Beware of Calmco Servicing, also known as Olumpus servicing. Never ever do business with them. I had a loan with MidWest Loans, and my loan was bought over by Calmco. My last check to Midwest was forwarded to Calmco, and they misapplied it to a different account.
They started sending me threatening letters in the mail re: missing payment plus the interest and penalties. But I had cancelled check as a proof. After couple months they contacted credit bureaus and reported me as having several payments that were 30,60, and 90 days late.
I asked them to do an investigation, sending the cancelled check as proof of payment. It took them over four months to research it, in the meantime I was not able to refinance because of the poor credit score thanks to them. I kept calling them every day, even threatening litigation, to which I was getting often rude and inconsiderate answers, which boiled down to: "go right ahead, sue us, make my day". After four months or so they finally sent a letter clearing me of all the charges, and in the meantime interest rates went way up and I lost an opportunity to refinance. Luckily, rates went down again in six months or so, and I was able to go on with refinance.
In addition, my first lender was willing to do a mortgage tax assignment, which would save me over $10K in mortgage taxes (I live in NY which is probably the only state that has this lovely tax), however Calmco refused to do this simple paperwork so I had to pay Uncle Sam twice on the same loan. I was only too happy to do it, just to get away from Calmco (known as Olympus by that time). I was completely fed up and disgusted with them, to the point that when I was considering buying a digital camera, I refused looking at Olympus cameras for no other reason than the name association with the miserly loan company.
My talks with mortgage brokers and other loan professionals only deepend that impression, with loan officers unanimously naming Calmco THE worst loan company, citing examples when Calmco took beyond any reasonable time to do the required paperwork, at which time the rate locks expired, and many similar things.
I strongly urge all the consumers to stay away from Calmco, Olympus or whatever they call themselves now as far as possible, and won't recommend their business even to the worst enemy.
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