ASC - America's Servicing Company - Wells Fargo Mortgage Subsidiary Ripoff concern of potential irresponsible loan servicing Fredeick Maryland

Just this week I received a letter from my bank that my loan servicing was transferred to America's Servicing Company (ASC) from here forward.

My next due date is August 1st 05; I was instructed by my crruent bank in the letter to remit payments after July 31st to ASC.

To facilitate a smooth transition I called the number I listed above to see what was going on and if I could make an over the phone payment.

They stated they do not have record of my loan being transferred to them and it could take upwards of 60 days to receive the complete package. 60 DAYS!!!!!
I always pay my bills on time. I even think my loan was sold because I always make extra principal payments.
I decided to research the company and do not like what I am in for. It seems the trend is the same as it applies to me. If I cannot make an over the phone payment with electronic check how can I pay with a check through the mail if they do not have my information?

After questioning them about my options I stated I do not like to send my payment through the mail for fear it will not post on time or get lost. I have always paid with my other servicer on time over the phone even at the very beginning.

All I want to do is pay my bill and be protected. I do not understand why I am being tossed into limbo.

I then mentioned that the RESPA protects me if I pay my current servicer before the due date, and that they are by law required to forward this to you. I cannot get any late charges and I am protected by the law.

She stated that that was not a good idea and to wait till August 1st to try to pay over the phone with them. Well previously you said I may not be able to do that for up to 60 days?

If I wait till August 1st I am not protected (unless I pay my old servicer before the due date)
I asked what I could do to make sure that my information gets to you on time.

She stated that I should call my current servicer as they are not responible until August 1st which is my due date.

I stated that this sort of thing must happen and there must be some type of mechanism in place to facitate a speedy transfer.I stated I even have been provided with a new loan number and gave them my old & new loan numbers and they still cannot find anything.

The letter I received states it may take up to 15 days from August 1st for ASC to acknowledge my account and process payments. Great , 15 days is my grace period which is probably going to result in late charges and negative credit.

It seems to me that they are bending the law in their favor to make this impossible for me to prevail even before it happens!

Please advise ,
Al

Al
NB, Massachusetts
U.S.A.