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Ever since Chase sold my mortgage loan account to IBM Lender Business Process Services, Inc. (IBM LBPS) in July 2010, I am having to spend countless hours on the phone to straighten out their screw ups of my mortgage account. IBM LBPS customer service is practicing unduly harassment at best and at worst committing consumer fraud, by mistreating and forcing me to repeatedly give irrelevant personal data and listen to lengthy propaganda (recorded and then by the live agent)of how "great" LBPS is as a company
and what it does and does not do as a "debt" collector before even asking for the nature of my call. All received official document concerning the transfer of my account and changes they made have been to my account have been sent to me approximately two(2) weeks after the date that they told me over the phone that their "system" shows as "mailed out" and the date on the letter itself. Several times I received the supposedly "mailed" documents after contacting them about the issue (like their notice
informing me of a more than $200 increase in my monthly payment starting in November).
My latest issue with IBM LBPS, they increased my monthly mortgage payment to more than $200 per month for "homeowners' insurance" starting in November 2010, three months after they take over my account from Chase after almost 5 years. This is supposedly because the insurance documentation provided from my condominiums association, on two separate requests, is not acceptable to LBPS--- the same one provided to and accepted by Chase for the past 5 years without any issue. When asked why something worked for Chase on the same loan for 5 years, now all the sudden won't work for IBM LBPS, I was told by "upper
management" group, Mirium (sp?) Medina, that maybe Chase didn't send them all the documents during the "taking over" of my loan and that I need to send them another copy of "insurance proof" of my dwelling and that I am responsible for the homeowner's insurance fee that IBM LBPS "took out on my behalf" and charged to my monthly payment amount without my consent or any advance notice to me.
In addition, I received a harassing call from IBM LBPS this morning (11/22/10) at work (the same number I asked them to not to call the last time they called looking for the September payment on September 7) wanting to know why I have not sent them the November payment---the same one that my bank has records showing the check was cleared on 11/09/2010. A response I got from the caller when I told her I am looking at my on-line bank statement that states that my on-line bill payment to LBPS was sent out 11/1/2010 and the check cleared my bank by IBM LBPS on 11/09/2010, "Oh, let me check to see what's going here." How about get your act together first before wasting your customer's time and patience, especially, one that has never been late with her payments for years?
The complaint has been investigated and resolved to the customer’s satisfaction.
My account was transfer from Chase Bank to IBM Lender Business Process Services this year. I went from Bad to worst as far as customer service and overall treatment receive. When my mortgage was with Chase, I was in the middle of a Loan Mod. These people were just a nightmare to deal with. When I learn of the transfer, I was initially hopeful that I would encounter a better system and process. Not the case. Immediately coming to IBM they informed me that the process or stage that I was involved with Chase was not valid anymore. I needed to start the entire process over, including submitting new documents to their company on their paperwork. When submitting paperwork to this company you never get word of whether or not they receive it. They put all responsibility on the homeowner to follow-up with them. If you are not calling them twice a week your loan could be denied due to you not having all the paperwork in, however they never attempt to tell you anything unless you ask them about 3 times specifically about what they are requiring. They process has been frustrating, discouraging and most of all very himiliating as they speak with you as though you mean nothing. As far as paperwork is concern and the issue of not completing a document the way it needs to be . It appears that they want to get you so frustrated that you would rather stay with your current mortgage rate and or that you just walk away from your home as you feel their is no hope to ever get a loan mod. I have been dealing with IBM for the last 3 months and I am at my ends with this company. When calling to find out the status of the loans, you are often kept onhold for a long period of time and when you speak with someone they can not offer you any news as they are not the officers in the loan modification dept. they are often telling you that they are sending your loan officer an email of your concerns and they are checking to see if all your documents are in. never do you get someone on the same page as the other. I realizes that the banks have to make profits and have much authority over the consumer but what happen to fairness, common respect, compassion or emphathy? Di they not receive help when they needed it. Where are the dept. that regulate these banks and their practices. Fair housing practice organizations seems to not have any power or hand in helping consumers. Where and how does a consumer get assistance with getting the banks to treat us with respect and dignity. Where is the help for home owners. I am a home owner that had paid more on my mortgage to shorten my years to pay on my home and to lower the principal balance, however when I fell on hard times, the bank did not even consider any of this information. I was told to stop paying the mortgage for 3 months and that this would accelarate the banks looking into my sitaution. No so.. Please do not subscribe to this practice if you want to avoid threatening letters from trott & Trott.( One of the popular foreclosure attorney's in the Michigan area). As it stands now, I am still waiting to see if I will be eligible for a loan modification. Howver, if you have a choose, stay away from Chase, IBM lender process services, Bank of America for any services. Poor service and rude employee's.
