- Report: #548112
Complaint Review: Concesco Green Tree Mortagage Comp.
| Concesco Green Tree Mortagage Comp. PO Box 6172
Rapid City, South Dakota United States of America |
|
Concesco Green Tree Mortagage Comp. Green Tree bought my loan which was set up for automatic payments for the last four years but did not contact me about the change and did not accept payments because they created a new account number. Rapid City, South Dakota
*General Comment: This sounds like a RESPA violation
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This report was posted on Ripoff Report on 12/31/2009 12:21 PM and is a permanent record located here: http://www.ripoffreport.com/r/Concesco-Green-Tree-Mortagage-Comp/Rapid-City-South-Dakota-57709/Concesco-Green-Tree-Mortagage-Comp-Green-Tree-bought-my-loan-which-was-set-up-for-automa-548112. 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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Search Tips#1 General Comment
This sounds like a RESPA violation
AUTHOR: MovingForward - (United States of America)
SUBMITTED: Saturday, January 02, 2010
Many people are not aware that lenders can sell your loan and keep the servicing or sell the servicing and keep the loan, or sell both the servicing and the loan. In any event, it is required by RESPA for both the selling entity and the purchasing entity to notify you in writing of the sale. It sounds like that did not happen. Also, the new lender is not allowed to report any lates within 60 days of the sale because of these type of issues.
Green Tree does not have a good reputation anyway, for cooperation. If it were me, I would contact a NACA attorney and sue them for the RESPA violations, there could be substantial penalties due to you from this new servicer. You may want to google RESPA violations just so you have an idea of what information will be needed to be provided to the attorney. Don't let this one go...it is a huge violation.

