Complaint Review: America's Servicing Company

We have been litigating the issue of mortgage suspense accounts with GE Capital and Wells Fargo for 9 years (Wells bought the GE servicing business in 2000) It depends upon how old your load is. In 1994 the mortgage bankers association formed a committee headed by Thomas Kleisler then counsel for GE Capital Mortgage, and with Thomas Mann of GE and Peter Wissinger of Wells Fargo Home Mortgage as members, as well of representatives of other lenders. Everyone on the committee knew that under their existing load documents, suspense accounts were not legal, that using them was a breach of the contract. No question. This committee was formed to revise the standard loan documents to make the industry practice of using suspense accounts legal.

Although this committee was formed in 1994, our experience with suspense accounts started in 1995. We were not sent any escrow justification or notice of significantly increasing our escrow. We made our payments, they cashed the checks, and then we would get a call asking when we were going to make our payments. Since I would pull out the canceled check and give dates it cleared, etc. to the person from the call center, they would continue to ask when we would make the payment. They did not tell us we had a shortage, and owed so much more, they just said we had made no payment. Eventually we started receiving letters, I would try to call the person the letter was from and was told there was no one there by that name. We requested account history's numerous times, the only response was someone else's account history from 1000 miles away. Sent qualified requests for information, but received no response (make sure you include your account number, and send it certified). This all resulted in three attempts to foreclose, when all payments were made, documented,and within the grace period. It took attorney's working on the case to get any kind of account records, we then found out about the suspense account, based on bogus change in escrow that they could not produce a copy of. We also found checks, cashed and not credited, sitting in their 'queque', checks sitting in someone's desk drawer, checks sitting in someone's desk for a couple months then returned. Once, they get one late payment, they will do this to somehow get you three months behind to start foreclosure proceedings. The more equity you have in your home, the more attractive target. Foreclosure law firms combined with trustee firms in nonjudicial foreclosure states are incented to get houses with high equity and values which have increased, add their fees, purchase the houses themselves, and then sell them through their own real estate divisions. There are whole national networks for these ireputeable foreclosure firms that do the same thing.

The basic truth is that foreclosure is profitable for mortgage servicers and lawfirms-trustee companies handling them. The fee the servicer got for our loan every month was $56.00, the late fee was $65.00. The loan servicer gets the late fee, so it is in their best interest to cause a late fee by whatever means. Once you have one late fee, thereafter they can charge one every month. This is called pyramiding. Also as soon as they begin the foreclosure process attorney's fees will be immediately added to the account, in the 5-10 thousand dollar range. Plus "inspection" fees.(this usually means a drive by, or someone coming to the door to make sure you live there, but my favorite was contacting our neighbors)

The bottom line is that currently if your loan was made after 1996, check your original loan documents, suspense accounts may well be included.

The real solution is to lobby congress to change consumer laws for mortgages to come more in line with credit card requirements that:
1 Payments be credited when made, even if not considered whole.
2. Late Fees cannot be assessed only on another late fee.
3. require complete disclosure monthly of how payments are credited.

We have been litigating the issue of mortgage suspense accounts with GE Capital and Wells Fargo for 9 years (Wells bought the GE servicing business in 2000) It depends upon how old your load is. In 1994 the mortgage bankers association formed a committee headed by Thomas Kleisler then counsel for GE Capital Mortgage, and with Thomas Mann of GE and Peter Wissinger of Wells Fargo Home Mortgage as members, as well of representatives of other lenders. Everyone on the committee knew that under their existing load documents, suspense accounts were not legal, that using them was a breach of the contract. No question. This committee was formed to revise the standard loan documents to make the industry practice of using suspense accounts legal.

Although this committee was formed in 1994, our experience with suspense accounts started in 1995. We were not sent any escrow justification or notice of significantly increasing our escrow. We made our payments, they cashed the checks, and then we would get a call asking when we were going to make our payments. Since I would pull out the canceled check and give dates it cleared, etc. to the person from the call center, they would continue to ask when we would make the payment. They did not tell us we had a shortage, and owed so much more, they just said we had made no payment. Eventually we started receiving letters, I would try to call the person the letter was from and was told there was no one there by that name. We requested account history's numerous times, the only response was someone else's account history from 1000 miles away. Sent qualified requests for information, but received no response (make sure you include your account number, and send it certified). This all resulted in three attempts to foreclose, when all payments were made, documented,and within the grace period. It took attorney's working on the case to get any kind of account records, we then found out about the suspense account, based on bogus change in escrow that they could not produce a copy of. We also found checks, cashed and not credited, sitting in their 'queque', checks sitting in someone's desk drawer, checks sitting in someone's desk for a couple months then returned. Once, they get one late payment, they will do this to somehow get you three months behind to start foreclosure proceedings. The more equity you have in your home, the more attractive target. Foreclosure law firms combined with trustee firms in nonjudicial foreclosure states are incented to get houses with high equity and values which have increased, add their fees, purchase the houses themselves, and then sell them through their own real estate divisions. There are whole national networks for these disreputeable foreclosure firms that do the same thing.

