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America's Servicing Company / Poor customer service

OR, United States Review updated:

America's servicing company (Asc) is servicing our first mortgage loan for wells fargo. They are by far the worst organization I have ever had the displeasure of working with. They are incompetent, disorganized and out of touch with reality. They have no ability to work with customers. They could not help us with a modification to our loan, even after 7 attempts. They made mistake after mistake and there is no consistency within the organization. They have several different departments within the company which no one at asc seems to understand. Customers have almost zero chance of speaking with someone who could help with the first phone call and each time I have called, I have been directed and redirected to different departments, personnel and phone numbers. I cannot count the number of times I was given wrong phone numbers, hung up on, told incorrect company policy or incorrect information. It is almost as if this is done purposely to keep from having to make decisions about modifying loans. I agree with others who have suggested that this company should be investigated as deliberately and fraudulenty keeping consumers from working out loan solutions. The worst part of this is that I had no choice as the loan was sold to wells fargo and serviced by asc without my even knowing it, let alone playing a part in the decision. Where is our choice for opting out with these transactions? Now we are stuck, days away from foreclosure and no place to turn but attorneys. We will fight, spending money better spent on house payments, simply because of the incompetence of companies like these. Many people across the country are of the opinion that people who invested in loans they could not afford should just be allowed to fail. What they misunderstand is that there are many more of us in a group that can afford the price of the home's we have purchased, but cannot afford the adjustable rate mortgage's that we were pushed into and never intended on keeping had the housing bubble not burst. We can keep our home if the banks would offer a solution - pretty simple... Fix the rate for good at a low, affordable level. Not hard. Not rocket science. However, we cannot get to a decision maker! Things across the country would be so much better if these companies simply understood this basic principle. Fix the arm's and fix the economy. Wake up, banks and work with your customer's who can afford a modification. Please offer workable modifications and everyone benefits. Continue to provide poor or no service, and you will lose more and more money from unnecessary foreclosure properites and slow the economic recovery.

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Comments

  • Ck
      May 06, 2007

    I could probably write a book about this RIP OFF Company! My loan was also sold by Option One Jan 06. I became ill, contacted them in May 06. Stated organ has failed, going in for transplant in July. Please advise process if payment missed. By July 19, 2006, I had received no response. Each time I sent a letter (to have proof) and also faxed, it took 45 or more days for them to respond. By the time I return from the hospital, they are now calling me twice a day (or more) about the missed payment. They sent a letter stating options were to add the missed payments at the end of the loan or receive a deferment / moratorium. It took so long for a response, I wrote the chairmans office. I now know why the company sucks! It took that office so long to respond, I had forgotten I had written them (over 60 days). And, then the lady said she had to go back to the customer service office. (Completely unable to assist.) Just to cut this short, let me warn you, if you are late on a payment you are not eligible for a deferment. If you are late, you are unable to add a payment to the end of your mortgage, so I ask--why send a letter offering the options? They finally sent a letter to foreclose, I went to an attorney.

    If your loan is sold, I strongly recommend you re-finance elsewhere!

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  • Er
      May 07, 2007

    First of all i am a collections rep for asc out bound collections... and first let me tell everyone do you know what asc is... its a NON-PRIME Loan servicer for everyone who doesn't know what that means it services bad credit loans, wait let me rephrase that horrible credit loans, and it makes me laugh when im talking to you and your there talking about how perfect your credit is and i see when im calling you and i see your true double digit credit scores... also your payments are due on the 1st not the 16th people who have bad credit seem to find this confusing thinking the 16th is your due date because thats when you get your late fee... also have you ever wondered why you get stuff from wells fargo with your mort. payment stuff , because asc is affiliated with wells fargo but wells fargo just doesnt want to be labeled the company with all the bad credit loans... how does asc end up with your loans... companies suck as freemont, countrywide, emc... etc companies originate loans the, prime loans (excellent credit) sub-prime (mediocre credit) and non-prime(bad credit)... the originating company keep your loan for 2 months if your lucky ,then thats where the fun starts the prime loans get sold to a company the non prime loans get sold to a company and then asc get all the non-prime loans get sold to asc... so i hope all this info answers your questions to why you have this horrible company servicing your loan... all because you all have horrible credit no one to blame but yoursel[censored]

    Oh yeah i know asc is a screwed up company but i also find it funny when i hear people talking about sueing asc... and winning... yeah right when you walk in the court room with your bootleg lawyer and then asc/wells fargo comes in with its all-star team of lawyers who get paid more in 1 day then your lawyer will make in a year... do you really think your going to win your lawsuit.

