Complaint Review: Litton Mortgage - Houston Texas

THIS IS TO SHOW HOW WMC'S POSTING SERVICELITTON

MANIPULATED THE REGULAR MONTHLY PAYMENTS, BY USING THE SCAM KNOWN IN THE MORTGAGE ARENA AS FORCED INSURANCE.

INTODUCTION::

A BORROWER HAS HAD THE SAME INSURANCE COMPANY IN PLACE FOR 20 YEARS, AND WMC HAS IT IN THEIR RECORDS, ALL ALONG, BUT EVERY JANUARY AND JULY, THEY HAVE AN IN HOUSE INSURANCE RECORDS SEACRH..TO PROTECT THEIR CLIENTS (IE;WMC BANK)

SO, EACH JANUARY AND JULY, THEY TELL BORROWER, THAT THEIR

INSURANCE SERVICING IN-HOUSE DEPARTMENT HAPPENED TO REVIEW THIS ACCOUNT AND NOTICE THAT THERE WAS NO PROOF OF PROPERTY INURANCE, ,,,,,, SO TO PROTECT

OUR INVESTORS WE WILL ADVANCE $*___________

AND ASSESS YOUR ACCOUNT *($1,740, $1,940 2,140 ETC)

THE BORROWER (VICTIM) SENDS IMMEDIATE PROOF OF INSURACE COVERAGE FROM THE PRIVATE INSURANCE

COMPANY HE HAS HAD , AND IS IN WMC'S FILES CONTINUOUS

FOR 20 YEARS.!!!!! THE PRIVATE COMPANY RE-SENDS TO LITTON THE YEARLY DECLARATION THEY SEND EVERY DECEMBER-PRIOR TO THE LITTON JANUARY IN HOUSE REVIEW. IN OUR CASE 41 COPIES OF FAXES AND DECLARTIONS WERE SENT TO LITTON, BUT IT TOOK THEM THE ALLOWED BY OUT OF STATE MORTGAGE BANKING RULES60 DAYS TO PROCESS- PLUS 30 DAYS TO POST OR CORRECT. MEANWHILE $1,740- 2,340 IS ASESSED TO THE ACCOUNT.

BY THE WAY, THE BORROWER'S PRIVATE INSURANCE COST'S $430

A YEAR, BUT THE WMC ATTACHES $ 1,740 FIRST TIME, 1840 SECOND TIME 1940.2240ETC.

THE 60 DAY OUT OF STATE ANSWER CORRESPONDENCE RULE

AND THE 30 DAYS TO CORRECT POSTING IS MISUSED BY LITTON

TO COMPILE EXTRA' FEES AND LATE CHARGES.:

FOR EXAMPLE,ALTHOUGH AN IMMEDIATE FAX OF PROOF IS SENT (AGAIN) BY BORROWERS PRIVATE INSURANCE COMPANY TO THE LOAN SERVICER IN RESPONSE TO A LETTER OF. (IE) JANUARY 8TH.

IT DOES NOT STOP ASSESSMENT FOR 60-90 DAYS.

HOW? , WMC STILL SAYS THEY HAVE NOT RECEIVED PROOF, OR THAT IT IS PROBABLY DELAYED IN PROCESSING AND THAT THEY HAVE THE RIGHT TO 60 DAYS TO PROCESS MAIL..SO 60 DAYS AFTER THE PROOF WAS IMMEDIATLY FAXED, MAILED, OR DONE ON LINE,(BY BORROWER AND INSURANCE COMPANY) LITTON

[URPOSELY TARDILY, MAKES THE ADJUSTMENT

IE; ADJUSTMENT STOPS INS. ASSESSING IN APRIL -AFTER JANUARY NOTICE,,,,,,BUT THE CHARGE FOR ANUARY,FEBRUARY, MARCH (3 MONTHS---1/4 OF THE YEARLY 2,340= $585 APPLIED WRONGLY AS INTERIM INSURANCE COVERAGE.THEN IN JULY OF THE YEAR THEY DO THIS AGAIN. (THIS TIME 2,540

