Fairbanks Capital Corp employ harrassment techniques, ripoffs incompetent Austin Texas

I had the misfortune to have four relatively small mortgage loans bought by Fairbanks Capital Corp in late January of 2003. Right out of the gate, they misapplied payments to the prior lender that were forwarded to them into the escrow accounts rather than to the current owed payments, so I ended up paying the February 2003 payments twice and now have too much money in escrow. The payments are due on the the first of the month with a 15 day grace period.

I pay my mortgages on the first, but due to their incompetence, they can't seem to credit the payments until after the 15th of the month, even after I have verified with my bank that they checks have been paid and have gotten copies of the cashed checks on line. In addition, due to their inability to credit the payments in a timely manner, they begin calling my home incessantly on about the 8th of the month, several days after they have the payments in hand, but a week or more before they seem able to realize it. Due to having four loans, I gets calls on all four, over a 6 to 8 day period, sometimes twenty calls or more.

Every person I speak with is told that the payment is there, but today I found out that for June they applied all four payments to only one of the loans, then they asked me to fax them copies of the four cashed checks (that was today) so that they could move the money to the other three accounts. The young ladies to whom I have spoken have been relatively nice, but know they are working for a bogus operation, and must hear this type of thing all the time.

I have 31 mortgages on rental houses, and have never oncehad to call Chase Manhattan, Wells Fargo, Countrywide, Green Point, National City, AMRO, or Weichert Financial, yet I can't seem to get through one single month without ten contacts with these idiots at Fairbanks, every time on payments they have and either can't seem to figure out they have it or figure out what to apply it to. If it wouldn't cost ME money to refinance, I'd have done so by now.

I have to say, I am really really aggravated to be pushed to the point of writing something like this, but these people are either completely unscrupulous or incredibly stupid. I'm not sure which right now.

Janet
aston, Pennsylvania
U.S.A.