site
*Consumer Suggestion: I have a loan with ASC
*Consumer Comment: Things have been fine here
*Consumer Suggestion: America's Servicing Company=Fairbanks Capital Corporation
*Consumer Comment: Novastar, give me a break!
*Consumer Suggestion: Pleas Read....This could save you $$
*REBUTTAL Individual responds: America's Servicing Company ....... New Customer as of Feb 2005
*REBUTTAL Individual responds: America's Servicing Company ....... New Customer as of Feb 2005
*Consumer Suggestion: Sending in a payment - beware
*Consumer Comment: No problems here
*Consumer Comment: Lack of Communication
*Consumer Suggestion: America's Servicing Company=Fairbanks Capital Corporation
*Consumer Suggestion: America's Servicing Company=Fairbanks Capital Corporation
*Consumer Suggestion: America's Servicing Company=Fairbanks Capital Corporation
*Consumer Suggestion: America's Servicing Company=Fairbanks Capital Corporation
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On October 30, 2004, I received a notice from Option One Mortgage (dated 10/15) that my mortgage was sold (again) and servicing was transferred to America's Servicing Company in Maryland ("ASC")...effective November 1, 2004. I was given a PO Box at ASC to send the November payment, but no phone number, fax number, email contact, or new loan information. I live in Hawaii and it takes a good 5 days even for "overnight" mail/fed ex/UPS to get to the east coast. Further, I'm not about to mail money to some corporation on the east coast without having at least a loan number to write on the payment to ensure it gets posted properly. Mailing the payment was not an option.
On November 1st I went on line to try to get information on ASC and see if I could pay on line that day. ASC has no web page...what I found instead was this site. I got ASC's phone number from here and called them, but they were closed (time difference, 6 hours). I got a recording saying "the mailbox for extension 3904 is full and you cannot leave a message", so I tried the switchboard extension...also a recording, also not able to leave a message. I tried to call Option One and to reach them on line to get information on ASC, but they don't recognize my loan number anymore and would not give me any information.
I called ASC back during business hours on November 3rd and 4th...more recordings. November 5th came (today), and still no payment coupon or even information from ASC, and still more recordings when I call. From this site I've gleened that I probably can pay over the phone, if I can ever get through to a person. I hate paying by phone, but at least my bank will have a record of the payment date so ASC can't say they didn't receive it when paid.
After what I've read here, I'm very concerned about my payments being posted on time to the right account, irresponsible credit reporting, and the real potential for my property taxes and insurance to not be paid by ASC.
I used to run the "portfolio department" for a large timeshare developer, and part of my job was to sell the developer's Notes Receivable with their securing mortgages to various lenders, and each lender had its own servicing company. In my experience, most loan servicing companies do a decent job, but one in particular was horrible and should be called an "un-servicing company". I got frequent complaints from frustrated buyers about the same things I've read about in this site, and I constantly struggled, to no avail, with the idiots who worked at the unservicing company to do their jobs right, especially getting loans set up quickly and payment coupon books sent out in time for the buyers to send their first payments on time. And I was on a first name basis with the idiots and was supposed to have some clout! Even their top managers were buffoons. Any individual buyers who tried to get help from them got stonewalled, which is why they came to me.
After my experience on a professional level with that unservicing company, and then reading the complaints against ASC here, I'm concerned about my own loan, to say the least. I am hesitant to send them any money, but I have no choice. I can only hope that ASC sells my Note and Mortgage to yet another company as quickly as BNC and Option One sold them (this is the 3rd mortgage company in four months!!).
I understand how "the mortgage game" works, and because of the very nature of it (what each transfer entails), there should be strict limits on the number of transfers allowed per year (no more than two), and companies like that Unservicing Company and ASC should be shut down and sanctioned. Consumers have no protection and little recourse when they get screwed.
J
Kailua-Kona, Hawaii
U.S.A.
On November 1st I went on line to try to get information on ASC and see if I could pay on line that day. ASC has no web page...what I found instead was this site. I got ASC's phone number from here and called them, but they were closed (time difference, 6 hours). I got a recording saying "the mailbox for extension 3904 is full and you cannot leave a message", so I tried the switchboard extension...also a recording, also not able to leave a message. I tried to call Option One and to reach them on line to get information on ASC, but they don't recognize my loan number anymore and would not give me any information.
I called ASC back during business hours on November 3rd and 4th...more recordings. November 5th came (today), and still no payment coupon or even information from ASC, and still more recordings when I call. From this site I've gleened that I probably can pay over the phone, if I can ever get through to a person. I hate paying by phone, but at least my bank will have a record of the payment date so ASC can't say they didn't receive it when paid.
After what I've read here, I'm very concerned about my payments being posted on time to the right account, irresponsible credit reporting, and the real potential for my property taxes and insurance to not be paid by ASC.
I used to run the "portfolio department" for a large timeshare developer, and part of my job was to sell the developer's Notes Receivable with their securing mortgages to various lenders, and each lender had its own servicing company. In my experience, most loan servicing companies do a decent job, but one in particular was horrible and should be called an "un-servicing company". I got frequent complaints from frustrated buyers about the same things I've read about in this site, and I constantly struggled, to no avail, with the idiots who worked at the unservicing company to do their jobs right, especially getting loans set up quickly and payment coupon books sent out in time for the buyers to send their first payments on time. And I was on a first name basis with the idiots and was supposed to have some clout! Even their top managers were buffoons. Any individual buyers who tried to get help from them got stonewalled, which is why they came to me.
After my experience on a professional level with that unservicing company, and then reading the complaints against ASC here, I'm concerned about my own loan, to say the least. I am hesitant to send them any money, but I have no choice. I can only hope that ASC sells my Note and Mortgage to yet another company as quickly as BNC and Option One sold them (this is the 3rd mortgage company in four months!!).
I understand how "the mortgage game" works, and because of the very nature of it (what each transfer entails), there should be strict limits on the number of transfers allowed per year (no more than two), and companies like that Unservicing Company and ASC should be shut down and sanctioned. Consumers have no protection and little recourse when they get screwed.
J
Kailua-Kona, Hawaii
U.S.A.
This report was posted on Ripoff Report on 11/05/2004 09:10 PM and is a permanent record located here: http://www.ripoffreport.com/r/Americas-Servicing-Company/Frederick-Maryland-21703/Americas-Servicing-Company-ripoff-irresponsible-and-unreachable-I-fear-for-the-future-of-116406. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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If you are looking for the ASC website... www.mortgageaccountonline.com or https://ascccn.fnfismd.com/asc/ccn/ccnsecurity.asp
If you have a current mortgage with ASC, you can create an account signon and then view your account, make payments, etc.. like most other mortgage firms.
I have not had any of the reported problems with ASC, although I agree the communications when my mortgage transferred to them were next to nothing until I reached out to them (like many others in this thread).
If you have a current mortgage with ASC, you can create an account signon and then view your account, make payments, etc.. like most other mortgage firms.
I have not had any of the reported problems with ASC, although I agree the communications when my mortgage transferred to them were next to nothing until I reached out to them (like many others in this thread).
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What's this? #2 Consumer Comment
Another day, another victim
AUTHOR: Julian - (U.S.A.)
SUBMITTED: Tuesday, May 22, 2007
I too have been fighting ASC for the past year. I've been making regular payments using Citibank online, most clear at ASC, then they fraudulently state that the payments either a) arrived late (they never do), b) didn't arrive or c) arrived and were lost. This has resulted in multiple bad credit reports. The first phase I managed to clear up after hours of phone calls and letters, now, for the past 4 months, they've been at it again.
So, what to do? I've contacted Wells Fargo for advice, since this is where my main mortgage is. I've contacted an attorney to act on my behalf. I'm contacting the President of ASC.
And i'd love anyone else's perspective. Anything to stop the constant harrassing phone calls, the bad credit reports and the hours of wasted time
So, what to do? I've contacted Wells Fargo for advice, since this is where my main mortgage is. I've contacted an attorney to act on my behalf. I'm contacting the President of ASC.
And i'd love anyone else's perspective. Anything to stop the constant harrassing phone calls, the bad credit reports and the hours of wasted time
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What's this? #3 Consumer Comment
ASC Bad? Perhaps. Not horrible.
AUTHOR: Ken - (U.S.A.)
SUBMITTED: Monday, April 09, 2007
I've had ASC servicing my mortgage for the past 2 years. I had some financial issues and the house was in foreclosure. ASC didn't set a sale date on the house for almost a year. I can't see how they are "stealing" your house if you don't make the payments or follow through up on your statements.
In my situation I decided to file ch13 and pay off the arrears. American Servicing Company has been pretty good to us.
They don't just kick you out of the house, they let you know the entire process on a trustee sale. You have PLENTY of time to fix things up, file bankruptcy or short sale. Be diligent, it is not the job of the mortgage servicer to handhold you. Know your options!! Consumers do have quite a bit of protection.
In my situation I decided to file ch13 and pay off the arrears. American Servicing Company has been pretty good to us.
They don't just kick you out of the house, they let you know the entire process on a trustee sale. You have PLENTY of time to fix things up, file bankruptcy or short sale. Be diligent, it is not the job of the mortgage servicer to handhold you. Know your options!! Consumers do have quite a bit of protection.
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What's this?
I was transferred to ASC a year or so ago. I didn't have any problems until I decided to refinance and go with a different company, Chase. The entire time I had the loan I never had a problem. All of my payments were posted on time and my credit report showed the same. I am not am employee of ASC, I am just stating that I personally didn't have the nightmare some people are reporting.
The problem arose when I started to refinance. It took ASC over 3 weeks to get the payoff to the Mortgage Broker. That is the first payoff. My second mortgage took a month and a half. As most of us know when you are in the process of refinancing, you typucally don't make your mortgage payment. At least that's what I was told my my Broker.
After not making my payment, I received 3 registered letters from ASC saying I was in default and they were going to foreclose. After missing one payment! All this time I was in contact with ASC informing them of my situation and the Customer Service Reps I spoke to said it would be fine. It was not fine, they were threatening foreclosure. After I refinanced everything worked out alright.
Lastly, when I was in the proces of refinancing, I had found out that they paid my taxes from the previous year and raised my payment $400 a month. I was not past due on last years taxes, and I was not escrowing either. They took it upon themselves to pay the taxes without prior authorization. Then they cahrge me interest on it. I do not believe ASC is a company that is scamming people, I just think they have poor management and practices.
The problem arose when I started to refinance. It took ASC over 3 weeks to get the payoff to the Mortgage Broker. That is the first payoff. My second mortgage took a month and a half. As most of us know when you are in the process of refinancing, you typucally don't make your mortgage payment. At least that's what I was told my my Broker.
After not making my payment, I received 3 registered letters from ASC saying I was in default and they were going to foreclose. After missing one payment! All this time I was in contact with ASC informing them of my situation and the Customer Service Reps I spoke to said it would be fine. It was not fine, they were threatening foreclosure. After I refinanced everything worked out alright.
Lastly, when I was in the proces of refinancing, I had found out that they paid my taxes from the previous year and raised my payment $400 a month. I was not past due on last years taxes, and I was not escrowing either. They took it upon themselves to pay the taxes without prior authorization. Then they cahrge me interest on it. I do not believe ASC is a company that is scamming people, I just think they have poor management and practices.
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What's this? #5 Consumer Comment
Smith Family - ASC Took our Home even when we had a Sale contract pending
AUTHOR: Janna - (U.S.A.)
SUBMITTED: Wednesday, February 21, 2007
I also reported ASC on this site. We had our home for 6 years and when Chase sold to American Servicing company the problems began. ASC made our lives so difficult that we put our home up for sale and needed 1 month extention to close on the contract.
ASC did not respond after serveral attempts by our lawyer. ASC took our home and kicked our family out. Our equity and all the work we put into our home was gone. We faxed the contract to ASC, mailed etc but they still took our home.
My 3 girls and my husband had no home. This has got to be stopped. Our lives have been flipped upside down and like all these letters I have read THEY DO STEEL AND SELL HOMES NO MATTER WHAT! The kicker is they still have our credit completely messed up.
They show our loan still open for the full amout even after they sold our home through forclosure. We will probebly never own a home again because of this. ASC wont even report correct information on our credit report. They said it was our problem.
Please if anyone has a loan with American Servicing Company you need to get out. They will take your home eventually. We had a sale contract on ours and they still took our home.
ASC did not respond after serveral attempts by our lawyer. ASC took our home and kicked our family out. Our equity and all the work we put into our home was gone. We faxed the contract to ASC, mailed etc but they still took our home.
My 3 girls and my husband had no home. This has got to be stopped. Our lives have been flipped upside down and like all these letters I have read THEY DO STEEL AND SELL HOMES NO MATTER WHAT! The kicker is they still have our credit completely messed up.
They show our loan still open for the full amout even after they sold our home through forclosure. We will probebly never own a home again because of this. ASC wont even report correct information on our credit report. They said it was our problem.
Please if anyone has a loan with American Servicing Company you need to get out. They will take your home eventually. We had a sale contract on ours and they still took our home.
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What's this? #6 Consumer Comment
No problems at all
AUTHOR: Vincent - (U.S.A.)
SUBMITTED: Saturday, January 27, 2007
I know every case is different, in mine like everyone else my mortgage was sold to ASC a year or so ago. I have had cash flow problems the last three or for months and I'm currently about a month behind on my payment. I do get phone calls but I have only had polite and respectful people to deal with and I am far from a fan of Wells Fargo, but like I said I'm a month behind but have been making the payment a couple days before the next is due. If I was not making the payment I would expect to recieve more phone calls but at this point I'm not seeing what some here are talking about even being a month behind. I think it is a given that if you don't pay payments on something you bought with credit the company is eventually going to take it back, with a home loan THE LAST thing the bank wants to do is forclose, it effects there rating making it harder for them to obtain the money to loan.
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What's this?
My loan was being serviced by America Servicing, we sold the property end of June 2006. While it was in close we did not make the payment. It took extra time to close so (2)two payments were not made. I received threatening phone calls, foreclosure calls, etc. I made several calls to America's Servicing to assure them that this property was going to close and they continued to threaten me. The Property did close.
I have excellent credit. I just went to get some credit and they told me I had serious blemishes on my report. I told them it was not true. I ran my credit and ASC reported me 60-90 days late and my credit score has dropped by 100 points. I have called them but they now want a letter written. We will see what happens next.
Demolady
Port St Lucie, FL
I have excellent credit. I just went to get some credit and they told me I had serious blemishes on my report. I told them it was not true. I ran my credit and ASC reported me 60-90 days late and my credit score has dropped by 100 points. I have called them but they now want a letter written. We will see what happens next.
Demolady
Port St Lucie, FL
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What's this? #8 Consumer Comment
My nightmare with America's Servicing Company
AUTHOR: Yitzchok - (U.S.A.)
SUBMITTED: Sunday, December 10, 2006
For months I have been trying to straighten out my escrow account with them, they have placed their own insurance on my property, they claimed I never provided to them that I have insurance, I did fax them over several times the copy of my insurance policy, they canceled their policy and requested from their insurance company for a refund.
I kept on demanding that they should straightened out the escrow account with me, they told me they will only be able to do that after they received the refund.
After a month of them receiving the refund I asked why was the escrow account not readjusted, they told me I have to wait, meanwhile they keep on applying all my payments in the escrow account, they reported to the credit bureaus that I did not make payments from September, which I had always been making payments no later than the 15 of the month.
There is basically no one to talk to in that company, they know they have everybody in control; they are the ones who are able to report to the credit bureaus.
I cannot understand after so many people complaining and eating themselves up alive that there is no one who really cares, why did none of the government agencies investigate this and stop them, why are they still able to report to the credit bureaus, the reason they keep on doing this, because they could get away with this.
I did seek advice and I was told to stop with the nonsense of complaining to any government agency, they are just full of it, instead of that to file a lawsuit against the company.
Now that everybody knows that ASC is Wells Fargo home mortgage, it makes things easier, because Wells Fargo is located in every state, so you just file the lawsuit in your closest state where they are located.
Believe me Wells Fargo will not like to show up every second day in court defending themselves with nonsense. To file a complaint in small claims court is very simple and very cheap.
Additional to that is going after the company who closes the loan originally; they showed all know if they will deal with America's servicing company, they will end up in court, simple as that.
I kept on demanding that they should straightened out the escrow account with me, they told me they will only be able to do that after they received the refund.
After a month of them receiving the refund I asked why was the escrow account not readjusted, they told me I have to wait, meanwhile they keep on applying all my payments in the escrow account, they reported to the credit bureaus that I did not make payments from September, which I had always been making payments no later than the 15 of the month.
There is basically no one to talk to in that company, they know they have everybody in control; they are the ones who are able to report to the credit bureaus.
I cannot understand after so many people complaining and eating themselves up alive that there is no one who really cares, why did none of the government agencies investigate this and stop them, why are they still able to report to the credit bureaus, the reason they keep on doing this, because they could get away with this.
I did seek advice and I was told to stop with the nonsense of complaining to any government agency, they are just full of it, instead of that to file a lawsuit against the company.
Now that everybody knows that ASC is Wells Fargo home mortgage, it makes things easier, because Wells Fargo is located in every state, so you just file the lawsuit in your closest state where they are located.
Believe me Wells Fargo will not like to show up every second day in court defending themselves with nonsense. To file a complaint in small claims court is very simple and very cheap.
Additional to that is going after the company who closes the loan originally; they showed all know if they will deal with America's servicing company, they will end up in court, simple as that.
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What's this? #9 Consumer Comment
why is ASC so mysterious?
AUTHOR: Ken - (U.S.A.)
SUBMITTED: Thursday, October 05, 2006
Folks,
I've been dealing with ASC for past 3 years. They have not bothered much. My biggest complaint is that they don't have any website from which you can access your account pay online,etc. I have requested them over the phone MANY times in past few years and keep getting the same answer...
"oh yes, we will have it ready for our customers by the end of this year. "
I can't find any information about ASC from any official site. Why are they so secretive? Who are these guys? My loan was transferred few years ago w/ them, but I still don't have any information about this company. I hope I have been doing business with legitimate company.
Tip:
As for the payment nightmare that people have spoken about, I guess I've been lucky. MBNA credit card (Fidelity offers it) provides FREE bill pay service called Bill Pay Choice (http://www.mbna.com/billpaychoice/index.html). ASC is one of their members. So, I am able to pay my mortgate ONLINE every month through bill pay without ANY trouble so far. I've been using the service for last year or 2. You can also do online payment thorugh your bank. I have done this as well. Thought this may help people w/ problems paying mortgage to ASC.
Keep ASC honest by raising issues!!
I've been dealing with ASC for past 3 years. They have not bothered much. My biggest complaint is that they don't have any website from which you can access your account pay online,etc. I have requested them over the phone MANY times in past few years and keep getting the same answer...
"oh yes, we will have it ready for our customers by the end of this year. "
I can't find any information about ASC from any official site. Why are they so secretive? Who are these guys? My loan was transferred few years ago w/ them, but I still don't have any information about this company. I hope I have been doing business with legitimate company.
Tip:
As for the payment nightmare that people have spoken about, I guess I've been lucky. MBNA credit card (Fidelity offers it) provides FREE bill pay service called Bill Pay Choice (http://www.mbna.com/billpaychoice/index.html). ASC is one of their members. So, I am able to pay my mortgate ONLINE every month through bill pay without ANY trouble so far. I've been using the service for last year or 2. You can also do online payment thorugh your bank. I have done this as well. Thought this may help people w/ problems paying mortgage to ASC.
Keep ASC honest by raising issues!!
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What's this? #10 Consumer Comment
ASC-Lets get them in court?
AUTHOR: Steve - (U.S.A.)
SUBMITTED: Monday, September 18, 2006
Loan servicing complaints:
Section 6 provides borrowers with important consumer protections relating to the servicing of their loans. Under Section 6 of RESPA, borrowers who have a problem with the servicing of their loan (including escrow account questions), should contact their loan servicer in writing, outlining the nature of their complaint. The servicer must acknowledge the complaint in writing within 20 business days of receipt of the complaint. Within 60 business days the servicer must resolve the complaint by correcting the account or giving a statement of the reasons for its position. Until the complaint is resolved, borrowers should continue to make the servicer's required payment.
A borrower may bring a private law suit, or a group of borrowers may bring a class action suit, within three years, against a servicer who fails to comply with Section 6's provisions. Borrowers may obtain actual damages, as well as additional damages if there is a pattern of noncompliance.
I always mail my payment in early, just icase it takes a while to get there. It is due by the 5th of each month, but some people at ASC say that I have until the 10th, and some say the 15th without getting dinged with a late fee. Well I paid my August payment, and already sent in my Septmeber payment, and today in the mail I get a letter saying that I am past due two months August and September, and I owe a 62$ late fee, and they want Octobers payment right now also. I am going to call them and tell them to go fly a kite. I will send it in on time,and keep proof of it.
I have used the auto payment righ tout of my checking account, but it still takes them two weeks to withdrawl the money. I wish I could refinance, but I am afraid that the new mortage company will sell the loan to ASC again!!
Section 6 provides borrowers with important consumer protections relating to the servicing of their loans. Under Section 6 of RESPA, borrowers who have a problem with the servicing of their loan (including escrow account questions), should contact their loan servicer in writing, outlining the nature of their complaint. The servicer must acknowledge the complaint in writing within 20 business days of receipt of the complaint. Within 60 business days the servicer must resolve the complaint by correcting the account or giving a statement of the reasons for its position. Until the complaint is resolved, borrowers should continue to make the servicer's required payment.
A borrower may bring a private law suit, or a group of borrowers may bring a class action suit, within three years, against a servicer who fails to comply with Section 6's provisions. Borrowers may obtain actual damages, as well as additional damages if there is a pattern of noncompliance.
I always mail my payment in early, just icase it takes a while to get there. It is due by the 5th of each month, but some people at ASC say that I have until the 10th, and some say the 15th without getting dinged with a late fee. Well I paid my August payment, and already sent in my Septmeber payment, and today in the mail I get a letter saying that I am past due two months August and September, and I owe a 62$ late fee, and they want Octobers payment right now also. I am going to call them and tell them to go fly a kite. I will send it in on time,and keep proof of it.
I have used the auto payment righ tout of my checking account, but it still takes them two weeks to withdrawl the money. I wish I could refinance, but I am afraid that the new mortage company will sell the loan to ASC again!!
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What's this?
My mortgage has been sold 4 times in as many months. I literally have a board to keep track of who has it when.
In mid-late August my previos mortgage company notified me the loan was being sold. Not a real news flash...
To America's Servicing Company. It ge=ave me the addresses but no loan number.
I called America's Servicing and was told it was too new to call back for a loan number. I said the payment was due the first of Sept and I didn't want to be late. "Well, just send us a check with your address and it will get credited to your new account" "BUT I DON"T WANT TO BE LATE" Dan't worry says she...you have 60 days as per RESPA.
Already I am nervous. I call early Sept to acquire the loan number and she gives it to me. I promptly pay them directly from my checking account with auto pay.
On the 7th I get "official notice" from them that they are my new servicer and by the way you payment is due the 1st of each month and our records show you are now 30 days past due!!!!!!
I promptly call them Opps..sorry no record of your August payment. Well...maybe it's because I sent it to the last guys.
Her response was and I quote "prove it"
So I had my Bank contact them, the previous servicer sent them a letter and a check and copied me as well.
Today...I get a letter from ASC saying that they are checking into it...but it may take 60 days...isn't that interesting...when thier 60 days expires my RESPA 60 days will be ancient history.....I am VERY NERVOUS!!!!!!!!
In mid-late August my previos mortgage company notified me the loan was being sold. Not a real news flash...
