America's Servicing Company Late Payments? Is this the same company? Frederick Maryland
Several months ago my home mortgage was sold to or transferred to America's Servicing Company (ASC) from BNC Mortgage. So, I now make my mortgage payment to ASC. I was notified by mail about the transfer or sale or whatever and had no problem with it until recently.
I work for the State of California and only get paid at the end of the month or 1st of the month, depending on how many days are in the month.
My mortgage payment is due on the 11th of the month and I send out my payment no later than the 3rd of the month, in the form of a cashier's check.
2 months ago I mailed out my payment on the 3rd, as usual, and shortly afterwards I recieved the next mortgage statement. I was stunned to see that I was being charged a $125 late fee! I looked closer and found that my previous payment wasn't posted by ASC until the 16th!
I contacted "customer service" and explained my concern to them. I was told that payments are picked up on a daily basis, from their P.O. Box, but couldn't get a clear answer on when those payments were posted. I asked why consumers were not given the benefit of the doubt by looking at the post date on the envelope and going by that? I was, in a round about way, told that my payment MUST'VE been mailed late, otherwise it would've been posted prior to the due date and I wouldn't have been charged a late fee. The late fee was waived and I was warned that that ASC would waive the fee only once a year!
It was then suggested to me that I should mail the payment in earlier, use USPS overnight shipping or make the payment by phone. I explained that given the day that my previous payment was posted by ASC, that I'd have to mail in the payment on or about the 25th of each month and with my luck that's when ASC would become efficient and post the payment on time and then I'd be charged for a returned check AND possibly a late fee too! I told them that I couldn't believe it could take 13 days for my payment to be recieved and posted by ASC. Needless to say I didn't recieve much help except to be told that I could make the payments over the phone and would be charged $15 for doing so or $20 if I use the assistance of a "customer service" representative or could arrange for the payment to be automatically deducted from acccount every month(which I do not want to do)! $15 a month = $180 per year and $20 = $240. I can think of better things to do with that money rather than being bullied into HAVING to use their system to make more profit from me than they already are!
ASC does not provide a way to make payments online, nor are there any local establishments where I could make a payment. It seems as if they are purposely making it difficult for me to make a payment to them on time and are going to get more profit out of their customers one way or another. Is it just me or are there others out there having the same problem?
Also I did a search for ASC and found this web address;
http://www.ascservicing.com/publicSvlt///nav/PublicHomeNavL1.jsp/requestPage/public/Home.jsp
is this the same company that is associated with Ocwen?
Any suggestions will be appreciated
Danny
La Mirada, California
U.S.A.
5 Updates & Rebuttals
Hollis
Bend,Oregon,
U.S.A.
America's Servicing Company is part of Wells Fargo
#6Consumer Comment
Thu, November 11, 2004
My loan was sold from CIT Finance to America's Servicing Company last year. The transition was not very smooth, as it took a very long time to receive information about my account and payments. One of the first things they did was move my payments from the 14th to the 10th because they said my paperwork stated that was the case, although CIT put it on the 14th for whatever reason. I did find out that they are a division of Wells Fargo, and what connection to the above mentioned company is not known.
I make my payments over the phone and am charged $12.50! I do this because the very first check I mailed to them took three weeks to cross the country. I used to pay my old loan company online and it was so easy. Yes, you can get a pin number for America's Servicing company to view your account online, but you need to call them and request it.
By paying online on time, and requesting a pin number for the web site, I have not run into any of the "late" fee probelms mentioned by the other complaintants. I am not happy with this company, but am not able to re'finance at this time, so I just have to sit tight and make lots of noise when things go wrong. That way, you become your own advocate, taking care that things happen when they should and no "rip off" company can take you for a ride unless they blatently break the law.
C.
Bowie,Maryland,
U.S.A.
OFFICE OF THRIFT SUPERVISION AND FEDERAL TRADE COMMISSION
#6Consumer Suggestion
Tue, September 28, 2004
Hey Guys--
This is another FAIRBANKS CAPITAL CORPORATION. It is time to go to The Office of Thrift Supervision and The Federal Trade Commission. I have already filed with The Attorney's General's Office, but found out after months of investigations that The Attorney General's Office does not regulate this entity. America's Servicing Company claims that they did not receive my last 3 payments that were made by cashiers checks to Fairbanks before the transfer. They also claim to have paid my 2005 taxes, eventhough my taxes were already paid prior to the transfer of the loan. They raised my mortgage payments by $500.00 per month because they said that my escow account was deficient because they had to pay the taxes, and claim that I was 3 months behind on my mortgage. They tried to foreclose on my property, but The Attorney General's Office, along with the Office of Thrift Supervision stepped in. When I tried to refinance my loan, all of a sudden they placed on my credit report that foreclosure proceedings had begun. However, all of the previous months, they reported A-1 credit. Now, my refinance is in limbo. No one ever answers the phone, no matter what time you call, or what person you try to contact directly. The only live response you will ever receive is from robotic customer service agents---not any of the account managers make themselves available. It was only July when America's Servicing Company got a website. However, the copyright date is 2002. There is absolutely no information about this company on their website. It asks for you to enter in your ID. However, none of us have ids because they never have been issued. This, my friends, is a SCAM. I BELIEVE THAT AMERICA'S SERVICING COMPANY IS FAIRBANKS CAPITAL CORPORATION. There are too many similiarities. I have lived this nightmare for 2 years. The tactics are too closely related. BEWARE.
