It is my belief that this company is improperly charging late fees up to $200.00 per month and forcing their customers to pay thousands in so-called late fees because of their failure to notify customers of rate increases.
They also hold on to mortgage payments for up to 4 weeks before submitting them to the bank for payment. They then report this as a late payment to the credit reporting agencies and begin charging the so-called late fee without notifying customers.
The only way I found out about the morgage rate increase and the so-called late fees was 6 months later when I called them after they had finally refused a mortgage payment. This company is targeting buyers under government programs such as HUD and FHA.
Since the loan is guaranteed by the government, they figure after milking you out of thousands of dollars in late fees, they can force you into bankruptcy and foreclosure and make a quick buck off the wholesale of your property.
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