To America's Servicing Company. It ge=ave me the addresses but no loan number.
I called America's Servicing and was told it was too new to call back for a loan number. I said the payment was due the first of Sept and I didn't want to be late. "Well, just send us a check with your address and it will get credited to your new account" "BUT I DON"T WANT TO BE LATE" Dan't worry says she...you have 60 days as per RESPA.
Already I am nervous. I call early Sept to acquire the loan number and she gives it to me. I promptly pay them directly from my checking account with auto pay.
On the 7th I get "official notice" from them that they are my new servicer and by the way you payment is due the 1st of each month and our records show you are now 30 days past due!!!!!!
I promptly call them Opps..sorry no record of your August payment. Well...maybe it's because I sent it to the last guys.
Her response was and I quote "prove it"
So I had my Bank contact them, the previous servicer sent them a letter and a check and copied me as well.
Today...I get a letter from ASC saying that they are checking into it...but it may take 60 days...isn't that interesting...when thier 60 days expires my RESPA 60 days will be ancient history.....I am VERY NERVOUS!!!!!!!!
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What's this? #12 Consumer Comment
No problem with ASC
AUTHOR: Carol - (U.S.A.)
SUBMITTED: Saturday, September 02, 2006
My mortgage was sold to ASC a year ago & I've had no problem with them. My balance is what it should be, my taxes have been paid on time & my homeowners insurance is up to date.
With what I've read tonight, I can only pray I keep getting a decent service from them. Payments are sent to Box 37297 in Baltimore MD & correspondence is Box 10328 in DeMoines IA. I agree an interactive website would be nice, but not all companies are computer savvy, or living in the 21st century.
With what I've read tonight, I can only pray I keep getting a decent service from them. Payments are sent to Box 37297 in Baltimore MD & correspondence is Box 10328 in DeMoines IA. I agree an interactive website would be nice, but not all companies are computer savvy, or living in the 21st century.
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What's this? #13 Consumer Suggestion
Use your bank's bill pay system. ASC apparently knows enough not to game a large corporation
AUTHOR: Amy - (U.S.A.)
SUBMITTED: Wednesday, June 28, 2006
My mortgage was sold to America's Servicing about nine months ago. I had a bad feeling about them immediately because they had no web address. What legit company doesn't have a web site these days? When I called customer service they explained that they were new and would have one up shortly.
Eventually they did but unlike my previous lender there is no way to access your account, see if a payment has been posted or get information on the status of your loan.
Unlike a lot of people who've posted on this site, I didn't have trouble with my payments not being posted. I assume it's because I have set up an automatic bill pay system with my bank, and they pay ASC. Perhaps ASC has figured out that it's a lot easier to mess with individual customers then large banks, when it comes to fraudulent business practices. I'm sure my bank wouldn't put up with that for a minute and would possibly complain to the SEC.
Go to your bank's website and check to see if it has some sort of bill pay system. In the entire time I had my loan with ASC, there were never any problems with payments being posted late.
If your bank doesn't offer an automatic bill pay system, you might want to consider opening an account with one that does. Try the biggies.
ASC apparently knows enough not to play games with large corporations. One may as well take advantage of that.
Eventually they did but unlike my previous lender there is no way to access your account, see if a payment has been posted or get information on the status of your loan.
Unlike a lot of people who've posted on this site, I didn't have trouble with my payments not being posted. I assume it's because I have set up an automatic bill pay system with my bank, and they pay ASC. Perhaps ASC has figured out that it's a lot easier to mess with individual customers then large banks, when it comes to fraudulent business practices. I'm sure my bank wouldn't put up with that for a minute and would possibly complain to the SEC.
Go to your bank's website and check to see if it has some sort of bill pay system. In the entire time I had my loan with ASC, there were never any problems with payments being posted late.
If your bank doesn't offer an automatic bill pay system, you might want to consider opening an account with one that does. Try the biggies.
ASC apparently knows enough not to play games with large corporations. One may as well take advantage of that.
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What's this? #14 Consumer Comment
Just sold Loan...so far good
AUTHOR: Kel - (U.S.A.)
SUBMITTED: Wednesday, May 31, 2006
As the writer above, I got my transfer of loan letter and typed on google and was taken here. I called my current company begging them to revert the sale in vain and the CS rep just told me, "If they were not reputable we would not send your loan to them".
I called on the number in the letter and to my SHAME, someone answered so well and I was able to get my loan account number and info on where to send, even though the transfer takes effect in two days from now. I say to my shame because I had already formed an opinion that my house is headed for doom. I am expecting a "welcome package" by the end of next week as she told me.
After reading all this thread, I am sorry at what some of us have been through; my opinion is that there might have been a problem with the company some times back but I guess they are coming back on track or rather I hope so.
Wishing Well, NJ
I called on the number in the letter and to my SHAME, someone answered so well and I was able to get my loan account number and info on where to send, even though the transfer takes effect in two days from now. I say to my shame because I had already formed an opinion that my house is headed for doom. I am expecting a "welcome package" by the end of next week as she told me.
After reading all this thread, I am sorry at what some of us have been through; my opinion is that there might have been a problem with the company some times back but I guess they are coming back on track or rather I hope so.
Wishing Well, NJ
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What's this?
I was transferred to America's Servicing Company several months ago. It's not the first time my loan has been transferred, so I am familiar with the process. It is not uncommon for loans to be sold to other mortgage companies, so I am quite aware of this practice.
Since my loan was sold, I did the usual "check it out" on the internet, and, like most other posters here, was quite concerned. I followed up on the transfer, and called the company, and reached a very friendly and helpful representative at ASC. I was given my new loan information, and was told where I could send my next payment, and the payment due date.
Since I had already paid my mortgage payment to my former mortgage company, I was told that it would be transferred to ASC, and not to worry.
I followed up a couple of days later, and low and behold, my payment had been transferred, and applied as expected.
So far, I have had absolutely no problems with ASC, and when I call, customer service is always helpful and friendly.
My personal feeling is that ASC has gotten a bad rap on this site.
Don't get me wrong - I can appreciate the other people's comments, but personally, I have had no problems.
I always pay my payment well in advance, using my internet banking service, and the payments are ALWAYS posted on the day that I have requested.
I really hope that the people that have had problems with ASC can get them resolved, but truly, I don't see anything wrong or suspicious about ASC.
Best regards,
Since my loan was sold, I did the usual "check it out" on the internet, and, like most other posters here, was quite concerned. I followed up on the transfer, and called the company, and reached a very friendly and helpful representative at ASC. I was given my new loan information, and was told where I could send my next payment, and the payment due date.
Since I had already paid my mortgage payment to my former mortgage company, I was told that it would be transferred to ASC, and not to worry.
I followed up a couple of days later, and low and behold, my payment had been transferred, and applied as expected.
So far, I have had absolutely no problems with ASC, and when I call, customer service is always helpful and friendly.
My personal feeling is that ASC has gotten a bad rap on this site.
Don't get me wrong - I can appreciate the other people's comments, but personally, I have had no problems.
I always pay my payment well in advance, using my internet banking service, and the payments are ALWAYS posted on the day that I have requested.
I really hope that the people that have had problems with ASC can get them resolved, but truly, I don't see anything wrong or suspicious about ASC.
Best regards,
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What's this? #16 Consumer Comment
Good Experience with ASC
AUTHOR: K - (U.S.A.)
SUBMITTED: Thursday, February 23, 2006
Like everyone else who's posted his/her comments, my loan was sold to America's Servicing Company. Like the woman who said she jumped the gun because of the comments she read on this site, I had trepidations. However, my experience has not been like those here. My payments were posted in a timely fashion. I do not receive a coupon book, but I receive monthly statements with remittance slips. The only time I was concerned about a payment was during the transfer period. I mailed my payment to ASC as directed by the former mortgage company. When I wondered why my payment did not clear my bank, I contacted ASC. ASC explained to me about the file not being complete, but ASC did receive my payment. ASC provided my loan number. For the past year it has been smooth sailing.
The only thing I dislike is the lack of a [consumer-friendly] website and online account access and online payment capability.
The only thing I dislike is the lack of a [consumer-friendly] website and online account access and online payment capability.
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What's this? #17 Consumer Comment
We have had good dealings with ASC
AUTHOR: L. - (U.S.A.)
SUBMITTED: Wednesday, February 22, 2006
Only because we found these reports and have dealt with them in a responsible manner. We opened a checking account just for this company and to have our mortgage paid. They have every month for almost a year now taken our mortgage payment out on the 1st of every month and we have not incured one service charge or late charge. If you are already not behind on payments or have had problems with your payments being processed on time this might also be a good way for you to go.
We had one month where a paycheck deposit was a day late and we had NSF for the payment. We did incure a $25 fee from our financial institution but nothing from ASC. They re-submitted a couple of days later and all went through just fine. They will submit up to 3 times prior to the grace period ending. (the 16th of the month) If you are apprehensive about dealing with them- this might be a good way for you to go.
We had one month where a paycheck deposit was a day late and we had NSF for the payment. We did incure a $25 fee from our financial institution but nothing from ASC. They re-submitted a couple of days later and all went through just fine. They will submit up to 3 times prior to the grace period ending. (the 16th of the month) If you are apprehensive about dealing with them- this might be a good way for you to go.
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What's this? #18 Consumer Comment
This thread made me jump the gun ...
AUTHOR: Chas - (U.S.A.)
SUBMITTED: Wednesday, February 22, 2006
I found out yesterday my loan was also sold to ASC from GMAC. First payment is due March 1st but, payment for March was already sent to GMAC. I have never heard of this company before so, a Google search brought me here. At first, needless to say I was pissed off. I don't have a sub-prime loan or any type of "exotic" loan. I have a standard 30 year fixed with a FICO score hovering around the 800 mark. I am pretty much stuck dealing with whoever has my primary loan because I cannot refi it for 3 years or I have to pay 6 months worth of interest - I have close to 2 years to go before this is dropped.
After seeing this, I called GMAC immediately and of course they told me that "selling" my loan had nothing to do with me personally or my account with them. I just ended up in a "pool" of loans to be sold off and my March payment will be transfered to ASC. Then, I expressed concern of ASC given the info. i read here. GMAC had no comment about it. Of course, I called the number to ASC and a very "general" afterhours we are closed message. A very worried and sleepless night.
Well, this morning the first thing I did is called ASC. I expected a horrid experience given the comments here. I called them approx 9:30am PST. A representative answered the phone immediately. I told her that my loan was sold and payment was due 3/1 but, that payment was sent to GMAC already. She confirmed that GMAC will transfer that payment. She also stated that since the "effective" date is not until 3/1, my file is not fully completed but, they already have my ASC loan number which she provided me. She also mentioned I should receive a "Welcome Packet" by mid-March. Then, I expressed my concerns on what I read on the web. Of course, the reply was all companies have issues. I asked them about processing payments late and she stated they process payments as soon as they receive them. She also stated the "Welcome Packet" will also include information on auto draft payments. Call me lucky but, the representative I spoke with was very professional.
Knowing they are part of Wells Fargo, I figure the best way to curb any problems is to set up an auto draft payment. My second loan is actually with Wells Fargo directly and I have yet to have any problems. I have payments pulled automatically for that loan from a personal account where I have direct deposit from my employer. So, I figure the best thing do is to set up a separate checking account at which both my home loans (Wells Fargo and now ASC) will be put on auto draft pay since the service is free. Each month, I will deposit funds into that account making sure my personal accounts are separate from this one as well as assuring payments are applied in a timely manner.
But, overall, after calling them I do feel a bit at ease. As in the title, I think I jumped the gun and possibly gave myself unnecessary stress. I guess only time will tell after I really start doing actual transactions with them.
I am sure many here have legitimate issues. But, thinking clearly, web results pretty much show the same dozen or so people expressing their problems and outrage with ASC. I am sure they are servicing millions of loans. Of course, I do not like the fact they don't have 24 hour customer service but, my conversation today with them was not a bad at all.
My letter from GMAC was dated 2/13/06. I recieved it on 2/21/06. I recommend if you get a letter that your loan is sold, do not wait and make payment to the new company (in this case ASC). Make payment to your current company (in this case GMAC). The current company by law has to transfer the payment over to the new company. This will give you an extra month to make changes such as set up auto draft and allow you to make sure everything is correct with the new company such as ASC. As of now, I know if by March 10th I do not receive a "Welcome Packet" I will be on the phone asking questions. When time for me to send my April payment to them, I will assure everything is correct (including impound account info). If not correct (which right now I doubt will happen), I still may send payment to GMAC since legally you can do so for up to 60 days after effective transfer date. In my letter from GMAC:
"During the 60-day period follwoing the effective date of the transfer of the account servicing, a loan payment received by your old servicer before its due date may not be treated by the new account servicer as late and a late fee may not be imposed on you .... Section 6 of RESPA (12 U.S.C. 2605) gives you certain consumer rights..."
Good luck people.
Hopeful in Southern California
After seeing this, I called GMAC immediately and of course they told me that "selling" my loan had nothing to do with me personally or my account with them. I just ended up in a "pool" of loans to be sold off and my March payment will be transfered to ASC. Then, I expressed concern of ASC given the info. i read here. GMAC had no comment about it. Of course, I called the number to ASC and a very "general" afterhours we are closed message. A very worried and sleepless night.
Well, this morning the first thing I did is called ASC. I expected a horrid experience given the comments here. I called them approx 9:30am PST. A representative answered the phone immediately. I told her that my loan was sold and payment was due 3/1 but, that payment was sent to GMAC already. She confirmed that GMAC will transfer that payment. She also stated that since the "effective" date is not until 3/1, my file is not fully completed but, they already have my ASC loan number which she provided me. She also mentioned I should receive a "Welcome Packet" by mid-March. Then, I expressed my concerns on what I read on the web. Of course, the reply was all companies have issues. I asked them about processing payments late and she stated they process payments as soon as they receive them. She also stated the "Welcome Packet" will also include information on auto draft payments. Call me lucky but, the representative I spoke with was very professional.
Knowing they are part of Wells Fargo, I figure the best way to curb any problems is to set up an auto draft payment. My second loan is actually with Wells Fargo directly and I have yet to have any problems. I have payments pulled automatically for that loan from a personal account where I have direct deposit from my employer. So, I figure the best thing do is to set up a separate checking account at which both my home loans (Wells Fargo and now ASC) will be put on auto draft pay since the service is free. Each month, I will deposit funds into that account making sure my personal accounts are separate from this one as well as assuring payments are applied in a timely manner.
But, overall, after calling them I do feel a bit at ease. As in the title, I think I jumped the gun and possibly gave myself unnecessary stress. I guess only time will tell after I really start doing actual transactions with them.
I am sure many here have legitimate issues. But, thinking clearly, web results pretty much show the same dozen or so people expressing their problems and outrage with ASC. I am sure they are servicing millions of loans. Of course, I do not like the fact they don't have 24 hour customer service but, my conversation today with them was not a bad at all.
My letter from GMAC was dated 2/13/06. I recieved it on 2/21/06. I recommend if you get a letter that your loan is sold, do not wait and make payment to the new company (in this case ASC). Make payment to your current company (in this case GMAC). The current company by law has to transfer the payment over to the new company. This will give you an extra month to make changes such as set up auto draft and allow you to make sure everything is correct with the new company such as ASC. As of now, I know if by March 10th I do not receive a "Welcome Packet" I will be on the phone asking questions. When time for me to send my April payment to them, I will assure everything is correct (including impound account info). If not correct (which right now I doubt will happen), I still may send payment to GMAC since legally you can do so for up to 60 days after effective transfer date. In my letter from GMAC:
"During the 60-day period follwoing the effective date of the transfer of the account servicing, a loan payment received by your old servicer before its due date may not be treated by the new account servicer as late and a late fee may not be imposed on you .... Section 6 of RESPA (12 U.S.C. 2605) gives you certain consumer rights..."
Good luck people.
Hopeful in Southern California
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What's this? #19 Consumer Comment
New "customer; loan recently sold to ASC
AUTHOR: Undisclosed - (U.S.A.)
SUBMITTED: Thursday, February 16, 2006
Good Evening!
We are new customers of ASC since our loan was sold by IMPAC/Countrywide. First payment due was February1, 2006.
It was to be sent to Des Moines, IA to a PO Box.
I mailed the payment 1/26/06 from CA. Our check posted on 2/13/06! HSBC is the new servicer of our 2nd and the payment was made at the same time (if not a couple of days later) and that check cleared on the 3rd! It WAS sent to a CA address. AND by the way, why is my servicer payment address in Iowa and others are in Los Angeles? I am somewhat scared of this company but will give the benefit of the doubt (this once) since the payment I sent had no new loan number (have yet to receive that information from them) but I will try them tomorrow since thay phoned me today (the 16th) requesting a call back (why???) The call was recorded at 3:50 PST. I returned home at 3:58 and tried to call only to be notified by voicemail that their office hours are until 6PM EST meaning that the call was made at 6:50 PM EST listed as a "private caller" on my caller id (again, why? Other banks show their institutions name). My escrow account is incorrect and the slip I sent clearly specified a certain amount for escrow and it was not applied. ( I used the old servicer's payment stub as instructed)
I can only imagine there to be trouble if they are calling after their business hours and not during their normal hours. I hope there are no problems...we have insurance and proof, we have our original loan docs...we are just lacking faith in the company. I will try the website stated above by the employee.
Things are not starting off very well...this is the 3rd time our loan has been sold since 10/2005 and no other company has had an issue posting the payments with in a reasonable time.
There will be no hesitation to pursue legal assistance if this is not corrected by my next payment.
I appreciate the good, bad and ugly postings and pray I am one of the lucky ones.
Concerned in CA.
We are new customers of ASC since our loan was sold by IMPAC/Countrywide. First payment due was February1, 2006.
It was to be sent to Des Moines, IA to a PO Box.
I mailed the payment 1/26/06 from CA. Our check posted on 2/13/06! HSBC is the new servicer of our 2nd and the payment was made at the same time (if not a couple of days later) and that check cleared on the 3rd! It WAS sent to a CA address. AND by the way, why is my servicer payment address in Iowa and others are in Los Angeles? I am somewhat scared of this company but will give the benefit of the doubt (this once) since the payment I sent had no new loan number (have yet to receive that information from them) but I will try them tomorrow since thay phoned me today (the 16th) requesting a call back (why???) The call was recorded at 3:50 PST. I returned home at 3:58 and tried to call only to be notified by voicemail that their office hours are until 6PM EST meaning that the call was made at 6:50 PM EST listed as a "private caller" on my caller id (again, why? Other banks show their institutions name). My escrow account is incorrect and the slip I sent clearly specified a certain amount for escrow and it was not applied. ( I used the old servicer's payment stub as instructed)
I can only imagine there to be trouble if they are calling after their business hours and not during their normal hours. I hope there are no problems...we have insurance and proof, we have our original loan docs...we are just lacking faith in the company. I will try the website stated above by the employee.
Things are not starting off very well...this is the 3rd time our loan has been sold since 10/2005 and no other company has had an issue posting the payments with in a reasonable time.
There will be no hesitation to pursue legal assistance if this is not corrected by my next payment.
I appreciate the good, bad and ugly postings and pray I am one of the lucky ones.
Concerned in CA.
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What's this? #20 Consumer Comment
I just got transferred "sold" to ASC as well
AUTHOR: Nose - (U.S.A.)
SUBMITTED: Thursday, January 26, 2006
I mailed my first payment to ASC and went to check my bank statement on-line and I see that the money was deducted on 1/18/06. I mailed the payment well before this date but noticed that all of the other checks I have written have a link with the check number where I can view the copy of the check. The funny thing is that next to the deducted payment for the ASC mortgage payment it has no highlighted link meaning I can't view the check. I wonder why this is also it says the following:
01/18/2006 MORTGAGE PAYMENT ARC 2044 $1,718.40
I says ARC and not ASC. Any suggestions? Also I haven't gotten any coupon book or anything I simply received a letter on 1/1/06 from my previous mortgage company making me aware of the sold/transferred loan that had taken effect 1/3/06. So I mailed my payment to the new company ASC right away, I guess that is why it got posted so late.
Concerned -- Hyattsville, MD
01/18/2006 MORTGAGE PAYMENT ARC 2044 $1,718.40
I says ARC and not ASC. Any suggestions? Also I haven't gotten any coupon book or anything I simply received a letter on 1/1/06 from my previous mortgage company making me aware of the sold/transferred loan that had taken effect 1/3/06. So I mailed my payment to the new company ASC right away, I guess that is why it got posted so late.
Concerned -- Hyattsville, MD
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What's this? #21 Consumer Comment
I just got transferred "sold" to ASC as well
AUTHOR: Nose - (U.S.A.)
SUBMITTED: Thursday, January 26, 2006
I mailed my first payment to ASC and went to check my bank statement on-line and I see that the money was deducted on 1/18/06. I mailed the payment well before this date but noticed that all of the other checks I have written have a link with the check number where I can view the copy of the check. The funny thing is that next to the deducted payment for the ASC mortgage payment it has no highlighted link meaning I can't view the check. I wonder why this is also it says the following:
01/18/2006 MORTGAGE PAYMENT ARC 2044 $1,718.40
I says ARC and not ASC. Any suggestions? Also I haven't gotten any coupon book or anything I simply received a letter on 1/1/06 from my previous mortgage company making me aware of the sold/transferred loan that had taken effect 1/3/06. So I mailed my payment to the new company ASC right away, I guess that is why it got posted so late.
Concerned -- Hyattsville, MD
01/18/2006 MORTGAGE PAYMENT ARC 2044 $1,718.40
I says ARC and not ASC. Any suggestions? Also I haven't gotten any coupon book or anything I simply received a letter on 1/1/06 from my previous mortgage company making me aware of the sold/transferred loan that had taken effect 1/3/06. So I mailed my payment to the new company ASC right away, I guess that is why it got posted so late.
Concerned -- Hyattsville, MD
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What's this? #22 Consumer Comment
OH no! No matter when I mail them they get processed around the 15th.
AUTHOR: Tamera - (U.S.A.)
SUBMITTED: Wednesday, January 04, 2006
I thought I was the only one troubled with "late" payments. No matter when I mail them they get processed around the 15th. Also they didn't receive a payment - odd it was never returned to me by the USPS. So at the end of October I came home to find a huge package of FORECLOSURE paper work. I called them spent an hour and a half on the phone and set up a "repayment" agreement. I am 3 payments into this. Here are my problems
*They won't/don't send me statements anymore. I have no idea where my money is going or if it is going.
*They didn't send me any information regarding what the fees were and what was actually owed.
*I was told if the payment doesn't post on the first of the month I VOID my agreement and the forecloser starts again. The only way to get the payment there is to use there $20 dollar phone pay.
*I called and set up the automatic phone pays (you can pay one schedule 6). I called last week and asked about a statement and was told I should of gotten one with all my scheduled payments on it. I didn't and imangine this they can't print and send another one.
*I tried to set up autodraft payment Dec 05 but they screwed it up by not telling me it was active. Yeah auto drafted and tried to cash my check 3 times after they said it would only try to clear 2 times. They did pay all my bounce check fees. (OH and according to my bank when I stopped the autodraft to prevent it from happening in Feb ASC changed the dollar amount and tried to post it again.)
*It took them almost an entire month to get the agreement to me and managed to call me EVERY FREAKING DAY to harass me. When I asked them to stop and told them that the other office said they weren't suppose to be calling due to the repayment agreement they yelled at me.
OMG! I am scared.
*They won't/don't send me statements anymore. I have no idea where my money is going or if it is going.
*They didn't send me any information regarding what the fees were and what was actually owed.
*I was told if the payment doesn't post on the first of the month I VOID my agreement and the forecloser starts again. The only way to get the payment there is to use there $20 dollar phone pay.
