Robin
Waldron,#2Consumer Comment
Wed, April 23, 2003
Hi, again. I keep asking questions about this industry and am probably driving you crazy. Sorry. I appreciate your previous responses, but become more dumbfounded the more I learn about the mortgage servicing industry. It seems beyond comprehension that these companies act with such impunity in this country! The more I learn, the less I undestand. It is the Twilight Zone; nothing is what it seems. You have stated that you have worked in this industry in the past and I assume that you are still involved in some way or at least keeping tabs. The info you posted above is good news for future home buyers; will it help anyone already affected? Most laws are not retroactive, unfortunately. Some of the items covered were things I thought were ALREADY in place in Federal law, such as the notification of change of servicers (RESPA?). Are these laws supposed to clarify and close some of the loopholes the servicers have found and used to their advantage? I have a son on active duty in the Navy. Today's great news is that the VA has awarded their servicing to their favored child, Ocwen. I will have to warn him NOT to go VA, now; another Federal benefit shot to pieces. I have noticed a great increase in the number of posts from folks being foreclosed on by various servicers lately. It is like there is a mad rush to get all the houses possible ASAP. Do you feel that this may tie in to the impending law? Like servicers are thinking "Get 'em quick, before October 1"? My biggest question is this: if you are working in mortgage servicing or keeping up with it, are there ANY reputable, honest servicers out there? There MUST be some recourse for the people suffering these outrages SOMEWHERE. Is there a list somewhere that folks can look up?
Robin
Waldron,#3Consumer Comment
Wed, April 23, 2003
Hi, again. I keep asking questions about this industry and am probably driving you crazy. Sorry. I appreciate your previous responses, but become more dumbfounded the more I learn about the mortgage servicing industry. It seems beyond comprehension that these companies act with such impunity in this country! The more I learn, the less I undestand. It is the Twilight Zone; nothing is what it seems. You have stated that you have worked in this industry in the past and I assume that you are still involved in some way or at least keeping tabs. The info you posted above is good news for future home buyers; will it help anyone already affected? Most laws are not retroactive, unfortunately. Some of the items covered were things I thought were ALREADY in place in Federal law, such as the notification of change of servicers (RESPA?). Are these laws supposed to clarify and close some of the loopholes the servicers have found and used to their advantage? I have a son on active duty in the Navy. Today's great news is that the VA has awarded their servicing to their favored child, Ocwen. I will have to warn him NOT to go VA, now; another Federal benefit shot to pieces. I have noticed a great increase in the number of posts from folks being foreclosed on by various servicers lately. It is like there is a mad rush to get all the houses possible ASAP. Do you feel that this may tie in to the impending law? Like servicers are thinking "Get 'em quick, before October 1"? My biggest question is this: if you are working in mortgage servicing or keeping up with it, are there ANY reputable, honest servicers out there? There MUST be some recourse for the people suffering these outrages SOMEWHERE. Is there a list somewhere that folks can look up?