Re: TCF Bank Loan no. 099-006-0000851-8001
August 9 My wife and I entered into a home loan agreement with TCF. Truth in Lending terms were,
Annual Percentage rate: 6.249%
Amount Financed: $227,500.00
Number of Payments: 359
Amount of Payments: $ 1403.09
Number of Payments: 1
Amount of Payments: $ 1404.74
Amortized over 30 years for real estate located at 6524 Kurtz Lane, Edina, MN 55402. Actual address is 6524 Kurtz Lane, Eden Prairie, MN 55346.
It contains a variable rate feature with interest fixed at 6.249% for first 12 months.
August 23 First payment made for $1428.09, auto pay from checking account. $25.00 extra was being paid for a loan protection provision.
January 19 Letter to TCF Mortgage Department Fax: 612-228-8090
Please terminate the auto pay plan currently associated with my loan, effective immediately. Can I receive monthly billing statements?
March 10 First acknowledgement of this mortgage was sent in the form of a payment book for payments in the amount of $1428.03. It provided no contact information other than a PO Box.
October 5 Payment book sent advising increased payments to begin on November 23. No other information was provided.
November 23 First increased payment made for $1553.09
January 6 I initiated the process of refinance with Brian Durham (952-927-8814).
January 11 Brian called with updated information
January 13 Brian called with updated information
January 24 Brian called and stated that I owed $1900 to bring the account to date, when in fact, I was not in arrears at all. This amount is $300 larger than my regular payment to further adding to the confusion. It was also alleged that I was more than 30 days late on several payments resulting in significant reductions in payments toward the principal. I advised him that no payment was made over 30 days in arrears and had the proof to back me up.
January 26 Letter to Brian Durham
I received the completed document that I had sent to you for entries. This makes no sense at all. I also neglected to add a few payments since we closed on this loan on August 9. I'm surprised that you didn't show that on your response.
Are you telling me that I paid nothing on the principal for those first few months???
Let's do the math. I refinanced at 6.249% with a balance of $227500.00. This equates to $38.92 per day interest. This equates to about $1200/month in interest.
I am sending a new worksheet for you to prepare. Look at that daily interest and do the math. I have paying sizeable amounts to the principal all along!
Please correct this data as this submission is unacceptable.
February 1 Justin (952-927-8814) called and advised that he is taking over Brian's accounts. We set up February 3 for executing a modification to the existing mortgage.
February 3 I had attempted to execute a modification to this mortgage. I was informed by Justin of the TCF Edina branch that the current loan balance is $227,480.50. This did not agree with my records and my payments towards the principal total much greater than the $19.50 over 18 months that has been alledged. Justin advised me to contact Christine Roban to settle these matters.
February 3 Telephone attempt to contact Christine Roban failed.
February 3 Letter to Christine Roban
I have attempted to execute a modification to this mortgage today. This loan closed on 8/9/04 with a beginning balance of $227,500.00. I was informed by Justin of your Edina branch that the current loan balance is $227,480.50. This does not agree with my records and my payments towards the principal total much greater than the $19.50 over 18 months that you alledge.
Following are two spreadsheets. One is completed with the figures based on the 6.249 interest rate on the original mortgage. I realize that that rate is guaranteed for only 12 months.in fact, I have no idea when and to what rates were interest rates change. You send no statements!
Please complete the blank worksheet to show your calculations and your method of arriving at this unreasonable loan balance.
I have lost a lot of confidence in TCF when Brian, of the Edina branch, informed me on January 24 that I owed $1900 to bring the account to date, when in fact, I was not in arrears at all. This amount is $300 larger than my regular payment to further adding to the confusion.
It was also alleged that I was more than 30 days late on several payments resulting in significant reductions in payments toward the principal. I was never more than one month late. The dates of all payments are on the spreadsheets and if you take issue with any of these payment dates, I will provide proof of their accuracy.
I am not ruling out arbitration pursuant to the legal rights stated in the Arbitration Agreement.
February 7 Telephone attempt to contact Christine Roban failed.
February 7 Letter to Christine Roban
Please provide the payoff amount of the above loan as of today and the per diem interest from today.
I also need each and every interest rate change and the date of each change.
This, in addition to the previously sent worksheet that asks for the interest and principal paid from each payment.
February 8 I began efforts to refinance with another institution.
February 13 Telephone attempt to contact Christine Roban failed.
February 13 Letter to Christine Roban
This is a third request for information!
Please provide the payoff amount of the above loan as of today and the per diem interest from today.
I also need the interest rate effective for each day this loan has been in force.
February 17 Sharen Thacker advised ProTitle Company The amount necessary to pay off the above account is $232,353.68. We must receive the payoff check on or before 3-16-06.
February 20 Jason Cordes (612-661-8972) called
February 25 I was approved by another lender for a 5.8% fixed, 15 year term mortgage and was ready to close.
February 27 Jason faxed an amortization schedule based on 6.5% APR and 180 months. It appeared to have excessive payment amounts ($1979.46) for the APR quoted. It reflected a loan balance of $228466.24 as of March 22.
February 28 Jason called to follow up on the schedule he sent. I advised that I am preferring to refinance elsewhere.
March 14 Jeremy (612-460-4675) contacted me with concerns over the mortgage and that I should consider refinance totally oblivious to the previous matters. After discussing the problems I have had and the request I have made, he said he would look into it.
March 20 I have not received any information regarding any of my requests from Justin, Christine Roban, Jason or Jeremy. No one has challenged the accusations I have made, the documents I have calculated and proof of payments not being over 30 days late. I don't even know what interest I'm currently paying on my mortgage. No one from TCF has shared that with me.
March 20 Faxed a memo to TCF canceling the Command Protection Loan Provision.
March 28 Nothing received from TCF. No acknowledgement of command protection loan cancellation received.
April 7 Faxed a memo to TCF requesting a payoff figure.
April 19 Faxed a 2nd request to TCF requesting a payoff figure.
April 21 Sharen Thacker advised ProTitle Company The amount necessary to pay off the above account is $233,384.36. We must receive the payoff check on or before 5-19-06. A $1030.68 increase in loan balance since February 17!
April 21 I accepted TCF terms of modification to include a 6.54% fixed interest rate with no closing costs.
April 25 Jason Cordes advised me to make the current mortgage payment before proceeding to close on the modification.
April 26 TCF advised Pro Title of the amount of $8321.08 to payoff the line of credit.
April 26 I dropped off the mortgage payment of $1476.69 at Edina branch.
April 30 Line of credit statement indicated the principal balance to be $8089.16, $231.92 less than that given on April 26.
May 1 Jason Cordes advised me that the April 26 payment did not get posted until April 28.
May 4 We signed a closed-end loan modification agreement at a 6.54% fixed rate mortgage. The loan balance reflected is $231736.88 as of May 22 (a $3270.64 increase in principal from March 22).
May 4 Telephoned Jason Cordes and demanded justification for the discrepancies in loan balances. He returned my call and asked that I call him back.
May 5 Telephoned Jason Cordes and demanded justification in black and white, either email or fax, for the discrepancies in loan balances.
Here's a recap of reported mortgage loan balances from TCF
8/9/04 $227,500.00
2/3/06 $227,480.50
2/17/06 $232,353.68
2/27/06 $228,466.24
4/21/06 $233,384.36
5/4/06 $231,736.88
Line of credit
4/26/06 $8321.08
4/30/06 $8089.16
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