*I called and set up the automatic phone pays (you can pay one schedule 6). I called last week and asked about a statement and was told I should of gotten one with all my scheduled payments on it. I didn't and imangine this they can't print and send another one.
*I tried to set up autodraft payment Dec 05 but they screwed it up by not telling me it was active. Yeah auto drafted and tried to cash my check 3 times after they said it would only try to clear 2 times. They did pay all my bounce check fees. (OH and according to my bank when I stopped the autodraft to prevent it from happening in Feb ASC changed the dollar amount and tried to post it again.)
*It took them almost an entire month to get the agreement to me and managed to call me EVERY FREAKING DAY to harass me. When I asked them to stop and told them that the other office said they weren't suppose to be calling due to the repayment agreement they yelled at me.
OMG! I am scared.
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What's this? #23 Consumer Suggestion
ASC - good luck!
AUTHOR: Joe - (U.S.A.)
SUBMITTED: Thursday, October 13, 2005
Just my own opinion, working as a lender myself for someone different...ASC is horrid. Go try to get a payoff quote...I dare you. They simply won't do that.
In trying to refinance customers away from them, they do absolutely everything in their power to keep it from happening and will not give a payoff quote, even if requested in writing from the customer or title company.
My only suggestion is when refinancing away from them, estimate what you owe and pay more...then they have to at least give it back by law if you overpaid once it's paid off. Do everything by return receipt requested mail (no signature or they will just have it returned to you)...and if you have to show up at their office and sit there until you get what you want, do that.
Don't be afraid to get your congressman involved...they have field reps to help with those sorts of things...I know.
In trying to refinance customers away from them, they do absolutely everything in their power to keep it from happening and will not give a payoff quote, even if requested in writing from the customer or title company.
My only suggestion is when refinancing away from them, estimate what you owe and pay more...then they have to at least give it back by law if you overpaid once it's paid off. Do everything by return receipt requested mail (no signature or they will just have it returned to you)...and if you have to show up at their office and sit there until you get what you want, do that.
Don't be afraid to get your congressman involved...they have field reps to help with those sorts of things...I know.
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What's this? #24 Consumer Comment
This is amazing, another victim!
AUTHOR: Jeffrey - (U.S.A.)
SUBMITTED: Thursday, October 06, 2005
My mother and I have had 2 years worth of problems with ASC. They seem to do everything they can to mess up your loan then blame the client. What amazes me is that when her loan was transferred they told me that they didn't have anything to do with Wells Fargo because Wells Fargo was the one that had the paperwork stating that I was authorized to discuss information on her account. That set us back a few months cause the payment information they had was incorrect when it was transferred. I'm responsible for my mothers property including her checking accounts and mortgage while she is trying to step her retirement home out of the country. She has faxed them the correct paperwork 3 time and every few months the claim they don't have me listed on the account so I can't check on payments or anything. This cause us a lot of headaches including have to file bankruptcy because they kept messing up payment information.
Now I'm purchasing the house from my mother they are holding up the process by making us wait for an updated payoff information. After reading many of these posts I've noticed that they have done many of the same things to us. Late charges, checks clearing weeks after being mailed. I'm going to file every report and complaint I can against this company. How can they get way with this for so long?
Now I'm purchasing the house from my mother they are holding up the process by making us wait for an updated payoff information. After reading many of these posts I've noticed that they have done many of the same things to us. Late charges, checks clearing weeks after being mailed. I'm going to file every report and complaint I can against this company. How can they get way with this for so long?
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What's this? #25 Consumer Comment
America's servicing company
AUTHOR: Karen - (U.S.A.)
SUBMITTED: Tuesday, September 20, 2005
I too am a very unhappy asc customer. they tried the same thing with me about the agreement and breaking it. Refusing western union payments cause the name was wrong.. why couldn't they go by the account number. that's what is there for. they tried to foreclose on me, by saying they sent me a notice certified mail, but yet could not produce a signed return receipt. imaagine that! now when i send a payment in, i sent with it a standard form stating this payment is to be applied to xxx for the month of xxx. plain simple 4th grade english. it's called the KISS method( keep it simple stupid)....I too am refinancing to get out from under these stupid people....
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What's this? #26 Consumer Comment
Familiar with ASC! This company is absolutely terrible and a division of Wells Fargo!
AUTHOR: R - (U.S.A.)
SUBMITTED: Friday, September 16, 2005
I am quite familiar with ASC and also servicing in general. This company is absolutely terrible and a division of Wells Fargo!
There are very few Servicing shops in the US and these guys are as dangerous as Select Servicing Portfolio/SPS (Formerly known as Fairbanks Capital Corp.)They do everything they can to shield their practices,employees,policies (or lack thereof!) and customner service as they possibly can.
Before filing for Bankruptcy a few months ago, they were haunting me and my wife like falcons! Be aware they also tend to utilize PREDATORY ATTORNEYS in each state, when dealing with issues and delinquencies.
Such as Lundberg & Associates in Salt lake City, Utah.
***Proceed with caution in dealing with these guys.*** Their Loss Mitigation Dept. is also highly un-educated and will NEVER respond to you, EVER!
Also know that in servicing, the Loss Mitigation a Rep. earns money/commission in doing short term payment arrangements! So they want it done fast and easy or they get impatient.
Do not wait any responses addressed to their LOSS MITIGATION dept. at any time, you will NOT receive a decent reply.
They will stretch time and string you along until they forward any case to their predatory attorneys.
There are very few Servicing shops in the US and these guys are as dangerous as Select Servicing Portfolio/SPS (Formerly known as Fairbanks Capital Corp.)They do everything they can to shield their practices,employees,policies (or lack thereof!) and customner service as they possibly can.
Before filing for Bankruptcy a few months ago, they were haunting me and my wife like falcons! Be aware they also tend to utilize PREDATORY ATTORNEYS in each state, when dealing with issues and delinquencies.
Such as Lundberg & Associates in Salt lake City, Utah.
***Proceed with caution in dealing with these guys.*** Their Loss Mitigation Dept. is also highly un-educated and will NEVER respond to you, EVER!
Also know that in servicing, the Loss Mitigation a Rep. earns money/commission in doing short term payment arrangements! So they want it done fast and easy or they get impatient.
Do not wait any responses addressed to their LOSS MITIGATION dept. at any time, you will NOT receive a decent reply.
They will stretch time and string you along until they forward any case to their predatory attorneys.
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What's this? #27 Consumer Comment
ASC's Website, Contact #'s, and Ownership
AUTHOR: Mykal - (U.S.A.)
SUBMITTED: Wednesday, August 10, 2005
Learn for yourself at their website: http://www.ascservicing.com/
Or, from their website in summary...
Contact Us:
"At this time ASC does not offer individual loan information on this website. If you are a customer, please contact our customer service department at 877-222-7875. If you are a client with questions regarding website access, please contact Denise Dofflemyer at 301-696-7930."
Finally, in case you wondered:
Copyright Notice
Copyright 2004 Wells Fargo Home Mortgage, Inc.
d.b.a. America's Servicing Company.
Or, from their website in summary...
Contact Us:
"At this time ASC does not offer individual loan information on this website. If you are a customer, please contact our customer service department at 877-222-7875. If you are a client with questions regarding website access, please contact Denise Dofflemyer at 301-696-7930."
Finally, in case you wondered:
Copyright Notice
Copyright 2004 Wells Fargo Home Mortgage, Inc.
d.b.a. America's Servicing Company.
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What's this? #28 Consumer Comment
Can't Contact ASC
AUTHOR: Jennifer - (U.S.A.)
SUBMITTED: Monday, August 01, 2005
I noticed that many of you are able to contact ASC. What number are you using? B/c I've got 3 different ones and they all go to a "no one's available to take your call" and then it hangs up on me. I've never gotten anyone on the phone from there. I have overpaid $600 in escrow and I'm trying to get my money back from them or find out when I'm getting it back.
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What's this? #29 Consumer Suggestion
Forbearance Agreement Is A Fraud
AUTHOR: C - (U.S.A.)
SUBMITTED: Wednesday, July 27, 2005
What you have described is a forbearance agreement, and if you signed any additional paperwork with ASC. YOU ARE IN TROUBLE! You will pay for this later down the road. I'm quite sure that you think that everything is fine now. However, $40,000+ in penalties and fees, will incur before the year is out, and suddenly "you have not honored your forbearance agreement...therefore, we have no other choice but to proceed with foreclosure proceedings at this time." ....Just when you thought you were safe....
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What's this? #30 Consumer Comment
ASC bought my Wells Fargo mortgage and I am nothing but pleased...
AUTHOR: Robert - (U.S.A.)
SUBMITTED: Monday, July 25, 2005
Let me just say that, despite what I've read here, I became an unemployed software consultant for the last six months of 2003 and underemployed throughout 2004 (making 2/3 of my usual income). ASC worked with me and helped me keep my place, so I am VERY pleased with their customer service.
I am in no way affiliated with the company, but have to stand up and say they did right by me.
I really hopw that whatever the problem is, it can be resolved because I know that, despite having foreclosure proceedings started, I was able to work it out with them. And I'm one stubborn cookie...
I am in no way affiliated with the company, but have to stand up and say they did right by me.
I really hopw that whatever the problem is, it can be resolved because I know that, despite having foreclosure proceedings started, I was able to work it out with them. And I'm one stubborn cookie...
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What's this?
I've been here for nearly a year now and everyday I hear people cussing me out. (Yes,it's a daily basis) All I'm saying is, is that we don't want peoples homes. My entire job is based on helping people bring their loans current. Sure, things in the corporate world seem heartless, and they are in a way because they don't make exceptions. Heck, I served 5 years with the US Army as a Ranger and I delt with kinder people. But the fact remains that people need to take responsibility for what has happened.
If I owned a home, I would be calling my mortgage company every month making sure my payments got there. Alot of people think that as soon as they put that payment in the mail that it's no longer their problem. Sure, I was irritated when I wrote that especially after reading some of the previous posts. There are simple things that can be done to avoid any of these situations. Having a mortgage is serious business. it's your home and your childrens home if you have them. I don't wish ill will on anyone and this job actually frustrates me when all the options we have are exhausted and the only advice I can give someone is to sell their home.
I love the feeling I get when someone is so happy that they have an affordable payment plan that they are in tears. I've gotten letters, flowers, all kinds of things from borrowers who I really helped. I am sorry if people have had a bad experience with us.
There are people here I don't like. But if you call in to my department. Which is collections, and we are open from 8am to 11pm eastern standard time. Phone # 1-800-662-3806, Especially after 8pm eastern you wont get a nicer crew of people to handle your calls. Granted, some things can only be handled by customer service (8am - 6pm, 1-800-842-7654) But we will do whatever we can to get you situated.
We have certain routines that we have to follow, certain procedures, ect. We have a strict QA department that monitors our calls to ensure we aren't using foul language or telling people we will wreck their credit. Let me assure you, if someone used bad language on a phone call they wouldn't have a job by the close of business. If you call in and need help with payments that are behind, I hope I get you because I can show you what true customer service is.
I've never raised my voice on a call, despite being called every name in the book. I sit there and I take it, and let the people vent. I understand it can be frustrating to be behind in your mortgage and unforseen events can occur. Life changing events. Divorce, Car accidents, lay offs, anything. But bad things happen to good people.
It's the way of the world unfortunatly. I really wish I could prevent everyone from going to forclosure, but sometimes it is so bad there is nothing we can do. I do apologize if my last post seemed a bit sharp, but alot of these posts just felt like a slap in the face after the time and compassion that I put into my job.
If I owned a home, I would be calling my mortgage company every month making sure my payments got there. Alot of people think that as soon as they put that payment in the mail that it's no longer their problem. Sure, I was irritated when I wrote that especially after reading some of the previous posts. There are simple things that can be done to avoid any of these situations. Having a mortgage is serious business. it's your home and your childrens home if you have them. I don't wish ill will on anyone and this job actually frustrates me when all the options we have are exhausted and the only advice I can give someone is to sell their home.
I love the feeling I get when someone is so happy that they have an affordable payment plan that they are in tears. I've gotten letters, flowers, all kinds of things from borrowers who I really helped. I am sorry if people have had a bad experience with us.
There are people here I don't like. But if you call in to my department. Which is collections, and we are open from 8am to 11pm eastern standard time. Phone # 1-800-662-3806, Especially after 8pm eastern you wont get a nicer crew of people to handle your calls. Granted, some things can only be handled by customer service (8am - 6pm, 1-800-842-7654) But we will do whatever we can to get you situated.
We have certain routines that we have to follow, certain procedures, ect. We have a strict QA department that monitors our calls to ensure we aren't using foul language or telling people we will wreck their credit. Let me assure you, if someone used bad language on a phone call they wouldn't have a job by the close of business. If you call in and need help with payments that are behind, I hope I get you because I can show you what true customer service is.
I've never raised my voice on a call, despite being called every name in the book. I sit there and I take it, and let the people vent. I understand it can be frustrating to be behind in your mortgage and unforseen events can occur. Life changing events. Divorce, Car accidents, lay offs, anything. But bad things happen to good people.
It's the way of the world unfortunatly. I really wish I could prevent everyone from going to forclosure, but sometimes it is so bad there is nothing we can do. I do apologize if my last post seemed a bit sharp, but alot of these posts just felt like a slap in the face after the time and compassion that I put into my job.
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What's this? #32 Consumer Comment
So glad to be away from you
AUTHOR: D. - (U.S.A.)
SUBMITTED: Wednesday, May 11, 2005
Nice frickin' attitude. I am sooooooooooo glad to be away from your company! What a headache! I'm very much looking forward to dealing with a professional, competent company again.
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What's this? #33 UPDATE Employee
Here Comes the Clue Train
AUTHOR: Joseph - (U.S.A.)
SUBMITTED: Wednesday, May 11, 2005
Alright. I'm an employee of ASC. Just a regular grunt on the phones. I take over 100+ calls a day and I can safely say that 90% of them hang up the phone satisfied. Let me clue you all in on something. We are -not-. I repeat. NOT associated w/ fairbanks. Anyone with half a brain in their head can come to that conclusion with a slightest bit of research. Also, on forclosures. We don't like to foreclose on houses. We don't make jack from it. We service loans and not just sub-prime either. They come from all walks. We service over 1 million loans. Now, out of the few folks on here who have had a bad run, I'm sorry you had a bad experience, be it from a lazy rep or what. But like someone posted earlier. Want to avoid this nonsense? Pay your bills. Loans come due on the 1st of the month. We don't put a late fee on until the 15th. I have a car, payment also due on the first. Know what I do? Mail my payment on the 25th of the previous month. Have I ever gotten a late charge? Nope. A collection call? Nope. And as far as collection calls go? We are pretty mild if you ask me. If you call in directly to collections, yes you will hear about us trying to collect a debt. Thats because when you sign the final documents on that 350k and up house, SURPRISE! your in debt. That is there because we are a 3rd party. We HAVE to state that. I don't like to do it, but hey, my paycheck depends on it so I can pay my bills. Any issue that you have with us can be fixed. Credit reportings not your fault? Easily fixed. And I mean -really- not your fault. Not mailing your payment on the 10th and expecting it not to be hit with a late fee. Come on people, its called fiscal responsibility. I've had a few callers tell me about this site and I had to see for myself. Wanna know why there aren't any class action suits or major law suits against ASC? Because the complaints are invalid. It's not like we go through some evil training course to learn how to rip you off. Get a grip. Pay your bills and stop cussing out the people who answer the phones. We are there to help you set up a plan to bring your loan current. So what if you have to put up with a quick sentence telling you that ultimatly we want the money thats owed to us. Heres the last stop on the clue train. If you havent made a payment in 6 months and a sherrif knocks on your door telling you to pack your things, its your own fault. Mortgages must be taken seriously. These are your homes. You should be dedicating all the time you have to ensure you keep it. A handful of complaints to a few hundred thousand happy customers. Man...those are pretty decent odds. Stop thinking that everyone is out to get you and that ASC is some dreadful Evil Empire. We don't want your house! It costs more money to foreclose than you think. Profits are seldom made. Oh, I keep hearing about how people think we aren't helping them. One more clue, free of charge. If your income is in the negative because your expenses are too high, what can we do? Honestly. You get yourself into these mortgages and if you think "Wow...thats really expensive..I might not be able to afford it." Then DONT SIGN THE CLOSING DOCS. It will save both you AND me a headache after I hear you screaming through my headset. Good Day.
Grunt of the Evil Empire
Grunt of the Evil Empire
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What's this? #34 REBUTTAL Individual responds
One and the same company just changed names
AUTHOR: Eileen - (U.S.A.)
SUBMITTED: Tuesday, April 26, 2005
Americas Servicing Company and Fairbanks Capital Corporation are one in the same.
We were part of a class action suit that won us a wopping $700 plus from them and we were notified that Fairbanks had changed their name but not their tactics.
we recouped that pittince after trying for years to accomidate them we could have bought our home 3 times over with all the money we sent them trying to save our home and in the end they took it anyway. To all out their if your home gets tied up with them don't even think you will save it. Sell it right away and save what you can.
We had even tryed to re-mortage it had the loans approved and everything but they refused to accept any repayment of any kind even though our orginal contract wich they were going by, said we could pay off early with no penalitys.
They sold off our home with that contract stating our payments were only $400 when they took it to court yet were demanding payments over $800 when they sent us our bills.
Well our home is gone sold they got their money and low and behold after the class action suit and over a year and a half later they were trying to collect again even though we had proof of not oweing them anything.
Sell and get out from under their thumb. Do Not send them another cent.
We and others who have tried to appease them have paid them over $100,000.00 to save our homes and they still took it.
God Bless and Good luck from Illinois, USA
We were part of a class action suit that won us a wopping $700 plus from them and we were notified that Fairbanks had changed their name but not their tactics.
we recouped that pittince after trying for years to accomidate them we could have bought our home 3 times over with all the money we sent them trying to save our home and in the end they took it anyway. To all out their if your home gets tied up with them don't even think you will save it. Sell it right away and save what you can.
We had even tryed to re-mortage it had the loans approved and everything but they refused to accept any repayment of any kind even though our orginal contract wich they were going by, said we could pay off early with no penalitys.
They sold off our home with that contract stating our payments were only $400 when they took it to court yet were demanding payments over $800 when they sent us our bills.
Well our home is gone sold they got their money and low and behold after the class action suit and over a year and a half later they were trying to collect again even though we had proof of not oweing them anything.
Sell and get out from under their thumb. Do Not send them another cent.
We and others who have tried to appease them have paid them over $100,000.00 to save our homes and they still took it.
God Bless and Good luck from Illinois, USA
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What's this? #35 Consumer Suggestion
Tips for dealing with mortgage companies
AUTHOR: Alan - (U.S.A.)
SUBMITTED: Thursday, April 07, 2005
For those of you having problems I have the following
TIPS AND SUGGESTIONS:
1) KNOW YOUR OBLIGATIONS. Your mortgage note will spell out your obligations. Read it carefully. Loan Servicers do not arbitrarily raise your payments. They are fixed by the terms of your contract. Your mortgage note can likely be bought and sold (assigned) on the secondary market and the rights transfer to the new holders of the note. If you don't make your payments, yes they will foreclose. Also there is often a pre-payment penalty spelled out in the note or a rider to the note. Read your contract carefully.
2) KNOW YOUR RIGHTS under federal law in regards to posting payments, insurance, fees, disputes, and credit reporting. Please see these documents published by the FTC.
Mortgage Servicing: Making Sure Your Payments Count
http://www.ftc.gov/bcp/conline/pubs/homes/mortgserv.pdf
Fair Debt Collection:
http://www.ftc.gov/bcp/conline/pubs/credit/fdc.pdf
How to Dispute Credit Report Errors
http://www.ftc.gov/bcp/conline/pubs/credit/crdtdis.pdf
3)KEEP GOOD RECORDS, especially of your payments (bank statements, cancelled checks, etc.). If you have a dispute you will need to be able to document everything clearly.
4)PUT IT IN WRITING. For simple problems a phone call might work. Please remember that the person you are talking to is probably a decent human being stuck in a low paying job. Also they may be seeing the problem for the first time when you call and have to figure it out from brief notes in their computer system. However, for most problems you NEED to put your dispute in writing and send it by fax or mail. For the most serious problems send it by certified mail. Why: 1) federal law requires that the company respond within 60 days; 2) you are more likely to get someone who will do some research to respond and not a clueless customer service rep; and 3) you have proof if the issue ever goes to court.
5)SEE AN ATTORNEY. If you still can't solve the problem, see an attorney. You may or may not have a valid case. An attorney should be able to tell you. But people do sue and win.
Please remember there are millions of loans in this country that are serviced without any problem! Problems do arise, especially in the subprime segment of the market, however, if you keep good records and communicate in writing you should be able to resolve most issues.
TIPS AND SUGGESTIONS:
1) KNOW YOUR OBLIGATIONS. Your mortgage note will spell out your obligations. Read it carefully. Loan Servicers do not arbitrarily raise your payments. They are fixed by the terms of your contract. Your mortgage note can likely be bought and sold (assigned) on the secondary market and the rights transfer to the new holders of the note. If you don't make your payments, yes they will foreclose. Also there is often a pre-payment penalty spelled out in the note or a rider to the note. Read your contract carefully.
2) KNOW YOUR RIGHTS under federal law in regards to posting payments, insurance, fees, disputes, and credit reporting. Please see these documents published by the FTC.
Mortgage Servicing: Making Sure Your Payments Count
http://www.ftc.gov/bcp/conline/pubs/homes/mortgserv.pdf
Fair Debt Collection:
http://www.ftc.gov/bcp/conline/pubs/credit/fdc.pdf
How to Dispute Credit Report Errors
http://www.ftc.gov/bcp/conline/pubs/credit/crdtdis.pdf
3)KEEP GOOD RECORDS, especially of your payments (bank statements, cancelled checks, etc.). If you have a dispute you will need to be able to document everything clearly.
4)PUT IT IN WRITING. For simple problems a phone call might work. Please remember that the person you are talking to is probably a decent human being stuck in a low paying job. Also they may be seeing the problem for the first time when you call and have to figure it out from brief notes in their computer system. However, for most problems you NEED to put your dispute in writing and send it by fax or mail. For the most serious problems send it by certified mail. Why: 1) federal law requires that the company respond within 60 days; 2) you are more likely to get someone who will do some research to respond and not a clueless customer service rep; and 3) you have proof if the issue ever goes to court.
5)SEE AN ATTORNEY. If you still can't solve the problem, see an attorney. You may or may not have a valid case. An attorney should be able to tell you. But people do sue and win.
Please remember there are millions of loans in this country that are serviced without any problem! Problems do arise, especially in the subprime segment of the market, however, if you keep good records and communicate in writing you should be able to resolve most issues.
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What's this? #36 Consumer Comment
I have no love for companies like ASC, and others, who show a poor attitude toward their customers.
AUTHOR: Bob - (U.S.A.)
SUBMITTED: Tuesday, April 05, 2005
I have been in real estate lending for nearly twenty years. I have no love for companies like ASC, and others, who show a poor attitude toward their customers. And I know that they do, because I have been forced, by loan situations, to deal with them, directly, at times. However, I do have some things to say, about much of what I see here.
First, ASC, Fairbanks Capital, and the HUNDREDS of others, just like them, all deal in sub-prime mortgages. The VAST majority of their clients have significant, to severe, credit issues. The VAST majority of these people have credit issues because they lack a certain degree of responsibility, or have a poor attitude toward their credit profile. I want to tell all of your readers, the best way to get away from these types of companies is to pay your bills on time.