One post is true, LBPS representatives either online or on calls, act and sound like thugs and criminals. Just remember when you vote in 2012,
Washington cronies turned our economy into a grifter economy headed by large companies that ignore the law, mistreat the public b/c they can buy support in Washington to get away with it.
I believe LBPS has until the end of June to respond to the CA Attorney General's suppeona. I can't wait to see what happens to them! Hopefully our loans will be taken over by an HONEST loan processing company who will abide by laws & ethics. In the meantime, I'm continuing to pay my modified mortgage payment that was set up by Chase. I'm not giving LBPS a penny more! I think they will probably loose their business and will be the ones who us money.
@ TimWiggans - click on the link I posted - its the post right before yours. LBPS has until I think the end of June to respond to the CA Attorney General's suppeona. I can't wait to see what happens to them! Hopefully, our loans will be taken over by an honest company who actually abides by the laws!
I am having the same problem after Chase "sold" our loan in October 2010. We had started the Modificatin in May 2009 and According to chase our modification was done and approved in August 2010 but had not gotten around to sending us our new mortgage statement until they sent us to IBM and according to chase all the paperwork would be sent along promptly so that IBM would know we were approved of our Loan Modification.
As you all might assume IBM has not gotten any of the paperwork from Chase and after I have sent them all the proof they still need me to send new doc's and pay-stubs and bank statements, tax records and so on.
When we started the modification presses we were about $1000 behind on our mortgage but since we stared this proses, with all the Late fees, Mod payments, inspection fees and Interest, We are now $9000 behind in our mortgage.
What are we supposed to do? How do we fight this?
Now they are telling us we are in Default on our Loan, Even though we have never missed a payment except for the one that got us here in April of 2009.
LBPS/LPS BEING SUPPEONED BY CALIFORNIA ATTORNEY GENERAL FOR MORTGAGE FRAUD!
http://www.californiaforeclosurefraud.us/
This really answers the question of why LBPS is assessing false late fees left & right on all of us! The following is taken from some info I found online:
Your Mortgage Servicer Makes More Money When You Default.Ever wonder why so many people are told why they need to be behind on payments before the mortgage company will even consider a loan modification?
Once you understand that the mortgage servicer does not get to keep the mortgage payments, but does get to keep the late fees, inspection fees, and other escrow charges, the answer is easy. Their right to keep these payments is outlined in the Pooling and Service Agreement.
The amount of money the mortgage company makes by servicing a current mortgage is very modest. But, there is not much work to do. Most of it is done by computer and it just a matter of collecting the payments and sending them on.
The late fees are a significant source of income for mortgage servicers. The income of the mortgage servicer goes up when a customer is behind and that income stays up if the customer stays behind.
Read more: http://www.arizonadebtrelief.com/arizona-foreclosure-defense/#ixzz1L8iR5GPM
They are indeed making already traumatic financial conditions even worse by their criminal behavior. As I mentioned above in one of my earlier posts, I'm now working with LBPS thru my local Congressman's office. I advise everyone to do the same as clearly LBPS is playing games with us "regular" folk and only a Congressional Seal on a letterhead will jolt them into corrective action!
BEWARE: I just received my recent statement from them and they charged me a late fee on April's payment - WHICH WAS NOT LATE & THEY CASHED ON TIME! Be sure to check your statements every month. Just imagine how much more money they would steal if they charged thousands of us late fees for on-time payments and we missed it by not reviewing our statements!
I have the same problem's with IBM LBPS. They are horrible! I can't believe that I actually miss Chase... think I'm gonna be sick
I have LBPS (IBM Lenger Business Process Services) for my mortgage also.
They are so slow with any kind of process, their website is so bad I can't even look at my payment history. The only thing I can do online is to pay mortgage WITH FEE, of course. If I pay on the phone, it's $10 fee, too.
When my previous company sold my mortgage, I didn't get any letter from LBPS for a long time, I didn't know what my payment is or the due date, and it wasn't on the website either. I requested automated payment service because that's the free payment method. The process is this: They'll send me a letter, I'll send them a voided check, and finally after 45 days or so it's active. And guess what after several months I've got no letter! I called just to make the payment I haven't done, and they still charged me for paying on the phone.
Oh, by the way, I get phone calls from them often but never voice messages. I had to look up the number to find out it was LBPS. What kind of business calls customers and never leave messages?
