John
Charlotte,#2UPDATE EX-employee responds
Thu, October 10, 2002
Fairbanks obtained the servicing rights for Equicredit/Nationscredit mortgage loans on 1/1/2002. Bank of America actually owns what was Equicredit/Nationscredit. Fairbanks has a servicing contract for those loans. If you want to voice your displeasure voice it to Bank of America they gave your servicing to Fairbanks. I have been told by more than one source that the Bank of America investors that have secured your loans are very unhappy with Fairbanks. I have even heard that the bank is looking at trying to regain servicing control over the loans given to Fairbanks. Bank of America dropped writing and servicing non prime loans because they did not want to be viewed by the public and their account holders as predatory lenders. That is why today your are serviced by Fairbanks instead of Equicredit(Bank of America.)