Fairbanks Capital Corp
1099-INT Understated Interest Paid by $3,405 and Escrow Failures

On the last day to expect your 1099-INT, so that you may get started on your previous year's income tax return, is it surprising to find that the amount of interest income claimed by Fairbanks Capital Corp is $3,405.18 short of what I've actually paid? Looking over my previous year's statements and adding all the interest credited for the 4 months that Fairbanks held my mortgage in they claim I paid only $25.70 in interest when I paid in excess of $3,400 according to their own monthly statements.

This is only the most recent problem in a long list of issues that have plagued all monetary dealings I've had with Fairbanks.

First, they "forgot" to pay my Homeowners Insurance Premium out of escrow. Only when I received a cancellation notice from my insurance company, of whom I've been a customer for 25 years, did I have any idea that something was wrong.

Second, I received a notice from my local tax office, that my property tax installments were not being paid out of escrow. Immediately I contacted Fairbanks and to no surprise, I was transfered, given another number to call, put on hold and then transfered again only to be told that I needed to call another number and speak with someone in the tax office! To make a long story shorter; after numerous calls, registered letters and formal complaints to the Fairbanks Capital Consumer Advocate Unit; I began to get threatening letters from Fairbanks demanding that I show proof that the property taxes were paid because they had received "notification of seriously delinquent taxes due"... After my house was advertised for public auction, only then did the property taxes get paid out of my escrow account, well after the due date.

Then to receive a 1099-INT with $3,405 worth of interest paid, missing? Where and when will this end? As hard working, honest consumers, can we ever expect to receive the services we pay so much for?

Company: Fairbanks Capital Corp
Country: USA
State: Utah
City: Salt Lake City
Phone: 8002588602

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