If you do not pay your bills on time, you cannot get a loan from a FNMA, or FHLMC lender (known as "A" Paper). This means that you have to ask someone else to loan you the money you WANT. And this is wherein the problem lies.
These loans are a WANT. They are a privelidge. They are given to people DESPITE the fact they do not conform to the rules.
Sub-prime mortgages fill a niche, which "A" Paper does not reach. These are higher risk loans, which means that it is a privlidge to be able to get them. There is a price, for all privlidge.
If you want to buy a house, with no money down, you can get a loan from a sub-prime lender. Putting nothing down is a privlidge. It comes with a price.
If you haven't paid your bills on time, because you insist on living above your means, but you want to get $25000 in cash, out of your home's equity, this is a privlidge.
If you cheat on your income taxes, to such a degree that you cannot qualify for an "A" paper loan, but you want to buy a house, with nothing down, or get $25000 worth of equity out, without having paid your bills on time, these are privlidges.
Here's a BIG secret, boys and girls. There is NO MINIMUM credit score, for "A" paper. If you pay your bills on time, FNMA, or FHLMC will give you a loan. Even if you can't prove your income.
So, the real issue is responsibility. If you ask Ameriquest to take a higher risk, by giving you a loan, despite your substandard credit history, you are asking for a favor. If they grant your request, and you show them a poor attitude, by dragging your feet,or refusing to comply with their requests/acquiesce to their demands, they are going to show you a poor attitude, too.
Paying your taxes, or your insurance, are NOT their responsibility!! It's the homeowner's responsibility. Just because you give them the money, doesn't absolve you of the responsibility to pay those obligations. And it doesn't mean they will pay the bill. All it does is create a fiduciary obligation, on their part, to do so. This means they have a legal obligation. If they don't, you can sue them. But, that is all you can do.
SOOOOOOO, if you don't trust them, to pay your bills on time, DON'T HAVE AN IMPOUND/ESCROW ACCOUNT!!!!
And, please, don't try to tell me your credit profile is not your fault.
Yes, sometimes an incompetant employee, or a ghost in the machine, will cause a creditor to report an account as late, when, in fact, it is not. But, considering the number of transactions, which occur EVERY DAY, the odds against this happening to one person, more than once every few years, is astronomical. However, even if you have the worst possible luck, and you get two derogatory reports, in error, every year, this should not, significantly, impact your credit score. Especially if you take a responsible attitude, make appropriate inquiry, and take the necessary steps to have these errors reversed/amended.
Although these things take A LOT of time to fix, the delay is not ENTIRELY the fault of the creditor. The credit bureaus (Trans Union, Experian, and Equifax) have a part in this, too. Refusing to continue to pay the creditor, or refusing to pay the creditor until they make the repair, is unreasonable, and only hurts the consumer.
And, every day, I have someone try to tell me that the MYRIAD derogatory reports, on their credit, are ALL reporting errors. I was born at night, but it wasn't last night.
When I read these "reports", I can, almost, tell you EXACTLY what happened. And I can tell you that, in nearly every case, the CONSUMER did not do enough, to insure that their account was administered properly.
Yes, things "fall through the cracks" when loans are transferred. But, if your payments were current, in the first place, this would not be such a problem. And, if you made your payment on the first, or second, rather than the fifteenth, or the twentieth, you would have fewer problems. Also, it helps if your checks always clear.
If someone, at ANY creditor, agrees to make some type of deal with you, which is NOT in line with the terms of your contract, as you understand it, ask them to send it to you, in writing. If they refuse, ask to speak to their supervisor.
There is no free lunch. Take responsibility. It will get you a lot further than whining, and trying to blame others.
My name is Bob. I am a partner in a small mortgage company, in Southern California. I will answer as many of your questions as I can. I am as expert, in credit issues, as a person can be, without having a law degree. Just post your questions below so everyone can benefit.
First, ASC, Fairbanks Capital, and the HUNDREDS of others, just like them, all deal in sub-prime mortgages. The VAST majority of their clients have significant, to severe, credit issues. The VAST majority of these people have credit issues because they lack a certain degree of responsibility, or have a poor attitude toward their credit profile. I want to tell all of your readers, the best way to get away from these types of companies is to pay your bills on time.
If you do not pay your bills on time, you cannot get a loan from a FNMA, or FHLMC lender (known as "A" Paper). This means that you have to ask someone else to loan you the money you WANT. And this is wherein the problem lies.
These loans are a WANT. They are a privelidge. They are given to people DESPITE the fact they do not conform to the rules.
Sub-prime mortgages fill a niche, which "A" Paper does not reach. These are higher risk loans, which means that it is a privlidge to be able to get them. There is a price, for all privlidge.
If you want to buy a house, with no money down, you can get a loan from a sub-prime lender. Putting nothing down is a privlidge. It comes with a price.
If you haven't paid your bills on time, because you insist on living above your means, but you want to get $25000 in cash, out of your home's equity, this is a privlidge.
If you cheat on your income taxes, to such a degree that you cannot qualify for an "A" paper loan, but you want to buy a house, with nothing down, or get $25000 worth of equity out, without having paid your bills on time, these are privlidges.
Here's a BIG secret, boys and girls. There is NO MINIMUM credit score, for "A" paper. If you pay your bills on time, FNMA, or FHLMC will give you a loan. Even if you can't prove your income.
So, the real issue is responsibility. If you ask Ameriquest to take a higher risk, by giving you a loan, despite your substandard credit history, you are asking for a favor. If they grant your request, and you show them a poor attitude, by dragging your feet,or refusing to comply with their requests/acquiesce to their demands, they are going to show you a poor attitude, too.
Paying your taxes, or your insurance, are NOT their responsibility!! It's the homeowner's responsibility. Just because you give them the money, doesn't absolve you of the responsibility to pay those obligations. And it doesn't mean they will pay the bill. All it does is create a fiduciary obligation, on their part, to do so. This means they have a legal obligation. If they don't, you can sue them. But, that is all you can do.
SOOOOOOO, if you don't trust them, to pay your bills on time, DON'T HAVE AN IMPOUND/ESCROW ACCOUNT!!!!
And, please, don't try to tell me your credit profile is not your fault.
Yes, sometimes an incompetant employee, or a ghost in the machine, will cause a creditor to report an account as late, when, in fact, it is not. But, considering the number of transactions, which occur EVERY DAY, the odds against this happening to one person, more than once every few years, is astronomical. However, even if you have the worst possible luck, and you get two derogatory reports, in error, every year, this should not, significantly, impact your credit score. Especially if you take a responsible attitude, make appropriate inquiry, and take the necessary steps to have these errors reversed/amended.
Although these things take A LOT of time to fix, the delay is not ENTIRELY the fault of the creditor. The credit bureaus (Trans Union, Experian, and Equifax) have a part in this, too. Refusing to continue to pay the creditor, or refusing to pay the creditor until they make the repair, is unreasonable, and only hurts the consumer.
And, every day, I have someone try to tell me that the MYRIAD derogatory reports, on their credit, are ALL reporting errors. I was born at night, but it wasn't last night.
When I read these "reports", I can, almost, tell you EXACTLY what happened. And I can tell you that, in nearly every case, the CONSUMER did not do enough, to insure that their account was administered properly.
Yes, things "fall through the cracks" when loans are transferred. But, if your payments were current, in the first place, this would not be such a problem. And, if you made your payment on the first, or second, rather than the fifteenth, or the twentieth, you would have fewer problems. Also, it helps if your checks always clear.
If someone, at ANY creditor, agrees to make some type of deal with you, which is NOT in line with the terms of your contract, as you understand it, ask them to send it to you, in writing. If they refuse, ask to speak to their supervisor.
There is no free lunch. Take responsibility. It will get you a lot further than whining, and trying to blame others.
My name is Bob. I am a partner in a small mortgage company, in Southern California. I will answer as many of your questions as I can. I am as expert, in credit issues, as a person can be, without having a law degree. Just post your questions below so everyone can benefit.
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What's this? #37 Consumer Suggestion
Online Bill Pay Most offer it for free
AUTHOR: Charlie - (U.S.A.)
SUBMITTED: Saturday, March 19, 2005
If you have a computer(which if you're reading this you do) and have a bank acct, use the services provided by that bank. Most every bank has online bill pay. Most offer it for free. I pay every bill online and never had a pymt go late. You cant mess w/ electronic money. Your back sends your pymts electronically. Never write a check or lick a stamp again. Try this and see if they can mess with your money.
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What's this? #38 Consumer Suggestion
Online Bill Pay Most offer it for free
AUTHOR: Charlie - (U.S.A.)
SUBMITTED: Saturday, March 19, 2005
If you have a computer(which if you're reading this you do) and have a bank acct, use the services provided by that bank. Most every bank has online bill pay. Most offer it for free. I pay every bill online and never had a pymt go late. You cant mess w/ electronic money. Your back sends your pymts electronically. Never write a check or lick a stamp again. Try this and see if they can mess with your money.
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What's this? #39 Consumer Suggestion
Online Bill Pay Most offer it for free
AUTHOR: Charlie - (U.S.A.)
SUBMITTED: Saturday, March 19, 2005
If you have a computer(which if you're reading this you do) and have a bank acct, use the services provided by that bank. Most every bank has online bill pay. Most offer it for free. I pay every bill online and never had a pymt go late. You cant mess w/ electronic money. Your back sends your pymts electronically. Never write a check or lick a stamp again. Try this and see if they can mess with your money.
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What's this? #40 Consumer Suggestion
Online Bill Pay Most offer it for free
AUTHOR: Charlie - (U.S.A.)
SUBMITTED: Saturday, March 19, 2005
If you have a computer(which if you're reading this you do) and have a bank acct, use the services provided by that bank. Most every bank has online bill pay. Most offer it for free. I pay every bill online and never had a pymt go late. You cant mess w/ electronic money. Your back sends your pymts electronically. Never write a check or lick a stamp again. Try this and see if they can mess with your money.
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What's this? #41 Consumer Suggestion
Ex employee clear your concious
AUTHOR: Pam - (U.S.A.)
SUBMITTED: Wednesday, March 16, 2005
Yes they need to go and tell all But it is still not going to help all of us that they helped to get there homes stolen.I dont see how any of them can live with thereself .My kids dont have a home.Thanks to all of the employees and EX employees of Fairbanks Capital.
Im sorry but I cant feel sorry for them.
Im sorry but I cant feel sorry for them.
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What's this?
Thank you for your input, we could really use some help from someone like you.
You can help by personally going to your local Office of the Attorney General and tell them you will spill the beans on everything you know and experienced while working for this company and ask that your name be kept confidential.
Any information you can provide that would give insight into what is going on at Wells Fargo and ASC about these situations not only would save a family residence, but it would also give you peace of mind.
You can help by personally going to your local Office of the Attorney General and tell them you will spill the beans on everything you know and experienced while working for this company and ask that your name be kept confidential.
Any information you can provide that would give insight into what is going on at Wells Fargo and ASC about these situations not only would save a family residence, but it would also give you peace of mind.
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What's this?
Thank you for your input, we could really use some help from someone like you.
You can help by personally going to your local Office of the Attorney General and tell them you will spill the beans on everything you know and experienced while working for this company and ask that your name be kept confidential.
Any information you can provide that would give insight into what is going on at Wells Fargo and ASC about these situations not only would save a family residence, but it would also give you peace of mind.
You can help by personally going to your local Office of the Attorney General and tell them you will spill the beans on everything you know and experienced while working for this company and ask that your name be kept confidential.
Any information you can provide that would give insight into what is going on at Wells Fargo and ASC about these situations not only would save a family residence, but it would also give you peace of mind.
Respond to this report!
What's this?
Thank you for your input, we could really use some help from someone like you.
You can help by personally going to your local Office of the Attorney General and tell them you will spill the beans on everything you know and experienced while working for this company and ask that your name be kept confidential.
Any information you can provide that would give insight into what is going on at Wells Fargo and ASC about these situations not only would save a family residence, but it would also give you peace of mind.
You can help by personally going to your local Office of the Attorney General and tell them you will spill the beans on everything you know and experienced while working for this company and ask that your name be kept confidential.
Any information you can provide that would give insight into what is going on at Wells Fargo and ASC about these situations not only would save a family residence, but it would also give you peace of mind.
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What's this? #45 UPDATE Employee
ASC I will say that this 'company' is owned by Wells Fargo
AUTHOR: Olivia - (U.S.A.)
SUBMITTED: Saturday, March 12, 2005
Hi, I am a current employee of America's Servicing Company. I feel for all of you who have had negative experiences w/us. I will say that this 'company' is owned by Wells Fargo. Our office in Frederick, MD is actually in the same building as WF! The number 1 thing I can't stand about working for this company is that we are now calling people on the 3rd of the mth. I understand that the due date may be on the 1st and you have until the 16th to avoid a late charge (that is for most acct.) The investors require that we call that early, but I don't think it's fair.. If anyone here has any questions or concerns about ASC, post them and I will write back.
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What's this? #46 Consumer Comment
Yes, they are crooks.
AUTHOR: Regina - (U.S.A.)
SUBMITTED: Saturday, February 26, 2005
I also have two mortgages services by ASC, sold to them by TBW. After sending in my first payment I went to the internet to look them up to see if I could track my loans online. This rip-off site is what I found. I got worried. I could not find a direct site for them. At that time I didn't even have a customer service number on my statements.
So, I went to my checking account to see if my checks had cleared. As you may know, they do direct debit. They do not deposit your checks, they debit your account directly. I always send both payments in the same envelope.
I started checking every month to see when my checks cleared. One month they deducted a late payment from my account on one of my loans, but not the other. Neither one of them was late. By this time I had a phone number and called them. They insisted they did not deduct a late charge, but they had and the next month's statement confirmed that they did. They even had the date of the late charge PRIOR to when a late charge is due to be assessed. I decided to let it go. I didn't want them screwing up my account and my credit over $15.00. My payments are always mailed between the 28th and the 5th of the month. On one of my accounts they call me any month the payment hasn't reached them by the 3rd. They do not call on the other one.
Also, I am a mortgage broker. I was refinancing a loan last month serviced by ASC. They had never recorded an assignment at the court house stating they owned the loan. The title company was asking for confirmation. They promised we would get it "tomorrow" every day for nearly 3 weeks. The borrower finally found her original letter stating it was sold to them. When we sent the payoff to them they called the title company and said it was $800 short. They said that they did not have evidence of insurance on the borrowers home, so they had to "force place" insurance on it. We had 24 hours to prove there was insurance and a date 9 months ago or send them the $800. If they didn't receive one or the other, they were going to return the payoff funds and declare the loan still active and a payment due. We were on the phone for nearly an hour with them. And of course, the insurance company that they obtained the insurance from was yet another subsidiary. We sent them the additional funds. The borrower just wanted them out of her life. They said they would "review the loan" and if an insurance refund was due, they would of course send it. Kiss that money good bye.
And yes....they are owned by Wells Fargo.
I just have a word of caution.... follow up on EVERY payment. They have me scared to death.
Florida
So, I went to my checking account to see if my checks had cleared. As you may know, they do direct debit. They do not deposit your checks, they debit your account directly. I always send both payments in the same envelope.
I started checking every month to see when my checks cleared. One month they deducted a late payment from my account on one of my loans, but not the other. Neither one of them was late. By this time I had a phone number and called them. They insisted they did not deduct a late charge, but they had and the next month's statement confirmed that they did. They even had the date of the late charge PRIOR to when a late charge is due to be assessed. I decided to let it go. I didn't want them screwing up my account and my credit over $15.00. My payments are always mailed between the 28th and the 5th of the month. On one of my accounts they call me any month the payment hasn't reached them by the 3rd. They do not call on the other one.
Also, I am a mortgage broker. I was refinancing a loan last month serviced by ASC. They had never recorded an assignment at the court house stating they owned the loan. The title company was asking for confirmation. They promised we would get it "tomorrow" every day for nearly 3 weeks. The borrower finally found her original letter stating it was sold to them. When we sent the payoff to them they called the title company and said it was $800 short. They said that they did not have evidence of insurance on the borrowers home, so they had to "force place" insurance on it. We had 24 hours to prove there was insurance and a date 9 months ago or send them the $800. If they didn't receive one or the other, they were going to return the payoff funds and declare the loan still active and a payment due. We were on the phone for nearly an hour with them. And of course, the insurance company that they obtained the insurance from was yet another subsidiary. We sent them the additional funds. The borrower just wanted them out of her life. They said they would "review the loan" and if an insurance refund was due, they would of course send it. Kiss that money good bye.
And yes....they are owned by Wells Fargo.
I just have a word of caution.... follow up on EVERY payment. They have me scared to death.
Florida
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What's this? #47 Consumer Suggestion
Send payment Registered & record at county
AUTHOR: Joe - (U.S.A.)
SUBMITTED: Tuesday, February 08, 2005
An ammendment to the previous post where someone said to send your payment registered, return receipt. DO NOT put signature required, or some bright person on the other end will just conveniently not be there to sign or refuse to sign. Just get the return receipt as proof of delivery.
Prior to that, photocopy your CERTIFIED CHECK and have that copy notorized, then take the whole mess, return rec't and all and have it recorded at the county clerk. They are banking on that you don't have your evidence substantiated and you will lose the battle of who believes who in court.
Believe me, if you have your P's & Q's all notirized and legally recorded, you can bet that they don't. That will end the who believes who's word when the judge recognizes your recorded docs and there heresay and lack of proof and unrecorded "notices" that they supposedly sent you. You will otherwise go in with bank docs and "Proof" of payments that the court won't accept....but recorded docs will take you a lot further.
What a pain in the rear...but if you put that ounce of prevention in, you will prevail. I work for a legit lender...and would be scared sh*tless if I ever ended up with ASC on my loan. I'd refi anywhere else...but check here first.
A few reports is one thing, but wow...there are some real doozies here.
Prior to that, photocopy your CERTIFIED CHECK and have that copy notorized, then take the whole mess, return rec't and all and have it recorded at the county clerk. They are banking on that you don't have your evidence substantiated and you will lose the battle of who believes who in court.
Believe me, if you have your P's & Q's all notirized and legally recorded, you can bet that they don't. That will end the who believes who's word when the judge recognizes your recorded docs and there heresay and lack of proof and unrecorded "notices" that they supposedly sent you. You will otherwise go in with bank docs and "Proof" of payments that the court won't accept....but recorded docs will take you a lot further.
What a pain in the rear...but if you put that ounce of prevention in, you will prevail. I work for a legit lender...and would be scared sh*tless if I ever ended up with ASC on my loan. I'd refi anywhere else...but check here first.
A few reports is one thing, but wow...there are some real doozies here.
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What's this?
Ok, here is my update as I promised. I sent my payment in and I just called ASC and they confirmed that my payment was applied. I'm relieved! From here on out I am going to just have my payment automatically deducted from my account. I will continue to stay on top of it however.
By the way, it got pretty quiet on this board. I hope things are going well with everyone.
Good Luck to all!
By the way, it got pretty quiet on this board. I hope things are going well with everyone.
Good Luck to all!
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What's this? #49 Consumer Comment
To Kaitlyn - Savannah, Georgia
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Sunday, January 30, 2005
Thank you for responding I will give you an update as soon as it gets transferred.
My bank doesn't give me a list of payees, I actually have to type in the address and company name. I'll give them a call and find out for sure.
By the way, I finally was able to find someone that has ASC, they stated that they have not had any problems with them and they have been with them for a few months, which was VERY nice to hear.
My bank doesn't give me a list of payees, I actually have to type in the address and company name. I'll give them a call and find out for sure.
By the way, I finally was able to find someone that has ASC, they stated that they have not had any problems with them and they have been with them for a few months, which was VERY nice to hear.
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What's this? #50 UPDATE Employee
NO WAY affiliated with Fairbanks! True we are a part of Wells Fargo and we service loans for different investors.
AUTHOR: Anthony - (U.S.A.)
SUBMITTED: Sunday, January 30, 2005
This is in regards to the post from pam stating that ASC is in fact fairbanks!!!!
First off,
we are in NO WAY affiliated with Fairbanks! True we are a part of Wells Fargo and we service loans for different investors. So before making statements i would do some research first. Oh, and by the way our hours are from 8am-6pm monday through friday for regular customer service and for all the people that say that they can not get ahold of us i can assure you that the 100+ calls i take a day show that you can get ahold of us.
First off,
we are in NO WAY affiliated with Fairbanks! True we are a part of Wells Fargo and we service loans for different investors. So before making statements i would do some research first. Oh, and by the way our hours are from 8am-6pm monday through friday for regular customer service and for all the people that say that they can not get ahold of us i can assure you that the 100+ calls i take a day show that you can get ahold of us.
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What's this? #51 Consumer Comment
Been there done that...
AUTHOR: M - (U.S.A.)
SUBMITTED: Sunday, January 30, 2005
I've been at this for a long time, been there, done that, got the t-shirt and the whole nine yards.
There have many cases compromised because people give out too much personal information that was used against them in court.
I'm just trying to find out as much case law as possible in order to help as many as I can while I help myself.
I'm cool with my own funds, I don't need legal aid, I can handle it on my own.. thanks for the suggestion, it was greatly appreciated.
They're a really good group of people trying to figure out a tough situation.
Everyone is feeling frustrated and angry that no one in power seems to care about mortgage servicing fraud.
I think the hardest part for anybody, is trying to figure out why it's so hard to get these companies investigated and prosecuted.
It's an awful shame that we can't talk one to one, I could fill you in on a lot of things I know would give you better insight on what you are trying to find out. It can't be done here, this is not the proper place to put it on the table. Sorry!
If I find more information that can be posted, I will gladly put it here.
Til then, take care!
There have many cases compromised because people give out too much personal information that was used against them in court.
I'm just trying to find out as much case law as possible in order to help as many as I can while I help myself.
I'm cool with my own funds, I don't need legal aid, I can handle it on my own.. thanks for the suggestion, it was greatly appreciated.
They're a really good group of people trying to figure out a tough situation.
Everyone is feeling frustrated and angry that no one in power seems to care about mortgage servicing fraud.
I think the hardest part for anybody, is trying to figure out why it's so hard to get these companies investigated and prosecuted.
It's an awful shame that we can't talk one to one, I could fill you in on a lot of things I know would give you better insight on what you are trying to find out. It can't be done here, this is not the proper place to put it on the table. Sorry!
If I find more information that can be posted, I will gladly put it here.
Til then, take care!
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What's this? #52 Consumer Comment
To Withheld in CA ...They have a bill-pay service that you can do pretty much everything on line.
AUTHOR: Kaitlyn - (U.S.A.)
SUBMITTED: Sunday, January 30, 2005
I set up the payment directly with my bank, SunTrust. They have a bill-pay service that you can do pretty much everything on line. They also have their own list of "payees" that you can select from, and ASC was one of them. That means SunTrust has established an "account" to directly send payments to them and for them to receive. I believe many banks these days have similar services for a very minimal fee, if not free. Maybe I'm just lazy but I use this service for pretty much everything - since I don't "forget" to send payments thanks to the bank's computer, pretty much all of my bills have been paid on time. I'm known to forget one or two in the past.
Anyway, I hope your loan transfer and payment go through without a hitch. And just like everyone else is saying, keep record of everything and re-verify on top of double-checking! Never completely trust the cyberspace - I don't.
I will be interested in how yours (and others) turns out - Maybe we can come up with a method that works for a lot of people this way. Keep me posted!
Anyway, I hope your loan transfer and payment go through without a hitch. And just like everyone else is saying, keep record of everything and re-verify on top of double-checking! Never completely trust the cyberspace - I don't.
I will be interested in how yours (and others) turns out - Maybe we can come up with a method that works for a lot of people this way. Keep me posted!
