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American Home Mortgage Servicing / Misapplication of prepayment of principal

1 WA, United States Review updated:

I sent in $10, 000 additional with my monthly payment and clearly indicated on the form that it was for prepayment of principal. They applied it first to the next three principal and interest payments, then the remaining half to principal. They have done this before, and there are many complaints on these online forums about this company. I encourage everyone to file a complaint with the Federal Trade Commission (easy online form), their state Attorney General, and their State consumer protection agency. With sufficient volume of complaints the governments will take action.

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Comments

  • Mo
      15th of Feb, 2010
    0 Votes

    How did you rectify this? This has happened to me 4 times already...

  • Mo
      15th of Feb, 2010
    0 Votes

    How did you recitify the misapplication of the additional principle payment. this has happened to me every time send additional payments.

  • St
      4th of Apr, 2010
    0 Votes

    You have to find "The Department of Corportations" to file a complaint. Even if the license had been pulled they are still protected under "The lender mortgage protection Act" You must file a complaint.

  • An
      9th of Aug, 2011
    0 Votes

    As well in my case AHMSI took a payment in Nov. 2011 and for some unknow reason added a 2nd. Not complain, but they not removed one payment but two, when they found the error and replaced the fund, it was credited to Prin, with a small portion of the payment put into a holding fund to which they claim the Nov. payment was not made. AHMSI is now reporting the past 6 months of payments as not recieved and/or late to which they dont even know what to list it as. As I write this a copy of all payment documents are on the way to FDIC. If you also have had an issues with this bank get a hold of Consumer Complains.

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