National Mortgage Complaint Center wants to hear from Mortgage Servicing Insiders...

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Americas Watchdogs and its National Mortgage Complaint Center wants to hear from mortgage servicing employees about homeowner payment abuse. According to Americas Watchdogs and the National Mortgage Complaint Center, "it's not a question of if U.S. banks and mortgage servicing firms are gouging US homeowners, the question is by how much, and will a current or former employee have the courage to step forward with the details, about home loan servicing abuses?

We know that phony late fees, phony legal fees, phony administration fee abuses in loan servicing are wide spread, and we know all banks and mortgage servicing firms are deeply involved in widespread consumer fraud, and overcharging. We need a hero to step forward to give us the mechanics of loan serving abuse".

Current or former employees of US banks or loan servicing firms that have proof of home loan servicing and borrower abuse can call the National Mortgage Complaint Center anytime at 866-714-6466 or visit their web site at NationalMortgageComplaintCenter.Com.

The National Mortgage Complaint Center says;

 "three years ago we met with the general counsel of one of the largest US mortgage lenders and he said, you would not believe how screwed up our mortgage servicing unit is. He then proceeded to tell us, that everyday thousands of US homeowners fax us proof their loans are current. Rather than get these documents to the correct customer service representative, we shred the faxes.

People are losing their houses, or they are being charged for late payments when they never were late, inspection fees for inspections that never occurred, or they are being charged huge legal fees when little or no actual legal work was done. Its wrong and we need to hear from insiders to put a stop to this. We are especially interested in hearing from employees working for the largest US banks and mortgage servicing firms. They can call us any time at 866-714-6466".

Common Loan Serving Scams Include:

* Telling a borrower they are late when they are not, in order to add unwarranted late charges or legal fees.

*Charging borrowers based on estimated rather than actual fees and expenses.    

*Putting a borrower into forced placed insurance when the homeowner has a current homeowner's insurance policy.

*Misapplying a borrower's mortgage payment to reserves, rather than principal and interest, and by doing so showing the borrower as late.

*Failing to pay a borrowers property taxes or insurance on time putting the borrower in a bind with their county tax assessor, or forcing a cancellation of a borrower's homeowners' insurance policy.

Current or former employees who have specific information about US banks or home mortgage loan servicers cheating US homeowners either intentionally, or through negligence should contact the National Mortgage Complaint Center at 866-714-6466.

According to Americas Watchdog, "we need honest people in the mortgage servicing industry to step up to the plate to help desperate Americans who have been cheated." Americas Watchdog and its National Mortgage Complaint Center is all about consumer protection and corporate responsibility

Additionally, read the many comments by borrowers on the Petition for Monthly Mortgage Statements on this site. I believe that many borrowers could have detected the above described abusive and/or fraudulent practices, had they received, or had access to, a monthly statement that allowed borrowers to track and verify whether or not their payments were received and applied both accurately & timely! If you agree that borrowers should have right to receive a monthly statement, please sign the Petition and then share with others.

Please check out these videos & links contained in a few earlier blogs..

Why We Need Monthly Mortgage Statements

Former EMC Employee Publicly Discloses the Ugly Truth About the Mortgage Servicing Industry

Are you Facing an Unfair Foreclosure? Ask Your Lender to Produce the Note?

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nice informstion. I believe that many borrowers could have detected the above described abusive and fraudulent practices.

EMC is the WORST company EVER!!!!!!!!!!!
They take for ever to answer the phone and when they do answer they ask you a million questions then, they transfer you to someone else who asks the exact same questions all over again, at times when you call and after being on hold for 15 to 30 minutes they phone hangs up on its own.
I wish there was a way I could get out my loan from this company!

my mortgage is a fifteen year mortgage to be payed off may 2011 , but s&t bank says because i was late so many times i will be charged 10,000 dollars payable on may 2011 or my home will be foreclosed upon.they are not willing to even prove how can this be i need some help with this.

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