I am a veteran of the mortgage industry and have been licensed for seventeen years. My licensing requires yearly testing, continuing education and knowledge of the Mortgage Industry including RESPA and State Law. Had I not been privy to the following situation first hand I would not believe it. Due to my pending lawsuits I have to limit some specifics.
In the past five years from the emotionally abuse that I have been put through by Countrywide my health has deteriorated to the point that I will never recover. The worst thought is knowing there are thousands of others Countrywide has done the same. What am I going to tell my 4 children when the Sheriff pulls up to the only home they have known. The home that I dedicated every spare moment for 5 years and built with my own hands.
Countrywide began their predation on my family 6 years ago, they started by charging late fees that Countrywide themselves were automatically withdrawing on time from my checking account. The following month Countrywide began "pyramiding" payments. They would only withdraw the original principal and interest amount, which obviously isn't enough to cover the previous months fraudulent "late" payment. For several months I tried to explain the "mistake" with Countrywide's "Customer Service" without any resolution.
If you are considering using Countrywide as a lender put at least an hour aside and call Countrywide's Customer Service at 1-800-669-6607 input the prompt request as though you are a current customer and see if your call is answered in that hour you set aside. If the call is answered by a customer service representative ask them questions that would require some knowledge of the mortgage servicing business (RESPA Laws)? You will quickly find out that Countrywide's Representatives are rude and have no knowledge or training of any laws. Recently Countrywide employee's have testified (please see www.msfraud.org) they were ordered to violate numerous laws to increase profits.
Before I made any progress with Countrywide on their "Pyramiding" late payment scheme they sent me a letter, they were selling the loan servicing to Litton Loan Servicing, LP. Several months before the loan was to transfer to Litton, Countrywide refused to deposit the payments I sent. I made several calls to Countrywide and asked why they quit depositing my payments. They kept telling me not to worry that the loan was being sold, this was common practice. I then received a notice Countrywide filed foreclosure on my home. My heart sank and I became sick. I called Countrywide immediately, what do I need to do? I was told to overnight a check for $4,800.00, which was equivalent to 6 months payments. I knew Countrywide only withheld the deposit of 3 months checks, but I didn't care, I didn't want the fear of losing my home.
Three days after sending the check overnight by US Postal Express Mail I got a call from Countrywide stating they never received the check. I immediately verified the confirmation on the US Postal website that the check had been delivered. I called back to Countrywide and faxed over the confirmation of the checks delivery. I was told by Countrywide that I had to authorize a $5,000.00 withdrawal from my checking account that day or they would file foreclosure the same day. I authorized the $5,000.00 withdrawal, then went immediately to my bank to put a stop payment on the $4,800.00 check. Two days later my loan servicing was sold to Litton.
Two months later I received a courtesy call from my bank to let me know I overdrew my checking account. I couldn't understand how I bounced a check, I always kept a reserve. My bank told me I had a large withdraw the previous week of $4,800.00, Countrywide had overridden the stop payment on the check. The same check Countrywide denied they received, deposited the check after holding it 45 days and overrode the stop payment. Countrywide cashed a check on a loan they had sold 42 days ealier. To this day I have never received credit for the $5,000.00 payment that was taken by Countrywide and is listed on my checking statement.
Litton then "force placed insurance" on the loan, stating Countrywide never provided insurance information. I faxed my current insurance policy and had my agent also fax a copy. I was sent a bill for tax and insurance escrow in violation of RESPA Section 6. For nearly a year I sent the inflated "escrow payment".
Litton then sold the loan back to Countrywide 1 year later. Countrywide then charged me for a "force placed insurance" policy.
This time the premium to Lloyd's of London was an increase of 1,000%. I again faxed my current policy and so did my agent. There was never any lapse on my insurance policy. Countrywide gets a kickback or fee for this absurd premium. Countrywide demanded additional escrow payments. For several years I made these extra payments, but I never caught up according to Countrywide. I received a refund for $3,400.00 from my "escrow account" because Countrywide never paid any taxes. A week after receiving the refund of $3,400.00 for the escrow Countrywide filed Forclosure.
It only gets worse. The attorney trying to forclose on my home stands to make a huge profit.in violation of State Law he's attempting to put the home in his name and is a conflict of interest.
I was always under the impression that big companies don't conduct business like this. That some white knight would come to the rescue, there are laws that prohibit companies and attorneys from ripping people off. My eyes were awoken when I read Fannie Mae's website. Yes, laws do exist prohibiting mortgage servicing fraud but, IT'S UP TO THE INDIVDUAL TO FILE A LAWSUIT.
I am interested to hear from an attorney licensed in Pennsylvania that is experienced in Mortgage Servicing Fraud.
Doe
Western, Pennsylvania
U.S.A.
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