For the sake of brevity I will keep my nightmare short.
My mortgage was bought from PNC and my American Dream was destroyed. During round 2 of this battle, I sent my payments overnight mail through the US Postal Service with signature required. I had a constant fight once a month about late fees and produced the documentation.
Then they lost three payments consecutively! I was called and harassed and forced to produce (sometimes the same) documentation repeatedly. I was also told that I needed to send the entire amount via Western Union to cover my default until those checks were found. NO! They found one a month after it was sent, then another one just showed on the computer (but the check was lost in space and they wanted a copy of it) and they were still looking for the third!
But while they were looking, my account had been referred to loss mitigation and I was told that they do not accept payments when it is in that God forsaken region of no mans land! It does not matter that it is through their negligence and you can prove it.
Don't even try to get out from under these people with another mortgage company as this is immediately posted on your credit report. I had had enough since this was not the first time that they had tried such a stunt and had to back off. I am not on their payroll and I got tired of trying to keep a multibillion-dollar company's paperwork in order because they can't.
There is not an attorney that will take this on. There is not a state or federal consumer agency that can or will do one thing about it and I do have their letters to back my statements. Most anti-predatory lending laws have no teeth and make no mistake they have read them and know how to get around them. Getting drawn into a conversation by phone also removes your consumer rights as you are considered in a work out agreement when you do! Your congressperson can only go so far with an inquiry, which will start another vicious cycle of ever widening concentric circles for you to run in, most of the time without results.
I have used the Freedom of Information Act to get a lot of information that you would not ordinarily get. I went this way to get a statement from HUD (federal agency) because they were drawn into this bizarre disaster for a second time and it was particularly difficult!
When you send any written correspondence to any company to include WaMu requesting information, make sure that you keep the following statement included: If you deny all or any part of this request, please cite each specific exemption you think justifies your refusal to release the information and notify me in writing of appeal procedures available under the law. Make sure that you send it registered mail through the US Mail.
After you get ALL of your documentation, receipts, and bank operations reports together, make your copies and send those here:
The Honorable Larry D. Thompson
Deputy Attorney General
US Department of Justice
950 Pennsylvania Avenue NW, RM 4109
Washington, DC 20530
They can't do anything if they don't know about it! These people are also on the Presidential Task Force Against Corporate Fraud and Abuse. I sent a 9-page letter with copies of all my documentation and proof. It takes time but they are working on it and it is too late for WaMu to correct any record keeping errors or "issues" as far as I am concerned!
Then go here and read:
http://www.justice. Gov/dag/cftf/corporate_guidelines.htm
The following article may make you feel a little better if you pay attention to the statements about the "problems with record keeping" and "process and systems issues contributed to imprecision in our tracking of loan commitments." Geee. Do you think they are talking about our accounts?
Washington Mutual Warns On mortgages
By Greg Morcroft, CBS. MarketWatch.com - Sept. 9 cbs. MW
Mortgage giant Washington Mutual warned Wall Street analysts and investors Tuesday that it will book a loss on the sale of mortgages due to rising interest rates and problems with record keeping. "In the current interest-rate environment, we expect that gain from mortgage loans will be significantly lower than in prior periods due to the decline in applications, " CEO Kerry Killinger told an investment conference in New York. "This effect has been heightened in the current quarter by operational challenges in our mortgage-banking business. Several process and systems issues contributed to imprecision in our tracking of loan commitments." Seattle-based Washington Mutual (WM: news, chart, profile) said it's identified the problem and put remedies in place. Killinger offered no further details. The company's shares closed off by 2.1 percent to $38.. 81, after falling as low as $38.01 earlier in the session. Washington Mutual also said it's still closing a lot of loans made before a recent spike in interest rates, while acknowledging that new applications are off about 40 percent from July. There's also been a jump in customers applying for adjustable rate loans, up to 44 percent in August from 27 percent in June.
Then there is this one and it really sounds familiar:
http://www.ftc. Gov/opa/11/fairbanks.htm
It may be too late to save your home, but it is not too late to save someone else from going through the fear, embarrassment, and humiliation that we have gone through.
Hope this helps!
T
Hinesville, Georgia
U.S.A.
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