The basic truth is that foreclosure is profitable for mortgage servicers and lawfirms-trustee companies handling them. The fee the servicer got for our loan every month was $56.00, the late fee was $65.00. The loan servicer gets the late fee, so it is in their best interest to cause a late fee by whatever means. Once you have one late fee, thereafter they can charge one every month. This is called pyramiding. Also as soon as they begin the foreclosure process attorney's fees will be immediately added to the account, in the 5-10 thousand dollar range. Plus "inspection" fees.(this usually means a drive by, or someone coming to the door to make sure you live there, but my favorite was contacting our neighbors)

The bottom line is that currently if your loan was made after 1996, check your original loan documents, suspense accounts may well be included.

The real solution is to lobby congress to change consumer laws for mortgages to come more in line with credit card requirements that:
1 Payments be credited when made, even if not considered whole.
2. Late Fees cannot be assessed only on another late fee.
3. require complete disclosure monthly of how payments are credited.

We have been litigating the issue of mortgage suspense accounts with GE Capital and Wells Fargo for 9 years (Wells bought the GE servicing business in 2000) It depends upon how old your load is. In 1994 the mortgage bankers association formed a committee headed by Thomas Kleisler then counsel for GE Capital Mortgage, and with Thomas Mann of GE and Peter Wissinger of Wells Fargo Home Mortgage as members, as well of representatives of other lenders. Everyone on the committee knew that under their existing load documents, suspense accounts were not legal, that using them was a breach of the contract. No question. This committee was formed to revise the standard loan documents to make the industry practice of using suspense accounts legal.

Although this committee was formed in 1994, our experience with suspense accounts started in 1995. We were not sent any escrow justification or notice of significantly increasing our escrow. We made our payments, they cashed the checks, and then we would get a call asking when we were going to make our payments. Since I would pull out the canceled check and give dates it cleared, etc. to the person from the call center, they would continue to ask when we would make the payment. They did not tell us we had a shortage, and owed so much more, they just said we had made no payment. Eventually we started receiving letters, I would try to call the person the letter was from and was told there was no one there by that name. We requested account history's numerous times, the only response was someone else's account history from 1000 miles away. Sent qualified requests for information, but received no response (make sure you include your account number, and send it certified). This all resulted in three attempts to foreclose, when all payments were made, documented,and within the grace period. It took attorney's working on the case to get any kind of account records, we then found out about the suspense account, based on bogus change in escrow that they could not produce a copy of. We also found checks, cashed and not credited, sitting in their 'queque', checks sitting in someone's desk drawer, checks sitting in someone's desk for a couple months then returned. Once, they get one late payment, they will do this to somehow get you three months behind to start foreclosure proceedings. The more equity you have in your home, the more attractive target. Foreclosure law firms combined with trustee firms in nonjudicial foreclosure states are incented to get houses with high equity and values which have increased, add their fees, purchase the houses themselves, and then sell them through their own real estate divisions. There are whole national networks for these disreputeable foreclosure firms that do the same thing.

The basic truth is that foreclosure is profitable for mortgage servicers and lawfirms-trustee companies handling them. The fee the servicer got for our loan every month was $56.00, the late fee was $65.00. The loan servicer gets the late fee, so it is in their best interest to cause a late fee by whatever means. Once you have one late fee, thereafter they can charge one every month. This is called pyramiding. Also as soon as they begin the foreclosure process attorney's fees will be immediately added to the account, in the 5-10 thousand dollar range. Plus "inspection" fees.(this usually means a drive by, or someone coming to the door to make sure you live there, but my favorite was contacting our neighbors)

The bottom line is that currently if your loan was made after 1996, check your original loan documents, suspense accounts may well be included.