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What's this? #53 Consumer Comment
Words are powerful, be careful how you use them...
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Saturday, January 29, 2005
I'm unsure exactly what you mean by that....but from here on out I am just going to put all that to rest.
The reasons why I continue to post on this website is out of deep concern for those going through this and for my own future experiences with my mortgage.
I'm not sure if you have visited www.msfraud.org yet, but they may have some suggestions on how to obtain legal counsel for people that can't afford to hire an attorney. So check them out.
Best of luck
The reasons why I continue to post on this website is out of deep concern for those going through this and for my own future experiences with my mortgage.
I'm not sure if you have visited www.msfraud.org yet, but they may have some suggestions on how to obtain legal counsel for people that can't afford to hire an attorney. So check them out.
Best of luck
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What's this? #54 Consumer Comment
Words are powerful, be careful how you use them...
AUTHOR: M - (U.S.A.)
SUBMITTED: Saturday, January 29, 2005
The title is not a threat nor is it to be construed as a warning of any kind, it is a just a statement.
Please understand that words are powerful and this is a very-very sensitive issue you are dealing with. Families are loosing their homes and YES, people will question your motives especially when they read the posts that
appear to be in defense of the person or company that is doing them wrong.
Our personal battles with this particular company vary in nature. I can only respond by saying that too much personal information could expose the complaintants to other problems in the future with these companies and their perspective cases against them.
These boards and other web sites are being monitored by these companies and it has been stated that the information gleened from the various web sites were being used by one of these company's in court. The final result
was a decision against the consumers.
There are numerous petitions being signed and people meeting with their elected officials to bring mortgage servicing fraud to their attention. For some it's too late to save their homes, for others we hope and pray these posts will help them defend their homes and hard earned money from these kind of companies.
I know you fully understand how important it is
that everyone gets as much information as possible, so please don't take the responses to heart and feel you personally are being attacked.
While it's true the lady from HUD, didn't have to tell you about "the only one she knew of" however, the minimal information you provided,
leaves an impression you found information to the contrary to what was posted here at the RipOff Report.
HUD was right to tell you about the consumer laws that protect us, however they themselves don't follow through with their investigations thoroughly and prosecute when some of feel they should something.
Even though you wished this person well,and hoped that he/she was able to work it out; you stressed your take on what you perceived was a HUGE federal investigation and it sounded like you were discrediting the information. This may not have been your intention, but this was my take on your post.
No one is judging you, we are only stating our opinions just as you are. I am only responding to the information on the findings you posted.
Fairbanks IS the poster child when it comes to the abusive practices of SOME mortgage companies. The name Fairbanks is not the only name that will always be brought up when someone is having problems with their mortgage, other names will ve put out there as well.
Through your own research you will also come across a few other names being used to prove
their point because at the start no one wanted to believe that a company like Fairbanks was capable of doing what the people were complaining about.
Now that the case against Fairbanks has been concluded, people now have a name to use to further bolster their own case.
You can have all the receipts and all the letters from the start of your mortgate to
this very date to prove the payments were made, but this does not mean the company will make any corrections to your account. They can ignore your proof or they can investigate the situation and still choose to ignore the facts. This is the problem many of us are having with this company.
According to some of the posts here on the RipOff Report, ASC has refused to work with
them to find the problem. They have refused to correspond with their clients and have refused to cooperate with some of the entities who are trying to mediate on behalf of the complaintant.
HUD, the FTC and the Attorney General's have laws to follow and they also have the discretion as to whether there is enough evidence to do anything about it or not.
We don't often agree with the outcome that's why there are other avenues available for us to take. The RipOff Report is one of the avenues to get the information out to the general public and hopefully will motivate these people to check their accounts and report any problems they find to the proper authorities.
The Office of the Attorney General can only act as a mediator between you and the company and they will tell you this when you file a complaint with them. But they can only do this for so long before they have to move on to the next complaint.
The Investigator may say after several months of corresponding with this company, they have no power to compel this company to respond or cooperate with their investigation. You may be advised to find an attorney to intercede legally for you.
This can be very disheartening to someone who has a legitimate problem and no money to hire the kind of lawyer it takes to fight this kind of case.
There are no laws that cover mortgage servicing fraud and/or abuse and it seems that there are no protections for the consumer who is having a problem with these mortgage servicing companies.
Yes, we could hire an attorney but most of us can not affort the kind of attorney it would take to file a lawsuit of this nature at our own expense.
Most of our time, energy and money is being used trying to get an investigation instituted by the regulating entities of these companies. We are doing everything we possibly can to stop these companies from ruining peoples lives.
It has been said that a Class Action Lawsuit does not get you back everything you lost,
you only get a certain percentage of the award because of the number of complaints and this
is also disheartening because they expect the companies to stop their deceptive and destructive
practices, and this does not happen.
A lot of people are being advised to file their own lawsuit in hopes of a better settlement.
The sad truth is the consumer doesn't always get their chance to prove their side of the
situation in court.
I have read posts where the consumer was made to look like a deadbeat or a person of lesser value because of the way they handled their account, despite their proof to the contrary.
To answer your question about the transfer notice you received yesterday, NO I did not receive any correspondence what-so-ever from either company that a transfer was taking place.
Do you know about ACORN and their Class Action Suit against Wells Fargo? Their web site is www.acorn.org It makes for some interesting reading as well.
You are one of the lucky ones that have never had a problem with Wells Fargo. There are several RipOff Reports and complaints where people are having the same problems with Wells Fargo that we have with America's Servicing Company.
Keep doing your research and please don't take any of the responses as a personal attack on you, they are responses to the information you received and posted.
I would never wish anyone bad luck or hope someone would go through what I have experienced with these people because I know exactly what happens and it's not an experience I would want to repeat.
Good luck to you, I sincerely hope and pray that you NEVER have a problem with ASC.
Please understand that words are powerful and this is a very-very sensitive issue you are dealing with. Families are loosing their homes and YES, people will question your motives especially when they read the posts that
appear to be in defense of the person or company that is doing them wrong.
Our personal battles with this particular company vary in nature. I can only respond by saying that too much personal information could expose the complaintants to other problems in the future with these companies and their perspective cases against them.
These boards and other web sites are being monitored by these companies and it has been stated that the information gleened from the various web sites were being used by one of these company's in court. The final result
was a decision against the consumers.
There are numerous petitions being signed and people meeting with their elected officials to bring mortgage servicing fraud to their attention. For some it's too late to save their homes, for others we hope and pray these posts will help them defend their homes and hard earned money from these kind of companies.
I know you fully understand how important it is
that everyone gets as much information as possible, so please don't take the responses to heart and feel you personally are being attacked.
While it's true the lady from HUD, didn't have to tell you about "the only one she knew of" however, the minimal information you provided,
leaves an impression you found information to the contrary to what was posted here at the RipOff Report.
HUD was right to tell you about the consumer laws that protect us, however they themselves don't follow through with their investigations thoroughly and prosecute when some of feel they should something.
Even though you wished this person well,and hoped that he/she was able to work it out; you stressed your take on what you perceived was a HUGE federal investigation and it sounded like you were discrediting the information. This may not have been your intention, but this was my take on your post.
No one is judging you, we are only stating our opinions just as you are. I am only responding to the information on the findings you posted.
Fairbanks IS the poster child when it comes to the abusive practices of SOME mortgage companies. The name Fairbanks is not the only name that will always be brought up when someone is having problems with their mortgage, other names will ve put out there as well.
Through your own research you will also come across a few other names being used to prove
their point because at the start no one wanted to believe that a company like Fairbanks was capable of doing what the people were complaining about.
Now that the case against Fairbanks has been concluded, people now have a name to use to further bolster their own case.
You can have all the receipts and all the letters from the start of your mortgate to
this very date to prove the payments were made, but this does not mean the company will make any corrections to your account. They can ignore your proof or they can investigate the situation and still choose to ignore the facts. This is the problem many of us are having with this company.
According to some of the posts here on the RipOff Report, ASC has refused to work with
them to find the problem. They have refused to correspond with their clients and have refused to cooperate with some of the entities who are trying to mediate on behalf of the complaintant.
HUD, the FTC and the Attorney General's have laws to follow and they also have the discretion as to whether there is enough evidence to do anything about it or not.
We don't often agree with the outcome that's why there are other avenues available for us to take. The RipOff Report is one of the avenues to get the information out to the general public and hopefully will motivate these people to check their accounts and report any problems they find to the proper authorities.
The Office of the Attorney General can only act as a mediator between you and the company and they will tell you this when you file a complaint with them. But they can only do this for so long before they have to move on to the next complaint.
The Investigator may say after several months of corresponding with this company, they have no power to compel this company to respond or cooperate with their investigation. You may be advised to find an attorney to intercede legally for you.
This can be very disheartening to someone who has a legitimate problem and no money to hire the kind of lawyer it takes to fight this kind of case.
There are no laws that cover mortgage servicing fraud and/or abuse and it seems that there are no protections for the consumer who is having a problem with these mortgage servicing companies.
Yes, we could hire an attorney but most of us can not affort the kind of attorney it would take to file a lawsuit of this nature at our own expense.
Most of our time, energy and money is being used trying to get an investigation instituted by the regulating entities of these companies. We are doing everything we possibly can to stop these companies from ruining peoples lives.
It has been said that a Class Action Lawsuit does not get you back everything you lost,
you only get a certain percentage of the award because of the number of complaints and this
is also disheartening because they expect the companies to stop their deceptive and destructive
practices, and this does not happen.
A lot of people are being advised to file their own lawsuit in hopes of a better settlement.
The sad truth is the consumer doesn't always get their chance to prove their side of the
situation in court.
I have read posts where the consumer was made to look like a deadbeat or a person of lesser value because of the way they handled their account, despite their proof to the contrary.
To answer your question about the transfer notice you received yesterday, NO I did not receive any correspondence what-so-ever from either company that a transfer was taking place.
Do you know about ACORN and their Class Action Suit against Wells Fargo? Their web site is www.acorn.org It makes for some interesting reading as well.
You are one of the lucky ones that have never had a problem with Wells Fargo. There are several RipOff Reports and complaints where people are having the same problems with Wells Fargo that we have with America's Servicing Company.
Keep doing your research and please don't take any of the responses as a personal attack on you, they are responses to the information you received and posted.
I would never wish anyone bad luck or hope someone would go through what I have experienced with these people because I know exactly what happens and it's not an experience I would want to repeat.
Good luck to you, I sincerely hope and pray that you NEVER have a problem with ASC.
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What's this? #55 Consumer Comment
To Kaitlyn - Good job staying on top of everything!
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Saturday, January 29, 2005
THANK YOU for posting that!!
It is very good news for me to hear. I have been getting really nervous about the transfer, the closer I get to Feb 1st!
Good job staying on top of everything!
I appreciate your post!
By the way, did you set this up with ASC on their direct withdraw authorization or did you set this up with your bank?
It is very good news for me to hear. I have been getting really nervous about the transfer, the closer I get to Feb 1st!
Good job staying on top of everything!
I appreciate your post!
By the way, did you set this up with ASC on their direct withdraw authorization or did you set this up with your bank?
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What's this?
Hey Pam-
Why do you say that ASC is Fairbanks? Is this a rhetorical comment, or is there something else that has drawn you to this connection? The reason why I asked you that, is because I brought to the Attorney General's attention that the tactics were too similar to be ignored back in March 2004, after my loan was transferred to ASC from Fairbanks. However, I appealed to the FTC to investigate this connection, because the day after my loan officer contacted ASC for a payoff amount, suddenly my credit report read....ASC--Foreclosure in Process; (The Loan Servicing Center---Foreclosure in Process; Select Portfolio---Foreclosure in Process; Olympus Bank---Foreclosure in Process...all Alias names for Fairbanks). I had 4 different company names, with the same origination date, the same outstanding balance, and reported on the same day on my credit file. Prior to this date, there was no negative activity being reported on my credit file. Needless to say, the refinance did not go through.
So please share.....
Why do you say that ASC is Fairbanks? Is this a rhetorical comment, or is there something else that has drawn you to this connection? The reason why I asked you that, is because I brought to the Attorney General's attention that the tactics were too similar to be ignored back in March 2004, after my loan was transferred to ASC from Fairbanks. However, I appealed to the FTC to investigate this connection, because the day after my loan officer contacted ASC for a payoff amount, suddenly my credit report read....ASC--Foreclosure in Process; (The Loan Servicing Center---Foreclosure in Process; Select Portfolio---Foreclosure in Process; Olympus Bank---Foreclosure in Process...all Alias names for Fairbanks). I had 4 different company names, with the same origination date, the same outstanding balance, and reported on the same day on my credit file. Prior to this date, there was no negative activity being reported on my credit file. Needless to say, the refinance did not go through.
So please share.....
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What's this? #57 Consumer Comment
To Pam - Pana, Illinois ..ASC is a division of Wells Fargo
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Friday, January 28, 2005
Where did you get this information??
I found that Fairbanks is now working as "Select Portfolio" on bbb.org
ASC is a division of Wells Fargo from what I have heard from my present mortgage company and from ASC. Also as I had said Norwest is named as the owner of ASC. I found this on the Maryland Dept of Assesments and Taxation website (Norwest merged with Wells Fargo)
Can you please be specific on where you heard this?
I found that Fairbanks is now working as "Select Portfolio" on bbb.org
ASC is a division of Wells Fargo from what I have heard from my present mortgage company and from ASC. Also as I had said Norwest is named as the owner of ASC. I found this on the Maryland Dept of Assesments and Taxation website (Norwest merged with Wells Fargo)
Can you please be specific on where you heard this?
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What's this? #58 Consumer Comment
To Pam - Pana, Illinois ..ASC is a division of Wells Fargo
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Friday, January 28, 2005
Where did you get this information??
I found that Fairbanks is now working as "Select Portfolio" on bbb.org
ASC is a division of Wells Fargo from what I have heard from my present mortgage company and from ASC. Also as I had said Norwest is named as the owner of ASC. I found this on the Maryland Dept of Assesments and Taxation website (Norwest merged with Wells Fargo)
Can you please be specific on where you heard this?
I found that Fairbanks is now working as "Select Portfolio" on bbb.org
ASC is a division of Wells Fargo from what I have heard from my present mortgage company and from ASC. Also as I had said Norwest is named as the owner of ASC. I found this on the Maryland Dept of Assesments and Taxation website (Norwest merged with Wells Fargo)
Can you please be specific on where you heard this?
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What's this? #59 Consumer Comment
Dont believe a word they say ASC is Fairbanks ..doing what they do best STEALING HOMES
AUTHOR: Pam - (U.S.A.)
SUBMITTED: Friday, January 28, 2005
They have changed there name for the third time since the lawsuit
They are still doing what they do best STEALING HOMES
They are still doing what they do best STEALING HOMES
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What's this? #60 Consumer Suggestion
Per M - Harrisburg, Pennsylvania Request....
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Friday, January 28, 2005
My findings/information which lead me to my comment:
1)Spoke with Dept of real estate-no info on file
2)Spoke to Dept of Corporation-no action on file, no info on file for this company.
3)looked up bbb.org. Company has an unsatisfactory rating because they failed to respond to complaints, there were a total of 8 complaints on file. 8 out of how many accounts they handle.....?
4)Spoke to my broker, she had heard of the company but nothing negative
5)spoke to rep at 202-708-0502, could not get any info.
6)called FTC could not get any info
7) called HUD again and was told that I shouldn't worry about anything as long as I have proof that money was taken from my account, explained the protection right, and told me about the "one" complaint that she knew of, as I explained previously and keep paper trail of everything.
8) spoke with a real estate attorney, explained the protection law to me as well and made suggestions that I have already heard, keep paper trail of EVERYTHING!
as much as you would "LOVE" for me to be an employee of either company sorry to disappoint you, I am a concerned comsumer, and thats all to it.
SUGGESTIONS for people having accounts transferred to ANY company:
Prior to transfer "BE SURE" that your current lender has ALL of your information correct!!
*** VERY,VERY IMPORTANT***.
This is what I have done so far.
1) Verify that your insurance information is accurate. Request them to send you a copy or print from their website if it is available.
2) get an account activity report from them showing all of payments made, and amounts that are due next. Including impound account activity if you have that.
3)get your cancelled checks and Bank statements showing the days that each of these payments were deducted from your account with your present lender. If you have been with them for awhile, it may take some time, but well worth it, the activity report from your lender will help with this as well.
4) get a Evidence of Insurance letter from your Ins Co. and fax/certify mail that to them when the transfer is complete. Also your property tax information. Keep those forms including proof that you sent it and keep it in a safe place.
You can also make all these public as well, JUST to be safe.
Do this ASAP because after the transfer it may be difficult to obtain.
Good Luck to all!!
1)Spoke with Dept of real estate-no info on file
2)Spoke to Dept of Corporation-no action on file, no info on file for this company.
3)looked up bbb.org. Company has an unsatisfactory rating because they failed to respond to complaints, there were a total of 8 complaints on file. 8 out of how many accounts they handle.....?
4)Spoke to my broker, she had heard of the company but nothing negative
5)spoke to rep at 202-708-0502, could not get any info.
6)called FTC could not get any info
7) called HUD again and was told that I shouldn't worry about anything as long as I have proof that money was taken from my account, explained the protection right, and told me about the "one" complaint that she knew of, as I explained previously and keep paper trail of everything.
8) spoke with a real estate attorney, explained the protection law to me as well and made suggestions that I have already heard, keep paper trail of EVERYTHING!
as much as you would "LOVE" for me to be an employee of either company sorry to disappoint you, I am a concerned comsumer, and thats all to it.
SUGGESTIONS for people having accounts transferred to ANY company:
Prior to transfer "BE SURE" that your current lender has ALL of your information correct!!
*** VERY,VERY IMPORTANT***.
This is what I have done so far.
1) Verify that your insurance information is accurate. Request them to send you a copy or print from their website if it is available.
2) get an account activity report from them showing all of payments made, and amounts that are due next. Including impound account activity if you have that.
3)get your cancelled checks and Bank statements showing the days that each of these payments were deducted from your account with your present lender. If you have been with them for awhile, it may take some time, but well worth it, the activity report from your lender will help with this as well.
4) get a Evidence of Insurance letter from your Ins Co. and fax/certify mail that to them when the transfer is complete. Also your property tax information. Keep those forms including proof that you sent it and keep it in a safe place.
You can also make all these public as well, JUST to be safe.
Do this ASAP because after the transfer it may be difficult to obtain.
Good Luck to all!!
Respond to this report!
What's this? #61 Consumer Suggestion
Per M - Harrisburg, Pennsylvania Request....
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Friday, January 28, 2005
My findings/information which lead me to my comment:
1)Spoke with Dept of real estate-no info on file
2)Spoke to Dept of Corporation-no action on file, no info on file for this company.
3)looked up bbb.org. Company has an unsatisfactory rating because they failed to respond to complaints, there were a total of 8 complaints on file. 8 out of how many accounts they handle.....?
4)Spoke to my broker, she had heard of the company but nothing negative
5)spoke to rep at 202-708-0502, could not get any info.
6)called FTC could not get any info
7) called HUD again and was told that I shouldn't worry about anything as long as I have proof that money was taken from my account, explained the protection right, and told me about the "one" complaint that she knew of, as I explained previously and keep paper trail of everything.
8) spoke with a real estate attorney, explained the protection law to me as well and made suggestions that I have already heard, keep paper trail of EVERYTHING!
as much as you would "LOVE" for me to be an employee of either company sorry to disappoint you, I am a concerned comsumer, and thats all to it.
SUGGESTIONS for people having accounts transferred to ANY company:
Prior to transfer "BE SURE" that your current lender has ALL of your information correct!!
*** VERY,VERY IMPORTANT***.
This is what I have done so far.
1) Verify that your insurance information is accurate. Request them to send you a copy or print from their website if it is available.
2) get an account activity report from them showing all of payments made, and amounts that are due next. Including impound account activity if you have that.
3)get your cancelled checks and Bank statements showing the days that each of these payments were deducted from your account with your present lender. If you have been with them for awhile, it may take some time, but well worth it, the activity report from your lender will help with this as well.
4) get a Evidence of Insurance letter from your Ins Co. and fax/certify mail that to them when the transfer is complete. Also your property tax information. Keep those forms including proof that you sent it and keep it in a safe place.
You can also make all these public as well, JUST to be safe.
Do this ASAP because after the transfer it may be difficult to obtain.
Good Luck to all!!
1)Spoke with Dept of real estate-no info on file
2)Spoke to Dept of Corporation-no action on file, no info on file for this company.
3)looked up bbb.org. Company has an unsatisfactory rating because they failed to respond to complaints, there were a total of 8 complaints on file. 8 out of how many accounts they handle.....?
4)Spoke to my broker, she had heard of the company but nothing negative
5)spoke to rep at 202-708-0502, could not get any info.
6)called FTC could not get any info
7) called HUD again and was told that I shouldn't worry about anything as long as I have proof that money was taken from my account, explained the protection right, and told me about the "one" complaint that she knew of, as I explained previously and keep paper trail of everything.
8) spoke with a real estate attorney, explained the protection law to me as well and made suggestions that I have already heard, keep paper trail of EVERYTHING!
as much as you would "LOVE" for me to be an employee of either company sorry to disappoint you, I am a concerned comsumer, and thats all to it.
SUGGESTIONS for people having accounts transferred to ANY company:
Prior to transfer "BE SURE" that your current lender has ALL of your information correct!!
*** VERY,VERY IMPORTANT***.
This is what I have done so far.
1) Verify that your insurance information is accurate. Request them to send you a copy or print from their website if it is available.
2) get an account activity report from them showing all of payments made, and amounts that are due next. Including impound account activity if you have that.
3)get your cancelled checks and Bank statements showing the days that each of these payments were deducted from your account with your present lender. If you have been with them for awhile, it may take some time, but well worth it, the activity report from your lender will help with this as well.
4) get a Evidence of Insurance letter from your Ins Co. and fax/certify mail that to them when the transfer is complete. Also your property tax information. Keep those forms including proof that you sent it and keep it in a safe place.
You can also make all these public as well, JUST to be safe.
Do this ASAP because after the transfer it may be difficult to obtain.
Good Luck to all!!
Respond to this report!
What's this? #62 Consumer Suggestion
Per M - Harrisburg, Pennsylvania Request....
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Friday, January 28, 2005
My findings/information which lead me to my comment:
1)Spoke with Dept of real estate-no info on file
2)Spoke to Dept of Corporation-no action on file, no info on file for this company.
3)looked up bbb.org. Company has an unsatisfactory rating because they failed to respond to complaints, there were a total of 8 complaints on file. 8 out of how many accounts they handle.....?
4)Spoke to my broker, she had heard of the company but nothing negative
5)spoke to rep at 202-708-0502, could not get any info.
6)called FTC could not get any info
7) called HUD again and was told that I shouldn't worry about anything as long as I have proof that money was taken from my account, explained the protection right, and told me about the "one" complaint that she knew of, as I explained previously and keep paper trail of everything.
8) spoke with a real estate attorney, explained the protection law to me as well and made suggestions that I have already heard, keep paper trail of EVERYTHING!
as much as you would "LOVE" for me to be an employee of either company sorry to disappoint you, I am a concerned comsumer, and thats all to it.
SUGGESTIONS for people having accounts transferred to ANY company:
Prior to transfer "BE SURE" that your current lender has ALL of your information correct!!
*** VERY,VERY IMPORTANT***.
This is what I have done so far.
1) Verify that your insurance information is accurate. Request them to send you a copy or print from their website if it is available.
2) get an account activity report from them showing all of payments made, and amounts that are due next. Including impound account activity if you have that.
