Our mortgage loan for one of our rental properties was acquired by Litton on January 10. They never sent us a welcome letter, but claim they sent January and February statements to the rental address.
They called us in February with a "courtesy" call to tell us we were late in our payment and had assessed late fees; asked us if we wanted to pay over the phone (for an additional charge of $9.99.) We gave them our correct mailing address and told them we never knew the loan was sold.
In March we again did not get a statement in the mail and again received a "courtesy" call mid month, again assessing a late fee and asking if we would like to pay over the phone (for yet another fee.) We complained and sent a letter asking that they waive the prior late fees because we were not receiving statements.
Now on april 18 I received another call from them, again saying we are late. We were on the phone for 2 hours with 5 different people and got several different stories. They were saying that we owed them almost $300 in late fees. They mailed the April statement on April 13th for a payment that was due on April 1st! The third person hung up on us after saying they were going to put a supervisor on the phone. We called back and got in an argument with another representative. We insisted to speak to a supervisor and finally got a lady who told us that the problem was that they acquired our loan on Jan 10th, had started to resell our loan immediately and then changed their mind and decided to keep the loan but it was "too late" to issue the February 1 payment statement and so we are in the system with each statement being mailed after the due date.
We asked how to fix this problem and she said the statement is only a "courtesy" and we should just know to mail our payment to them every month on the first. She did finally agree to remove all the late payments, but again we had to pay $9.99 to process the payment over the phone.
So what happens when they sell our loan and we continue to just mail in payments on the first of each month? I think these guys are crooks. It took us 4 months and probably 10 hours of phone calls to get those late charges off the books (if they really are.) If anyone files a class action, I will participate. These guys are terrible.
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