The real solution is to lobby congress to change consumer laws for mortgages to come more in line with credit card requirements that:
1 Payments be credited when made, even if not considered whole.
2. Late Fees cannot be assessed only on another late fee.
3. require complete disclosure monthly of how payments are credited.

We have been litigating the issue of mortgage suspense accounts with GE Capital and Wells Fargo for 9 years (Wells bought the GE servicing business in 2000) It depends upon how old your load is. In 1994 the mortgage bankers association formed a committee headed by Thomas Kleisler then counsel for GE Capital Mortgage, and with Thomas Mann of GE and Peter Wissinger of Wells Fargo Home Mortgage as members, as well of representatives of other lenders. Everyone on the committee knew that under their existing load documents, suspense accounts were not legal, that using them was a breach of the contract. No question. This committee was formed to revise the standard loan documents to make the industry practice of using suspense accounts legal.

Although this committee was formed in 1994, our experience with suspense accounts started in 1995. We were not sent any escrow justification or notice of significantly increasing our escrow. We made our payments, they cashed the checks, and then we would get a call asking when we were going to make our payments. Since I would pull out the canceled check and give dates it cleared, etc. to the person from the call center, they would continue to ask when we would make the payment. They did not tell us we had a shortage, and owed so much more, they just said we had made no payment. Eventually we started receiving letters, I would try to call the person the letter was from and was told there was no one there by that name. We requested account history's numerous times, the only response was someone else's account history from 1000 miles away. Sent qualified requests for information, but received no response (make sure you include your account number, and send it certified). This all resulted in three attempts to foreclose, when all payments were made, documented,and within the grace period. It took attorney's working on the case to get any kind of account records, we then found out about the suspense account, based on bogus change in escrow that they could not produce a copy of. We also found checks, cashed and not credited, sitting in their 'queque', checks sitting in someone's desk drawer, checks sitting in someone's desk for a couple months then returned. Once, they get one late payment, they will do this to somehow get you three months behind to start foreclosure proceedings. The more equity you have in your home, the more attractive target. Foreclosure law firms combined with trustee firms in nonjudicial foreclosure states are incented to get houses with high equity and values which have increased, add their fees, purchase the houses themselves, and then sell them through their own real estate divisions. There are whole national networks for these disreputeable foreclosure firms that do the same thing.

The basic truth is that foreclosure is profitable for mortgage servicers and lawfirms-trustee companies handling them. The fee the servicer got for our loan every month was $56.00, the late fee was $65.00. The loan servicer gets the late fee, so it is in their best interest to cause a late fee by whatever means. Once you have one late fee, thereafter they can charge one every month. This is called pyramiding. Also as soon as they begin the foreclosure process attorney's fees will be immediately added to the account, in the 5-10 thousand dollar range. Plus "inspection" fees.(this usually means a drive by, or someone coming to the door to make sure you live there, but my favorite was contacting our neighbors)

The bottom line is that currently if your loan was made after 1996, check your original loan documents, suspense accounts may well be included.

The real solution is to lobby congress to change consumer laws for mortgages to come more in line with credit card requirements that:
1 Payments be credited when made, even if not considered whole.
2. Late Fees cannot be assessed only on another late fee.
3. require complete disclosure monthly of how payments are credited.

In November of 2006 my law firm obtained a jury verdict against Wells Fargo Home Mortgage, Inc. for Breach of Contract. We argued that Under the terms of the Mortgage, Wells Fargo has no right to hold the customer's money in "Suspense" ... The Jury awarded $250,000 to my Clients.

The case is not finished, and Wells has asked for a reduction in the Jury's Award and a new Trial, (Outcome pending). I expect an Appeal, but the hard part is over because we won the case at trial.

Anyone who has been told they have a "Suspense" balance at Wells Fargo. (money received but not applied to your balance), or anyone who has "formally" disputed their account balance at Wells Fargo, may like to hear how we conducted the trial.

I would be happy to discuss the public records that have been filed with the Courts in Nashville, Davidson County, Tennessee.

Please contact:
Leroy Johnston Ellis, IV,
Attorney at Law, TN BPR#017968
Johnny@ljellisatty.com

In response to the question, "What is a Suspense Account?" I offer the following:

Suspense Account - Catch-all account used as a place to temporarily put funds that are in "suspense" until the servicer makes a decision on how to permanently allocate or apply the payment to the account, often used to hold less than full installment payments or payments received while the account is in default.

Suspense Balance - Amount of funds held in suspense account.


EVERYONE...

Please gather all your information and evidence and put it in chronological order. This will help the agency better understand your position.

