Long story short... April my loan was sold from EMC to ASC. July ASC failed to pay the renewals for my homeowners insurance and flood policies even after confirming the corrected insurance providers with adequate escrow funds available. August I received the first letter from ASC that my policy lapsed due to non-payment and canceled July 13 months later.
Immediately, I place a new home-owners policy which tripled in price and open an official complaint with ASC which they acknowledged August 8 sending a copy to the Office of the Comptroller of the Currency. FL statues states if escrow funds were sufficient and payment was not made, then the servicer or lender is responsible for the different in premium increase.
January ASC placed a hazard policy for the lapsed period of June to July deducting the cost from my escrow account without reimbursing me the credit due. February ASC sent me an escrow adjustment increasing my monthly payments without considering the reimbursement due and I called to complain. I received a letter from the Office of the Comptroller of the Currency Administrator of National Banks acknowledging receipt of my complaint August 10.
The OCC contacted ASC to inquire about the issue of the lapse insurance. The OCC's letter stated that ASC will absorb the cost of the lender placed hazard policy during the period for which there was a lapse of coverage. March I contacted ASC since I have not received resolution from the ongoing complaint from August and demanded a reimbursement of the $5,029.95 to cover the cost of the lender placed policies and the difference in premium for the 1st year. I called ASC the end of March and found out ASC made a partial reimbursement payment to my escrow of $3,877.03 on February 21 with no explanation provided.
May I wrote to ASC stating that I would not pay any increase in premium until the correct reimbursement was made and that I would hire an attorney if the correct reimbusement was not paid in full by end of May. June I hired an attorney. July ASC made a reimbursement of $35.00 to my escrow account and started suspened my mortgage payments and charging late fees.
ASC also started mailing me letters stating that I am serious defualt. Several letter continued back and forth with no settlement or resolution to the negelance and mis-management of my escrow and policies. ASC has never acknoledged their responsiblity to replace my flood policy which they deny the mandatory flood zone changes that took place April and my property is still unprotected regarding flood insurance.
This whole thing has just drained me emotionally and physically. February ASC is trying to get me to do a loan modification which I will not agree to absort the costs related to the mis-accounting on ASC part of my payments and erronous fees and charges ASC has charged me. Then they sent me paperwork to do a short sale. Now March ASC has recalulated my premiums to the amount I've been paying all along. It has never been my intention to sell this property and ASC negelence has cost me greatly.
I need help in finding the right attorney to help me set this abuse of power straight. I'm not the only victom in all of this since ASC is defrauding the mortgage investor too creating a default when their never should have been a default situation. I have all documents and proof of ASC admitions. Please, someone with a heart and ETHICS like me help me shut down ASC. If they fail, cheat and commit fraud - they should NOT have a license to do business! I'm sorry for my poorly written report... I'm just drained and re-hashing all of this is very hard to do.
Theresa
Land O Lands, Florida
U.S.A.
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