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America's Servicing Company / Illegal distribution of escrow account

1 United States Review updated:

Apparently sending a homeowners insurance certificate twice is still not enough for this company. Even after my insurance company sent proof of insurance, ASC still insisted upon paying their own insurance company to cover my mortgage out of my escrow account. I have tried via numerous phone calls to get them to acknowledge my chosen insurance only to be told I've reached the wrong number. When I finally reach someone at the "correct" phone number, I'm told that they "never received proof of insurance" from me or my ins. co. Now, thanks to them, my ins. is cancelled for non-payment, and I have to reinstate it. Meanwhile, their fly-by-night ins. co. is reaping the benefit of my hard work and ASC's shady dealings!

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Comments

  • An
      5th of Apr, 2007
    0 Votes

    I sent copies of proof of insurance and USAA Insurance Company (my insurance) called them. The Company still purchased Harrican Insurance there for purchased insurance for me. The cost over $10,000. Again USAA and I called them that I was fully covered. I was told upon receiving reimbursement from their insurance company they will place the money back into my escrow account. Over three months, still pending reimbursement.

  • Am
      14th of Apr, 2007
    0 Votes

    ASC is still charging my parents insurance, even after they have faxed their policy and America Family faxed it to ASC it is going on two years now. Also they are trying to foreclose for the second time saying they have not received payments since 03/06/06. When they just went through this in 10/2006 of ASC saying they have not got any payments in 22 months. I have found so many complaints on ASC it amazes me, I am doing research on ASC and making copies of all complaints, and forwarding to the Attorney General and the News to see if it helps.

  • Ri
      19th of Apr, 2007
    0 Votes

    The same thing happened to me. What is really stupid is that I have a condo and the insurance is provided through the homeowners association which the mortgage company should have known before buying the mortgage from the previous lender. It definitely sounds like a scam to me.

    Additionally, they were bugging me about the first months payment via phone after they had bought the mortgage and I hadn't even received any notice from them or the previous lender (I had already sent payment to the previous lender). When I told them this, they said I had to pay them (also) anyway. Needless to say, I didn't. But it took a couple of weeks to straighten out. What a bunch of incompetent fools.

    I am forwarding a complaint to the Federal Reserve. Feel free to do the same.

  • Ka
      20th of Apr, 2007
    0 Votes

    I also paid my owe insurance and taxes, when last June ASC decided to add an escrow to my existing account, they doubled my payment and charged me all kinds of fees like inspection and investigation, etc... when i argued with them,that I pay my own taxes and insurance and they never placed any moneys in escrow, they finally refunded back to my loan part of the money but they did not adjust my payment, I have called them on this numerous times because I can not make the nearly 1,500. new payment, which was a bogus amount. They still had it termed escrow, but only put 180.00 in escrow over 8 months. Everytime I called them they would say they would look in to the situation, then I got a letter with a loan history and a new charge to my loan of 15 dollar investigation fee. Two weeks ago they sent us a foreclosure letter, we made several attempts to contact them and the attorney but no one would help us or return our call. Last week they foreclosed on my home I have lived in for 26 years and no one will look at the problems. I can not afford an attorney. How can America let this happen to its citizens, they have ruined my credit because i could not pay the double amount so I can not get a loan to refinance.

  • Re
      9th of May, 2007
    0 Votes

    I have never had any problems with ASC... so far anyway. We usually pay by the 15th of the month for a loan that is due on the 1st and we have NEVER received any reminder calls.

    As far as verification of occupancy the mortgage company does have a right to do that and almost all other companies charge an "express payment" fee. Our old mortgage company charged $20.

  • Ve
      13th of Sep, 2007
    0 Votes

    Anyone who had private insurance on their home and yet was force insured by ASC through their own insurance company known as "American Security Insurance Company", please contact us, we are organizing the parties to a class action lawsuit against ASC. Also, will: daklaw@voyager please contact us, we would like to coordinate with you and the NACA the principles forthis class action.

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