It has been proven time and time again that Class Action Lawsuits only benefit the lawyer and not the victim.

Often times the victim receives an amount substantially less than expected and there is no recovery of the money actually lost.

Lets get down to the real business at hand, you want relief and you want to stop them from this activity, here's how to go about it.

Do not send America's Servicing Company or Wells Fargo your information or evidence. This will only add to their case and will prove detrimental to your defense in the future in a court of law.

Anyone having problems with Wells Fargo dba America's Servicing Company should send a RESPA Letter (Real Estate Steelement Procedures Act) to America's Servicing Company to obtain information or questions they have on their account.

Loan Servicing Complaints

Section 6 provides borrowers with important consumer protections relating to the servicing of their loans. Under Section 6 of RESPA, borrowers who have a problem with the servicing of their loan (including escrow account questions), should contact their loan servicer in writing, outlining the nature of their complaint. The servicer must acknowledge the complaint in writing within 20 business days of receipt of the complaint. Within 60 business days the servicer must resolve the complaint by correcting the account or giving a statement of the reasons for its position. Until the complaint is resolved, borrowers should continue to make the servicer's required payment.

A borrower may bring a private law suit, or a group of borrowers may bring a class action suit, within three years, against a servicer who fails to comply with Section 6's provisions. Borrowers may obtain actual damages, as well as additional damages if there is a pattern of noncompliance.

Other Enforcement Actions

Under Section 10, HUD has authority to impose a civil penalty on loan servicers who do not submit initial or annual escrow account statements to borrowers. Borrowers should contact HUD's Office of Consumer and Regulatory Affairs to report servicers who fail to provide the required escrow account statements.

Filing a RESPA Complaint

Persons who believe a settlement service provider has violated RESPA in an area in which the Department has enforcement authority (primarily sections 6, 8 and 9), may wish to file a complaint. The complaint should outline the violation and identify the violators by name, address and phone number. Complainants should also provide their own name and phone number for follow up questions from HUD. Requests for confidentiality will be honored. Complaints should be sent to:


Director, Office of RESPA and Interstate Land Sales
US Department of Housing and Urban Development
Room 9154
451 7th Street, SW
Washington, DC 20410

SAMPLE OF RESPA LETTER: (Fill in your information)

Attention Customer Service:

Subject: [Your loan number]
[Names on loan documents]
[Property and/or mailing address]


This is a "qualified written request" under Section 6 of the Real Estate Settlement Procedures Act (RESPA).

I am writing because:

Describe the issue or the question you have and/or what action you believe the lender should take in detail.

Attach copies of any related written materials.

Describe any conversations with customer service regarding the issue and to whom you spoke.

Describe any previous steps you have taken or attempts to resolve the issue.

List a day time telephone number in case a customer service representative wishes to contact you.

I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.

Sincerely,



[Your name]

REMEMBER: This letter SHOULD NOT be included with your mortgage payment, but should be sent separately to the customer service address. Send this request by certified mail that way you will have proof the letter was mailed and you will also be able to track the letter online at the U.S. Postal Service website at:

http://www.usps.com

You SHOULD continue to make the required mortgage and escrow payment until the request is resolved.

You may bring a private right of action under Section 6, if you suffer damages due to the lender's servicing of the loan. See the RESPA statute and regulations.

ALSO -

I highly recomment you file a complaint with the Office of the Comptroller of the Currency Customer Assistance Group by telephone or through written correspondence.

This is the entity that regulates Wells Fargo and America's Servicing Company.

You can reach one of the Office of the Comptroller of the Currency's customer assistance specialists by:

Telephone: Dial 1-800-613-6743, toll-free (Monday-Thursday 9:00a.m. to 4:00p.m., Friday 9:00 a.m. to 3:00 p.m. CT)

E-mail: Send E-mail to Customer.Assistance@occ.treas.gov

They will not accept a formal complaint, nor will they accept further information on your complaint by email. It is best to send the complaint by certified mail.

Fax: Send written material to 1-713-336-4301

Mail:

Customer Assistance Group
1301 McKinney Street
Suite 3450
Houston, TX 77010

I strongly urge anyone having problems with this company to file a complaint with their local Office of the Attorney General, the Federal Trade Commission and the Office of the Comptroller of the Currency who regulates Wells Fargo.

