Fairbanks bought my loan from CountryWide Mortgage. Fairbanks refuses to acknowledge contractual grace periods. They call and harrass you all hours of the day and night beginning the 2nd of the month if you have not paid. They will hold payments in suspense and then post payment after expiration of grace period, thus incurring late fees.
Recently they applied my May payment to April, even though April had already been paid. They then charged me a fraudulent late fee. I called them to correct this mistake and was assured it would be rectified. I went back online the next day to discover that my records now reflected that I was 2 months behind instead of 1 month even though I was actually current.
The customer service people are powerless and their collection department is rude and obnoxious. They actually advised me that there is no such thing as a grace period and that if payment was not received on or before the 1st of every month they would report me to the credit bureau.
Caveat to all - check your credit report! Fairbanks has been reporting credit under a different name - Loan Servicing Center and/or LSC. What's up with that?
I am interested in joining in on a class action suit with others from Florida who are experiencing problems with Fairbanks.
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