I just looked them up on the better bussiness bureal here is the web site for them. Take a look maybe we all should arite in to the bbb.
Http://www.mnd. BBB.org/commonreport.html? Bid=96001037
Industry Tips
Mortgage Industry Code of Practices
In November a federal government settlement with Fairbanks Capital Corp., a major mortgage company lead to a code of practices that is expected to be followed by all mortgage servicing companies that want to avoid entanglements with the Federal Trade Commission and the Department of Housing and Urban Development.
The points of the agreement are that Mortgage Companies shall not:
* Count their borrower's on time payments as late or assess them bogus late penalties.
* Foul up their customers' home loan escrow accounts by neglecting to pay taxes and insurance on time.
* Compel borrowers to buy a second hazard insurance policy at inflated premiums when they know the borrowers have valid coverage.
* Wreck their customers' credit ratings by reporting false information about their delinquencies to the national credit bureaus.
* Keep homeowners in the dark about how much they owe and when it is due.
* Intimidate customers with predatory debt collection practices such as nonstop telephone harassment.
* Stonewall borrowers when they seek account information or complain.
* Refuse to work out legitimate delinquencies through forbearance arrangements that allow borrowers to get back on their feet, and stretch out or modify payment terms.
* Stampede innocent homeowners into quick foreclosure.
* Force customers to waive their legal rights as the price of avoiding foreclosure.
For detailed information on the other aspects of the settlement or additional information consumers may go to www.ftc. Gov.
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