Ameriquest Mortgage - CitiResidential Lending - American Home Mortgage Servicing - (AHMSI) Changed Original Terms of Loan. Set up unauthorized escrow account, imposed unnecessary flood insurance on property Irving Texas

Orignated loan with Ameriquest Mortgage. $1217.91 per month. Priniciple and interest only.

CitiResidential Mortgage "a debt collector" took over loan. Imposed unnecessary flood insurance. Required an additional $322 (plus) per month for flood insurance premium. Additional funds deposited in unauthorized escrow account. Payment went up from original $1217.91 per month to over 1,539.00 per month.

No documentation sent to us showing change from original loan with Ameriquest requiring no flood insurance, to property address being changed to flood risk area.

American Home Mortgage Servicing (AHMSI), took over loan, effective 2/11/2009. Cancelled CitiResidential imposed flood insurance policy. Issued new mandatory flood insurance policy.

We supplied information indicating that property is not in a flood risk zone, as per original appraisal and flood zone certification done at loan origination from Ameriquest.

AHMSI, removed imposed flood insurance, but still continued to collect $122 +/- in addition to required payment of $1217.91, agreed upon at origination of loan with Ameriquest. AHMSI says they are collecting this monthly amount to pay our Hazard Insurance with State Farm.

There has never been an escrow account to pay State Farm for hazard insurance. We have always paid our own taxes and insurance on our property.

AHMSI says now admits an overage of $4004 +/- that has been refunded to our escrow account. However, they say they cannot speak for what CitiResidential owes us.

We have been paying $322 +/- in addition to our mortgage payment of $1217 per month for years. $322 times 12 months even for one year, shows at least $6,000 in escrow funds collected for one year.

We originated our loan with Ameriquest in 2003. It was taken over by CitiResidential within a year.

There is, at this time, no governing body that oversees "debt collectors." Ameriquest is now defunct. CitiResidential Lending no longer exists. AHMSI says they have cannot speak to the "questionable" practices of the former.

From what I understand, when a company takes over another, they assume not only its assets, but it's liabilities. The liabilities, from what I understand, determines the "net worth" of the company being assumed.

We welcome any information regarding where indeed, the finger pointing stops.

Our WA State Attorney General's Office referred our complaint to the Department of Financial Institutions, who referred our complaint to the Federal Trade Commission, who recently re-referred our complaint to the Department of Financial Institutions.

Joyce
Coupeville, Washington
U.S.A.