The Federal Trade Commission called MSFraud last week and relayed they have been monitoring this site for EMC Mortgage complaints.
The FTC wants to know if EMC Mortgage is violating their Settlement Agreement with the FTC. We told them we have heard from many who believe EMC is in violation of the agreement. If the FTC gets enough complaints, they can go after EMC again, so please file your complaints.
We also talked to the FTC about EMC's loan modification scam, where EMC tells homeowners who are current with their payments, that in order to qualify for a loan modification, the homeowner must be at least two payments behind. EMC tells the borrower not to make payments for 2-3 months and then call them back to modify their loan. After complying with EMC's instructions, the borrower calls back only to learn EMC has started foreclosure proceedings.
The FTC has asked us to direct consumers to the following page to fill out their complaint form.
Please visit https://www.ftccomplaintassistant.gov/ and please leave your name, email address and phone number when filing your complaint.
More on EMC see read comments below and also see;
Have you been hurt by EMC Mortgage Corporation? You are not alone...
Also see a few earlier blogs:
Don't Skip Payments.. and My mortgage servicer is stealing my money and my home and read more about mortgage servicing issues here.
UPDATE: Sept. 27, 2010
Class Action filed against EMC Mortgage in CA
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If we write about corporate wrongs - we may just right a few!