I've had two different mortgage companies before and I miss them...
THE ABOVE COMPLAINT IS ABOUT AS ACCURATE AS ONE COULD EXPLAIN. THE FUNNY PART IS I ECHO THE ENTIRE SPEECH, BUT WOULD ADD THAT I HAVE BEEN IN THE PROCESS FOR OVER A YEAR NOW. EACH TIME WE RECEIVE A TEMP LOAN MOD, THEY EXPLAIN THAT IT WILL BE OUR LAST...THEN THREE MONTHS LATER THEY NEED UPDATED FINANCIALS TO START THE PROCESS ALL OVER. WHAT A JOKE. A FULL YEAR INTO THIS, OUR FOURTH TEMP MOD, I HAVE NO IDEA WHAT WE ARE DOING AT THIS POINT, OTHER THAN INCURRING A TON OF UNPAID INTEREST ON MY ORIGINAL LOAN TERMS. CALL AN ATTORNEY NOW, MAKE SURE YOU ON THE RIGHT PATH, OTHER WISE YOU WILL BE WHERE WE ARE QUICKLY.
@ Sight - don't even respond to that person who is THE ONLY LBPS supporter. That person works for the company & they go on these complaint sites name calling those of us who are having real, valid issues with their employer. Maybe if LBPS put their resources into backing up their word of giving those of us who qualify loan mods INSTEAD of dispatching their employees to troll these sites, our local Congressman's offices wouldn't have to have liazions to deal with LBPS.
The only reason you all ### is because you are stupid. I have LBPS as well and have never had a problem. I had lender place insurance on the loan but I got it cleared up. You signed a mortgage and have duties to fulfill as part of it. Part of those duties is providing proper proof of insurance. Make your payments as agreed and pay your bills and you won't have any problems. Other then that quit your whining and act like adults.
Posted by rtogohome (above)
Read up smart A$$, Consider yourself lucky. Both me and my spouse have no unsecured debt and both have credit scores over 800. We make all of our payments early and did not exceed our budget when we bought our modest home. We have never missed a payment in 7 years.
The transition from Chase to LBPS went smoothly and we have made 5 payments to them without a hitch. No problems with escrow either. Then around the 15th we noticed we did not receive our statement in the mail for the payment on the 1st of the FOLLOWING month. We called on the 19th WELL BEFORE payment was due. They stated there was a mail where house fire and would send another (no notice of this was sent to us early on). We did not get it until over a week later. We went to their website to make a payment online. Their website was down. We called to make a payment over the phone. They "processed" the payment and gave us a confirmation number. The payment did NOT clear the bank. We call back and they stated that their payment system was "delaying the payments". Still waiting.
From what I learned about them at my local Congressman's office, since they are a smaller company - unlike the big banks and mortgage companies we hear about on the news - LBPS is flying under the radar and thus is getting away with playing games with homeowners and dragging their promises of "working with you" until they foreclose. In the words of the Congressman's liazion who is handling a boat load of these cases - LBPS's action is indeed criminal! My Congressman's office is now taking over any further correspondance regarding my mortgage with LBPS. It is truly a shame that it takes a Congressional Stamp on a letter for LBPS to truly work with you.
Hello, I have seen some support for this company in these messages. You have been lucky so far. Let me explain. Both me and my spouse have no unsecured debt and both have credit scores over 800. We make all of our payments early and did not exceed our budget when we bought our modest home. We have never missed a payment in 7 years.
The transistion from Chase to LBPS went smoothly and we have made 5 payments to them withoug a hitch. No problems with escrow either. Then around the 15th we noticed we did not receive our statement in the mail for the payment on the 1st of the FOLLOWING month. We called on the 19th WELL BEFORE payment was due. They stated there was a mail wherehouse fire and would send another (no notice of this was sent to us early on). We did not get it until over a week later. We went to their website to make a payment online. Their website was down. We called to make a payment over the phone. They "processed" the payment and gave us a confirmation number. The payment did NOT clear the bank. We call back and they stated that their payment system was "delaying the payments". Still waiting. Use due diligence with this company and try to make you're payment way ahead of time.
Came home from work today to find a nice letter from IBM-LBPS, reminding me that I'm behind in my escrow payment for which they have kindly attached a $63 late charge. However, if I am having trouble making my payment they will gladly make arrangements to bend me over further and to insert it a little deeper. Oh, and by the way, there was a nicely worded little warning in the last sentence the stated they hope I submit to their strong arm tactics or otherwise they will have to report the neglected payment to the credit agencies. Nice, HUH?
