Complaint Review: EMC Mortgage

I also experienced Mortgage Hell when my mortgage was sold to EMC. After contacting some folks and major recordkeeping on my part, it has all been resolved.

Here is how I did it:

1) I called the partne company, which is Bear Stearns, in New York. At the moment I left my EMC file at home, but I simply looked up the number and then explained to the operator what my call was concerning. I ended up leaving a message for a guy in the compliance department. I never got a call back from him, but I did get one PDQ from someone at EMC.

2) There was back and forth-ing between the EMC contact and myself. I won't give out her name because she genuinely helped me and I don't want her bombarded with calls from people who haven't gone through the pipeline.

3) I made a spreadsheet going over EVERYTHING, including logging times, dates of calls, who I talked to, etc. More importantly, I listed every single financial transaction with my prior lender and with EMC (based on my documents as well as EMC's reports they printed for me).

4) I sent the spreadsheet to my EMC contact and she got with accounting and they fixed it.

Now they have my mortgage flagged so it gets handled properly.

Throughout this process I was treated politely and respectfully and did my best to return the favor. It was difficult at times because this is of course, a very emotional and important issue. However, with an optimistic outlook, perseverance and a little work, it can all be resolved.

I do seriously suggest contacting Bear Stearns. Complaints on sites such as this are wonderful for alerting other consumers. I found it invaluable in discovering that my situation was not unique and I also emailed the site info to EMC so they could see how their customer treatment was (not) working. The downside of sites such as this is that often the people who will act to put out fires don't get to see the complaints, as they are fielded on much lower levels and rerouted (can you say CYA??).

Do please contact Bear Stearns. New York. Compliance Department.
Throw into the conversation:
a) EMC Mortgage
b) you have complaints about illegal/fraudulent activity
c) they are not complying with state/Fed laws
d) you are trying to work it out before seeking litigation against EMC and its parent company for failing to address your issues.

My very valid reason for saying they were not in compliance re the law was that they violated the grace period of 90 days after the transfer of a mortgage to dun mortgagees for late payment (which in my case had already been paid). It is very helpful to be able to recite chapter and verse on whatever laws affect you.

As I maintained repeatedly to both business entities- I shouldn't have to be the one doing the legwork on this. But you know what? I did it and it worked. The folks at EMC told me that the spreadsheet was very helpful to them in trying to figure out what was going on with the account. So it was worth the time and effort.

I do very sincerely hope that everyone receives the assistance that I did and everything is resolved to your satisfaction.

Good luck and many blessings to you.

Sigrid
Houston, Texas
U.S.A.