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  • Be
      May 09, 2007

    I have America's Servicing Company as my mortgage company, and I too am extremely upset with the service. I agree with one of the writers that ASC will call me if I am a few days late, but I can never find anyone to help me when I have a concern. I am in the process of trying to refinance my loan, and when I pulled my credit report, I discovered that ASC had erroneously reported to the credit bureau that it had started foreclosure proceedings twice, but I timely make my payments every month. To make matters worse, when I requested a letter providing that it was in error in reporting these comments, it would not state that "it was in error;" the mortgage company I am seeking to go with requested this information. Rather, it wants this mortgage company to interpret my payment history and deduce whether it was in error. And, as to any letter I was to receive, it told me it would take two (2) weeks to process. Okay, the letter went out on April 25, but it is now May 9, and I still have not received a letter. ASC says it can take up to 7 to 10 business days for the mail to reach me. Okay, fine, can I get a fax? I have requested a fax of the letter twice, but sill have not received anything. ASC rips off homeowners with the expensive fees it charges. It abuses its power by reporting erroneous information to the credit bureau. And it hurts those homeowners who are trying to do the right thing!!!

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  • Fe
      Jul 13, 2007

    REPORT ASC TO THE FEDERAL TRADE COMMISSION. I KNOW IT WORKS.

    0 Votes
  • Ka
      Jul 31, 2007

    I have made several attempts to reach ASC on July 31, 2007. I have been trying to call them since 8 am to 11 pm. Every time I have called them, its an automated response and I'm kept on hold for 70 minutes, 43 minutes, or told by the automated machine that I can be transferred to another automated response If I choose not to wait for a representative. When the prompt directs you to press 9 if you don't want to wait for a representative, your placed on hold indefinitely and your unable to make your payment over the phone. I feel that they have set up their phone system in a way to identify homeowners who are paying at the last minute, so that their calls are never really answered and payments end up being late, because they - ASC is unreachable. This is ridiculous. The more you're late, the more they collect - its wrong, it's not right, They have set up their system to screw you. Something needs to be done. A class action suit needs to be brought against them by all who have been affected by their fraudulent business practices.

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  • An
      Jul 31, 2009

    I was laid off on 12/30/08. I called ASC to let them know that I would be receiving regular paychecks through the end of Feb. and apply for a loan modification, knowing money was about to get very tight. I was told that I was ineligible to apply because I was not behind on my mortgage. When I asked "Isn't that the point - to NOT get behind?" I was told that there was no reason to lower my mortgage if I could currently make the payments and to call back when I couldn't. I called back in Feb. and was told that even though my money was running out, I would have to be 2 months behind to apply. In April (now 2 months behind) I called and was told that again I was ineligible because I didn't have a job. I told the csa that it would be a lot easier to get caught up and be able to make my payment if it was lowered, that although I was actively job hunting, nothing had come together yet but I had applied for unemployment. I was told to call back when unemployment came in and they would discuss applying at that time. I was in "adjudication" for 4 months. I have finally received a lump sum in back payment, but now that lawyers fees etc. are involved in my foreclosure, I am unable to save my house. It upsets me because I've been trying from the beginning to keep them notified and have them work with me. They still call me several times a day, even though they've sent me into foreclosure. My only hope now is to apply for hardship and try to short-sale my home. They contradicted themselves every time I called. I think this is intentional and they don't really care about their customers - as one of their reps so eloquently stated in their slam of all customers.

    0 Votes
  • Hf
      Nov 30, 2010

    HORRIBLE EXPERIENCE!!! They are raking up fees and milking this "supposed" modification review process for all it's worth! This has been going on for 3 months now with "never received documents" "you need to talk to ____ department" "the date on that document is now over 30 days old and we need a new one" "I will make sure this is expedited right now" call back in a week" "call back in a week "call back in a week" "oh, sorry it has been over 30 days!! we need you to reapply, resend everything again with updated information so we can open you a NEW CASE"
    UNREAL!!!

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  • Sa
      Nov 17, 2011

    I agree...my cousin in Hawaii, is fighting this company because of fraudulent activities and it has been 5 years since she started the process, with an attorney. These Mortgage companies keep changing names, selling to other mortgage companies so often, it's difficult for the home owner to know to whom they must pay their mortgage. It's OUTRAGEOUS!!! This country is going to the Trash Can, with Mortgage Companies, Banks and Wall Street, and our Congress leading the garbage trucks.

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