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America's Servicing Company / Not posting checks

1 United States Review updated:

1. 01/02/07 my mortgage loan was sold to America's Servicing Company.

2. 01/023/07 I sent - a week ahead of due date - my my first regular payment with their printed coupon and envelope to their Los Angeles P.O.Box number.

3. 01/30/07 (mind you : payment is due on 02/01/07) after calling their [protected] number (printed on the payment coupon) a dozen times over a few days to check if the payment has been posted, I talked a live person in Pennsylvanis she told me to let them have about 10 days to post my check.

4. 02/05/07 Not seeing the posting of my first check, I sent by certified mail a second check with a note stating if the first check is posted by the time the 2nd check arrives, please post the 2nd check to the 03/01/07 payment.

5. Mind you again here: My loan has a 15-day grace period. And also because of the recent change of "servicing" agent, a 60-day period is tacked on to the change itself.

6. 02/09/07 I received a call that my mortgage payment is late. Then I explained the above steps #1 to #5 to the caller who said she sees the notes on her computer concerning my earlier call with some ASC person to PA. I ask her: is America's Servicing Company out there deliberately to squeeze some "late" payment fees. I told her I hope that she let her supervisors hear the phone conversation recording, because I may have to contact California Attorney General, or BBB, concerning "fraudulent business practices" in non-posting or late posting of mortgage payments as a way to squeeze "late fees" from borrowers. In my case here, after sending two checks, I am still within my grace period of 15-days at least. Why is ASC calling me that my mortgage is late? Hello?

7. I hope I never have any more problems with ASC again!

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Comments

  • Jo
      8th of Apr, 2007
    0 Votes

    We have had very similar issues with ASC. Does anyone know who regulates this company. I have tried to file a complaint within there company but the customer service gets "disconnected" or they try to divert the conversation. Thank you for anyone who can help in this matter. We need to get this company from making thousands of dollars a month on this.

  • Sh
      9th of Jul, 2007
    0 Votes

    This company is really starting to make me angry. The bought my mortgage note from my previous lender and when they did, they didn't send me any contact info for over 2 months. The very first contact I received from them was a notification that I was 2 months behind on my payments. I explained to them the situation and ended up paying for those two months with included late fees tacked on... as well as having them report to the credit companies, which needless to say didn't do anything to help out my credit score... Now my newest issue with ASC is that I sent my mortgage check by mail. I had expected a wire transfer to hit my bank the next day to make sure funds would be available to pay mortgage. There was an error with the wire transfer and had to be re-sent. I called the mortgage company to see if the check had cleared or if they needed me to do an electronic funds transfer to make the payment. They stated that the check did NOT clear, so I did the Electronic Funds Transfer to make sure my mortgage got paid.

    The next month I receive a statement saying that last months payment was never received and a late fee will be attached an I will need to pay the late fee, last months payment, as well as this months payment. This struck me as very odd so I went and got an activity statement for my checking account from my bank. On the statement it shows the check written as cleared, followed by the next day the Electronic Funds Transfer clearing. So my understanding is that they expect to charge me twice and claim not to receive two payments and charge me a late fee on top of it.

    I am planning on contacting them regarding this and will have my bank fax them the statements as proof of both charges being made. I will ask that the late fees be waived as well as being credited for this months payment, either that or they can send back the amount of the check so that I can turn right around and write them a check for this months payment...

    Simply ridiculous, I am seriously considering refinancing just to get away from this company, I will have to pay the prepayment penalty but I am beginning to think $2k might be worth it to get away from this company and their seemingly ineptness.

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