- Report: #548112
Complaint Review: Concesco Green Tree Mortagage Comp. - Rapid City South Dakota
Reported By:
Ryan -
Indianapolis, Indiana, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Concesco Green Tree Mortagage Comp.
PO Box 6172 Rapid City, 57709 South Dakota, United States of America
Phone:
8006430202
Web:
www.gtservicing.com
Categories:
Business Rating:
(0)
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Concesco Green Tree Mortagage Comp. Green Tree bought my loan which was set up for automatic payments for the last four years but did not contact me about the change and did not accept payments because they created a new account number. Rapid City, South Dakota
I just found out that Green Tree bought my line of credit from First Tennessee Bank in Oct. but I was not notified by either party of this loan sale. For the last four years my payment was automaticly sent every month to First Tennessee without ever having a late payment. Green Tree changed my account number so the automatic payments were not processing. I only found out by receiving a certified letter stating my account was 90 days late so I call and made the payment as soon as they were open today. Green Tree informed me that there is nothing they could do to help with the negitive reporting they had issued to the credit agencies and that they could not even credit the finance charges of $53.70 because this was not their fault. The phone numbers they had in the system for me were not right which they claimed I must have changed even though I have had the same number for 10 years and First Tennessee Bank still showed my correct information. They also were sending mail to the wrong address which was my father house which saved me further otherwise I would not have known about the certified letter. First Tennessee still had my correct address in their system so someone at Green Tree entered my phone number and address wrong so I was never notified about an account change but will not help in cleaning up my credit report because it is not their fault. Makes no sense! There slogan is 'relationships that work' which I find really hard to believe. First Tennessee Bank stated they would try and contact Green Tree regarding this matter to help clear it up but could not make any promises that Green Tree would work with them. As far as I am concerned, the person working at Green Tree that entered my information wrong should have this negitive report on their credit not mine. Also, First Tennessee Bank stated that they thought there would be a lag period of any account transfers before negitive information is reported to credit agencies because of issues like this. I would like to know if that is the case as I would like to do any thing possible to protect future new customers of Green Tree. The first person I talked to at Green Tree 'Cheryl x:61104' said that many customers have called in and complained about this same issue, but when she transfered me to customer service the lady stated Green Tree could do nothing to help me out because it was not their fault.
1 Updates & Rebuttals
MovingForward
Wellington,Florida,
United States of America
This sounds like a RESPA violation
#2General Comment
Thu, December 31, 2009
Many people are not aware that lenders can sell your loan and keep the servicing or sell the servicing and keep the loan, or sell both the servicing and the loan. In any event, it is required by RESPA for both the selling entity and the purchasing entity to notify you in writing of the sale. It sounds like that did not happen. Also, the new lender is not allowed to report any lates within 60 days of the sale because of these type of issues.
Green Tree does not have a good reputation anyway, for cooperation. If it were me, I would contact a NACA attorney and sue them for the RESPA violations, there could be substantial penalties due to you from this new servicer. You may want to google RESPA violations just so you have an idea of what information will be needed to be provided to the attorney. Don't let this one go...it is a huge violation.
