Fairbanks Capital Corp ripoff fraudulent reporting against RESPA regulations fraudulent forclosure proceedings threats false reporting against individual credit and accounting records Jacksonville Florida
My loan was originally taken out, with a company called First Franklin. My loan was for a purchase, consisting of 100% financing of a 1st mortgage 80% l.t.v. and 20% l.t.v. second mortgage. My loan was being serviced by a company called Option One, located out of Irvine California. I am a licensed State of California Real Estate agent. I am familiar, but not expert on RESPA regulations. Per Option One, my loan was just transferred to Fairbanks Capital Corporation, a company headquartered in Salt Lake City Utah, with satellite servicing offices.
Per Option One Servicing Company, ALL RECORDS WERE TRANSFERRED to Fairbanks Capital Corp. as of October 2nd, 2002, for my second mortgage only. Option one is still servicing my first mortgage.
Fairbanks Capital sent me a "congratulatory letter" stating that my loan had been transferred. The date of this letter is: September 17, 2002. I have diligently paid ALL my mortgage payments and have not paid a single payment late. Fairbanks Capital sent me a letter stating that my September 2002 payment was not made. They requested a copy of my bank statement to prove that the payment had been made, as well as a letter with the dispute, which I did. I faxed this information to "their" customer advocate: 904-232-4608. This was done last week.
I also made numerous calls, tried to pay my October payment by phone and internet service to no avail. After getting cut off, not able to speak to anyone, I spoke with a fellow who called himself "Mr. Calhoun." He was working in their "collection" department. I paid him a check by phone and he charged me additional fees. I paid only one payment, since my September payment had been made and I owed on only one more payment for the current month.
He said that "Fairbanks Capital is a fair company and would credit any mistake to my account." (Ha! How come I don't trust this company?) Today, October 12, 2002, I received a DEMAND LETTER - YOU COULD LOSE YOUR HOUSE - to my home address. It states that this letter is a formal demand to pay the amount due. Now, the amount they are saying due (which is actually NOTHING THAT I OWE THEM) is $940.73! The date of this letter is October 4, 2002. Now, they are doubling a charge against me! Again, I have paid all my second mortgage payments on time. Option one has the correct amount, Option One says they have forwarded my information to Fairbanks, I have faxed a letter along with my bank statement as proof of payment, AND FAIRBANKS IS STILL FALSELY REPORTING ME!
I have also sent a certified letter, which I had notarized to tell them to STOP THE FALSE REPORTING! These unfair business practices are against the law!!! Unfortunately, I am seeking the help of an attorney this next week, since my credit rating, as well as HOME is at stake!
I hope everyone that reads this will report Fairbanks Capital to the Better Business Bureau, as well as contact your local government officials to stop this unfair harassment of people. Please share any and all information on this site, so we can all unite and help each other.
Denise
Murrieta, California
1 Updates & Rebuttals
Jose
Federal Way,Washington,
Keep Very Good Records
#2Consumer Suggestion
Mon, October 14, 2002
I feel your pain. Fairbanks Capital is a company that will rip you off in fees.... I had the same problem with Fairbanks when my second mortgage was sold to them from US BANK. It took me 3 and a half months to get the problem fixed. I had to contact a local TV Station before they corrected their errors. After the airing of the broadcast with my problem they quickly fixed the errors.
I had contacted a attorney before I called a friend that works at a local TV station. Fairbanks gave my attorneys the run around and it was costing me lots of money to fight this company.
You will need to make sure that you keep all records of all conversation you have with Fairbanks.
Keep all records that Fairbanks mail to you. Also make sure you keep all the records of the company that held the loan before Fairbanks.
I would also suggest that you call your State General Office. The Attorney General may be investigating the company already. Or you can just file your own complant
My experience with the BBB is not a good one. I would not waste my time contacting the BBB.
Also please watch all fees that Fairbanks charges. They were charging me a fax of .64 cents a month for 2 months before I called them. Once I called them they wanted me to write a letter to their Customer Advocate Department to investigate. I have never faxed them anything
Also watch how they apply your payments. They have a history of over charging on Interest. Fairbanks does not apply the payments properly. So make sure you calculate your daily interest.
Also a trick that I learned is to call your payment in over the phone each month. They may charge you $15.00 but it's cheaper than the daily interest you will pay by mailing your payments.
I am also one of those customers that pay my payment on time each month. I have never been late. I don't understand why they give us such hard time. We are not asking them to give us anything.