HUD/RESPA information can be found at:

http://www.hud.gov/offices/hsg/sfh/res/respamor.cfm#MT

Please read the Rip-Off Reports on Wells Fargo and America's Servicing Company, you will find others in pretty much the same situation as you. Their circumstances may apply to you and you may not realize it until you read the other posts.

Take the suggestions from the other posts here on the Rip-Off Report into mind and prepare your documentation as if your life depended on it.

The only way we can stop both of these companies is to file a formal complaint.

Yes, Wells Fargo is the parent company of America's Servicing Company, so please make sure when you refer to these company's in your complaints you use the name Wells Fargo dba America's Servicing Company.

The government agencies cannot and will not start an investigation until they receive a certain number of complaints.

Please people I cannot stress this enough, do something pro-active and file your complaints with the various agencies NOW!

In response to the question, "What is a Suspense Account?" I offer the following:

Suspense Account - Catch-all account used as a place to temporarily put funds that are in "suspense" until the servicer makes a decision on how to permanently allocate or apply the payment to the account, often used to hold less than full installment payments or payments received while the account is in default.

Suspense Balance - Amount of funds held in suspense account.


EVERYONE...

Please gather all your information and evidence and put it in chronological order. This will help the agency better understand your position.

It has been proven time and time again that Class Action Lawsuits only benefit the lawyer and not the victim.

Often times the victim receives an amount substantially less than expected and there is no recovery of the money actually lost.

Lets get down to the real business at hand, you want relief and you want to stop them from this activity, here's how to go about it.

Do not send America's Servicing Company or Wells Fargo your information or evidence. This will only add to their case and will prove detrimental to your defense in the future in a court of law.

Anyone having problems with Wells Fargo dba America's Servicing Company should send a RESPA Letter (Real Estate Steelement Procedures Act) to America's Servicing Company to obtain information or questions they have on their account.

Loan Servicing Complaints

Section 6 provides borrowers with important consumer protections relating to the servicing of their loans. Under Section 6 of RESPA, borrowers who have a problem with the servicing of their loan (including escrow account questions), should contact their loan servicer in writing, outlining the nature of their complaint. The servicer must acknowledge the complaint in writing within 20 business days of receipt of the complaint. Within 60 business days the servicer must resolve the complaint by correcting the account or giving a statement of the reasons for its position. Until the complaint is resolved, borrowers should continue to make the servicer's required payment.

A borrower may bring a private law suit, or a group of borrowers may bring a class action suit, within three years, against a servicer who fails to comply with Section 6's provisions. Borrowers may obtain actual damages, as well as additional damages if there is a pattern of noncompliance.

Other Enforcement Actions

Under Section 10, HUD has authority to impose a civil penalty on loan servicers who do not submit initial or annual escrow account statements to borrowers. Borrowers should contact HUD's Office of Consumer and Regulatory Affairs to report servicers who fail to provide the required escrow account statements.

Filing a RESPA Complaint

Persons who believe a settlement service provider has violated RESPA in an area in which the Department has enforcement authority (primarily sections 6, 8 and 9), may wish to file a complaint. The complaint should outline the violation and identify the violators by name, address and phone number. Complainants should also provide their own name and phone number for follow up questions from HUD. Requests for confidentiality will be honored. Complaints should be sent to:


Director, Office of RESPA and Interstate Land Sales
US Department of Housing and Urban Development
Room 9154
451 7th Street, SW
Washington, DC 20410

SAMPLE OF RESPA LETTER: (Fill in your information)

Attention Customer Service:

Subject: [Your loan number]
[Names on loan documents]
[Property and/or mailing address]


This is a "qualified written request" under Section 6 of the Real Estate Settlement Procedures Act (RESPA).

I am writing because:

Describe the issue or the question you have and/or what action you believe the lender should take in detail.

Attach copies of any related written materials.

Describe any conversations with customer service regarding the issue and to whom you spoke.

Describe any previous steps you have taken or attempts to resolve the issue.

List a day time telephone number in case a customer service representative wishes to contact you.

I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.

Sincerely,



[Your name]

REMEMBER: This letter SHOULD NOT be included with your mortgage payment, but should be sent separately to the customer service address. Send this request by certified mail that way you will have proof the letter was mailed and you will also be able to track the letter online at the U.S. Postal Service website at:

http://www.usps.com

You SHOULD continue to make the required mortgage and escrow payment until the request is resolved.

You may bring a private right of action under Section 6, if you suffer damages due to the lender's servicing of the loan. See the RESPA statute and regulations.

