• Report: #399024

Complaint Review: Aurora Loan Servicing

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  • Submitted: Mon, December 08, 2008
  • Updated: Wed, June 24, 2009

  • Reported By:Anytown Florida
Aurora Loan Servicing
10350 Park Meadows Drive Littleton, Colorado U.S.A.

Aurora Loan Servicing Deceptive Loan Servicing and violation of the Office of Assistant Secretary for Housing, HUD Paragraph 201.41 and Paragraph 201.50 (Lender efforts to cure the default) Littleton Colorado

*Consumer Suggestion: File a report with OTC - this is Federal Agency They are help me.

*Consumer Comment: very good research

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I too am a victim of Aurora's deceptive loan servicing practices. If you are in default I urge to research the Paragraphs I quoted under the Secretary of Housing, HUD Rules and Regulations. This company is know as a "Lender Predator". My escrows were over charge as well and I had two Home Insurance Polices on my account, the lender enforced one totaling 3,000 per year and my personal policy which was 1,500 per year.

Another scheme used by Aurora is to add insurance and other unnecessary products to the total loan amount. They convince borrowers to buy into these different insurances by insisting or intimidating. These insurances they force include regular mortgage insurance, fire and hazard insurance, life insurance, disability insurance, homeowner's insurance and health insurance. The insurance isn't offered only to the borrower but can include family members. Most times, the premiums for these policies are added on to the loan amount, where the cost is not easily depicted by the borrower. And, when all is said and done, these lender make huge commissions each year on each paid policy, and this varies when three to five years of premiums are paid in advance.

I was behind in my payments due to my escrow account increasing to $582.00 per month. When I contaced Aurora they would not work with me accept partial payment and MOST IMPORTANTLY they refused to supply me with an accounting of my escrow account. I am in the process of foreclosure my hearing is this Month and I plan to have them held accountable for their unfair lending practices. Aurora worked out a repayment plan with me on February 15th and stated the payment plans terms and conditions would be faxed to me in 5 days. The payment plan was finally recevied at my place of employment February 29th at 9:25am and I was serviced the Lis Pendens at 8:35 am at my place of residence on the same day. Please explore your state and Federal Laws and do not let this company walk all over you!

Anonymous
Anytown, Florida
U.S.A.

This report was posted on Ripoff Report on 12/08/2008 07:28 AM and is a permanent record located here: http://www.ripoffreport.com/r/Aurora-Loan-Servicing/Littleton-Colorado-80124/Aurora-Loan-Servicing-Deceptive-Loan-Servicing-and-violation-of-the-Office-of-Assistant-Se-399024. 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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#1 Consumer Suggestion

File a report with OTC - this is Federal Agency They are help me.

AUTHOR: Dsbsmom - (U.S.A.)

Thanks for your correspondence regarding Aurora Bank. OTS is primary regulator of Aurora. We need a signed complaint in order to address your concerns. You may print your email, sign it and either fax the signed email to the OTS at (202) 906-7342, or mail it to:
Office of Thrift Supervision
Consumer Response Division
1700 G Street, NW
Washington, D.C. 20552
Instead of signing and forwarding a copy of your email, you may complete the complaint form attached or located on our website at www.ots.treas.gov. You may also include copies of supporting documents with your complaint. As soon as a signed email or a signed complaint form is received we will initiate a review of your complaint.

If you have any questions, you may contact the Office of Thrift Supervision at (800) 842-6929.
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#2 Consumer Comment

very good research

AUTHOR: Chris - (U.S.A.)

this is very good info. all needs to read these codes very carefully, I don't think one lender of servicer out there abide by these they are 24 CFR 201.41 and 24 CFR 201.50, very powerful stuff, GREAT JOB!!!!
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