Fairbanks Capital Corp. aka WMC aka Loan Servicing Center
Known in the industry as ripoff artists ripoff business from hell

If I had only known. My wife and I actually refinanced and voluntarily entered into business with WMC (can be interchanged with Fairbanks, one and the same). We were ok for a while but then my wife had a health related issue and was forced to terminate her employment. Though she resolved her issue and returned to work we had to skip a payment. After this we made a double payment thinking that would catch us up. Because other bills needed to be paid it became easier to wait one month and then make double payments.

This had gone on for several months at the end of 2001 into 2002. We received many notices, which become confusing because they send so many different ways, I. E the fake telegram, statements that don't make sense, etc. My wife and I thought we were ok every other month so often we ignored these many notices, many times several notices in the same week in different ways. Very confusing.

Suddenly, we recieved notice that our house was being foreclosed on. They said we hadn't made a payment since April and three months later they were looking for the May payment. I investigated with my bank about the payment we had made and it looked like they had lost a payment. Actually since we started doubling up payments they started applying one payment to our loan and an amount equal to a single payment to "fees".

When I asked one of the few representatives that I actually got through to what these fees were she stated that there was a fee for a person that drove past our house when we were a month late to see if we were still living in that house. Plus fees for everything else you can think of not to mention attornys.

Thinking we were doing what we had to do to keep our house out of forclosure we agreed to a forebearance, directly with Fairbanks. Basically we made payment equal to twice our normal monthly payment to cover current monthly payment and arrears.

When my wife attempted to call them because there was a reason we would be late with a payment, AC broke, she tried many times to call someone and never got a call back. For people like us a thousand dollars a month is very hard to do.

In order to get out from under the evil thumb of Fairbanks I am trying to do business with a local mortgage company to refinance. Though they have counseled us to wait till we are cought up with Fairbanks my wife and I feel a real need to be done with them. The new mortgage company is familiar with Fairbanks and new up front that they would be stonewalled.

This has happened. I signed a permission form for the new company to get payoff info and payment history. Fairbanks hasn't sent them anything yet and I had to get the payment history myself (nothing matching what they have reported to the credit report agencies.) and take it to the new company.

Meanwhile, I have received a renewed notice from Fairbanks that they are again trying to Foreclose. As of this writing I have explained that if they would just comunicate with the new company they would recieve payment in full. Of course this is not good for them because they get no more fees from us.

Company: Fairbanks Capital Corp. aka WMC aka Loan Servicing Center
Country: USA
State: Utah
City: Salt Lake City
Address: 3815 South West Temple
Phone: 8888186032

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