ALSO -

I highly recomment you file a complaint with the Office of the Comptroller of the Currency Customer Assistance Group by telephone or through written correspondence.

This is the entity that regulates Wells Fargo and America's Servicing Company.

You can reach one of the Office of the Comptroller of the Currency's customer assistance specialists by:

Telephone: Dial 1-800-613-6743, toll-free (Monday-Thursday 9:00a.m. to 4:00p.m., Friday 9:00 a.m. to 3:00 p.m. CT)

E-mail: Send E-mail to Customer.Assistance@occ.treas.gov

They will not accept a formal complaint, nor will they accept further information on your complaint by email. It is best to send the complaint by certified mail.

Fax: Send written material to 1-713-336-4301

Mail:

Customer Assistance Group
1301 McKinney Street
Suite 3450
Houston, TX 77010

I strongly urge anyone having problems with this company to file a complaint with their local Office of the Attorney General, the Federal Trade Commission and the Office of the Comptroller of the Currency who regulates Wells Fargo.

HUD/RESPA information can be found at:

http://www.hud.gov/offices/hsg/sfh/res/respamor.cfm#MT

Please read the Rip-Off Reports on Wells Fargo and America's Servicing Company, you will find others in pretty much the same situation as you. Their circumstances may apply to you and you may not realize it until you read the other posts.

Take the suggestions from the other posts here on the Rip-Off Report into mind and prepare your documentation as if your life depended on it.

The only way we can stop both of these companies is to file a formal complaint.

Yes, Wells Fargo is the parent company of America's Servicing Company, so please make sure when you refer to these company's in your complaints you use the name Wells Fargo dba America's Servicing Company.

The government agencies cannot and will not start an investigation until they receive a certain number of complaints.

Please people I cannot stress this enough, do something pro-active and file your complaints with the various agencies NOW!

In response to the question, "What is a Suspense Account?" I offer the following:

Suspense Account - Catch-all account used as a place to temporarily put funds that are in "suspense" until the servicer makes a decision on how to permanently allocate or apply the payment to the account, often used to hold less than full installment payments or payments received while the account is in default.

Suspense Balance - Amount of funds held in suspense account.


EVERYONE...

Please gather all your information and evidence and put it in chronological order. This will help the agency better understand your position.

It has been proven time and time again that Class Action Lawsuits only benefit the lawyer and not the victim.

Often times the victim receives an amount substantially less than expected and there is no recovery of the money actually lost.

Lets get down to the real business at hand, you want relief and you want to stop them from this activity, here's how to go about it.

Do not send America's Servicing Company or Wells Fargo your information or evidence. This will only add to their case and will prove detrimental to your defense in the future in a court of law.

Anyone having problems with Wells Fargo dba America's Servicing Company should send a RESPA Letter (Real Estate Steelement Procedures Act) to America's Servicing Company to obtain information or questions they have on their account.

Loan Servicing Complaints

Section 6 provides borrowers with important consumer protections relating to the servicing of their loans. Under Section 6 of RESPA, borrowers who have a problem with the servicing of their loan (including escrow account questions), should contact their loan servicer in writing, outlining the nature of their complaint. The servicer must acknowledge the complaint in writing within 20 business days of receipt of the complaint. Within 60 business days the servicer must resolve the complaint by correcting the account or giving a statement of the reasons for its position. Until the complaint is resolved, borrowers should continue to make the servicer's required payment.

A borrower may bring a private law suit, or a group of borrowers may bring a class action suit, within three years, against a servicer who fails to comply with Section 6's provisions. Borrowers may obtain actual damages, as well as additional damages if there is a pattern of noncompliance.

Other Enforcement Actions

Under Section 10, HUD has authority to impose a civil penalty on loan servicers who do not submit initial or annual escrow account statements to borrowers. Borrowers should contact HUD's Office of Consumer and Regulatory Affairs to report servicers who fail to provide the required escrow account statements.

Filing a RESPA Complaint

Persons who believe a settlement service provider has violated RESPA in an area in which the Department has enforcement authority (primarily sections 6, 8 and 9), may wish to file a complaint. The complaint should outline the violation and identify the violators by name, address and phone number. Complainants should also provide their own name and phone number for follow up questions from HUD. Requests for confidentiality will be honored. Complaints should be sent to:


Director, Office of RESPA and Interstate Land Sales
US Department of Housing and Urban Development
Room 9154
451 7th Street, SW
Washington, DC 20410

SAMPLE OF RESPA LETTER: (Fill in your information)

Attention Customer Service:

Subject: [Your loan number]
[Names on loan documents]
[Property and/or mailing address]


This is a "qualified written request" under Section 6 of the Real Estate Settlement Procedures Act (RESPA).

