I filed an FDIC complaint against my previous mortgage
lender, which was ultimately upheld. It had to do with statements they made
which were aimed at tricking me into not paying my mortgage. A little over a
year later my mortgage was sold to Nationstar, and that's when the problems
began. I have excellent credit and have never been late on a mortgage payment.
In my opinion, mortgage companies know where to send you to exact their
revenge, or shop your loan if they think you may be a problem in any way.
Of course I refused to pay without a statement or an account
number, so they started calling me in June, demanding payment and threatening
me with collections, while the payment was still not due. I called at least 50
times during June, and July, as did my new lender to try and obtain the
payoff, which Nationstar refused to provide in violation of California State
law. All required documentation was provided from the beginning. I caught them
in numerous lies on my calls to them and documented them on tape. I always
informed them that they were being taped which made the calls more formal and
businesslike.
Here is the key: Find out who licenses the company to do business
in the State and complain to them. In California
it is the Department of Corporations that licenses Nationstar Mortgage. Write
your congressman and post on the internet. Be relentless. In the end,
Nationstar had to comply because I forced them to through my complaints.
Unfortunately in the process the lock-in period for my refinance expired, even
though the new company extended the time allowed on their own dime. It ended up
costing me about $650 to keep the same interest rate. Nationstar continued to
call and threaten me even a month after the loan was paid off and transferred
to the new lender. That $650 will be repaid many times over before I'm done. I
never paid a dime to Nationstar other than the loan payoff.
Know your rights. RESPA laws guarantee that you cannot be
charged a late fee for 60 days when a new lender buys your loan. California State code 2943 makes it illegal for a
mortgage company to withhold a payoff statement for more than 21 days from the
original request, with a $300 fine due for every request beyond that time
frame.