Stephanie
Noblesville,Indiana,
U.S.A.
ACS Erroneous Payment Reports
#6Consumer Comment
Tue, April 20, 2004
My husband and I had our mortgage through Ocwen and it was sold to ASC. We didn't know our mortgage was being sold nor to whom until it was close to being due and hadn't received any payment information. After contacting the previos mortgage company several times, trying to make our mortgage payment on time as we had always done, we were told to wait and if there was a late payment they were sure that it would not reflect negatively on our credit! WRONG!!
We finally received notification about the company change to ASC, payment information and our first coupon 3 weeks after our payment was due. We sent it in the day we got it and also called ASC to advise.
We were promised that there would be no negative impact on our credit as a result of this situation. The next coupon came on time and included a late payment charge on the invoice. We called ASC and complained, remonded them of the conversation we had previously.
They agreed to remove the charge and we were assured once again that there would be no negative report to the credit bureau.
10 payments (on-time) later we begain to refinance our house and the mortgage company we were using advised that there was a late payment reprted from ASC that very first month!! This was going to be a problem unless they could call ASC and get them to agree to remove it. They agreed to remove the late payment from the National Credit Reporting Agencies. We proceeded with the refinance.
3 months later we attempted to finance a new RV and were told by the bank that there were "2" late payments reported by ASC, the very first payment (the one they promised to remove) and the very last payment (the pay-off that was delayed 2 weeks by the title company in preparing the closing work for the payoff)!!!!!!!!!!!!!!!!!!
I am furious about this and am making a call today to ASC to attempt to get this resolved once more...I am going to go to the attorney generals office if I can't get written agreement that they will rectify this situation.
****************Stay Tuned****************
Stephanie
Noblesville,Indiana,
U.S.A.
ACS Erroneous Payment Reports
#6Consumer Comment
Tue, April 20, 2004
My husband and I had our mortgage through Ocwen and it was sold to ASC. We didn't know our mortgage was being sold nor to whom until it was close to being due and hadn't received any payment information. After contacting the previos mortgage company several times, trying to make our mortgage payment on time as we had always done, we were told to wait and if there was a late payment they were sure that it would not reflect negatively on our credit! WRONG!!
We finally received notification about the company change to ASC, payment information and our first coupon 3 weeks after our payment was due. We sent it in the day we got it and also called ASC to advise.
We were promised that there would be no negative impact on our credit as a result of this situation. The next coupon came on time and included a late payment charge on the invoice. We called ASC and complained, remonded them of the conversation we had previously.
They agreed to remove the charge and we were assured once again that there would be no negative report to the credit bureau.
10 payments (on-time) later we begain to refinance our house and the mortgage company we were using advised that there was a late payment reprted from ASC that very first month!! This was going to be a problem unless they could call ASC and get them to agree to remove it. They agreed to remove the late payment from the National Credit Reporting Agencies. We proceeded with the refinance.
3 months later we attempted to finance a new RV and were told by the bank that there were "2" late payments reported by ASC, the very first payment (the one they promised to remove) and the very last payment (the pay-off that was delayed 2 weeks by the title company in preparing the closing work for the payoff)!!!!!!!!!!!!!!!!!!
I am furious about this and am making a call today to ASC to attempt to get this resolved once more...I am going to go to the attorney generals office if I can't get written agreement that they will rectify this situation.
****************Stay Tuned****************
Stephanie
Noblesville,Indiana,
U.S.A.
ACS Erroneous Payment Reports
#6Consumer Comment
Tue, April 20, 2004
My husband and I had our mortgage through Ocwen and it was sold to ASC. We didn't know our mortgage was being sold nor to whom until it was close to being due and hadn't received any payment information. After contacting the previos mortgage company several times, trying to make our mortgage payment on time as we had always done, we were told to wait and if there was a late payment they were sure that it would not reflect negatively on our credit! WRONG!!
We finally received notification about the company change to ASC, payment information and our first coupon 3 weeks after our payment was due. We sent it in the day we got it and also called ASC to advise.
We were promised that there would be no negative impact on our credit as a result of this situation. The next coupon came on time and included a late payment charge on the invoice. We called ASC and complained, remonded them of the conversation we had previously.
They agreed to remove the charge and we were assured once again that there would be no negative report to the credit bureau.
10 payments (on-time) later we begain to refinance our house and the mortgage company we were using advised that there was a late payment reprted from ASC that very first month!! This was going to be a problem unless they could call ASC and get them to agree to remove it. They agreed to remove the late payment from the National Credit Reporting Agencies. We proceeded with the refinance.
3 months later we attempted to finance a new RV and were told by the bank that there were "2" late payments reported by ASC, the very first payment (the one they promised to remove) and the very last payment (the pay-off that was delayed 2 weeks by the title company in preparing the closing work for the payoff)!!!!!!!!!!!!!!!!!!
I am furious about this and am making a call today to ASC to attempt to get this resolved once more...I am going to go to the attorney generals office if I can't get written agreement that they will rectify this situation.
****************Stay Tuned****************