I am writing because:

Describe the issue or the question you have and/or what action you believe the lender should take in detail.

Attach copies of any related written materials.

Describe any conversations with customer service regarding the issue and to whom you spoke.

Describe any previous steps you have taken or attempts to resolve the issue.

List a day time telephone number in case a customer service representative wishes to contact you.

I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.

Sincerely,



[Your name]

REMEMBER: This letter SHOULD NOT be included with your mortgage payment, but should be sent separately to the customer service address. Send this request by certified mail that way you will have proof the letter was mailed and you will also be able to track the letter online at the U.S. Postal Service website at:

http://www.usps.com

You SHOULD continue to make the required mortgage and escrow payment until the request is resolved.

You may bring a private right of action under Section 6, if you suffer damages due to the lender's servicing of the loan. See the RESPA statute and regulations.

ALSO -

I highly recomment you file a complaint with the Office of the Comptroller of the Currency Customer Assistance Group by telephone or through written correspondence.

This is the entity that regulates Wells Fargo and America's Servicing Company.

You can reach one of the Office of the Comptroller of the Currency's customer assistance specialists by:

Telephone: Dial 1-800-613-6743, toll-free (Monday-Thursday 9:00a.m. to 4:00p.m., Friday 9:00 a.m. to 3:00 p.m. CT)

E-mail: Send E-mail to Customer.Assistance@occ.treas.gov

They will not accept a formal complaint, nor will they accept further information on your complaint by email. It is best to send the complaint by certified mail.

Fax: Send written material to 1-713-336-4301

Mail:

Customer Assistance Group
1301 McKinney Street
Suite 3450
Houston, TX 77010

I strongly urge anyone having problems with this company to file a complaint with their local Office of the Attorney General, the Federal Trade Commission and the Office of the Comptroller of the Currency who regulates Wells Fargo.

HUD/RESPA information can be found at:

http://www.hud.gov/offices/hsg/sfh/res/respamor.cfm#MT

Please read the Rip-Off Reports on Wells Fargo and America's Servicing Company, you will find others in pretty much the same situation as you. Their circumstances may apply to you and you may not realize it until you read the other posts.

Take the suggestions from the other posts here on the Rip-Off Report into mind and prepare your documentation as if your life depended on it.

The only way we can stop both of these companies is to file a formal complaint.

Yes, Wells Fargo is the parent company of America's Servicing Company, so please make sure when you refer to these company's in your complaints you use the name Wells Fargo dba America's Servicing Company.

The government agencies cannot and will not start an investigation until they receive a certain number of complaints.

Please people I cannot stress this enough, do something pro-active and file your complaints with the various agencies NOW!

In response to the question, "What is a Suspense Account?" I offer the following:

Suspense Account - Catch-all account used as a place to temporarily put funds that are in "suspense" until the servicer makes a decision on how to permanently allocate or apply the payment to the account, often used to hold less than full installment payments or payments received while the account is in default.

Suspense Balance - Amount of funds held in suspense account.


EVERYONE...

Please gather all your information and evidence and put it in chronological order. This will help the agency better understand your position.

It has been proven time and time again that Class Action Lawsuits only benefit the lawyer and not the victim.

Often times the victim receives an amount substantially less than expected and there is no recovery of the money actually lost.

Lets get down to the real business at hand, you want relief and you want to stop them from this activity, here's how to go about it.

Do not send America's Servicing Company or Wells Fargo your information or evidence. This will only add to their case and will prove detrimental to your defense in the future in a court of law.

Anyone having problems with Wells Fargo dba America's Servicing Company should send a RESPA Letter (Real Estate Steelement Procedures Act) to America's Servicing Company to obtain information or questions they have on their account.

Loan Servicing Complaints

Section 6 provides borrowers with important consumer protections relating to the servicing of their loans. Under Section 6 of RESPA, borrowers who have a problem with the servicing of their loan (including escrow account questions), should contact their loan servicer in writing, outlining the nature of their complaint. The servicer must acknowledge the complaint in writing within 20 business days of receipt of the complaint. Within 60 business days the servicer must resolve the complaint by correcting the account or giving a statement of the reasons for its position. Until the complaint is resolved, borrowers should continue to make the servicer's required payment.

