I was in the process of doing a HAMP mortgage modification with Bank of America, when I was advised by Bank of America that they had sold my mortgage to Nationstar Mortgage. I was instructed to send my loan modification documents to Nationstar Mortgage. I did as I was instructed and send the complete document package to Nationstar Mortgage in Oct 2011. That's when things began to go south.
I called to make sure they received my application package which I sent by pirority mail with proof of delivery. No one could find my application package and I was told I would have to send it again.
This application package took me several weeks to put together. Before I sent another modification I called Nationstar Mortgage again and was told they had my information and it was under review and they had all the information required for processing. In November I received a call asking for additional information which I sent by both priority mail and fax. I received another call from a different person asking for the same information a week latter.
I heard nothing back from these people, so I called to ask the status of my application. I was told
they needed additional information, which sent by pirority mail and by fax. I heard nothing back from them and it was now the first week of January. I called for the status of my application again and was told they had everything they needed and it was under review. I heard nothing back from them in January so I called them back the first week of February. I was told that my modification had been approved and I would be receiving a modification package from them in the mail. That information never came, so I called back the last week of February and I was told that my application was denied and a letter had been mailed stating I did not qualify for the HAMP program. It has now been three weeks and I have not received the letter that they said they mailed.
This company has people working for them that do not have a clue about customer service. The right hand does not know what the left hand is doing, and no one there can give an answer about anything you can depend on. When you talk to another person you get a tolally different answer.
At this point I don't know if my loan modification is approved or declined, and if I call them I am told it is apporved and declined. After checking complaints about this company I find that thousands of people are having the same or worst problems. Because the HAMP mortgage modificaton only applies to Fannie May and Freddie Mac mortgages, Nationstar is buying these mortgags from prime mortgage companies and doing everything they can to foreclose on these loans so they can sell the property and the government owned fannie May and Freddie Mac insured these loans so Nationstar Mortgage is paid any shortage by Fannie May and Freddie Mac.
This company has no intension of helping home owners to keep their homes. They are using the HAMP program to create situations that put the home owner in a forecloser position. They should be prohibited from participating in this government program.