Complaint Review: Select Servicing Portfolio AKA Fairbanks Capital - Utah Washington
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- Author Not Confirmed
- Select Servicing Portfolio AKA Fairbanks Capital fairbankscapital.com Utah, Washington U.S.A.
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- Category: Mortgage Companies
Select Servicing Portfolio AKA Fairbanks Capital ripoff This mortgage company change names every 2 years to stay in business just when the public gets wise to there scams and legal actions are taken they suddenly have a brand new name Utah
*Author of original report: Bank of American Funding Terrorism, $14,750 penalty for permitting a 2001 funds transfer to Iraq. UBS also paid a $100 million fine to the Federal Reserve
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Buyer BEWARE!!! There should be a law against mortgage companies changing names. Equicredit became Fairbanks Capital, and Fairbanks Capital became now what is known as Select Servicing Portfolio. Which is also a fudisciary branch of Bank of America...what a rip off!! This mortgage company change names every 2 years to stay in business just when the public gets wise to there scams and legal actions are taken they suddenly have a brand new name.
I have been totally victimized by this company. In May of 2001 they lost a payment. And had their nasty answering machine that required you to dial in your social security number before they would even take your call block me from being able to reach them by phone...you should have seen my phone bill. I stayed on hold for over 3 hours one day, I realized that it was there way of stopping me from communicating with them. I figured out I could put in any number other then my own social security number and it would dial right through.
Then the late charges began on payments that I would make the day before my late charges were to be accessed. I was told the reason for this was because it just so happened that the 15th was falling on a Saturday every month and they were so sorry they couldn't possibly process the payment on a Saturday. But then when the check bounced because they somehow actually were able to process the payment through my Bank, Bank of America on Saturday when the funds hadn't been recorded yet...I began to wonder what is going on this company, is it really playing games?
Next I received a letter stating that they were forcing insurance on my home...my insurance agent faxed them the required documents stating I had proof of insurance. They then took my house payment and applied it to the insurance stating that I was now behind in my house payment and I had incurred over the last 2 years 1100.00 in late fees and by the way they told me, you are now missing a payment from Sept. 2002 which they forgot to mention until today August 2004.
Still there is more, every time I was 31 days late they sent a processor out to take pictures of my house and the fees on that were 2800.00 for now a grand total of 6800.00 owing and due by Sept. 4, 2004. When I asked them what my home looked like from the pictures they told me I had a green home that was one story..funny my home is blue always has been and is absolutely 2 stories!!
When I pushed further into the conversation with their phone agent he said they would not accept my the payment that was due of 1900.00 only the full 6800.00. To add insult to injury their phone agent Heath Goble acting in behalf of Select Servicing Portfolio, after 2 hours of lively debate decide to give me financial and legal advice stating " that I needed to sell my house immediately because his company was going to foreclose I had no other choice and after I took his envasive interview that required my to answer questions like how much do you spend on food to have you ever been late on your taxes just to be told that I could not possibly afford my home and that they could not offer any kind of financial assistance in a payback plan and that I should not spend &750.00 for groceries for a family of 8 and that he would gladly send me a financial package that would help my husband and I to figure out how to cut back on groceries!! Geez alls I wanted to do was make my house payment. This company is so corrupt they are the purest sense of corporate greed I have seen since ENRON!!!! Buyer BEWARE!!!!
Deborah
Port Angeles, Washington
U.S.A.
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This report was posted on Ripoff Report on 08/31/2004 11:27 PM and is a permanent record located here: https://www.ripoffreport.com/reports/select-servicing-portfolio-aka-fairbanks-capital/utah-washington-98362/select-servicing-portfolio-aka-fairbanks-capital-ripoff-this-mortgage-company-change-names-106449. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Author of original report
Bank of American Funding Terrorism, $14,750 penalty for permitting a 2001 funds transfer to Iraq. UBS also paid a $100 million fine to the Federal Reserve
AUTHOR: Deborah - (U.S.A.)
SUBMITTED: Tuesday, October 19, 2004
The Treasury Department cited Bank of America or its subsidiaries seven times in the past five years for transferring funds to or operating accounts for people in Iran, Sudan and Cuba.
Bank of America Vice Chairman James H. Hance, Jr., has raised more than $200,000 for Bush's 2004 campaign.
As for Iraq, Bush has seven and Kerry has three top fund-raisers from companies fined for doing business with Saddam's government.
One example is Joseph J. Grano, Jr., a top Bush fund-raiser and chairman of the Homeland Security Advisory Council. Grano is the former chairman of an American subsidiary of the Swiss bank UBS AG and was one of the bank's six executive board members. He now runs a consulting firm, Centurion Holdings LLC.
The bank paid a $14,750 penalty for permitting a 2001 funds transfer to Iraq. UBS also paid a $100 million fine to the Federal Reserve this year after regulators discovered that UBS workers in Zurich traded billions of dollars worth of U.S. currency with Iran, Libya, Cuba and Yugoslavia between 1996 and 2003.
Some of that cash ended up in Iraq, where U.S. troops seized hundreds of millions of dollars last year - some still in wrappings from the New York Federal Reserve Bank.
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