When Mortgage Servicers Make Mistakes

I have a new mortgage servicer and my experience has been nothing but an annoying nightmare. Perhaps this is a good time to review what the federal government says about mortgage servicers. A key point is professionalism and no surprises. When mortgage servicers make mistakes, records get lost, payments are processed too slowly, or servicer …

Loancare Mortgage Servicing LLC posts wrong address on their own website

In an earlier article about Loancare Mortgage Servicing I questioned professionalism at Loancare. In a startling discovery relative to lack of professionalism at Loancare LLC, the postal service told me that the address for Loancare error notification is incorrect. “Expected Delivery Day: Thursday, December 15, 2016 Your item was forwarded to a different address at …

Loancare Mortgage Servicing Professionalism Is Questioned

I was informed by RoundPoint Mortgage Servicing that my mortgage has been transferred to Loancare LLC, a Servicelink company. RoundPoint is very professional. Roundpoint also informed me that my mortgage payment would decrease due to an escrow overage and escrow analysis. Loancare says they never got the memo. Loancare further stated that my mortgage payment …

Root cause of current global financial crisis

Our friends at BBC News explain what caused the global financial crisis, mortgage crisis, and lending crisis in a great and simple way: US mortgage-backed securities were the investment products that sparked the global financial crisis in 2008. In essence, each security or bond was linked to pools of US mortgage loans, many of which …

Phony Indian Debt Collector Scam

This scam originally targeted borrowers in the United States but has been used in other countries. Victims are those who use or used payday loans, pawn your title loans, or variations of such short term loans. Preventing the scam is easy if you know who you owe money to. Consumers received millions of collection calls …