Report: #497818


  • Submitted: Sun, September 20, 2009
  • Updated: Tue, February 12, 2013
  • Reported By: Judy De Leon — San Jose California USA
    150 Allegheny Center Mall
    Pittsburgh, Pennsylvania
    United States of America

FIRST FRANKLIN LOAN SERVICES, HOME LOAN SERVICES - Resolution Department ( loan Modification). Declined my application for a loan modification with no just cause- income info use to make their decision incorrect. They use false, misleading and deceptive advertisements for helping homeowners!!! Pittsburgh, Pennsylvania

*Consumer Comment: First Franklin

*UPDATE EX-employee responds: Full of s**t

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

First Franklin Loan services 150 Allegheny Center Mall, Pittsburgh, PA, 15212 ( Resolution Team) is the company that ripped me off. I applied for a Loan Modification on March 09 and they did not accept my application to be process until 3 months later. I was not assigned to a negotiator until 6 months after submitting my application. This person request a another copy of all of the forms that I had submitted to them in March 2009 because she reported they were loosed. Then she played phone tagged with me even after I told her what day and time she could reach me. She finally answer my call, just to tell me over the phone that my loan modification application was denied and that she has closed my case because she was unable to reach me. I call her almost every other day; I was available, she was not available.

I asked her, what did she based her decision on and she briefly and rapidly went over each of my expenses which was incorrect; also she did not use my partner's net income rather she doubled my net income which is higher then my partners and said that I had a surplus of $800 a month. My partner's net income is much less then mines and she did not even include his debts when calculating all of our debts. It appears that she plugged her own #s into the system in order to not make me qualify for the loan modification. I pay $4,300 a month plus $150 late fee on the first loan and $74 on the second. When she went over my expenses she did not include the late fees to my mortgage payment. I don't not have a surplus of $800, if any thing I am under by $ 2,000. I asked to speak to her supervisor who support her decision. I then asked to speak to his supervisor, who to this day has not called me.

I asked the supervisor regarding the appeal process and the grievance process and he said that they don't have any appeal or grievance process. I told him that by State law they are required to have an appeal & grievance process for such a major decision that they are making that is affect people's lives. He just directed me to the Office of supervisor's web site to make a compliant. I am so confused. President Obama gave the money to the Banks to help home owners, but what they are doing is holding on to the money and not helping us. Don't they get it that the economy is not going to get better until they begin helping homeowners; so that we can begin putting money back into the community. They rather me go into foreclosure and sell my house to a new buyer for less that doesn't make sense to me. We have been dedicated and loyal owners; I've already paid, in 2 yrs,  over $100,000 in interest alone.

How can they get away with taking advantage and exploiting their customers, who have been paying them big money and are now need of their assistance. They are making big decision about our lives and they don't give us an opportunity to appeal their decision and they don't even show proof in writing what they decision were based on because they are using incorrect info (income, Debts,expenses, etc)when processing our application. This is not O.k how can they get away with this!!!!! I already sent 4 e-mails to President Obama and one to Susie Orman and one to the office of supervisor and so far, no one is offering me any help. Next month I will go into foreclosure!!!Please help!!! We should all get together and do something about this. They can't get away with ripping us off!!!!!;(

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#1 Consumer Comment

First Franklin

AUTHOR: TY - (United States of America)

The Fact is First Franklin never leant money
To anyone! They were being paid by Goldman Sachs to
Originate loans so Goldman could turn them into
Securitized mortgage backed securities, so not only did First Franklin
Get paid, when you were sending your payments they were being
Sent to National City the servicer in the securitized trust.
Big Ponzi Scheme, Even though First Franklin had been
Paid, it shows First Franklin as owner of record in the county recorders office, So if you
Default they then foreclose and get paid again for taken away your home
That they had been paid for to begin with.
Mortgage pass thru certificates FFMLT 2006-FF4
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#2 UPDATE EX-employee responds

Full of s**t

AUTHOR: Eric - (United States of America)

Ok first off you had been ripping your lender off not paying your mortgage for months lets not forget that. A Loan Modification means I cant pay what I agreed to pay so I need your help to find a lower payment if possible. So many people were doing this that there was no humanly way possible to make the process any faster. Which You should have enjoyed as it just bought you more time to not pay your bill. I used to work there and what happens most of the time was the public would send in half assed application that we would 90% of the time have to call the customer and get missing documents or more documents to prove certain things such as Income. Most of the time customers were already in a bad mind set from stress which makes it harder to help. I can speak from personal experience we would call and call to try and get what we need and never get a call back then three weeks later out of the blue get a call back finally. We were held accountable when it came to returning phone calls and not calling someone back within 24 hours meant termination.  Also there was two programs people could apply for one was through the US model and one a lenders model. Almost everyone was denied the US model. WE also could not close or deny a file for at least three to four weeks of no response. The other reason I find trouble with what you say is that most of the time when a person did finally call back we would reinstate the application right then and there so you are not telling us something. The more loans that we were able to lower the more of an incentive we got so your story makes no sense. Your expenses had to be correct we pull a tri-merge report of your credit history. Trust me the bank "lender" does not want your house or want you to foreclose they lose more money. they would rather work out new payment plans to bring you up to date and keep you in your home, rather than sell it for less than its worth due to having no equity in the market at the moment. IT sounds like you felt you deserved the new payment plan but dont understand not everyone gets them or qualifies. Sorry it went poorly but they didn't rip you off as a Nation we take no accountability for the messes WE make we all want to point at the next guy. They didnt rip you off they just didnt do what you wanted there is a huge difference. I hope in the end everything worked out for you however.
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