Thirteen years I've owned this house and have never been late or missed a payment. And, yet this is crap we consumers have to deal with.
My mortgage was sold to IBM LBPS from Chase last year. Yes, the transfer was very poorly handled. Since I took a 10% pay cut I requested a review for a loan mod. in October. BIG MISTAKE! The machine that they are, automatically takes over. They immediately established an escrow account, which I did not have prior. This in turn automatically increases your mortgage even though my insurance and taxes were paid. The loan mod. was promptly rejected because my loan to income ratio was not within the Government regulations. On January 4th I called to have the escrow removed. NO CAN DO! I had to write a formal request and fax it in, which I did. I the mean time I have maintained making my monthly house payment without the escrow. My account has now been turned over to collections and I am receiving harassing phone calls every five days for being behind in payment, which I am NOT! When you call them, they are very understanding and nice, however, apparently the escrow department has 60 days to determine your destiny, in the mean time the charges keep piling on and the calls keep coming. So, yesterday I found out that they decided to pay my winter taxes for me, even though I already paid them! When I called to find why on earth would they do such a thing, knowing that my escrow is up for removal, their response was that they acted within the Government requirements. They further went on to inform me that it is my responsibility to have the county return the funds to them! To further add insult to the injury they suggest I pay all the escrow fees and the late charges to ensure it is not reported to the credit agencies as a bad debt. UGGHHHH!
I completely disagree with the gentleman who says it is up to us, the consumer to ensure our account is handled correctly. That's total BS, that's why they are in business. And, when you do call they my be friendly, but the reality is, there in no common sense at all! They make a pretty good profit for shuffling paper and screwing everything up! I think it's time to compose a letter to the state Attorney General and BBB!
AND, by reading the previous complaints 90% of us have paid our payments on time!
I am not going to play their game any longer. I PLAN ON GOING TO MY CONGRESSMAN'S OFFICE THIS WEEK AND I SUGGEST EVERYONE DO THE SAME! WHEN I CALLED MY CONGRESSMAN'S OFFICE I WAS TOLD THERE ARE SO MANY LEGIT COMPLAINTS AGAINST COMPANIES LIKE LBPS THAT THEIR OFFICE HAS THEIR OWN LIAISON TO HANDLE THE INJUSTICE!
Get this: In the last 2 weeks I called LBPS 4 times and yet they have the gall and stupidity to send me a certified letter saying they would like to "help me save my home" and I should contact them! Each time I did call them was given the run around with one representative even hanging up on me "accidentally". Another time, after enduring yet another 45 minute call, I was asked to be put on hold while the loan officer Rafael waited for his computer to spit out which loan mod I qualified for. They had all necessary paperwork for months now and I was calling yet again to get an answer as to what I qualified for. Rafael comes back to me, after being on hold even longer, to tell me they had "A COMPUTER FAILURE". He went on to tell me this 'NEVER" happens and promised to call me back the next day.
Needless to say, I never received a call from Rafael or anyone else. When I called back several times - no explanation. I was told I could leave a message for the supervisor who was "out of the office" - so I even did this and am not surprised the supervisor didn't call back either!
I didn't get my loan modified. I have never been late. I have an automatic draft to pay my mortgage.LBPS did not cash them for three months because of "computer problems" (with a computer company!). They did manage to charge me late fees for the money they refused to credit to my account. Are these people stupid or criminal?
I vote for criminal. But they are also very stupid.
I was looking to do a loan modification with them but now I am afraid to. I have heard all the horrible things about them and I am hating that CitiMortgage sold me to them. I have never missed a house payment and I feel that I am being punished by being sent to them. My husband has left me so I was hoping to get some help until I can get back on my feet. I am afraid that is not going to work with them.