1/4 @ $635 .THREE MONTHS TO PROCESS PROOF THEY ALREADY HAD) PLUS ANOTHER THREE MONTHS PREMIUMS TO IN HOUSE INSURANCE SO SIX MONTHS IS ASSSESED EACH YEAR. PLUS $9 FILE FEE, FOUR TIMES AND $150 THEIR CORPERATE FEE.==DAMAGE: $585 + 635 + (4x $9) + 32.+ 150

CORPERATE CHARGE.==$1402.

THEY USE THE CLAUSES FOR FORCED INSURANCE, AND THE CLAUSE FOR THEIR 60 DAYS RIGHT TO REPLY AND PROCESS CHANGES AND CORRESPONDENCE TO OUT OF STATE BORROWERS. THE BORROWER IN THIS CASE IS IN NEW YORK, AND WMC IS IN CALIFORNIA AND.OR TEXAS AND/OR IOWAWHEREVER THEY WANT TO MAKE THIS IN HOUSE INSURANCE DEPARTMENTTRY TO SEND MAIL, TO ONE OF THEM, AND IT WAS SUPPOSED TO GO TO ANOTHER OFFICE==SO THE 60 DAYS GET'S EATEN UP, IN THIS FORCED INSURANCE SCAM.

SEE THE EXAMPLE:

$1402 YEARLY GROWS FURTHER BY $240 , AS IT SELF-EFFECTS' LATE CHARGES! NOW----$1642.00 MISPOSTED!!

THE 1402 TAKEN FOR FORCED INSURANCE

FROM REGULAR MONTHLY P + I PAYMENTS.

MAKES THOSE INTERIM SHORTAGE IN ESCROW INSURANCE DEBITS

NOW ADD $240 TO THE HARM THEY ALREADY HAVE DONE. .

HOW??---- THEY TAKE THE REGULAR MONTHLY MONEY, THE BORROWER SENDS IN FOR REGULAR MORTGAGE PAYMENT, AND

DEBIT THE ACCOUNT FOR EMERGENCY FORCED INSURANCE.

THUS THE REGULAR PAYMENTS FOR PRINCIPAL AND INTEREST

DO NOT POST AS ON TIME REGULAR PAYMENTS.

THEY CAUSE THE REGULAR ON TIME MAILED PAYMENT

TO BE TAKEN OUT FOR FORCED INSURANCE, THEN WHEN ADJUSTED 60-90 DAYS LATER..ADD THREE LATE CHARGES FOR THOSE THREE ON TIME PAYMENTS, DO THIS JANUARY AND JULY, FOR SIX TIMES. $39.50 LATE CHARGES x 6 = $237, WHICH IS TAKEN FROM PAYMENTS AND MAKES SOME MORE LATE CHARGES.

SO THE MANIPULATION OF 1.402 HAS A RIPPLE EFFECT OF MANUFACTURING LATE CHARGES FOR $240===1,642.00

SO 1,642 NEVER GOES POSTED AS A PAYMENT AMOUNTIT GOES TO EMERGENCY ESCROW.. IF THE 1,642.00 IS AN AMOUNT OF ONE PAYMENT T IT WILL DISAPPEAR FROM THE PAYMENTS (IE: ONE 1595 PAYMENT IS POSTED AS NEVER MADE..(1642-1595= $47 COMES OUT OF ANOTHER PAYMENT OF $1595-47= 1548. SO THE NEXT MAILED GETS UNDER POSTED AS A SHORT 1595 PAYMENT) THE SHORT PAYMENT GOES IN TO WHAT THEY CALL SUSPENSE UNAPPLIEDBECAUSE IT WAS SHORTED)

. SO,EACH 12 MONTHS, ONLY 10 OF 12 PAYMENTS APPEAR TO BE MADE

Geo

New York New York
U.S.A.