Aurora Loan Services using Predatory Lending Tactics, information for filing class action lawsuit in this post Ripoff Scottsbluff Nebraska

If anyone has any information on investigatation about Aurora or a class action suit and who to contact please email me

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I want to participate.

Thanks!

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I was just wondering if there were any updates as far as the FTC and such are concerned...have more people complained to them, are we close to getting them investigated? These people are ruthless and just don't care about what actually happens to their clients. I'd hate to work for this company! I'd love to be a part of getting them shut down!!! Please update when possible, Thank you! Skipper

I completely agree that borrowers have a responsibility. What you neglect to understand, circumstances beyond our control happens. Is it safe to assume that you haven't lost your house because you have been so fortunate? Don't be so quick to judge. Perhaps, people like you can afford to have lawyers review documents and there are people that doesn't have the priviledge.

Aurora is not an innocent party here. Take a very good look at the complaints... Don't you see the same complaints?

The only common thing I see here is the ignorance of homeowners who want to blame their inability to comprehend what is happening with their loan on someone else...mainly Aurora Loan Services. I have spent hours and hours trying to explain to people the details of their loan....something a homeowner should be responsible for.

I have heard "but I didn't understand"..or "that's not what they said" or "I didn't know my interest rate wasn't fixed" or "I knew my interest rate would change but I didn't know it could go this high".

READ THE PAPERS BEFORE YOU SIGN THEM. If they don't make sense have an attorney go over them with you. Lehman Brothers have been around for 150 years...how many others have been? Just because you don't get the answer you want doesn't mean they are using "predatory lending tactics".I agree some of the loans out there today are not good choices for some people.

However, bottom line, you are responsible for understanding or finding a way for loan to be explained so all terms of note are understood. It is a legal document. Don't take it lightly.

The only common thing I see here is the ignorance of homeowners who want to blame their inability to comprehend what is happening with their loan on someone else...mainly Aurora Loan Services. I have spent hours and hours trying to explain to people the details of their loan....something a homeowner should be responsible for.

I have heard "but I didn't understand"..or "that's not what they said" or "I didn't know my interest rate wasn't fixed" or "I knew my interest rate would change but I didn't know it could go this high".

READ THE PAPERS BEFORE YOU SIGN THEM. If they don't make sense have an attorney go over them with you. Lehman Brothers have been around for 150 years...how many others have been? Just because you don't get the answer you want doesn't mean they are using "predatory lending tactics".I agree some of the loans out there today are not good choices for some people.

However, bottom line, you are responsible for understanding or finding a way for loan to be explained so all terms of note are understood. It is a legal document. Don't take it lightly.

The only common thing I see here is the ignorance of homeowners who want to blame their inability to comprehend what is happening with their loan on someone else...mainly Aurora Loan Services. I have spent hours and hours trying to explain to people the details of their loan....something a homeowner should be responsible for.

I have heard "but I didn't understand"..or "that's not what they said" or "I didn't know my interest rate wasn't fixed" or "I knew my interest rate would change but I didn't know it could go this high".

READ THE PAPERS BEFORE YOU SIGN THEM. If they don't make sense have an attorney go over them with you. Lehman Brothers have been around for 150 years...how many others have been? Just because you don't get the answer you want doesn't mean they are using "predatory lending tactics".I agree some of the loans out there today are not good choices for some people.

However, bottom line, you are responsible for understanding or finding a way for loan to be explained so all terms of note are understood. It is a legal document. Don't take it lightly.

The only common thing I see here is the ignorance of homeowners who want to blame their inability to comprehend what is happening with their loan on someone else...mainly Aurora Loan Services. I have spent hours and hours trying to explain to people the details of their loan....something a homeowner should be responsible for.

I have heard "but I didn't understand"..or "that's not what they said" or "I didn't know my interest rate wasn't fixed" or "I knew my interest rate would change but I didn't know it could go this high".