A borrower may bring a private law suit, or a group of borrowers may bring a class action suit, within three years, against a servicer who fails to comply with Section 6's provisions. Borrowers may obtain actual damages, as well as additional damages if there is a pattern of noncompliance.

Other Enforcement Actions

Under Section 10, HUD has authority to impose a civil penalty on loan servicers who do not submit initial or annual escrow account statements to borrowers. Borrowers should contact HUD's Office of Consumer and Regulatory Affairs to report servicers who fail to provide the required escrow account statements.

Filing a RESPA Complaint

Persons who believe a settlement service provider has violated RESPA in an area in which the Department has enforcement authority (primarily sections 6, 8 and 9), may wish to file a complaint. The complaint should outline the violation and identify the violators by name, address and phone number. Complainants should also provide their own name and phone number for follow up questions from HUD. Requests for confidentiality will be honored. Complaints should be sent to:


Director, Office of RESPA and Interstate Land Sales
US Department of Housing and Urban Development
Room 9154
451 7th Street, SW
Washington, DC 20410

SAMPLE OF RESPA LETTER: (Fill in your information)

Attention Customer Service:

Subject: [Your loan number]
[Names on loan documents]
[Property and/or mailing address]


This is a "qualified written request" under Section 6 of the Real Estate Settlement Procedures Act (RESPA).

I am writing because:

Describe the issue or the question you have and/or what action you believe the lender should take in detail.

Attach copies of any related written materials.

Describe any conversations with customer service regarding the issue and to whom you spoke.

Describe any previous steps you have taken or attempts to resolve the issue.

List a day time telephone number in case a customer service representative wishes to contact you.

I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.

Sincerely,



[Your name]

REMEMBER: This letter SHOULD NOT be included with your mortgage payment, but should be sent separately to the customer service address. Send this request by certified mail that way you will have proof the letter was mailed and you will also be able to track the letter online at the U.S. Postal Service website at:

http://www.usps.com

You SHOULD continue to make the required mortgage and escrow payment until the request is resolved.

You may bring a private right of action under Section 6, if you suffer damages due to the lender's servicing of the loan. See the RESPA statute and regulations.

ALSO -

I highly recomment you file a complaint with the Office of the Comptroller of the Currency Customer Assistance Group by telephone or through written correspondence.

This is the entity that regulates Wells Fargo and America's Servicing Company.

You can reach one of the Office of the Comptroller of the Currency's customer assistance specialists by:

Telephone: Dial 1-800-613-6743, toll-free (Monday-Thursday 9:00a.m. to 4:00p.m., Friday 9:00 a.m. to 3:00 p.m. CT)

E-mail: Send E-mail to Customer.Assistance@occ.treas.gov

They will not accept a formal complaint, nor will they accept further information on your complaint by email. It is best to send the complaint by certified mail.

Fax: Send written material to 1-713-336-4301

Mail:

Customer Assistance Group
1301 McKinney Street
Suite 3450
Houston, TX 77010

I strongly urge anyone having problems with this company to file a complaint with their local Office of the Attorney General, the Federal Trade Commission and the Office of the Comptroller of the Currency who regulates Wells Fargo.

HUD/RESPA information can be found at:

http://www.hud.gov/offices/hsg/sfh/res/respamor.cfm#MT

Please read the Rip-Off Reports on Wells Fargo and America's Servicing Company, you will find others in pretty much the same situation as you. Their circumstances may apply to you and you may not realize it until you read the other posts.

Take the suggestions from the other posts here on the Rip-Off Report into mind and prepare your documentation as if your life depended on it.

The only way we can stop both of these companies is to file a formal complaint.

Yes, Wells Fargo is the parent company of America's Servicing Company, so please make sure when you refer to these company's in your complaints you use the name Wells Fargo dba America's Servicing Company.

The government agencies cannot and will not start an investigation until they receive a certain number of complaints.

Please people I cannot stress this enough, do something pro-active and file your complaints with the various agencies NOW!

I was completely appalled when I read yopur report. I too am a victim of Wells Fargo. My heart goes out to you and you are also in my prayers. I think we should all get together and try to put Wells Fargo out of business through a class action suit. They are guilty of several violations and I think it would be totally awesome to have a hand in ending their dictatorship. I dont even care if I get my money back or not. It would be sweet just to see them go down and their officers go to the slam for several years.

I keep hearing that....What exactly is that used for? Has your Attorney explained it to you?