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IBM LenderFraud and deceptive practices

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This company receives mortgage payments, takes 20+ days to process and post them to the account, then charges a late fee to their consumers. So if you make payment on the 1st of the month, they get it on the 3rd at the latest, then they take 20 (more more) days to post it. So next month, you get a statement and there is a late fee on it for a payment you made on the 1st. This is deceitful and unfair! My mortgage was purchased from Chase in 2017 and I have had nothing but headaches with IBM Lender ever since. Wondering if anyone else is having these problems?

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  • On
      Sep 10, 2010
    IBM Lender - This company keep you on hold for hours and never answers
    IBM Lender
    United States

    Since August 1, 2017 my mortgage was turned over to IBMLBPS. I spoke to someone twice. I faxed off my papers that was asked of me. On 8/26/2017 I finally reached someone named Tracey and she told me one of the papers were missing. Chase did me the same way for a whole year. In March of 2017 I decided to deal with an affiliate of Chase opposed to doing it myself and received nothing but a transfer over to IBMLBPS. I want my house HELP SOMEONE. I just need a modification not a new house.

    0 Votes
  • Ki
      Nov 05, 2010
    IBM Lender - Awful service
    IBM Lender
    United States

    Like many others my loans was transferred from Chase to IBM. I am not requesting any type of modification nor am I having difficulty making my payments. I am however trying to refinance my home with a different lender to take advantage of the lower interest rates.

    IBM failed to report my loan to the credit bureaus for three months, as a "customer courtesy" which prevented me from qualifying for the re-fi program offered through fannie mae. When I called them and requested they report early, I was advised that it could not be done due to company policy. Once they did start reporting, they did so inaccurately. They failed to report that my loan is owned by fannie mae, again disqualifying me from the program for which I have applied.

    I called to simply request a written statement on their letterhead verifying that the loan is owned by fannie mae. After 35 minutes on hold I was told I would have to submit my request in writing to the processing department and that it would take up to 60 days for them to respond.

    I explained that I am pregnant and that I need to complete my refi process before I go out on pregnancy disability but no one seemed to care. In addition to all of the emotional stress caused by dealing with the inept employees of this company, I believe IBM is purposely preventing me from refinancing with another lender so they can continue to collect the interest on my loan.

    I did not choose to work with this company! Every contact I have had with them has been completely negative. They do not care about their customers and are so bound by excuses that they do not serve their customers needs at all!

    0 Votes
  • Si
      Mar 14, 2011
    IBM Lender - Beware
    IBM Lender
    United States

    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.

    0 Votes
  • Go
      Jun 03, 2016
    IBM Lender - No consumer respect
    IBM Lender
    United States

    IT WAS IMPOSSIBLE TO SPEAK TO A PERSON AT IBM LENDER BUSINESS PROCESS SERVICES, INC. I CALLED SOME TIMES AND WAITED FOR SEVERAL MINUTES, TRIED DIFFERENT OPTIONS BUT NEVER GOT AN ASSOCIATE TO TALK TO. WHY DOES THIS COMPANY DO THAT? HOW CAN I TELL MY FRIENDS TO USE THEIR SERVICE IF THEY IGNORE ME LIKE THAT? THIS IS NOT A PROFESSIONAL BEHAVIOR. WHEN COMPANIES TREAT CLIENTS HOW IBM LENDER DOES IT SHOWS THAT THEY DO NOT RESPECT THE CLIENT AND IN IT WILL BE HARD TO FOR THEM TO BE IN BUSINESS FOR MUCH LONGER UNLESS THEY CHANGE THE ATTITUDE.

    0 Votes

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