3)get your cancelled checks and Bank statements showing the days that each of these payments were deducted from your account with your present lender. If you have been with them for awhile, it may take some time, but well worth it, the activity report from your lender will help with this as well.
4) get a Evidence of Insurance letter from your Ins Co. and fax/certify mail that to them when the transfer is complete. Also your property tax information. Keep those forms including proof that you sent it and keep it in a safe place.
You can also make all these public as well, JUST to be safe.
Do this ASAP because after the transfer it may be difficult to obtain.
Good Luck to all!!
1)Spoke with Dept of real estate-no info on file
2)Spoke to Dept of Corporation-no action on file, no info on file for this company.
3)looked up bbb.org. Company has an unsatisfactory rating because they failed to respond to complaints, there were a total of 8 complaints on file. 8 out of how many accounts they handle.....?
4)Spoke to my broker, she had heard of the company but nothing negative
5)spoke to rep at 202-708-0502, could not get any info.
6)called FTC could not get any info
7) called HUD again and was told that I shouldn't worry about anything as long as I have proof that money was taken from my account, explained the protection right, and told me about the "one" complaint that she knew of, as I explained previously and keep paper trail of everything.
8) spoke with a real estate attorney, explained the protection law to me as well and made suggestions that I have already heard, keep paper trail of EVERYTHING!
as much as you would "LOVE" for me to be an employee of either company sorry to disappoint you, I am a concerned comsumer, and thats all to it.
SUGGESTIONS for people having accounts transferred to ANY company:
Prior to transfer "BE SURE" that your current lender has ALL of your information correct!!
*** VERY,VERY IMPORTANT***.
This is what I have done so far.
1) Verify that your insurance information is accurate. Request them to send you a copy or print from their website if it is available.
2) get an account activity report from them showing all of payments made, and amounts that are due next. Including impound account activity if you have that.
3)get your cancelled checks and Bank statements showing the days that each of these payments were deducted from your account with your present lender. If you have been with them for awhile, it may take some time, but well worth it, the activity report from your lender will help with this as well.
4) get a Evidence of Insurance letter from your Ins Co. and fax/certify mail that to them when the transfer is complete. Also your property tax information. Keep those forms including proof that you sent it and keep it in a safe place.
You can also make all these public as well, JUST to be safe.
Do this ASAP because after the transfer it may be difficult to obtain.
Good Luck to all!!
Respond to this report!
What's this? #63 Consumer Suggestion
Per M - Harrisburg, Pennsylvania Request....
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Friday, January 28, 2005
My findings/information which lead me to my comment:
1)Spoke with Dept of real estate-no info on file
2)Spoke to Dept of Corporation-no action on file, no info on file for this company.
3)looked up bbb.org. Company has an unsatisfactory rating because they failed to respond to complaints, there were a total of 8 complaints on file. 8 out of how many accounts they handle.....?
4)Spoke to my broker, she had heard of the company but nothing negative
5)spoke to rep at 202-708-0502, could not get any info.
6)called FTC could not get any info
7) called HUD again and was told that I shouldn't worry about anything as long as I have proof that money was taken from my account, explained the protection right, and told me about the "one" complaint that she knew of, as I explained previously and keep paper trail of everything.
8) spoke with a real estate attorney, explained the protection law to me as well and made suggestions that I have already heard, keep paper trail of EVERYTHING!
as much as you would "LOVE" for me to be an employee of either company sorry to disappoint you, I am a concerned comsumer, and thats all to it.
SUGGESTIONS for people having accounts transferred to ANY company:
Prior to transfer "BE SURE" that your current lender has ALL of your information correct!!
*** VERY,VERY IMPORTANT***.
This is what I have done so far.
1) Verify that your insurance information is accurate. Request them to send you a copy or print from their website if it is available.
2) get an account activity report from them showing all of payments made, and amounts that are due next. Including impound account activity if you have that.
3)get your cancelled checks and Bank statements showing the days that each of these payments were deducted from your account with your present lender. If you have been with them for awhile, it may take some time, but well worth it, the activity report from your lender will help with this as well.
4) get a Evidence of Insurance letter from your Ins Co. and fax/certify mail that to them when the transfer is complete. Also your property tax information. Keep those forms including proof that you sent it and keep it in a safe place.
You can also make all these public as well, JUST to be safe.
Do this ASAP because after the transfer it may be difficult to obtain.
Good Luck to all!!
1)Spoke with Dept of real estate-no info on file
2)Spoke to Dept of Corporation-no action on file, no info on file for this company.
3)looked up bbb.org. Company has an unsatisfactory rating because they failed to respond to complaints, there were a total of 8 complaints on file. 8 out of how many accounts they handle.....?
4)Spoke to my broker, she had heard of the company but nothing negative
5)spoke to rep at 202-708-0502, could not get any info.
6)called FTC could not get any info
7) called HUD again and was told that I shouldn't worry about anything as long as I have proof that money was taken from my account, explained the protection right, and told me about the "one" complaint that she knew of, as I explained previously and keep paper trail of everything.
8) spoke with a real estate attorney, explained the protection law to me as well and made suggestions that I have already heard, keep paper trail of EVERYTHING!
as much as you would "LOVE" for me to be an employee of either company sorry to disappoint you, I am a concerned comsumer, and thats all to it.
SUGGESTIONS for people having accounts transferred to ANY company:
Prior to transfer "BE SURE" that your current lender has ALL of your information correct!!
*** VERY,VERY IMPORTANT***.
This is what I have done so far.
1) Verify that your insurance information is accurate. Request them to send you a copy or print from their website if it is available.
2) get an account activity report from them showing all of payments made, and amounts that are due next. Including impound account activity if you have that.
3)get your cancelled checks and Bank statements showing the days that each of these payments were deducted from your account with your present lender. If you have been with them for awhile, it may take some time, but well worth it, the activity report from your lender will help with this as well.
4) get a Evidence of Insurance letter from your Ins Co. and fax/certify mail that to them when the transfer is complete. Also your property tax information. Keep those forms including proof that you sent it and keep it in a safe place.
You can also make all these public as well, JUST to be safe.
Do this ASAP because after the transfer it may be difficult to obtain.
Good Luck to all!!
Respond to this report!
What's this? #64 Consumer Comment
The Latest on What's Happening
AUTHOR: Kaitlyn - (U.S.A.)
SUBMITTED: Friday, January 28, 2005
Everyone, please know that I'm just simply telling what has happened recently, and in no way trying to incinuate or suggest any doubt on everyone else's opinion. I believe you! And I do not work for ASC.
Well, my loan was transferred as of January 15, 2005. I had what I said on my last posting, but still I was very anxious about my payment going through.
I took someone's suggestion in having my bank's bill pay service to do it, that way they cannot dispute that the payment "was lost" or claim I didn't mail it on time. I had the bill pay service to send payment on January 25. I was holding my breath, and checked my bank account today and saw the payment actually cleared my account yesterday.
Still doubting, I called ASC at the number provided, and asked her to please verify the amount received and posted to my loan as well as fax me a loan statement. She verified the correct amount and date, and said the fax would be sent to me within 5 business days (which I found was kind of odd...).
STILL doubting, I called my bank and asked them to verify that the payment was sent and cleared. He said that ASC has an arrangement with the bank (SunTrust) to receive payments electronically, and that is why the payment sent on the 25th cleared the next day.
Until after I verified and re-verified (and taking notes, names, copies, everything of anything anyone said, just in case) with both ASC and the bank, I wasn't satisfied. I feel a bit better now, at least about this latest payment which was due on February 1.
Maybe this was a "beginner's luck".....
I still don't trust them, and am holding my breath until the next payment clears. And the next.
About everyone getting difference answers and responses, like I asked in my last posting, maybe there are different "branches" or "subsidiaries" or "subcontractors" doing business?? I don't know. If the same people are doing it and still everyone's getting different answers and responses, something doesn't sound right - on their part, not you guys!
Again, I want to thank everyone for telling the world about the experience and what to look out for. I will let you know what happens next.
Well, my loan was transferred as of January 15, 2005. I had what I said on my last posting, but still I was very anxious about my payment going through.
I took someone's suggestion in having my bank's bill pay service to do it, that way they cannot dispute that the payment "was lost" or claim I didn't mail it on time. I had the bill pay service to send payment on January 25. I was holding my breath, and checked my bank account today and saw the payment actually cleared my account yesterday.
Still doubting, I called ASC at the number provided, and asked her to please verify the amount received and posted to my loan as well as fax me a loan statement. She verified the correct amount and date, and said the fax would be sent to me within 5 business days (which I found was kind of odd...).
STILL doubting, I called my bank and asked them to verify that the payment was sent and cleared. He said that ASC has an arrangement with the bank (SunTrust) to receive payments electronically, and that is why the payment sent on the 25th cleared the next day.
Until after I verified and re-verified (and taking notes, names, copies, everything of anything anyone said, just in case) with both ASC and the bank, I wasn't satisfied. I feel a bit better now, at least about this latest payment which was due on February 1.
Maybe this was a "beginner's luck".....
I still don't trust them, and am holding my breath until the next payment clears. And the next.
About everyone getting difference answers and responses, like I asked in my last posting, maybe there are different "branches" or "subsidiaries" or "subcontractors" doing business?? I don't know. If the same people are doing it and still everyone's getting different answers and responses, something doesn't sound right - on their part, not you guys!
Again, I want to thank everyone for telling the world about the experience and what to look out for. I will let you know what happens next.
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What's this? #65 Consumer Comment
MOTIVE..........???
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
The ONLY motive I have is finding out what kind of company is taking over my loan.
You guys can't see that?? Right away you want to judge just because someone has a different comment then you.
The information that HUD told me was about the consumer laws that protects us and that I shouldn't worry about this as long as I am able to show payments sent and proof that it cleared my bank as I HAD SAID in yesterdays post when I suggested that you do the same. Maybe they aren't able to give any info, but she didn't have to tell me "the only one that she knew of" either, she was trying to be helpful, that was my take on it anyway. I hardly doubt that she would go to the extent to lie to me. What purpose would that have served them....
I have been told that researching everything about this company prior to the transfer is the RIGHT thing for me to do by people on a website dedicated to this topic, you are the only ones that are trying to make it out as something "BAD" to do
Are you guys being foreclosed on or are you in a battle of fees. Are you able to show WHEN each monthly payment was taken out of your bank account? If so, shouldn't an attorney be able to defend you on this?
I'm not battling you with this. I have taken everything that you said to heart that I have even lost sleep over it. That is why I am doing as much as I can so I can get a full understanding, protect myself and finally get some sleep.
Now instead of ATTACKING me on this post and making ridiculous accusations and trying to paint an false picture about me to others that read this, lets act like mature adults and get some information that can help people that are going through this and people that potentially may go through it. So we all can get some sleep.
NOW with that said,
just today I received in the mail the transfer notice from ASC . It had my old account number and my new one. It also had a payment address and a corresponding address. It also included a form for direct withdraw and what I found interesting was a little Wells Fargo privacy policy pamphlet.
Was this the same information that you rec'd?
Now, I was told that Wells Fargo is their parent company. I also found online while I was researching that Norwest was the owner of America's servicing company and obviously Wells Fargo became their parent company when the two merged. I had a Wells Fargo mortgage before and I NEVER had a problem with them EVER.
Why do they have this seperate servicing company anyway?
You guys can't see that?? Right away you want to judge just because someone has a different comment then you.
The information that HUD told me was about the consumer laws that protects us and that I shouldn't worry about this as long as I am able to show payments sent and proof that it cleared my bank as I HAD SAID in yesterdays post when I suggested that you do the same. Maybe they aren't able to give any info, but she didn't have to tell me "the only one that she knew of" either, she was trying to be helpful, that was my take on it anyway. I hardly doubt that she would go to the extent to lie to me. What purpose would that have served them....
I have been told that researching everything about this company prior to the transfer is the RIGHT thing for me to do by people on a website dedicated to this topic, you are the only ones that are trying to make it out as something "BAD" to do
Are you guys being foreclosed on or are you in a battle of fees. Are you able to show WHEN each monthly payment was taken out of your bank account? If so, shouldn't an attorney be able to defend you on this?
I'm not battling you with this. I have taken everything that you said to heart that I have even lost sleep over it. That is why I am doing as much as I can so I can get a full understanding, protect myself and finally get some sleep.
Now instead of ATTACKING me on this post and making ridiculous accusations and trying to paint an false picture about me to others that read this, lets act like mature adults and get some information that can help people that are going through this and people that potentially may go through it. So we all can get some sleep.
NOW with that said,
just today I received in the mail the transfer notice from ASC . It had my old account number and my new one. It also had a payment address and a corresponding address. It also included a form for direct withdraw and what I found interesting was a little Wells Fargo privacy policy pamphlet.
Was this the same information that you rec'd?
Now, I was told that Wells Fargo is their parent company. I also found online while I was researching that Norwest was the owner of America's servicing company and obviously Wells Fargo became their parent company when the two merged. I had a Wells Fargo mortgage before and I NEVER had a problem with them EVER.
Why do they have this seperate servicing company anyway?
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What's this? #66 Consumer Comment
Hopefully everyone that reads your posts will realize that you have some other motive and will consider the real issue and follow the advice on the other ASC posts
AUTHOR: M - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I agree with the latest post from Bowie! I also wonder if you are working for America's Servicing Company or Wells Fargo, and are attempting to do some damage control.
Hopefully everyone that reads your posts will realize that you have some other motive and will consider the real issue and follow the advice on the other ASC posts on the RipOff Report relating to documenting all their transactions with America's Servicing Company.
For someone who has not had any problems YET, I too do not understand why you are so diligent in trying to prove whether there is an investigation or not.
I too have filed complaints with the FTC, Office of the Attorney General and the U.S. Deparment of Housing and Urban Development.
I also know for a fact there are other complaints other than that of Bowie from Maryland amd mine because I have helped other individuals file their complaints.
Now, whether the complaints are automatically investigated or not is another story.
Just because they haven't posted their complaints with the RipOff Report and you can not get solid confirmation over the telephone, does not negate the fact there are probably hundreds of people with these same problems with America's Servicing Company.
Also, what makes you think that you are going to find information simply by asking these entities if there are complaints filed against ASC?
Each entity in all probability has a policy against divulging information on their investigations. And privacy of the complaintant may also be an issue in this.
I read your posts and noticed something extremely interesting. How come you haven't posted any of the HELPFUL INFORMATION you claim you received from these people you have contacted?
If you were interested enough to make contact with those different individuals, you should be more than willing to share this HELPFUL INFORMATION with us.
How come you neglected to post this information? I'm sure there are others who want to know what you know.
Bowie and I are still trying to get answers to our questions. I question whether you received the answers to questions that we have not been able to get for several months simply by making a few telephone calls.
I anxiously await your post filling us in on the details of your investigation and findings.
Hopefully everyone that reads your posts will realize that you have some other motive and will consider the real issue and follow the advice on the other ASC posts on the RipOff Report relating to documenting all their transactions with America's Servicing Company.
For someone who has not had any problems YET, I too do not understand why you are so diligent in trying to prove whether there is an investigation or not.
I too have filed complaints with the FTC, Office of the Attorney General and the U.S. Deparment of Housing and Urban Development.
I also know for a fact there are other complaints other than that of Bowie from Maryland amd mine because I have helped other individuals file their complaints.
Now, whether the complaints are automatically investigated or not is another story.
Just because they haven't posted their complaints with the RipOff Report and you can not get solid confirmation over the telephone, does not negate the fact there are probably hundreds of people with these same problems with America's Servicing Company.
Also, what makes you think that you are going to find information simply by asking these entities if there are complaints filed against ASC?
Each entity in all probability has a policy against divulging information on their investigations. And privacy of the complaintant may also be an issue in this.
I read your posts and noticed something extremely interesting. How come you haven't posted any of the HELPFUL INFORMATION you claim you received from these people you have contacted?
If you were interested enough to make contact with those different individuals, you should be more than willing to share this HELPFUL INFORMATION with us.
How come you neglected to post this information? I'm sure there are others who want to know what you know.
Bowie and I are still trying to get answers to our questions. I question whether you received the answers to questions that we have not been able to get for several months simply by making a few telephone calls.
I anxiously await your post filling us in on the details of your investigation and findings.
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What's this?
You think that doing research about a company that has bought my mortgage loan is unusual??
I am concerned about what I had read, so I am inquiring about it and posting my findings just as you are. That's why this site has selections of suggestions, and consumer comments and not just complaints.
For you information I am the one that posted the suggestion on filing the info with the courthouse.
To suggestion that I am an employee of America's Servicing Company just because I called the number you gave and got a different answer from those individuals is ridiculous, I can assure you I am NOT an employee of ASC. Maybe you should call HUD and ask why I was given different information and then post the details of that conversation here.
Yes, I hear Faibanks come up alot, they seem to be the poster child of this topic, but we are not discussing Fairbanks here, are we. I am concerned with ASC and it would be GREAT if I can get informaion regarding ASC only, since they are not affiliated with Fairbanks.
The fact that you "anxiously" await my posting in 8 months suggest that you are actually looking forward to possible problems that I may encounter, which is very sad, as I am here hoping that your problems work out to your benefit and I am willing and trying to pass on information that I obtain that may help you.
I am concerned about what I had read, so I am inquiring about it and posting my findings just as you are. That's why this site has selections of suggestions, and consumer comments and not just complaints.
For you information I am the one that posted the suggestion on filing the info with the courthouse.
To suggestion that I am an employee of America's Servicing Company just because I called the number you gave and got a different answer from those individuals is ridiculous, I can assure you I am NOT an employee of ASC. Maybe you should call HUD and ask why I was given different information and then post the details of that conversation here.
Yes, I hear Faibanks come up alot, they seem to be the poster child of this topic, but we are not discussing Fairbanks here, are we. I am concerned with ASC and it would be GREAT if I can get informaion regarding ASC only, since they are not affiliated with Fairbanks.
The fact that you "anxiously" await my posting in 8 months suggest that you are actually looking forward to possible problems that I may encounter, which is very sad, as I am here hoping that your problems work out to your benefit and I am willing and trying to pass on information that I obtain that may help you.
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What's this? #68 Consumer Suggestion
America's Servicing Company is Wells Fargo
AUTHOR: Ceanethia - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
It was discovered in August 2004 that Wells Fargo is acting under the name of America's Servicing Company. Agencies such as the Office of Thrift Supervision and The Division of Financial Regulation were previously assisting with consumer complaints. However, when it was revealed who the real culprit was, the federal regulated agencies were notified, and all complaints were transferred to those agencies under the file name "Wells Fargo." The one page website has only been existence since June 2004.
If you are looking to find out any information on complaints against this company with HUD, FTC and OCC, then you will have to refer to Wells Fargo dba America's Servicing Company.
If you are looking to find out any information on complaints against this company with HUD, FTC and OCC, then you will have to refer to Wells Fargo dba America's Servicing Company.
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What's this? #69 Consumer Suggestion
Response for Name Withheld in California
AUTHOR: Ceanethia - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
You are doing a lot for someone who hasn't been victimized by America's Servicing Company. Usually posters are people who have encountered various problems with companies. Why are you on this website? Are you an employee of America's Servicing Company?
For the record, I am complaint number 347 for America's Servicing Company, and this was in June 2004-filed with HUD.
I remembered when warnings came out about a big investigation against Fairbanks in February 2003. There were many who didn't believe such problems existed. However, a year later over 375,000 people filed claims against this company in a class action suit.
You don't have to believe---I anxiously await your posts in about 8 months from now. Until then....Good Luck!
For the record, I am complaint number 347 for America's Servicing Company, and this was in June 2004-filed with HUD.
I remembered when warnings came out about a big investigation against Fairbanks in February 2003. There were many who didn't believe such problems existed. However, a year later over 375,000 people filed claims against this company in a class action suit.
You don't have to believe---I anxiously await your posts in about 8 months from now. Until then....Good Luck!
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What's this? #70 Consumer Comment
I called the HUD # you provided
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I called and spoke to Joy Headly. She couldn't give me any info. She transferred me to someone else, who told me that the only complaint that she knew of coming through her office was investigated and they found no wrong doing on the part of ASC.
She really put me at ease with the information she gave me. I'm not trying to say that your not going through what you say you are, and I wish you well and I hope that you are able to work it out and that everything turns out to your advantage.
With the information that I have obtained it seems like when you say they are under investigation you are referring to your individual complaint and not this HUGE federal investigation that it initial sounded like and I'm sure alot of people took it that way, including me.
When people file a complaint to HUD and FTC they automatically do an investigation on behald of that individual.
Just be sure that you have proof of payment, date and proof that it cleared your bank. Also, get a Evidence of Insurance letter from your insurance company and fax it and certify mail it, make that public through the courts as well. Don't just use the declaration page because that always shows an amount due. evidence of insurance letter is what the ins company sends to the mortgage company.
Good luck
She really put me at ease with the information she gave me. I'm not trying to say that your not going through what you say you are, and I wish you well and I hope that you are able to work it out and that everything turns out to your advantage.
With the information that I have obtained it seems like when you say they are under investigation you are referring to your individual complaint and not this HUGE federal investigation that it initial sounded like and I'm sure alot of people took it that way, including me.
When people file a complaint to HUD and FTC they automatically do an investigation on behald of that individual.
Just be sure that you have proof of payment, date and proof that it cleared your bank. Also, get a Evidence of Insurance letter from your insurance company and fax it and certify mail it, make that public through the courts as well. Don't just use the declaration page because that always shows an amount due. evidence of insurance letter is what the ins company sends to the mortgage company.
Good luck
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What's this? #71 Consumer Comment
My loan is being transferred as of Feb 1st
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
Did you say that you loan is being transefered Feb 1st and you were able to already get a statement? I was told that I had to wait a week before I can get any information.
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What's this? #72 Consumer Comment
My loan is being transferred as of Feb 1st
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
Did you say that you loan is being transefered Feb 1st and you were able to already get a statement? I was told that I had to wait a week before I can get any information.
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What's this? #73 Consumer Comment
My loan is being transferred as of Feb 1st
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
Did you say that you loan is being transefered Feb 1st and you were able to already get a statement? I was told that I had to wait a week before I can get any information.
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What's this? #74 Consumer Comment
My loan is being transferred as of Feb 1st
AUTHOR: Withheld - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
Did you say that you loan is being transefered Feb 1st and you were able to already get a statement? I was told that I had to wait a week before I can get any information.
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What's this? #75 Consumer Comment
What is the latest?
AUTHOR: Kaitlyn - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
To Julie in Hawaii who originally posted this:
Just curious to see how things have turned out for you with ASC. My loan servicing was also transferred to ASC by Taylor, Bean & Whitaker this month. Which is unfortunate, because TB&W have been extremely helpful, with electronic payments online and helpful staff at customer service line. When I called ASC today about my first payment to them due on February 1, I did exactlly what everyone is suggesting - TAKE NOTES - KEEP RECORDS. I had a luke-warm feeling when I spoke to ASC but at least she was responsive and polite. She did fax me the statement with payment coupon when I asked her to since I hadn't received it in the mail (BTW I just received it today).
My confusion is, where are they REALLY located? The letter for my loan had two addresses listed, one for payment in Maryland and correspondence in Des Moines, IA. I see everyoone listing what they had for their address and it seems they keep changing it periodically - thus their tactic of "you sent it to a wrong address"?
