Washington Mutual / Home Loan Officer Shane Randall Superviser Brenda Brown Loan Officer Shane Randall contacted my husband about a great refinancing deal that he has to offer him. By the time we refinanced nothing he said was true. Bellvue Washington
Shane Randall representing Washing Mutual Contacted my husband about saving us money and interest in our refinance. He said that our payment would be lower than it currently is and that the payment would be going towards interest and principal. He said that there would be a one time modification fee of $595.00 to be billed to our Credit Card which he took the information for. When the papers came in the mail, I signed them (loan is in my name) and sent them in. When we received the new bill the payment amount was at least $1,000 higher than expected and the modification fee was on this bill also. We payed it for the first several months thinking that the payment was more because it was going towards principal also. My husband and I were upset but we figure it is what it is. Then I decided to call and noticed on the next bill that the itemization on the bills were not tallying any principal. I called WAMU Customer Service to verify this information. They confirmed that it is going to interest only and that we are locked into it until 2012, unless we refinance and pay another modification fee. I then called Shane Randall, with no response. I researched and found his supervisors name and phone number, Brenda Brown (904) 732-8712. I called and left her 6 messages. Then I called every 800, 866 number I could find. Nobody would help me. They said I needed to speak with Brenda. Since then we have made the payments, so that they won't put any disparaging remarks on my credit. Still have not received one return call except from customer service requesting our payment to be made. After we make the payment, all of a sudden no one at Wamu has time to talk to us anymore and they can have someone return our call.
Currently we will be getting a new loan from Citibank and I'm sure Wamu is going to charge us a huge pre-payment penalty (of course they will).
WAMU is the tackiest, most unreliable, unprofessional banking system that I have ever dealt with.
Natasha
BURBANK, California
U.S.A.
1 Updates & Rebuttals
Who's Responsible
Capitola,California,
U.S.A.
Taking Responsibility
#2Consumer Suggestion
Fri, February 20, 2009
Part of the solution to this type of unfortunate experience is for people to take some self responsibility as educated adults. How, specifically now, does one take a new mortgage loan without reading (at least) their note (it's only a two page standard sized document) ??? It spells out clearly what the payments will be, for how long and at what rate and if principle is paid as well. Also, the note and deed of trust include a paragraph regarding pre-payment and any penalties that may apply. Come on people, you are the reason there are still dishonest loan officers out there- They still have a market to which to cater!!! For important transactions don't go for what sounds best- if it sounds too good to be true it probably isn't. Everyone is dipping from the same well these days- a mortgage rate or program with a ridiculously low payment just isn't real or the fees are exhorbinant. Ask trusted friends or professionals who they use and do your homework....don't just call around until someones tells you what you want to hear. Learn the terminology and how the math is done. It will save much heartache and expense in the future.