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  • Report:  #982278

Complaint Review: Nationstar Mortgage

Nationstar Mortgage My mortgage was sold to Nationstar Mortgage by First Horizon Home Loans in August 2011. I received a letter of introduction from Nationstar Mortgage, informing me that they were my new servicer. I cal Illegally accessing fees, not sending statements, lying, refusing to help me resolve issues that were caused by their incompetence Lewisville , Texas

  • Reported By:
    Belinda — Fallbrook California United States of America
  • Submitted:
    Sat, December 15, 2012
  • Updated:
    Sun, December 16, 2012

My mortgage was sold to Nationstar Mortgage by First Horizon Home Loans in August 2011. I received a letter of introduction from Nationstar Mortgage, informing me that they were my new servicer. I called them, and was told that they couldnt talk to me because I was in an active bankruptcy. I received another letter informing me that I could apply for a loan mod, and to submit all the documents requested to start the process. I started getting my docs together, when I received a Change of Terms letter, stating that as of Oct 2011 my interest rate would be 2.75% with a payment of $879.00, and my first payment of due Nov 1, 2011. I called to confirm this and was told they couldnt talk to me because of an active BK, but to send the payment. While they are telling me this, they are saying they cannot solicit me for the payment because of the BK, yet they did solicit me in writing. I sent the payment. Big mistake. I did not send another payment because I was told later that I still had to qualify for the loan mod to get those terms. Of course, the letter did not state that, and they  would talk to me so I didnt know that prior. 
 
Jan 2012 I had a forensic loan audit done for $3000 by Compliance Review Group, and was referred to a law firm to negotiate a loan mod with Nationstar. I hired the law firm for $3995, and later they added another $1500 to their fee. Within four months or so, I was approved for the loan mod. The terms are: conventional loan (principal and interest, with escrow account): 2% interest for 5 years, payment = $2352.79, due to go up to 3.5% for one year, due to go up to 3.75% for the life to the loan. Also, they put me into a 25 year loan when my loan was a 30 year. My attorney said that was because I had already been in the prior loan for 5 years. I have never heard of such a thing. My attorney did the bare minimum on my behalf. He didnt even try to get the principal reduced or any of the fees removed, and I am paying him $5400. I was told when I hired him that my payment would be about $1500 to $1800 a month, but now I am in the same boat I was in before, and I had to spend $10625.00 to save my house, and now I dont know if I will end up losing it anyway.
 
My current complaint is that I didnt receive my statement for my December 1, 2012 payment. I called to find out why and was told that they couldnt talk to me because I was in an active BK. Not true. They would not listen to me or look into the matter when I told them they were mistaken. After numerous calls to Nationstar to resolve the mistake and get my statement, I was told that they couldnt talk to me because I had legal representation. Not true. I am no longer represented by the law firm that negotiated my loan mod. The law firm contacted Nationstar to inform them that I was not. Then Nationstar told me that I had to have them mail the release form. Why didnt they tell the attorneys office that when they called?
 
The issue is still not resolved, and my payment will be late on December 17, 2012. After more calls, I finally spoke to a Rep who actually did some research and found that, supposedly, the law firm had faxed an Authorization to speak to my attorney form, signed by me and dated October 15, 2012. I know for a fact that I did not sign any such document with that date, as my loan mod had been approved in June 2012, and Ive been making payments since July 2012. I was receiving statements from July through November 2012.
 
The attorney told me that if the lender still had a cease and desist order, they would have had to send the statements to the attorney. They did not ever send a statement to them, including the December statement. The attorney also told me that the cease and desist order is automatically removed once the loan mod is complete, so there is no need to send an Authorization to remove the cease and desist. None of this makes any sense because I was receiving the statements all along, so why would they suddenly say I had legal representation after five months. There would be no reason for the attorney to send them that Authorization form at this late date because my case is closed. Nationstar is trying to cover their mistakes by blaming the law firm. The firm is looking into this for me. It looks to me like they blew it and they had to come up with a document to cover their tracks. I have had problems with Nationstar from the start. 
 

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