Complaint Review: Wilshire Credit Corporation

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

I am writing because:

You (Wilshire Credit Corp.) failed to notify us in a written statement showing the transfer of my loan within 15 days of transfer. Which is breaking the RESPA law.

The previous company (Option One) has also failed to notify us of a transfer.

You failed to send us a payment coupon, with your name and address of where to send payment.

Your delinquency department called us, threatening to pay over the phone, and demanding our social security number over the phone, which is breaking the RESPA law. You cannot threaten us within 60 days of a transfer.

You are charging us late penalties and are telling us you are going to report it to the credit bureau for being late. Which is breaking the RESPA law. Under RESPA you cannot charge late penalties within 60 days of a transfer or report anything to a credit bureau.

I received a delinqucy letter of demand and called that dept on ? and spoke with ?; she said it would be reported as late and demanded payment and was very rude, she refused to speak with me unless I gave her my social security number over the phone. She demanded a home phone # and said she did not have it. She had no reason for why I had received 2 phone calls prior to this one at home, with a number she says she didn't have on record. She admitted they had the wrong address for us, and that was not an excuse for us not to have sent our payments. Even though without a payment coupon I had no where to send it.

It is your fault you have the wrong address, not mine, we will not be punished for your wrong doing. I requested her to fax these missing letters, and as of today have not received them. Therefore, you have violated the RESPA Act.

Your (Wilshire Credit Corp.) credentials at the bottom of your stationary does not allow you to collect debts in the State of California.

As I write this letter I have just received a letter from Wilshire Credit Corp demanding any amount less than full debt will be considered. Also stating We may be able to offer you one of the following options to resolve your loan: Forbearance Agreement, Pre-approved sale, discounted payoff, or deed in lieu of foreclosure. The status of your loan may be reported to consumer reporting agencies. You are violating the RESPA Act by demanding payoff, threatening us with foreclosure and reporting about my credit.

The reason payments have not been sent is because you have violated the RESPA ACT not once but several times, and still have failed to send a written statement that you bought the loan, from who, and where to send my payments.

I ran a check on my deed to find the current mortgage holder so I could send them my money and you are not listed on my deed, only the original mortgage holder is. You therefore have no right to collect anything.

To whom it may concern, I do not trust your company and will be sending my payments to the previous company until you all resolve this issue.

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

Magnum
coulterville, California
U.S.A.