Our original loan was with First Franklin who sold it Equicredit, a subsidiary of Bank of America, who sold it to the crooks at Fairbanks. In the three years we have had this loan, all payments have been timely made. Fairbanks takes their time to process your payment, misapplies the monies to an incorrect account and then sends a default letter. It seems every month I am calling them to straighten out some misappropriation of money. In November we began a refinance.
However, Fairbanks misapplied our November and Decembers payments. I received calls from their collection unit who say the monies and acted like they would take care of the problem. Three weeks later I call the customer service department and they tell me that the collection department didn't forward the correction of the misapplied moneies. We start again. They finally fix the problem but them transfer to much money, causing a shortage for different months. It was crazy. During this time, our refinance loan fell out the process, because while Fairbanks was taking forever to fix their mistake, they were quick to report to the credit agencies that we were late on our payments. Was this a nightmare! Finally the problem is fixed, or so the account information on their website says it's fixed. I printed out the pages for my protection. Previously our insurance agent had to fax them 6 separate times our proof of homeowners insurance. My agent said to me, "who is your lender?" How many times do I have to send this proof! I thought I'd have to fly to Salt Lake City to take of that mistake. It wasn't until the applied the "forced-placed" insurance that they finally said they received the copy of our policy. Hopefully, in the next week the refinance will finally be complete and I will be rid of Fairbanks. I will be back to file complaints with the feds the state of California and to contact the attorney who filed a class action in California. These crooks have to be stopped!!!
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