Rip-OffReport has obtained a copy of a letter sent to the media by the new CEO of Fairbanks Capital, James H. Ozanne. This letter was distributed one month ago, to several TV and newspaper reporters across the Country.
Below you will find a large portion of this letter, we will save the space below it for anyone that would like to send a return public message to Mr. Ozanne and challenge his words. We urge you to participate.
The Letter:
My name is James H. Ozanne, I am the new CEO of Fairbanks Capital Corp. Since many of you reported on or are planning to report on our company, I want to tell you, directly and personally, a few important things.
Perhaps the most important, is that we recognize that there are problems in how this company has managed the loans of some borrowers and we are determined to fix those problems.
However, I recognize that the reasons for the problems are not your primary concern. Nor are they mine. The principal issue is fixing them. So, let me tell you some of the things that we have done and are doing.
As you may know, we have a new senior management team that fully shares my commitment, as well as a new Chairman of the Board, whose comments I think you and your viewers/readers will find interesting.
We have created a Consumer Outreach Committee of our board of directors that will oversee the borrower related actions listed below.
We are conducting a top-down review of all servicing processes to see where there are problems and to allow us to fix them expeditiously.
We are publicly to resolving in a timely matter and equitable manner any existing issue with borrowers whose loans the Company services.
We will appoint a consumer ombudsman to assist any borrower who has an unresolved dispute with the company.
We are developing, with the assistance of consumer advocates, a Borrower's Statement of Rights that will be issued to every borrower whose loan we manage.
We have substantially revised our policies and practices with regards to the placement of hazard insurance, including expanding the timeline and communications with borrowers, and enabling them to provide their insurance information through many different options.
We have created a new Customer Assurance Review Department (CARD), charged with conducting a special, additional review of any loan on the verge of foreclosure. CARD will ensure that each of these loans has been handled in accordance with our policies and practices and that there are no outstanding disputes over fees, timely postings, insurance, and the like, as well as for hardship.
Though there is plenty of work to be done, I am pleased to say that our efforts have begun to produce tangible results. The percentage of loans in which there is a dispute with the borrower has declined by more then 30% over the past 2 months.
I must say that reading the coverage of this company over the past weeks and months has not been pleasant. Though everyone says it, I am not sure anyone really "welcomes media scrutiny"..
Not every story has been accurate. There have been numerous reports of allegations, based solely on an interview with a borrower, that we grossly inaccurate...
My primary responsibility is to ensure that we move forward with the Company's comprehensive plan to improve loan servicing for consumers. However, I also recognize that dealings with your questions as accurately and expeditiously as possible is a part of communicating these changes effectively with them. I am asking that you give us that opportunity.
Sincerely,
James H. Ozanne
Chief Executive Officer
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Mr. Ozanne has promised changes in this letter that was distributed over a month ago.
He also states that he believes "Not every media story has been accurate. There have been numerous reports of allegations, based solely on an interview with a borrower that were grossly inaccurate".
The above statement by Mr. Ozanne clearly proves that he does not believe us, the victims. The dozens of allegations made by borrowers, with the help of the media have been consistent and accurate with the thousands of others allegations that have been reported to the Federal authorities conducting the investigation.
Surely, Mr. Ozanne cannot help us if he denies the problems.
It is clear the Mr. Ozanne, (with the help of his PR firm) is desperately trying to silence the media. His empty promises of major improvements within Fairbanks Capital are just that, empty promises.
Usa Consumer Complaints.com has received over 100 new Fairbanks Capital complaints since Mr. Ozanne's letter was distributed, just one month ago. We also received 300 private emails from Fairbanks victims seeking help in the last month.
We want to challenge Mr. Ozanne, as the new CEO of Fairbanks Capital.
Mr. Ozanne,
You promised borrowers a bill of rights over 2 months ago, where is it?
Mr. Ozanne, you promised a top-down review of all servicing processes to see where there are problems, and to fix them expeditiously.
The "top-down" review is not working, and you are very aware of where the problems are. We recommend that you rewrite your plan. Borrowers are still having their homes taken away, fraudulently. Do you not see the urgency in this matter? Your plan to change Fairbanks and it's practices are bogus.
Fairbanks Capital holds the top position in the mortgage servicing industry of aggressive collections and foreclosures. You have proven that, to all of us.
Clearly, you can be just as aggressive in your plan to correct Fairbanks ongoing illegal actions against borrowers.
Mr. Ozanne, you stated in your above letter that the percentage of loans in which there is a dispute with the borrower has declined by more then 30% over the past two months.
That statement may actually be true, borrowers are no longer calling Fairbanks Capital to dispute ongoing issues with you're abusive representatives. Borrowers are now filing lawsuits with the help of the many lawfirms across the Country that are now eager to help.
Your commitment to resolving existing issues with borrowers in a timely and equitable manner is not showing true.
The whole Country is watching, when do you plan to fill you're promises?
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If you are a victim of Fairbanks Capital, and would like to comment on the letter by Mr. Ozanne, posted above, please do so using the rebuttal box below. If you would like to file your own Rip-offReport on Fairbanks Capital, please use the link provided "File a Report".
We also urge you to contact the stations listed below that recevied this letter from Mr. Ozanne.
Let the reporters know that you are still a victim, and their help is still needed in uncovering the mortgage service abuse!
WBAL - [email protected]
WIVB - [email protected]
WPEC - [email protected]
Media Blitz II coming soon!!!
SS, consumer complaints Consumer Advocate
Tempe, Arizona
U.S.A.
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