Litton Loan Servicing skillfully rips off customers. They do this by deliberately lying to their customers. They do this by deliberately making mistakes in their own favor. They do this by deliberately ignoring customers' rightful protests of indignation. And finally they deliberately cause their customers to spend inordinate amounts of uncompensated time attempting to correct these costly mistakes.
Prior to I had never heard of them. Then in May I received a letter from Fremont Savings and Loan stating that effective June 1, my loan would be serviced by Litton Loan Servicing.
No big deal, I thought! The terms of my mortgage are all elaborated in my promissory note. I'll just continue to make payments in a timely manner.
Boy was I wrong!
In August my ordeal with Litton Loan Servicing began in earnest. I received my first false letter from them. My loan payment, they stated, would increase by more than $800.00 per month because as per the terms of my loan with Fremont, they are required to escrow my property insurance.
Immediately I return - faxed Litton Loan Servicing a letter advising them that per the terms of my note, I was not required to escrow insurance. I had never escrowed insurance with Fremont and I did not wish to start.
This explanation was not satisfactory to Litton. Their next letter stated that it would take up to 90 days to research my assertion.in the meantime they stated I should pay the additional $800.00 per month... Yeah right!
Again, I called them. It was outrageous for me to add $800.00 per month on to my mortgage payment for their mistake. I refused to make the additional payment.
In August and September Litton sent me statements showing the additional funds due. I ignored their statements; I paid only my normal monthly mortgage amount -excluding the insurance.
Then began the incessant telephone calls from Litton. Every time they called, I patiently explained over and over again to them that this was not my problem. I was paying them the amount that I was legally obligated to pay.
With each of these calls they advised me that I would still have to pay. One time they even hung up the phone on me.
In September Litton mailed me a second false letter. They referenced my promissory note which they stated was enclosed (no note was enclosed) and stated that in fact I did owe the additional insurance money. Again I wrote them a letter requesting a copy of the note that they stated was enclosed in my letter. Now comes October. Another letter requesting yet an additional 60 days to send me a copy of the note.
More telephone calls from Litton. More ridiculous conversations.
I kept on thinking that my protests would merit the attention of a supervisor somewhere who would straighten everything out. But that did not happen.
Finally On October 16 someone partially listened to me. I spoke with a woman who stated that she could straighten out this entire mess.in order to do this, I would have to fax her a letter authorizing her to transfer escrow surplus funds to my mortgage payment and pay Litton an additional $60.00. I asked her why she was charging me $60.00 more and she stated that I needed this amount to have my account balanced properly. I paid this sum and then immediately requested an accounting of my mortgage payments.
What I shock when I received an accounting. Litton had the nerve to charge me a late penalty!
So far I have written 2 letters protesting the late charge. Litton has not even had the courtesy to acknowledge these letters. Now I am being ignored.
Just a few days ago, I t received a letter from a credit reporting agency that Litton filed a derogatory report showing that I was late on one payment. What nerve those people have!
But, I still have no ending to this story. Like a long running soap opera the issues go on and on.
Who owns Litton Loan Servicing? Who is responsible for setting policies? Does any governmental agency regulate them? If there are so many nightmarish stories reported on the internet about them, why something can't be done.
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