unhappywithIBM - YOUR WORDS EXPRESSED MY THOUGHTS EXACTLY! Thank you for calling that obvious LBPS "mole" out for what he is! Does he/she really think we are that stupid not to notice there the same voice basically spewing the same pro LBPS/IBM venom and lies on all of these complaint sites? Clearly, this brainwashed individual who is obviously in the pocket of this TOTALLY INCOMPETENT AND CORRUPT COMPANY thinks that by using different user names we would not recognize the only pro LBPS voice is coming from the same ###'s mouth! The way this condescending person speaks to those of us who have truly legitimate complaints against LBPS is a perfect example of how his/her company is treating us! There are many thousands, if not millions of extremely honest, responsible, hard working home owners who have fallen upon hard times either because of loss of income due to the failing economy - which, if this person watches the news would be aware of the record breaking number of people who have lost jobs, experienced pay cuts, lost their health insurance - which in turn means they have to put out possibly thousands a month for coverage - OR like in my case, experienced a severe injury (on the job) which has left us permanently disabled! THERE IS NO OTHER WORD TO USE BUT "CRIMINAL" FOR THE WAY THIS COMPANY IS TREATING HONEST, HARD WORKING HOME OWNERS WHO HAVE UNFAIRLY FALLEN UPON TRAUMATIC, NIGHTMARISH CIRCUMSTANCES BEYOND OUR CONTROL! If we are doing our due diligence to keep our homes, jump thru all the loan mod hoops, disclose all pertinent info... then LBPS should at the VERY LEAST do the same!
Hey STFU, are you that class act whose been representing IBM LBPS on other consumer advocacy sites like pissconsumer and 800notes? Steve Jackson, is that you? Whether you are or not, all supporters of IBM LBPS have one thing in common. They all sound like thugs and criminals. Well represented. I'm sure management is proud of you. Keep up the good work.
How many of you complainers make sure that expensive ### car note is paid? (all of you). Keep that payment up and forget you house note...lol right...smh You're gonna be living in that car soon if you keep it up. GET YOUR PRIORITIES STRAIGHT PEOPLE!
You guys are hilarious. More complaining about paying your bills. You sign the legal binding agreement to make your payments on the 1st of each month. Yes you have a grace period AS A COURTESY...but that does not mean your due date is the 15th! They should just take that grace away so you late paying complainers wouldn't have any question about when the damn payment is due. You're so used to paying late you've forgotten when your payment due date really is! I have it set up to come out of my account ON THE 1ST OF EACH MONTH WHEN IT IS DUE! It's a free service people...use it! That way you won't get the so called "harassing calls". How the hell is that harassing when you are the ones WHO BORROWED MONEY? Wouldn't you call a person if they owed you $250, 000...I know I would.
Im in the same situation with IBM LBPS I would like to start collecting name of others to try and proceed in a class action suit, you can contact me at neonangel71@yahoo.com Thanks Christina
This is EXACTLY the same thing I am going through with LBPS. I hate this company and would do anything to get away from them. Poor customer service to say the least, and if I have to send them another copy of my homeowners proof of insurance I am going to scream! I too would like to lodge an official complaint against this company, but don't even know where to start. Their practices are complete ###!
I have the exact same problem. I, too, live in a condo and sent the requested information. Yet, they have escrowed my account for insurance and taxes (I pay my own taxes). I was charged a late fee for my November payment. Yet, my LBPS cashed my check on Nov. 15, before the end of grace period. Of course, it was their position that I was charged the late fee because I did not send the full amount (the escrowed amount). And, they could find no record of receiving my November payment. They would check it out. I have spent hours on the phone trying to correct this situation. Where can I lodge an official investigation on this firm's policies? Any suggestions?
Lbps is a collection agency ..making a sad attempt to Service mortgage loans while bulding and fine tuning a profitable d Short sales department. They accepted state granted funds to create jobs to steal homes from economically affected homewners. Once you fallvictim to the neverending process..sitting on hold for hrs calls daily . Often questioning if your purchasing a new car or trying to get a workout option approved for your mortgage with the earnest payment requirement in order to PROVE your. seriousness to keep.your home? ! Is there a doubt of my intentions after holding for 2+ hrs at least 4 times this week? Is there some runaround. ### loving fetish I've never heard of?! Does the receipt of money really say more than 3 months of daily calls? It smells more like an act of sucking $ out of desperate homeowners with no guarantees no refunds no postponements ...and no matter what u do...eventually no home.
IBM(Lender business process services) is not a bank. They are in the business to make 3 times the amount of money than the banks. Its called foreclosure scams. They are making your account look like it is in default by not accepting payments and non posting of payments to your account. They have the title insurance thats why in the county recorder you see so many certificates of titles since 1/2010 thru now. Thats there game. You dont see any certificate of titles being issued prior to 1/2010 ever in history since 1981. But they foreclose on your house. Put a judgement against you for the loan amount plus all extrodinary fees. yet they purchased the loan from chase on pennies on the dollar. Then they sell it as ROA's make profit on the house of the current market value, then get paid out by the title insurance company. SO how much profit have they made off of one house 3 times the amount of the loan... Pretty good fraud scheme huh! yet it all the borrows fault for defaulting on their loan...Yeah right.