Report: #1075612

Complaint Review: Fass Financial

  • Submitted: Tue, August 13, 2013
  • Updated: Tue, August 13, 2013
  • Reported By: B Johnson — Georgia
  • Fass Financial
    136 Washington SE.
    Albuquerque, New Mexico

Fass Financial Loan modification Fraud; up front fees; Fraudulent loan practices Albuquerque New Mexico

*Consumer Comment: My client is experiencing a similar issue

*UPDATE Employee: Management Rebuttal FASS Financial

Show customers why they should trust your business over your competitors...

Beware of these guys! They take HUGE up front fees for home loan modifications and there is no guarantee. They don't return your money if it doesn't go through. They tell you that the up front fee is to "register" your loan with the government so that the bank or whoever can access the TARP funds. I called both Wells Fargo and Fannie Mae and they said there is no such thing as a loan registration fee, and that is completely fraudulent!! They also tell you NOT to make your mortgage payment to the bank. Well, I did that an then Wells Fargo called me and told me that they will report it to the credit agencies as late payments!! I tried to find out exactly where they are located by googling their address and it looks like an empty lot. I wouldn't trust my home with them... I recommend you do your due diligence and not get burned like my husband and I. We almost lost our house..

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This report was posted on Ripoff Report on 08/13/2013 06:24 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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Updates & Rebuttals


#1 Consumer Comment

My client is experiencing a similar issue

AUTHOR: Jamison - ()

My client in FL is experiencing the same up front fee issue with this company. They have retained my law firm to represent them in attempting to recoup the fees they have already paid. My client was charged a $1995 up front fee for services. They were told that it was legal, since they could pay the rest in payments. The total fee charged is $5495 to modify their home loan. Like the original poster, they were told to stop making their mortgage payment to the loan servicer while in process.

They wer also told that it would not have a negative impact on their credit and that it would be better to put that money in their pocket so that they can have a little cushion moving forward after their loan was modified. I found this posting during my research on the firm and wanted to make sure that, as a consumer protection attorney, consumers are given a fair choice, based upon as much available information, to work with whoever they choose. 


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#2 UPDATE Employee

Management Rebuttal FASS Financial

AUTHOR: Edward - ()

   As management of FASS Financial we are writing to assure anyone who reads the negative post on here that it is not true and was written by a former employee. That employee was removed from the company for violating company policiy.

   This is not an actual client, we are proud to say that we have never had a negative response from an actual client and that we strive to give great customer service while making sure we are 100% compliant with all laws and regulations having to do with the loan modification process.

   Please refer any questions or concerns you may have after reading this to your assigned case manager. We appreciate all the clients that have done business with us in the past and presently.

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