Before Waterfield was bought out by Sky Financial/Union Federal Bank in October, Waterfield sold its loans to ASC and made financial records "unavailable", as per a statement by the new mortgage company, ASC (America's Servicing Company).
ASC acquired my account from Waterfield in April, just as Waterfield was "selling" and "closed its doors". Waterfield "analyzed" my escrow account and projected a deficiency for the next year, that was far over the required coverage of 2 months. Evidently, Waterfield transferred this projected deficient amount to ASC and I immediately incurred a "deficiency of escrow" of over $500.00 and ASC stated that "there is no way of recovering ANY records from Waterfield".
I owed under $200.00 on my records that Waterfiled seemed to have transferred as an amount owed of over $500, or at least ASC posted it that way!!! Sure seems to me like the FBI needs to investigate these mortgage companies better, especially when they "go out of business" and prevent past financial records from being accessed, as per statement by ASC.
0 comments