Last year our loan was transferred out of Equicredit to the "loan processing center" other wise known as Fairbanks Capital Corp. From that April until August I fought each month for a statement and received each month a late statement. When I had a credit check performed I was told it was coded by them as a "mortgage in foreclosure." Not once had I been late with them and I was having a terrible time getting any information.
I began certifying all payments and formally demanded resolution to the misrepresentation on my credit report. I quoted the RESPA guidelines and documented each time I communicated with them the fact they did not adhere to these guidelines.
I refinanced in December of and it was very hard getting payoff information from them. I am so glad we are rid of them, but had I not been on top of this I beleive they would have put us into foreclosure. I have yet to get my credit report corrected and am at a loss as how to get his company to react according to their legal obligations.
Beware consumer. If your loan company is planning on selling your mortgage to this company fight it. Do not deal with this company if you are looking for help. My understanding is that they are not lenders, they service other companies loans.
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