READ THE PAPERS BEFORE YOU SIGN THEM. If they don't make sense have an attorney go over them with you. Lehman Brothers have been around for 150 years...how many others have been? Just because you don't get the answer you want doesn't mean they are using "predatory lending tactics".I agree some of the loans out there today are not good choices for some people.

However, bottom line, you are responsible for understanding or finding a way for loan to be explained so all terms of note are understood. It is a legal document. Don't take it lightly.

Here is a little update since I posted the previous thread. We had sent numberous payments after we both found work to try and catch up the defaulted amount and "work" with ALS. Funny thing though, they either "lost" our payment or we received it returned and then a subsequent letter would come within a week later stating we were in default... AGAIN. I would call the "customer service rep" in the defaults department to get his voicemail and never a return call during the hours I specified, even though I *know* they work saturdays because numerous saturdays at 7:30am cst I would get disturbing phone calls waking me out of a sound sleep just to remind me I was in default and I would try to talk to them about all I needed to in order to try and work out some way to get caught up to be reminded I had to speak with someone else in the defaults area! UNREAL!

They force me to file a chapter 7 and I LOST EVERYTHING and to this day are trying to claim it was not included in that chapter 7! THEY DID NOT WORK *WITH* ME nor are they giving me the $7500 they owe me from the Law in the State of Illinois and although I see movement and folks walking around my condo they stole from me because of this, but are refusing to talk to my attorney to find out if it was sold or not! A condo now work in excess of 500,000 that 2 years ago, had they worked with me, would be reaping those benefits. Yes I agree they're unbelievable and have hired many many that do not know the in's and outs of the mortgage industry but they are also slippery sob's and use their legal team in such a way as to rip the thread of life from the very souls they rip off!

My chapter 7 was discharged Sept of 2006. April of 2007 Lehman brothers did a credit check on me... UNAUTHORIZED. Now why are they doing this??? I don't have a loan with them and I'll be dammed if I ever do again! Because of them not only did I loose my home, but I also had lost my children because they sucked all I owned away from me and I had to reliquish custody of my children to their father just to feed them! They drag things out so long to either NOT have to own up to their responsibility or in my case had taken my property probably to flip it for profit! EVERYTHING I OWN... and I hope they choke on it.

I was shocked that so many people have posted negative comments posted about Aurora Loan Services (ALS), however, not surprise, as I agreed with all the comments. I am a ex-employee of ALS and I couldn't believe the incompetence of our cashiering departments. I do emphasize with everyone and it it true. Not only did cashiering misplace and/or misapply mortgagor's payments, they would actually apply checks we received for payment of a repurchase or makewhole to the mortgagor's account. I worked in Contract Administration, so I actually requested loans to be repurchased by the investor, such as a Wilshire because the loan(s) had gone into default.

However, to many times, I would be waiting for a wire or check for the repurchase or makewhole amount, only to discover weeks later, that the Cashiering Dept has posted the check as payments. Then, the the burearacy it took me to get the check back, several internal calls, arguing with cashiering, like we worked for different companies and the ridiculous paperwork. In the end, cashering would send the check back to the investor! Unreal. Then the investor has to resend a check or wire again to my attention to assure proper allocation.

I was embarrassed countless times, trying to explain what happended and apologized profusely for the inconvenience. But it was total incompetence on ALS's part. It was total maddness working their internally, so I know I can imagine the customer's frustration.

Being in mortgage service for over 15 years, I was recruited to work for ALS in 2004 from Dallas, TX. I was stunned that Aurora Loan Services wouldn't at least hire experienced staff when dealing with other people's money, such as accounting and cashiering. That is not the case. I am sorry that so my customers have had unpleasant experiences at ALS and I encourage all to file a class-action suit. I was fired in late 2006 after 2 years because I wanted out of the Contract Administration Dept.

I am willing to be a witness to any lawsuit filed against ALS.

Good Luck to everyone...