Also the notification letter from ASC about servicing transfer had the following:
Loan Number (both for ASC and TB&W)
Addresses for payment and correspondence
Customer Service telephone number with office hours listed Signed by a vice president (Sandra K. Bondarenko, Assistant Vice President)
Previous servicer's (TB&W) contact info
And on the first statement I just received:
Loan Number
Mailing addresses
Phone Number and fax number with hours
Principal balance (which matches my previous servicer's statement)
Interest rate, Interest & Taxes paid year to date
Escrow balance (which also matches TB&W's)
Due date
Date and amount of late payment assessment (After February 15)
"Important Messages" which said: "Disputing account information reported to credit bureaus: As your loan servicer, we furnish information about your account to credit bureaus. You have the right to dispute the accuracy of the information reported by writing us at the Correspondence Address noted on the top of this statement."
Are we talking about the same company???? It just looked like the letter/statement have everything everyone else said wasn't included. Do you know if any lawsuits or criminal legal proceedings that may have concluded recently, that may have made ASC change their behavior????
I'm just trying to find out who these guys really are, look out for any "warning signs" based on everyone's testimony. I don't mean and am not trying to cast a doubt or dispute what everyone had gone through - I believe all of what you said - if it wasn't true, then we wouldn't have so many reports with very similar scenarios!
If anyone can let me know what the latest is on these guys I would greatly appreciate it.
Thank you.
Just curious to see how things have turned out for you with ASC. My loan servicing was also transferred to ASC by Taylor, Bean & Whitaker this month. Which is unfortunate, because TB&W have been extremely helpful, with electronic payments online and helpful staff at customer service line. When I called ASC today about my first payment to them due on February 1, I did exactlly what everyone is suggesting - TAKE NOTES - KEEP RECORDS. I had a luke-warm feeling when I spoke to ASC but at least she was responsive and polite. She did fax me the statement with payment coupon when I asked her to since I hadn't received it in the mail (BTW I just received it today).
My confusion is, where are they REALLY located? The letter for my loan had two addresses listed, one for payment in Maryland and correspondence in Des Moines, IA. I see everyoone listing what they had for their address and it seems they keep changing it periodically - thus their tactic of "you sent it to a wrong address"?
Also the notification letter from ASC about servicing transfer had the following:
Loan Number (both for ASC and TB&W)
Addresses for payment and correspondence
Customer Service telephone number with office hours listed Signed by a vice president (Sandra K. Bondarenko, Assistant Vice President)
Previous servicer's (TB&W) contact info
And on the first statement I just received:
Loan Number
Mailing addresses
Phone Number and fax number with hours
Principal balance (which matches my previous servicer's statement)
Interest rate, Interest & Taxes paid year to date
Escrow balance (which also matches TB&W's)
Due date
Date and amount of late payment assessment (After February 15)
"Important Messages" which said: "Disputing account information reported to credit bureaus: As your loan servicer, we furnish information about your account to credit bureaus. You have the right to dispute the accuracy of the information reported by writing us at the Correspondence Address noted on the top of this statement."
Are we talking about the same company???? It just looked like the letter/statement have everything everyone else said wasn't included. Do you know if any lawsuits or criminal legal proceedings that may have concluded recently, that may have made ASC change their behavior????
I'm just trying to find out who these guys really are, look out for any "warning signs" based on everyone's testimony. I don't mean and am not trying to cast a doubt or dispute what everyone had gone through - I believe all of what you said - if it wasn't true, then we wouldn't have so many reports with very similar scenarios!
If anyone can let me know what the latest is on these guys I would greatly appreciate it.
Thank you.
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What's this? #76 Consumer Suggestion
Great Suggestions!!!
AUTHOR: C - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
Hey W from Whittier, California!
I have done everything that was listed except for the part about having everything docketed at the courthouse. Guess where I am going this week? That is a superb suggestion. I have every one of my cancelled certified checks; my certified mailing receipts, and all of ASC postmarked envelopes.
Thanks for the productive suggestion!
I have done everything that was listed except for the part about having everything docketed at the courthouse. Guess where I am going this week? That is a superb suggestion. I have every one of my cancelled certified checks; my certified mailing receipts, and all of ASC postmarked envelopes.
Thanks for the productive suggestion!
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What's this? #77 Consumer Suggestion
America's Servicing Company Is Being Investigated!!!
AUTHOR: C - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I know what I speak! I have been going through the America's Servicing Company ordeal for 13 months now. Two years prior was the Fairbanks nightmare.
The Federal Trade Commission only posts class actions suits on their websites. This case with ASC is in the investigation stages right now. However, if more complaints are filed; then this will be a class action case just like Fairbanks Capital Corporation. I already have my case number on file with the FTC.
Forget Ms. Norfleet----no she doesn't respond to phone messages. I was referred to her by Marcia Bailey, Division of Financial Regulation, as being someone who was hot on the case. However, after several months, I found out that my file set idle on her desk. The Attorney General's Office referred me to another agent, Joy Headly, at HUD. Try calling (202) 708-1515. I believe that is the correct number. Her office has been very diligent with returning calls.
Also, the Office of Commerce of the Currency has kept in CONSTANT contact with me by phone and by mail every step of the way.
The Federal Trade Commission only posts class actions suits on their websites. This case with ASC is in the investigation stages right now. However, if more complaints are filed; then this will be a class action case just like Fairbanks Capital Corporation. I already have my case number on file with the FTC.
Forget Ms. Norfleet----no she doesn't respond to phone messages. I was referred to her by Marcia Bailey, Division of Financial Regulation, as being someone who was hot on the case. However, after several months, I found out that my file set idle on her desk. The Attorney General's Office referred me to another agent, Joy Headly, at HUD. Try calling (202) 708-1515. I believe that is the correct number. Her office has been very diligent with returning calls.
Also, the Office of Commerce of the Currency has kept in CONSTANT contact with me by phone and by mail every step of the way.
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What's this? #78 Consumer Comment
if they screw with my payments I WILL initiate a class action lawsuit
AUTHOR: D - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I don't understand about all this fuss, why doesn't someone intiate a class action lawsuit and sue all of these mortage servicing companies that are ripping all of you and us off. They are not only stealing but they are messing up your credit history which is worth more than a late fee. I tell you what if they screw with my payments I WILL initiate a class action lawsuit. You can count on it...
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What's this? #79 Consumer Suggestion
I have a suggestion!!
AUTHOR: -W- - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I just came acrsoss a website msfraud.org. There was a good suggestion for people who have encounter probelms or think they might. Some of you may already be doing the first part, but keep reading!I think it will work! Here it is:
Documenting your payments. (Posted by Arky Girl)
First, go to your post office and get several "certified mail; return receipt requested" stickers. Most of you are already using certified mail anyway. Get twelve of them (one year's worth)and take them home in order to ease this process later.
Fix your envelope (use a small envelope rather than a business-sized envelope) showing your return address and your mortgage servicer as the addressee. Peel the tracking number from the left side of the sticker and place it in the appropriate box on the green card. Put your certified mail stickers on the envelope in the correct area. Fill out all information on the stub concerning where this piece of mail is going, but leave it attached to the sticky portion on the envelope.
Write your check.
Copy the envelope WITH STICKER AFFIXED (fold the stub out with it still attached and the servicer's name and address visible) AND your check onto one sheet of paper.
Mail your payment. The stub you receive at the Post Office will be dated...HANG ON TO IT AT ALL COSTS. This stub has your tracking number and proves mailing date. Put your stub with your copy (use a paperclip) and wait.
When you receive your signature card from the addressee in your mailbox, copy everything onto one sheet of paper. It is tight, but can be done if you have used the small envelope and don't have
business-size checks.
Now you have one sheet of paper that shows your check and the date it was written, the envelope proving that the article was truly mailed
to your servicer (the tracking numbers will match), a stub proving mailing date, and proof that the servicer received it.
Have it notarized. Most banks do this free as a courtesy to their customers.
Take this notarized sheet of paper to your courthouse and tell the court clerks that you want to enter it as an affidavit into public
record. There is usually a nominal per page fee (that is why you want to keep it on one page if at all possible). Ask for a copy of this after it has been stamped by the clerk and take it home with you.
Now you can do one of two things, depending on your situation.
If your servicer is doing a lousy job of recordkeeping (ha,ha) and hassling you night and day and you know that those payments are made, here is what to do.
Make a copy of your sheet showing all this info WITH the court clerk's stamp and mail this copy to your servicer with a letter of explanation. Tell them since they cannot seem to keep good records that you are going to help them out by having these payments recorded every month at the courthouse as public record.
Try to do this civilly (gag) as you do not want to antagonize them. You only want to make them aware of what you are doing.
Tell them if they have questions about your loan payment from now on that the information will be available from the courthouse. Give them the mailing address of the courthouse and a telephone number for the clerk's office and ask that they direct any future questions to the court clerks.
As always, keep copies of all correspondence, but this does not have to be mailed certified mail. Do this the first two or three months and then skip it thereafter. They should know by this point that you are serious. If they continue to
call you, keep referring them to the court clerk's office. That way the servicer can verify that your payment record is truly entered.
If you are not being tormented but still feel you need to protect yourself "just in case", simply keep your copy and skip the letter to the sevicer.
Put these copies into a notebook or folder of some sort and keep it current. Attach your cancelled check to your sheet of paper when you
get it (or a copy of your bank statement showing the check has cleared).
If your servicer begins returning payments, carefully open their envelope, read the letter, and return the letter and the returned check to the envelope. Mark this envelope #1 (assuming this is the first time this has happened). On the sheet of paper corresponding to the info about the mailing of that check, put #1 and a brief explanation of why the servicer returned your payment.
If it happens again, do the same thing, but mark it #2 and again match it with the correct mailing info and so on. This keeps everything correlated and in order. Make sure you leave both the letter and the returned check in the envelope. This also goes into your folder or notebook. ALWAYS keep the envelopes from servicer's mailings; sometimes dates are exremely important!
If the servicer tries to pull one of those sneak-attack foreclosures, you are armed and dangerous because your information was public record before theirs. If they are claiming that your payment six months ago was late or never received and you recorded that it was six months ago, well, gee, they will be embarrassed in court. Judges have to pay attention to public record.
If the servicer files any kind of legal proceedings, these affidavits will be the first thing to jump up and bite them because they are public record already.
This folder is also a powerful tool should you have to run to court to get an emergency injunction to stop a foreclosure. You will not have to dither about looking for records. It will all be there; proof of check number, proof of mailing date, proof of receipt. And anything
returned by the servicer for whatever BS reason they have for returning it.
You will have enough organized proof for any judge to be able to make a quick assessment and decision that you have indeed been mailing your mortgage payments. You will undoubtedly get your injunction.
Cancelled checks alone are no good as the servicer will simply claim that you did not mail it until the day your payment was due (or
after). They certainly will never admit that they "aged" the check in order to create bogus past due fees!
Anyone can write any date on a check, after all, and you need rock-solid evidence. Half the battle is to have clear, chronological records that prove beyond a doubt that you have made every effort in good faith to live up to your contract.
Then you cannot be held responsible for the servicer "aging" your payment and all that other nonsense they pull. Once you have mailed
your remittance in good time it is up to the servicer to get its work done in a timely manner.
Servicers are notorious for sending out BS letters claiming that you did not do this or that with "funny" dates on them. That is why they are so aware that dates can be fiddled with. If you are entering this information monthly, they will not have a leg to stand on in court. Your proof has already been filed.
Then there is the insurance scam that they like to pull. If this is an issue in your case, enter a copy of your private policy into public record as well to prove that you have always had insurance. It is a good idea to get a printout of some sort showing the history of your policy from your agent in order to show that you have been covered all along. Then just enter it twice a year or so to stay fairly current.
The servicer counts on making the borrower into a nervous wreck by pulling fast ones at the last minute. By doing this you should have all the ammunition necessary to take them on and win!
Since you have covered your bases already the servicer will then be forced to explain to the court how they bungled things up so badly. You have prepared a kick-butt offense, which will force THEM into the defensive posture instead of you being there. It is always better to be on the offensive in legal matters.
After following this procedure for two or three months you will get the feel for the flow of it and it will not seem so difficult. Once you find out the fee for entering the affidavit into the record, ask the clerks if you can mail it in monthly with the fee and a self-addressed stamped envelope for your copy to be sent back to you if getting to the courthouse is a problem.
If every soul being held in captivity by these servicers would do this, I do not think it would not be too long before a noticeable drop in
foreclosure rates would be noticed.
Judges tend to believe whatever these servicing companies say. Perhaps they cannot comprehend the lies and deceit these companies will engage in once you have been targeted. Perhaps they feel that large companies keep better records. Perhaps they buy into that "all our borrowers are deadbeats" mantra. Who knows.
After catching the servicers in a few attempts at fraud and perjury, this particular judge will now make them double prove everything! Nothing makes a judge more irate than being played for a fool in his/her own courtroom.
Eventually the judges, YOUR most powerful ally, will see that the deadbeat label the servicers glue on their borrowers is not always fact. We need to shift the entire judiciary's thinking processes; it will be slow, long and tedious, but enough people following this method can help bring that about.
I hope this helps some of you.
Believe me, this is the absolute best way of protecting yourself if you should become a target. The servicers will gnash their teeth if you are doing this and you will feel much more secure.
I am still looking into what constitutes a target. It seems to be a combination of ethnic issues and the desirability of your property for various types of development. Since no one yet knows, there is no way to predict who might become a target at this time. So, be prepared.
Even if you never have a problem, you will sleep better at night for the entire life of your mortgage!
Good luck!!
Documenting your payments. (Posted by Arky Girl)
First, go to your post office and get several "certified mail; return receipt requested" stickers. Most of you are already using certified mail anyway. Get twelve of them (one year's worth)and take them home in order to ease this process later.
Fix your envelope (use a small envelope rather than a business-sized envelope) showing your return address and your mortgage servicer as the addressee. Peel the tracking number from the left side of the sticker and place it in the appropriate box on the green card. Put your certified mail stickers on the envelope in the correct area. Fill out all information on the stub concerning where this piece of mail is going, but leave it attached to the sticky portion on the envelope.
Write your check.
Copy the envelope WITH STICKER AFFIXED (fold the stub out with it still attached and the servicer's name and address visible) AND your check onto one sheet of paper.
Mail your payment. The stub you receive at the Post Office will be dated...HANG ON TO IT AT ALL COSTS. This stub has your tracking number and proves mailing date. Put your stub with your copy (use a paperclip) and wait.
When you receive your signature card from the addressee in your mailbox, copy everything onto one sheet of paper. It is tight, but can be done if you have used the small envelope and don't have
business-size checks.
Now you have one sheet of paper that shows your check and the date it was written, the envelope proving that the article was truly mailed
to your servicer (the tracking numbers will match), a stub proving mailing date, and proof that the servicer received it.
Have it notarized. Most banks do this free as a courtesy to their customers.
Take this notarized sheet of paper to your courthouse and tell the court clerks that you want to enter it as an affidavit into public
record. There is usually a nominal per page fee (that is why you want to keep it on one page if at all possible). Ask for a copy of this after it has been stamped by the clerk and take it home with you.
Now you can do one of two things, depending on your situation.
If your servicer is doing a lousy job of recordkeeping (ha,ha) and hassling you night and day and you know that those payments are made, here is what to do.
Make a copy of your sheet showing all this info WITH the court clerk's stamp and mail this copy to your servicer with a letter of explanation. Tell them since they cannot seem to keep good records that you are going to help them out by having these payments recorded every month at the courthouse as public record.
Try to do this civilly (gag) as you do not want to antagonize them. You only want to make them aware of what you are doing.
Tell them if they have questions about your loan payment from now on that the information will be available from the courthouse. Give them the mailing address of the courthouse and a telephone number for the clerk's office and ask that they direct any future questions to the court clerks.
As always, keep copies of all correspondence, but this does not have to be mailed certified mail. Do this the first two or three months and then skip it thereafter. They should know by this point that you are serious. If they continue to
call you, keep referring them to the court clerk's office. That way the servicer can verify that your payment record is truly entered.
If you are not being tormented but still feel you need to protect yourself "just in case", simply keep your copy and skip the letter to the sevicer.
Put these copies into a notebook or folder of some sort and keep it current. Attach your cancelled check to your sheet of paper when you
get it (or a copy of your bank statement showing the check has cleared).
If your servicer begins returning payments, carefully open their envelope, read the letter, and return the letter and the returned check to the envelope. Mark this envelope #1 (assuming this is the first time this has happened). On the sheet of paper corresponding to the info about the mailing of that check, put #1 and a brief explanation of why the servicer returned your payment.
If it happens again, do the same thing, but mark it #2 and again match it with the correct mailing info and so on. This keeps everything correlated and in order. Make sure you leave both the letter and the returned check in the envelope. This also goes into your folder or notebook. ALWAYS keep the envelopes from servicer's mailings; sometimes dates are exremely important!
If the servicer tries to pull one of those sneak-attack foreclosures, you are armed and dangerous because your information was public record before theirs. If they are claiming that your payment six months ago was late or never received and you recorded that it was six months ago, well, gee, they will be embarrassed in court. Judges have to pay attention to public record.
If the servicer files any kind of legal proceedings, these affidavits will be the first thing to jump up and bite them because they are public record already.
This folder is also a powerful tool should you have to run to court to get an emergency injunction to stop a foreclosure. You will not have to dither about looking for records. It will all be there; proof of check number, proof of mailing date, proof of receipt. And anything
returned by the servicer for whatever BS reason they have for returning it.
You will have enough organized proof for any judge to be able to make a quick assessment and decision that you have indeed been mailing your mortgage payments. You will undoubtedly get your injunction.
Cancelled checks alone are no good as the servicer will simply claim that you did not mail it until the day your payment was due (or
after). They certainly will never admit that they "aged" the check in order to create bogus past due fees!
Anyone can write any date on a check, after all, and you need rock-solid evidence. Half the battle is to have clear, chronological records that prove beyond a doubt that you have made every effort in good faith to live up to your contract.
Then you cannot be held responsible for the servicer "aging" your payment and all that other nonsense they pull. Once you have mailed
your remittance in good time it is up to the servicer to get its work done in a timely manner.
Servicers are notorious for sending out BS letters claiming that you did not do this or that with "funny" dates on them. That is why they are so aware that dates can be fiddled with. If you are entering this information monthly, they will not have a leg to stand on in court. Your proof has already been filed.
Then there is the insurance scam that they like to pull. If this is an issue in your case, enter a copy of your private policy into public record as well to prove that you have always had insurance. It is a good idea to get a printout of some sort showing the history of your policy from your agent in order to show that you have been covered all along. Then just enter it twice a year or so to stay fairly current.
The servicer counts on making the borrower into a nervous wreck by pulling fast ones at the last minute. By doing this you should have all the ammunition necessary to take them on and win!
Since you have covered your bases already the servicer will then be forced to explain to the court how they bungled things up so badly. You have prepared a kick-butt offense, which will force THEM into the defensive posture instead of you being there. It is always better to be on the offensive in legal matters.
After following this procedure for two or three months you will get the feel for the flow of it and it will not seem so difficult. Once you find out the fee for entering the affidavit into the record, ask the clerks if you can mail it in monthly with the fee and a self-addressed stamped envelope for your copy to be sent back to you if getting to the courthouse is a problem.
If every soul being held in captivity by these servicers would do this, I do not think it would not be too long before a noticeable drop in
foreclosure rates would be noticed.
Judges tend to believe whatever these servicing companies say. Perhaps they cannot comprehend the lies and deceit these companies will engage in once you have been targeted. Perhaps they feel that large companies keep better records. Perhaps they buy into that "all our borrowers are deadbeats" mantra. Who knows.
After catching the servicers in a few attempts at fraud and perjury, this particular judge will now make them double prove everything! Nothing makes a judge more irate than being played for a fool in his/her own courtroom.
Eventually the judges, YOUR most powerful ally, will see that the deadbeat label the servicers glue on their borrowers is not always fact. We need to shift the entire judiciary's thinking processes; it will be slow, long and tedious, but enough people following this method can help bring that about.
I hope this helps some of you.
Believe me, this is the absolute best way of protecting yourself if you should become a target. The servicers will gnash their teeth if you are doing this and you will feel much more secure.
I am still looking into what constitutes a target. It seems to be a combination of ethnic issues and the desirability of your property for various types of development. Since no one yet knows, there is no way to predict who might become a target at this time. So, be prepared.
Even if you never have a problem, you will sleep better at night for the entire life of your mortgage!
Good luck!!
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What's this? #80 Consumer Comment
Nothing is adding up
AUTHOR: -g- - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I called the numbers you provided agin, there is nothing that they have. This just doesn't make any sense, I'm sorry that you are having problems but
The FTC does not have any case against ASC as you can view on their website.
When you say that they are under investigation are you referring to their investigation in regards to your complaint filed?
HUD has nothing in there system regarding this company either.
If you are having problems and if they are putting inaccurate information on your credit file you can send your proof to the reporting agencies to dispute it and have it corrected. Also, when you are looking to refinance you can give all your proof to the underwriters that your payments have always been made on time. Have you tried that?
I REALLY hope everything works out for you all, but something tell me there is more to it. Because I cannot get any information other than what is said on this website. It's very frustrating.
The FTC does not have any case against ASC as you can view on their website.
When you say that they are under investigation are you referring to their investigation in regards to your complaint filed?
HUD has nothing in there system regarding this company either.
If you are having problems and if they are putting inaccurate information on your credit file you can send your proof to the reporting agencies to dispute it and have it corrected. Also, when you are looking to refinance you can give all your proof to the underwriters that your payments have always been made on time. Have you tried that?
I REALLY hope everything works out for you all, but something tell me there is more to it. Because I cannot get any information other than what is said on this website. It's very frustrating.
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What's this?
I have contacted several agencies includung the department of corporation and the Dept of real estate. I've tried to contact HUD at the (202) number given, last week and they told me I cannot get any information unless I start having probelms and Eddy Norfleet never returned my call.
I will contact the others as well, Thank you.
I cannot file a complaint yet, my loan is not transferred yet.
WHO is investigating ASC?
I will contact the others as well, Thank you.
I cannot file a complaint yet, my loan is not transferred yet.
WHO is investigating ASC?
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What's this? #82 Consumer Suggestion
Contact These Agencies!
AUTHOR: C - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
HUD-(202) 708-1515/(202) 708-0685
Federal Trade Commission 1-(877) 382-4357
Office of Commerce of the Currency
1(800) 613-6743
and your local Attorney General's Office--you can file a Consumer Protection Complaint online.
Federal Trade Commission 1-(877) 382-4357
Office of Commerce of the Currency
1(800) 613-6743
and your local Attorney General's Office--you can file a Consumer Protection Complaint online.
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What's this? #83 Consumer Comment
Regarding second posting on this site
AUTHOR: -g - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
C- in Bowie stated that this Company is under investigation. Where did you get that information and who is investigating them? I tried several attempts to get any information, but was unable to find anything.
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What's this? #84 Consumer Comment
Regarding second posting on this site
AUTHOR: -g - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
C- in Bowie stated that this Company is under investigation. Where did you get that information and who is investigating them? I tried several attempts to get any information, but was unable to find anything.
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What's this? #85 Consumer Comment
Regarding second posting on this site
AUTHOR: -g - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
C- in Bowie stated that this Company is under investigation. Where did you get that information and who is investigating them? I tried several attempts to get any information, but was unable to find anything.
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What's this? #86 Consumer Comment
Regarding second posting on this site
AUTHOR: -g - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
C- in Bowie stated that this Company is under investigation. Where did you get that information and who is investigating them? I tried several attempts to get any information, but was unable to find anything.
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What's this? #87 Consumer Suggestion
I have a loan with ASC
AUTHOR: Heather - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
Option One also sold my loan to ASC as of October 1st. Every payment that I sent was posted 3 weeks later. Thanks to reading this web site, I am refinancing with another company immediately and I don't care if there is a prepay penalty. Thanks again, I feel that the late posting of my payments is just the beginning of many problems ahead.
