Complaint Review: Fairbanks Capital

i have a problem with this whole thing these are more less modified laws already in place and they dont listen to them. lets just say these go in place with fairbanks the would owe me just in penalties for porced placed insurance disputes almost 10,000 $ ya ok like ill ever see any of that. thats not to say what they would owe me in bpo fees of witch are illeagal in my state and have been notified by my att. several times and they still do them on my acc every 10 day and as of yesterday were still doing them so wheres the change. to me if they wanted to show change the higher up would put a stop and disist order on all company fees till such time the could be reviewed for relavance. not to mention the several thousand $ they cost me at christmas time you know the money i should have been spending on my childrn but i wasnt i was giving it to fairbanks to stop foreclosure on my home .ya they want to comp me how about my children . and heres the real kick in the teeth with the whole deal they wanted this money for insureance that and i quote thay had proof of and was dropped but the balance wasnt removed so im still respocible to pay it lmfao . thats fair huh take my home for something i dont even have . oh heres a good one as well tell me to have my wife become a hooker to take care of my bills and we wouldnt have this problem. when do i get comp for that? or how about the drive by and knock on the door just came to see if ya still lived here stops by fairbanks on my daughters birthday during her party when does she get comp for that?

hell for that fact when do my kids get thier daddy back because i have to work 2 jobs too keep up with fairbanks 1000 in god knows for what fees a month. hell my lawyer has asked repeatidly for break downs of all the fees i owe and all she gets is a payment history but when we call i owe 1000s of $ in corp advances and no one knows what they are for. when do i get comp for that

People,
Lets all calm down a bit. Craig and Brian have NOT sold out. The fact is that they and we have won.

Consider:

If Fairbanks and PMI were to go under, while we would have a moral victory, there would not be any money left to compensate us for our damages. Instead both companies are now in a position that in order to regain the Ratings required for their continued existence and profitability they MUST settle all Government problems, class actions, and private litigation. They MUST revise their practices to conform to all pertinent regulations. And they HAD to cut a deal with Craig and Brian, as their litigation was the most visible. Part of that deal put these two in the Cat Bird Seat. As far as our grievances go Craig and Brian are going to be able to call some of the shots.

If Craig and Brian get a few bucks out of the deal, so what. The have spent 16 hours a day, 7 days a week, and hundreds of thousands of their dollars, getting all of us to the point where Fairbanks and PMI have now admitted that mistakes were made and have promised to not only clean up their act but to compensate borrowers who have been damaged. You must understand that there are most likely tens of thousands of us in that group and that it will take a considerable amount of time to even determine who, what, when and how much is involved.

I was up in Walnut Creek with them last week. While I was not privy to their discussions with PMI I am confident that they are on our side. I have been in email contact with Craig since this chain of events started and know that he is still out there working for us. Since he is not at the moment at liberty to express his thought publicly let me give you a little glimpse from a recent email

It all comes down to one thing: what I in the best interest of the borrowers and of course the litigants. If Fairbanks were to fail there would be nothing for anybody. I have spent 14 hours a day for the past 2 1/2 years trying to bring a change. It appears a change is on the way. In the past all I could do is have people file complaints they couldn't write and hire lawyers that they could not afford. Naturally the big question now is where is all the money going to come from. Give me a few days and I will find out.

We should have a new kinder, gentler site up and running in a few days. Hang in there and continue the fight. I'll keep you fully posted.

These are hardly the words of a Sell Out. Some of you may know that I too have a Federal Suit against Fairbanks. I have no intention of dropping it any time soon. It is my hope and belief that Fairbanks/PMI will settle my suit fairly and those of all the others who have filed against them. It is also my hope and belief that they will attempt to compensate all those who have been damaged by their actions.

Craig and Brian have started work on a Borrowers Bill of Rights. Instead of flaming these guys lets help them. Here are my suggestions for the Bill as well as a suggested pledge to borrowers from Fairbanks/PMI. Why not add your own suggestions and see if we can help our cause rather than just complain.

LA_Bill
Los Angeles, CA

Borrowers Bill of Rights

1. Borrowers have the right to be treated with courtesy and honesty.
2. Borrowers have the right to a full explanation of all charges added to their account.
3. Borrowers have the right in the event of a contested charge or payment that no negative entries will be posted to the customers credit bureau file until a full investigation of the facts can be completed and all parties agree to the factual issues.
4. Borrowers have the right to request a complete accounting of their loan account at no charge. Said accounting to be provided via FAX or Mail within 3-business day of the written request.
5. Borrowers have the right to have all payments to their account posted on the date of receipt.
6. Borrowers have the right to their peace and privacy therefore no collection calls will be made prior to the expiration of the contractual grace period associated with their loan.
7. Borrowers have the right to written confirmation of all correspondence mailed or faxed within 24 hours of receipt. Said receipt to be issue specific rather than a form letter.
8. Borrowers have the right to expect corrections made by Fairbanks, as regards billing and payment disputes, to reflect accurately in their credit reports.

Fairbanks Capital Corp. Pledge to All Borrowers

1. All borrowers will be treated with the respect due valued customers at all times.
2. All payment disputes will be addressed immediately upon presentation with a letter of confirmation stating the specific dispute mailed or Faxed within one business day of initial presentation.
3. In accordance with FDCPA no derogatory notations will be placed in a clients credit report regarding a disputed issue till such time as the dispute is settled or the issue confirmed.
4. At no time will any charges be added to a borrowers account unless the specific charge is stated in the Borrowers loan agreement or deed of trust.
5. In the event of a borrower default Fairbanks will make all appropriate efforts to find a means to prevent a foreclosure. Additionally, in the case of a contested issue, Fairbanks will not initiate a Notice of Default nor begin foreclosure proceedings until such time as any and all disputed issues are resolved in accordance with FDCPA, RESPA and all other State and Federal regulations affecting the loan in question.
6. In the event of a situation where Fairbanks records and those of a borrower differ, proof of payment in the form of a canceled check takes precedence. Such proof is to be sent via US mail, or FAX. As does proof of insurance coverage mailed or Faxed by representative of the respective insurance company. Confirmation of receipt and correction of the posting error is to be made by Fairbanks within one business day. For each day thereafter that correction has not been made Fairbanks Capital Corp will post the equivalent of one months late charges against the principal balance of the account in question.
7. Fairbanks Capital Corp. will make a Good Faith effort to correct, in a timely manor, all errors brought to their attention by current borrowers or those with whom they have previously had a relationship. Correction of errors should include but not be limited to:
A) Repayment of all fees that are/were not part of the Borrowers initial loan agreement.
B) Correction of inaccurate negative posts for late/non-payment posted to the borrowers credit bureau reports.
8. Fairbanks will attempt to contact Borrowers who have lost their home to foreclosure by Fairbanks actions and with the assistance of Borrower records do a full audit of the account to ascertain if the foreclosure was justified. If it was not Fairbanks will take whatever actions are necessary to make the Borrower whole again. Said actions to be determined by an impartial mediator.
9. Fairbanks will attempt to contact Borrowers who have had to file a Bankruptcy action to forestall foreclosure by Fairbanks. An independent auditor with the assistance of Borrower records will do a full audit of the account to ascertain if the foreclosure was justified. If it was not Fairbanks will take whatever actions are necessary to make the Borrower whole again. Said actions to be determined by an impartial mediator.
10. It is the goal of Fairbanks Capital to be the most Consumer Friendly player in the mortgage servicing industry. And Fairbanks Capital will take any and all steps in accordance with sound business practices to accomplish this goal.