While seeking to re-finance our Loan with Fairbanks, they refused to give "pay off info" to our Title Company after letting several weeks of interest accrue, before being re-contacted by the Title Company. Then Fairbanks said that the Borrower needed to contact them to get this pay off balance. My Title Company assured me that this is a very common practice of Fairbanks. I contacted Fairbanks directly, at the advise of our Settlement Officer. When contacted, Fairbanks said that they need an additional 5 days, from that point, to process the pay off.
Their intentional "run-a round" and delays in getting this information to our Title company caused us several thousands of dollars in additional interest expense and still did not include escrow information. They obviously had much to gain by refusing and delaying sending out pay off information to us and our Title company. They are Intentionally inflicting great financial harm to Consumers... Why isn't the Banking Commission or some other applicable Agency putting these Thugs out of business? How Can They Get Away With This Piss Poor Business Practice???
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