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What's this? #88 Consumer Comment
Things have been fine here
AUTHOR: Grace - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I had my mortgage sold to America's Servicing Company about 4 months after my husband and I bought our home. We have had them now for over a year and have never had any problems with this company.
When we first received notification that our loan was being sold we were of course nervous about the transition. Our original mortgage company sent us a letter explaining who would have the loan with the Name, Phone # and address of company. (There was no loan #)
I manage a bank for a living and I hear all of the horror stories regarding this kind of stuff. I was very nervous about it so I immediatly called ASC. They were very helpful and told me exactly what I needed to do. I did what they told me and everything went through fine.
I have never had a problem with ASC. Anytime I have had to deal with them they have been nothing but nice and helpful to my family and I.
I am truly sorry to hear about the other people's problems with them. I am sure it was quite difficult to deal with. When it comes to your home it is very hard to remain level headed. In the future I would recommend that everyone who has a loan sold follow up immediatly, so as not to have a horror story to tell.
Note: There is an old saying...
There are two sides to every story and then there is the TRUTH.
Good Luck to all of you. :)
When we first received notification that our loan was being sold we were of course nervous about the transition. Our original mortgage company sent us a letter explaining who would have the loan with the Name, Phone # and address of company. (There was no loan #)
I manage a bank for a living and I hear all of the horror stories regarding this kind of stuff. I was very nervous about it so I immediatly called ASC. They were very helpful and told me exactly what I needed to do. I did what they told me and everything went through fine.
I have never had a problem with ASC. Anytime I have had to deal with them they have been nothing but nice and helpful to my family and I.
I am truly sorry to hear about the other people's problems with them. I am sure it was quite difficult to deal with. When it comes to your home it is very hard to remain level headed. In the future I would recommend that everyone who has a loan sold follow up immediatly, so as not to have a horror story to tell.
Note: There is an old saying...
There are two sides to every story and then there is the TRUTH.
Good Luck to all of you. :)
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What's this? #89 Consumer Suggestion
America's Servicing Company=Fairbanks Capital Corporation
AUTHOR: C. - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
Anyone that has anything positive to say about America's Servicing Company is obviously someone who works for the company. This nightmare started for me in December of 2003, and is ongoing. I ALWAYS send my payments by certified checks. According to the USPS tracking locater, all payments have been received within 1 or 2 days of the mailing. However, ASC consistently hold payments for over 2 weeks, and post my account on the 16th of the month in order to charge late fees. Oh yeah, the suggestion of mailing the payments to the Greenbelt location---forget it!!!! I have mailed it to the Greenbelt location, and guess what---my payment posted on the 16th of the month, and again, I was charged a late fee. I will do you one better---I live approximately 11 minutes for the Greenbelt location---so I hand delivered my July 1st payment on June 29, 2004--and the payment posted July 16th, and another late fee. The company consistently reports fradulent negative activity on my credit files, and the phone number that the company provides to the credit bureau agencies belong to someone named "Mike." I was told by my contact from ASC that the identification number to enter into their website DOES NOT EXIST. I even tried to get one as late as November 2004, and was told that "identification numbers have not been released because the website is not finished yet". BEWARE OF FAKE POSTERS!
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What's this? #90 Consumer Comment
Novastar, give me a break!
AUTHOR: Gary - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
It's nice to see that Glenn has used this site as a place for free advertisement of his company, but let me tell you, Novastar is no better then most loan servicing companies. I have been a mortgage broker for 12 + years and used Novastar for a couple of years as an investor to sell my mortgages to. As with any company I have dealt with, many of my clients are repeat customers and I ask for their feedback with the companies that end up servicing their loan. If these people have been shafted, then I usually stop selling my mortgages to them. That's the companies loss, not mine as I deal with over 200 plus investors and can always go with another one that will treat the customer right. Don't get me wrong, there is no perfect company, things happen, and unfortunately, it gets passed on to the consumer in most cases, but Novastar is certainly not the exception to the rule that Glenn portrays them to be. Buyer beware, educate yourself as much as you can before you conduct a transaction, and check reputable websites like bankrate.com. They have a ton of useful information to help you in the purchase/refinance of a home. Just my .02 cents worth.
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What's this? #91 Consumer Suggestion
Pleas Read....This could save you $$
AUTHOR: Glenn - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
It has been by experience that when dealing with these types of companies that one thing can be sure....they do not care. They will make there money one way or another. It is up to you the client involved to make sure that this does not happen to you. Whether you want it to or not, whether by refinancing with the company, or being sold on the second market.I have successfully gotten clients into a better situation and but them back into the situations they were in before. But there are some steps that you need to following in order to get away. 1. Make sure you have proof of payments. Cancelled checks or for that matter money order receipts are fine. Bank statements are fool proof.
2. Make sure when (and if) you get to speak to a live indidvidual that you get there full name and there extension or employee number. Something to identify them. This way when they lie and you know they will you can say " Well Tom Thumb at extension 22783 told me...." This always makes them spin in the mud.
I am not trying to get you to do anything. If you are fine where you are and like losing sleep at night worrying about losing your home...be my quest. However, if you are ready to get with a company that has proven to be a leader in the industry give me a call at 1-877-598-1426 at extension 2521. If you want to know more about the comany I am part off and soon you will be as well check us out at www.novastarmortgage.com. You will be glad you did! Thank you. Sincerly Glenn E. Fleureton
2. Make sure when (and if) you get to speak to a live indidvidual that you get there full name and there extension or employee number. Something to identify them. This way when they lie and you know they will you can say " Well Tom Thumb at extension 22783 told me...." This always makes them spin in the mud.
I am not trying to get you to do anything. If you are fine where you are and like losing sleep at night worrying about losing your home...be my quest. However, if you are ready to get with a company that has proven to be a leader in the industry give me a call at 1-877-598-1426 at extension 2521. If you want to know more about the comany I am part off and soon you will be as well check us out at www.novastarmortgage.com. You will be glad you did! Thank you. Sincerly Glenn E. Fleureton
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What's this? #92 REBUTTAL Individual responds
America's Servicing Company ....... New Customer as of Feb 2005
AUTHOR: Liza - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I have just recently been notified by my mortgage company Ameriquest that my loan has been sold to America's Servicing Company as of Februaury 2005. I decided to do some research on Goggle on ASC and it immediately put me here. I have read the posts about this company and I am VERY VERY concerned about what I have been reading but I would also like to ask these people what they might have done differently to assure that these things wouldn't happen again. I'm very sorry for all the problems you all have been having with this company but I would like to ask for your hindsight on what I might do to make sure these things don't happen to me.
Thanx in Advance..........
Thanx in Advance..........
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What's this? #93 REBUTTAL Individual responds
America's Servicing Company ....... New Customer as of Feb 2005
AUTHOR: Liza - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I have just recently been notified by my mortgage company Ameriquest that my loan has been sold to America's Servicing Company as of Februaury 2005. I decided to do some research on Goggle on ASC and it immediately put me here. I have read the posts about this company and I am VERY VERY concerned about what I have been reading but I would also like to ask these people what they might have done differently to assure that these things wouldn't happen again. I'm very sorry for all the problems you all have been having with this company but I would like to ask for your hindsight on what I might do to make sure these things don't happen to me.
Thanx in Advance..........
Thanx in Advance..........
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What's this? #94 Consumer Suggestion
Sending in a payment - beware
AUTHOR: Dan - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
I recommend if you do decide to send a payment, to send it REGISTERED MAIL with a return receipt.
If they claim to have 'lost' your payment, you will have proof they received it. Also, when the check clears, you will have that for a receipt, so do not send a money order.
Unfortunately, there are dishonest people all over this business. BEWARE! I should know, I am a mortgage broker and I have to save some of these deals.
Good luck,
Dan the Mortgage Man
If they claim to have 'lost' your payment, you will have proof they received it. Also, when the check clears, you will have that for a receipt, so do not send a money order.
Unfortunately, there are dishonest people all over this business. BEWARE! I should know, I am a mortgage broker and I have to save some of these deals.
Good luck,
Dan the Mortgage Man
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What's this?
My 2 year old loan was also sold to ASC around April.
I immediately set up an account at my bank that I deposit my mortgage payment into and arranged with ASC to electronically transfer the mony on the first of every month from that account to my loan acount.
they did exactly what I requested, and I have never had any problems. I do not suggest that it is wise.. ever ..to electronically transfer mortgage payments from a standard checking or saving acccount, I recommend setting up a seperate account that only (to the penny if possible) recieves a deposit once a month to cover the payments. This protects other money from any possible mistakes. The amounts, dates, deposits and electronic withdrawls are immediate and completely traceable and proovable.
Fairbanks found itself under congressional investigation, and I doubt that ASC would want to follow in thoses footsteps even to get your house.
It is always imortant to monitor closely (actually monthly) how things are going...if a problem is not noticed until 60 or 90 days or so, it may difficult or even next to impossible to recover. Hopefully they will (as they have told me) have a website up and running in January to assist in this effort.
I Hope everyones future experiences are as reliable and that folks take the time to closely monior their financial arrangements.
I immediately set up an account at my bank that I deposit my mortgage payment into and arranged with ASC to electronically transfer the mony on the first of every month from that account to my loan acount.
they did exactly what I requested, and I have never had any problems. I do not suggest that it is wise.. ever ..to electronically transfer mortgage payments from a standard checking or saving acccount, I recommend setting up a seperate account that only (to the penny if possible) recieves a deposit once a month to cover the payments. This protects other money from any possible mistakes. The amounts, dates, deposits and electronic withdrawls are immediate and completely traceable and proovable.
Fairbanks found itself under congressional investigation, and I doubt that ASC would want to follow in thoses footsteps even to get your house.
It is always imortant to monitor closely (actually monthly) how things are going...if a problem is not noticed until 60 or 90 days or so, it may difficult or even next to impossible to recover. Hopefully they will (as they have told me) have a website up and running in January to assist in this effort.
I Hope everyones future experiences are as reliable and that folks take the time to closely monior their financial arrangements.
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What's this? #96 Consumer Comment
Lack of Communication
AUTHOR: Nawnee - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
My mortgage was sold to ASC also, but I did not find it so difficult to change. I did not receive a letter or statement either, but it is a law that your mortgager is supposed to send you notice of sale with contact information for the company that the mortgage is sold to (which mine did)and that within 15 days of the transfer date you should receive a letter from the new mortgager.
When I did not receive a payment book or letter I simply used the contact info provided by my mortager to contact ASC and request a payment coupon. I was told to write my old account number on the payment check and send it in, and that no late fees would be applied within the first month after the transfer. After sending that in they sent the payment coupon and other info that I requested and things have been fine.
I have different contact info than what has been shown on different entries so I will list it in case it will help anyone else.
Phone 1(800)662-5014 FAX 1(301)815-6587 M-F 8:00 am - 6:00 pm (EST)
Regular mail payments:
PO Box 60768
Los Angeles, CA 90060-0768
OVERNIGHT PAYMENTS:
7833 Walker Drive
Suite 300
Greenbelt, MD 20770
Good Luck with your future efforts.
When I did not receive a payment book or letter I simply used the contact info provided by my mortager to contact ASC and request a payment coupon. I was told to write my old account number on the payment check and send it in, and that no late fees would be applied within the first month after the transfer. After sending that in they sent the payment coupon and other info that I requested and things have been fine.
I have different contact info than what has been shown on different entries so I will list it in case it will help anyone else.
Phone 1(800)662-5014 FAX 1(301)815-6587 M-F 8:00 am - 6:00 pm (EST)
Regular mail payments:
PO Box 60768
Los Angeles, CA 90060-0768
OVERNIGHT PAYMENTS:
7833 Walker Drive
Suite 300
Greenbelt, MD 20770
Good Luck with your future efforts.
Respond to this report!
What's this? #97 Consumer Suggestion
America's Servicing Company=Fairbanks Capital Corporation
AUTHOR: -C. - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
You are only in phase 1---
Phase 2 consist of never having receiving your final payments from your previous loan servicer.
Phase 3-you are in default of your loan. You must pay all monies that were mysteriously lost during your transfer, and late fees for those payments, and late fees for payments not received after the loan was transferred. It does not matter if you don't have a loan number--welcome confirmation letter-payment coupon book. In any case, if you were to get someone on the phone, they would tell you that they don't have all your loan document paperwork--Therefore, hold all payments.
Do you see the picture------they are not interested in servicing your loan---they want your house. My guess is that your house, like mine, has increased considerably in value.
BE AWARE. This company is currently under investigation. There is some connection between this company and Fairbanks Capital Corporation. This is why they don't have a website. Their very insignificant webpage suddenly appeared a few months ago with a copyright date of (2002). This is no accident.
Phase 4- No documents can be located in reference to your home insurance--Therefore, we were forced to insure your house, and the cost to you is $4,970. Therefore, we are increasing your monthly note by $415.00 per month.
Phase 5 - Suddenly your credit report reads: Foreclosure has begun---and in the previous months it reads R1.
Phase 6- Foreclosure documents arrive from their attorney, which coincidentally only handles loans from Fairbanks Capital Corporation and America's Servicing Company.
Contact Eddy Norfleet at THE OFFICE OF THRIFT SUPERVISION at (202) 708-0502, or you will be reliving my nightmare, and so many others. Also, contact The Federal Trade Commission, and The Attorney General's Office.
Phase 2 consist of never having receiving your final payments from your previous loan servicer.
Phase 3-you are in default of your loan. You must pay all monies that were mysteriously lost during your transfer, and late fees for those payments, and late fees for payments not received after the loan was transferred. It does not matter if you don't have a loan number--welcome confirmation letter-payment coupon book. In any case, if you were to get someone on the phone, they would tell you that they don't have all your loan document paperwork--Therefore, hold all payments.
Do you see the picture------they are not interested in servicing your loan---they want your house. My guess is that your house, like mine, has increased considerably in value.
BE AWARE. This company is currently under investigation. There is some connection between this company and Fairbanks Capital Corporation. This is why they don't have a website. Their very insignificant webpage suddenly appeared a few months ago with a copyright date of (2002). This is no accident.
Phase 4- No documents can be located in reference to your home insurance--Therefore, we were forced to insure your house, and the cost to you is $4,970. Therefore, we are increasing your monthly note by $415.00 per month.
Phase 5 - Suddenly your credit report reads: Foreclosure has begun---and in the previous months it reads R1.
Phase 6- Foreclosure documents arrive from their attorney, which coincidentally only handles loans from Fairbanks Capital Corporation and America's Servicing Company.
Contact Eddy Norfleet at THE OFFICE OF THRIFT SUPERVISION at (202) 708-0502, or you will be reliving my nightmare, and so many others. Also, contact The Federal Trade Commission, and The Attorney General's Office.
Respond to this report!
What's this? #98 Consumer Suggestion
America's Servicing Company=Fairbanks Capital Corporation
AUTHOR: -C. - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
You are only in phase 1---
Phase 2 consist of never having receiving your final payments from your previous loan servicer.
Phase 3-you are in default of your loan. You must pay all monies that were mysteriously lost during your transfer, and late fees for those payments, and late fees for payments not received after the loan was transferred. It does not matter if you don't have a loan number--welcome confirmation letter-payment coupon book. In any case, if you were to get someone on the phone, they would tell you that they don't have all your loan document paperwork--Therefore, hold all payments.
Do you see the picture------they are not interested in servicing your loan---they want your house. My guess is that your house, like mine, has increased considerably in value.
BE AWARE. This company is currently under investigation. There is some connection between this company and Fairbanks Capital Corporation. This is why they don't have a website. Their very insignificant webpage suddenly appeared a few months ago with a copyright date of (2002). This is no accident.
Phase 4- No documents can be located in reference to your home insurance--Therefore, we were forced to insure your house, and the cost to you is $4,970. Therefore, we are increasing your monthly note by $415.00 per month.
Phase 5 - Suddenly your credit report reads: Foreclosure has begun---and in the previous months it reads R1.
Phase 6- Foreclosure documents arrive from their attorney, which coincidentally only handles loans from Fairbanks Capital Corporation and America's Servicing Company.
Contact Eddy Norfleet at THE OFFICE OF THRIFT SUPERVISION at (202) 708-0502, or you will be reliving my nightmare, and so many others. Also, contact The Federal Trade Commission, and The Attorney General's Office.
Phase 2 consist of never having receiving your final payments from your previous loan servicer.
Phase 3-you are in default of your loan. You must pay all monies that were mysteriously lost during your transfer, and late fees for those payments, and late fees for payments not received after the loan was transferred. It does not matter if you don't have a loan number--welcome confirmation letter-payment coupon book. In any case, if you were to get someone on the phone, they would tell you that they don't have all your loan document paperwork--Therefore, hold all payments.
Do you see the picture------they are not interested in servicing your loan---they want your house. My guess is that your house, like mine, has increased considerably in value.
BE AWARE. This company is currently under investigation. There is some connection between this company and Fairbanks Capital Corporation. This is why they don't have a website. Their very insignificant webpage suddenly appeared a few months ago with a copyright date of (2002). This is no accident.
Phase 4- No documents can be located in reference to your home insurance--Therefore, we were forced to insure your house, and the cost to you is $4,970. Therefore, we are increasing your monthly note by $415.00 per month.
Phase 5 - Suddenly your credit report reads: Foreclosure has begun---and in the previous months it reads R1.
Phase 6- Foreclosure documents arrive from their attorney, which coincidentally only handles loans from Fairbanks Capital Corporation and America's Servicing Company.
Contact Eddy Norfleet at THE OFFICE OF THRIFT SUPERVISION at (202) 708-0502, or you will be reliving my nightmare, and so many others. Also, contact The Federal Trade Commission, and The Attorney General's Office.
Respond to this report!
What's this? #99 Consumer Suggestion
America's Servicing Company=Fairbanks Capital Corporation
AUTHOR: -C. - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
You are only in phase 1---
Phase 2 consist of never having receiving your final payments from your previous loan servicer.
Phase 3-you are in default of your loan. You must pay all monies that were mysteriously lost during your transfer, and late fees for those payments, and late fees for payments not received after the loan was transferred. It does not matter if you don't have a loan number--welcome confirmation letter-payment coupon book. In any case, if you were to get someone on the phone, they would tell you that they don't have all your loan document paperwork--Therefore, hold all payments.
Do you see the picture------they are not interested in servicing your loan---they want your house. My guess is that your house, like mine, has increased considerably in value.
BE AWARE. This company is currently under investigation. There is some connection between this company and Fairbanks Capital Corporation. This is why they don't have a website. Their very insignificant webpage suddenly appeared a few months ago with a copyright date of (2002). This is no accident.
Phase 4- No documents can be located in reference to your home insurance--Therefore, we were forced to insure your house, and the cost to you is $4,970. Therefore, we are increasing your monthly note by $415.00 per month.
Phase 5 - Suddenly your credit report reads: Foreclosure has begun---and in the previous months it reads R1.
Phase 6- Foreclosure documents arrive from their attorney, which coincidentally only handles loans from Fairbanks Capital Corporation and America's Servicing Company.
Contact Eddy Norfleet at THE OFFICE OF THRIFT SUPERVISION at (202) 708-0502, or you will be reliving my nightmare, and so many others. Also, contact The Federal Trade Commission, and The Attorney General's Office.
Phase 2 consist of never having receiving your final payments from your previous loan servicer.
Phase 3-you are in default of your loan. You must pay all monies that were mysteriously lost during your transfer, and late fees for those payments, and late fees for payments not received after the loan was transferred. It does not matter if you don't have a loan number--welcome confirmation letter-payment coupon book. In any case, if you were to get someone on the phone, they would tell you that they don't have all your loan document paperwork--Therefore, hold all payments.
Do you see the picture------they are not interested in servicing your loan---they want your house. My guess is that your house, like mine, has increased considerably in value.
BE AWARE. This company is currently under investigation. There is some connection between this company and Fairbanks Capital Corporation. This is why they don't have a website. Their very insignificant webpage suddenly appeared a few months ago with a copyright date of (2002). This is no accident.
Phase 4- No documents can be located in reference to your home insurance--Therefore, we were forced to insure your house, and the cost to you is $4,970. Therefore, we are increasing your monthly note by $415.00 per month.
Phase 5 - Suddenly your credit report reads: Foreclosure has begun---and in the previous months it reads R1.
Phase 6- Foreclosure documents arrive from their attorney, which coincidentally only handles loans from Fairbanks Capital Corporation and America's Servicing Company.
Contact Eddy Norfleet at THE OFFICE OF THRIFT SUPERVISION at (202) 708-0502, or you will be reliving my nightmare, and so many others. Also, contact The Federal Trade Commission, and The Attorney General's Office.
Respond to this report!
What's this? #100 Consumer Suggestion
America's Servicing Company=Fairbanks Capital Corporation
AUTHOR: -C. - (U.S.A.)
SUBMITTED: Thursday, January 27, 2005
You are only in phase 1---
Phase 2 consist of never having receiving your final payments from your previous loan servicer.
Phase 3-you are in default of your loan. You must pay all monies that were mysteriously lost during your transfer, and late fees for those payments, and late fees for payments not received after the loan was transferred. It does not matter if you don't have a loan number--welcome confirmation letter-payment coupon book. In any case, if you were to get someone on the phone, they would tell you that they don't have all your loan document paperwork--Therefore, hold all payments.
Do you see the picture------they are not interested in servicing your loan---they want your house. My guess is that your house, like mine, has increased considerably in value.
BE AWARE. This company is currently under investigation. There is some connection between this company and Fairbanks Capital Corporation. This is why they don't have a website. Their very insignificant webpage suddenly appeared a few months ago with a copyright date of (2002). This is no accident.
Phase 4- No documents can be located in reference to your home insurance--Therefore, we were forced to insure your house, and the cost to you is $4,970. Therefore, we are increasing your monthly note by $415.00 per month.
Phase 5 - Suddenly your credit report reads: Foreclosure has begun---and in the previous months it reads R1.
Phase 6- Foreclosure documents arrive from their attorney, which coincidentally only handles loans from Fairbanks Capital Corporation and America's Servicing Company.
Contact Eddy Norfleet at THE OFFICE OF THRIFT SUPERVISION at (202) 708-0502, or you will be reliving my nightmare, and so many others. Also, contact The Federal Trade Commission, and The Attorney General's Office.
Phase 2 consist of never having receiving your final payments from your previous loan servicer.
Phase 3-you are in default of your loan. You must pay all monies that were mysteriously lost during your transfer, and late fees for those payments, and late fees for payments not received after the loan was transferred. It does not matter if you don't have a loan number--welcome confirmation letter-payment coupon book. In any case, if you were to get someone on the phone, they would tell you that they don't have all your loan document paperwork--Therefore, hold all payments.
Do you see the picture------they are not interested in servicing your loan---they want your house. My guess is that your house, like mine, has increased considerably in value.
BE AWARE. This company is currently under investigation. There is some connection between this company and Fairbanks Capital Corporation. This is why they don't have a website. Their very insignificant webpage suddenly appeared a few months ago with a copyright date of (2002). This is no accident.
Phase 4- No documents can be located in reference to your home insurance--Therefore, we were forced to insure your house, and the cost to you is $4,970. Therefore, we are increasing your monthly note by $415.00 per month.
Phase 5 - Suddenly your credit report reads: Foreclosure has begun---and in the previous months it reads R1.
Phase 6- Foreclosure documents arrive from their attorney, which coincidentally only handles loans from Fairbanks Capital Corporation and America's Servicing Company.
Contact Eddy Norfleet at THE OFFICE OF THRIFT SUPERVISION at (202) 708-0502, or you will be reliving my nightmare, and so many others. Also, contact The Federal Trade Commission, and The Attorney General's Office.
Respond to this report!
What's this? 
