As an investor I have several loans with different mortgage companies. EMC is the only company that continues to mess up monthly payments. Even with account numbers, speed pay, etc. They continue to credit wrong accounts. This has happened to my husband as well with his homes through this company. My loan was sold to them in July and they have yet to get it right once. I spend approx. 8-10 hours a month getting things straightened out with them. My last payment was credited to an account that is not even close to my account number. Then they try to receive late payment fees as well. I suppose my next dealing with them is to dispute anything that goes on my credit report. We have had it with this company and are at the point to pay for legal services even though it will not phase the morons at this company. My 9 year old daughter could handle better business practices then the people they hire.
Supposeably, once they fix their mistake with you on the phone (after holding for very long periods) they will tell you everything is corrected, then once they still don't correct it they will hassle you with 3-5 phone calls a day as well as sending you mail everyday. Again, this is after they have supposeably taken care of the problem. It took me 7 reps one time to fix a payment for one month!
Unfortunately, going through a loan process does not guarantee who your loan provider will be or if it will be sold. If you can control it or have any say when it comes to an EMC don't do it!!! Do whatever it takes to take it to another lender.
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