• Report: #168960
Complaint Review:

Emc Mortgage Company

  • Submitted: Thu, December 22, 2005
  • Updated: Fri, December 23, 2005

  • Reported By:mechanicsville Virginia
Emc Mortgage Company
P.O. Box 141358 Irving, Texas U.S.A.

Emc Mortgage Company ripoff Irving Texas

*Author of original report: EMC Update

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I have an interest only loan with EMC. One of my payments was applied to the "principal only" by mistake. I contacted EMC in October & the payment was supposed to be transferred to the interest only account within 5 days. I waited about 10 days & found it was applied to the "other" section of my statement which I later found out to be a "suspended" acount. (Giving the appearance that their was no payment made). I then began receiving calls from their collection dept.

Each time I have called since then, I receive the same response, yes they see the payment in the suspended account & will have it transferred within 3 to 5 days.(At least 5 calls)

It is now the middle of December & the payment is still sitting in my "suspended" account.

EMC has not charged me late fees but after reading some of these other postings I am beginning to worry. I am not sure what to do at this point. I did email an lawyer today that has posted a message about EMC:
James Hoyer
One Urban Centre, Suite 550, 4830 West Kennedy Blvd.
Tampa, FL 33609-2589 contactus@jameshoyer.com
Phone (813) 286-4100 Fax (813) 286-4174 Toll Free (800) 651-2502 (800) 634-0877

Please let me know if there are other agencies that should be contacted?

richmond, Virginia

This report was posted on Ripoff Report on 12/22/2005 09:42 AM and is a permanent record located here: http://www.ripoffreport.com/reports/emc-mortgage-company/irving-texas-75014-2358/emc-mortgage-company-ripoff-irving-texas-168960. 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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Updates & Rebuttals

#1 Author of original report

EMC Update

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

After emailing John Hoyer, Esquire, I was contacted by one of their investigators, who suggested the following:

Write EMC a Real Estate Settlement Procedures Act (RESPA) QUALIFYING LETTER. You can request them to investigate added fees, missing misapplied paymentsetc.
The letter can be found on the HUD web page:
http://www.hud.gov/offices/hsg/sfh/res/reslettr.cfm .

Don't forget to send the RESPA Qualifying Letter certified, with a return receipt. You then can prove when the letter is received at EMC, even if they don't comply with the RESPA law.

Request a payment history or download your payment history to show how they dispersed your payments or how long they held the payment before posting it to your mortgage. This can also be used to document EMC's actions later. You can write a RESPA letter for each problem you find in the payment history.
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