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GreenPoint Mortgage / Funds transfer fiasco; Pemco & Countrywide Home loans.

1 United States Review updated:

I received a letter from GreenPoint Mortgage Company regarding that they need additional funds regarding the selling of my loan from GreenPoint to Countrywide Home Loans way back from January 2007. I never received notice of this sale nor was I ever made aware that this would be an option GreenPoint to engage in selling off mortgages to the lowest bidder. This being the case, funds were inadvertently sent to Pemco Insurance Co. for the loan transaction and homeowners insurance.

I now receive notice that Greenpoint Mortgage is requesting that money back from myself instead of contacting Pemco and Countrywide Home Loans for the mistake in funds transfer. Why am I now finding out about this in October from a transaction error that occured in January. Whay am I as a consumer being held responsible the screw that GreenPoint Mortgage incurred. Why as not GreenPoint gone after Countrywide Home Loans or Pemco Insurance Co. for the funds directly?

This Letter sent out to me makes no referance as to when this transaction took place. There is no breakdown or itemized statement as to what was paid, what is owed or when these payments took place. There is a name of a person "Marie Peterson" Financial Administration who I tried to contact but couldn't get through the battery of questioning as to what this phone call is regarding. Once I made my self clear as to what this inquiry was for, very little information was known about this fund transfer transaction & who would ultimately be responsible.

George Pleitez

Washington State.

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  • Di
      4th of Nov, 2008
    0 Votes

    Greenpoint informed me personally today that they are packaging up a good amount of their loans for sale to Countrywide. This is exactly was the mortgage department at Greenpoint told me today on the phone. I needed assistance from their home retention department but the girl was unavailable because she was deeply involved in bundling up the loans to sell to Countrywide. Interesting...

  • Di
      19th of Nov, 2008
    0 Votes

    Well by now most of your know that Greenpoint has sold their servicing to Countrywide effective November 29, 2008. In my perusal of various web sites and forums discussing lenders and their business practices I began to read more and more about my "little" Greenpoint mortgage company that no one I knew had ever heard of before. Obviously Greenpoint Mortgage, an entity once under the wing of Capital One and Deutch Bank has proven to be a player in many of American homeowner's mortgage nightmares.

    I am near the end of negotiating my loan modification with Greenpoint after hours upon hours of phone conversations with x, y and z departments just in time to have all my efforts yanked from under me within a blink of an eye. I happen to be one of the lucky trustors who has a foreclosure sale date set dead center between the time the announcement of the portfolio sale to Countrywide is announced and the date Countrywide actually takes control of those loans. Which means that my foreclosure date scheduled for November 24, 2008 remains on the books with no further discussion from anyone I had agreements being processed with.

    November 13th and 14th I was completing my communications with Greenpoint's loss mitigation department and loan mod depts. to finalize my work out plan, postpone my sale date in order to do so with green lights all the way. On November 15th I receive a letter in the mail stating that effective November 29th all servicing will be in the hands of Countrywide. On November 17th I called to verify the plans and find out when my sale date had been rescheduled for only to be told that all negotiations are off the table and my sale date will remain November 24, 2008 as planned.

    I've been calling Greenpoint continuously hour after hour (squeaky wheel) all day today to no avail but will continue again tomorrow until I can speak with someone that can do something to at the very least allow me to remain in my home through Thanksgiving without resorting to filing BK to do it. What a shame. I'm a fighter thank God but this is the absolute worst treatment I've experienced in my life and I hope for all time.

    What the hell is the government doing bailing these lenders out in order to loosen up the bank's lending abilities and credit practices when it is obvious that money made no difference in lending practices whatsoever? I know!! Sitting in their mansions watching reruns of Wall Street and the great Gordon Gecko speech about "Greed is Good".

  • Je
      20th of Nov, 2008
    0 Votes

    We are purchasing a home that Greenpoint holds the 2nd loan is a short sale, which they approved. HOWEVER, last week they sold the loan to Countrywide and now we are told that we will not be closing on Monday (movers have everything we own at this point) and that we will have to start the negotiations all over with CW now and it could take weeks - months at the least!

  • Ch
      29th of Nov, 2008
    0 Votes

    pay bill

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