Olympus Servicing, Fairbanks Capital rip-off non-responsive no disclosures consumer fraud Salt Lake City Utah

I happened upon this site trying to get a mailing address for Fairbanks. What an eye opener. I too had a good loan history when my loan was sold to Olympus. I never received notice of new loan holder, and about 60 days after they acquired the loan I received two payments back from my former lender. I called and was told Olympus had bought my loan. I called Olympus.

Initially, their representative only threatened and harassed me with foreclosure, legal fees, etc. Eventually I got through to a consumer advocate there who interceded and allowed me to get current and clear up my credit reporting. Olympus was using an old mailing address and never contacted me by phone at home or at work.

Just when we got on track I had a recurrence of cancer. I called the consumer advocate and advised I might have some late payments because I had just changed jobs and would find much of my treatment not covered. I agreed to set up auto debits, but they never followed through. I called the original collection guy 43 times over a one month period, and NEVER got a return call. I left dozens of voice messages. I even called other extensions and left messages.

I was quite ill but worried about losing my home, I did not have energy to put into daily calls and the worry over my credit status and my children's future. I finally told my employer of my predicament and they put me in touch with a helpful agency who called Olympus.

No answers. I was sending partial payments into an abyss. Two months later I got a call from Fairbanks saying they['d assumed my loan and needed to discuss payment options. I called back and it tooks days for reply. Finally I talked to a collection officer saying they were about to sell my house. They demanded $13,000 on the spot.

They were slow to return my calls - and there was no explanation of why they never called before they foreclosed. I advised I was working with a third party mortgage counseler and Fairbanks got more insistent that I pay up in full - no partial payments - they'd all been returned (and they were all cashier's checks - so until they arrived I was out thousands of dollars and am still waiting for some to come back.)

They did not want an arbitrator. They did not tell me they should only be speaking to the arbitrator, not me personally. I now see they are a subject of a class action lawsuit in my state. I can see why. I was not a sub prime borrower when I bought my house. I became a sub prime borrower when Olympus mishandled my payments and locational information and then sold my loan to Fairbanks and no one contacted me. I did have a three week period when I did not answer my home phone personally.

I was in chemo, recovering from major surgery, exhausted. For months I kept daily contact. I never stopped working, trying to earn an income to meet my obligations and take care of my family. I needed some accommodation and I was willing to accept any payment arrangement and consented to such in writing. They failed to follow through. I can't describe the anxiety of wondering every single night if I will lose my home. My children watched me shrink, lose my hair, sleep on the bathroom floor with my head resting on the toilet - but never give up.

I was not always as energetic a customer of these companies as I should have been - but then again, I wasn't even aware I was a customer of Fairbanks or Olympus until months after they bought my loans. They are predators. Fairbanks' representative, once he heard how much equity I had in my home did not want to work with me. He knew they could sell my house for a profit.

I'm not ignorant. The minute you sense trouble, get help. Don't deal with them personally. Get an advocate, record everything, document everything.

Kelly
Sacramento, California
U.S.A.

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