I received a letter from my mortgage company, Taylor, Bean & Whitaker (TB&W) located in Ocala, FL last month saying the servicing of my loan would transfer to ASC on January 3. After checking out this site about ASC I am absolutely petrified.
We have just re-financed our house in September '04, previously it was with Wells-Fargo for nearly 2 years. Never late, always paid on time, and no problem with either companies. I always knew that the servicing could be sold/transfered to another company at any time (you sign a paper saying that at closing), and that we wouldn't have any say in who would purchase it. Since I have never heard of ASC I did a research online, and checked their "web site" - a pathetic one at best.
So I took many of your advice and called TB & W, to make sure there was no funny fees or outstanding whatever hanging around. I asked and received a faxed copy of payment history as well as in a mail. Took notes and her name. I called ASC, asked her to verify the amount that is due on February 1. She stated the same amount we've always paid to TB&W. Also verified the mailing address. She offered an electronic wire transfer option (although it is too late for February payment), but I was apprehensive and said I would call them back by February 15 to set it up.
Since I had not received a statement from them, I asked for a copy to be faxed (she said it was mailed on January 14, which is a week ago today) and received it. The amount is the same. Also took notes and her name. I called back TB&W and talked to the same person, and verified that the "transfer" was made clean and clear - no late fees, no "lost" payments to ASC from TB&W, everything was up to speed.
Even then I am extremely petrified... I am taking your advice and mailing this month's payment via certified mail with photocopies for my records. Will see what happens. Then I will have my bank to set up an automatic payment via online bill pay service I already utilize for other bills.
My questions to all of you out there with experience with ASC:
Did many of you have problems from the get-go, even though there was absolutely no negative record with previous loan company? Did it get worse even if everything was kosher at first?
What should we do if we can't refinance now to "get away" from these people, not because of credit problems but simply because it is too recent from my last refi (only 5 months)?
Meanwhile, I will take all of your advice and make sure everything is recorded, sent well in advance with receipt acknowledgement, transcript any conversation over the phone, and keep looking a way to "get away" from them.
Thank you all for standing up for yourselves and posting your experience on this site. Otherwise I would have never known what we should expect.
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