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	<title>Comments on: Predatory Servicing</title>
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	<link>http://loanworkout.org/2007/10/predatory-servicing/</link>
	<description>Loan Modification &#38; Home Loan News</description>
	<lastBuildDate>Sun, 21 Mar 2010 16:56:28 -0700</lastBuildDate>
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		<title>By: Junior</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-15034</link>
		<dc:creator>Junior</dc:creator>
		<pubDate>Wed, 03 Jun 2009 20:48:03 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-15034</guid>
		<description>I&#039;ve noticed the analogy between drug addicts and debt addicts. It&#039;s true, a borrower does not own the home outright. You&#039;d also have to agree that most borrowers are taxpayers and as taxpayers now own stock in companies like Wells Fargo, AKA America&#039;s Servicing Company. In my humble opinion, just because someone buys a home doesn&#039;t make them a debt addict, that&#039;s like saying someone who drinks an occaisonal beer is an alchoholic. Sure, some folks who drink are alchoholic, but most are not. I was one in the beginning of the great government bail out who told it on the mountain, &quot;This Bail-Out or TARP is going to enable banks to foreclose on everything under the sun&quot;. See, a bank or investor usually buys mortgage insurance to protect themselves from fraud or other circumstances where they may lose money on a mortgage investment. And who do you think is the largest mortgage insurer in the nation, if you said AIG, you&#039;d be right. Now the middle class can&#039;t get a loan, losing jobs and homes, can&#039;t get the same protection that the banks are getting with taxpayer money. As long as the taxpayers are bailing out the investors, why would they change their habits?</description>
		<content:encoded><![CDATA[<p>I&#8217;ve noticed the analogy between drug addicts and debt addicts. It&#8217;s true, a borrower does not own the home outright. You&#8217;d also have to agree that most borrowers are taxpayers and as taxpayers now own stock in companies like Wells Fargo, AKA America&#8217;s Servicing Company. In my humble opinion, just because someone buys a home doesn&#8217;t make them a debt addict, that&#8217;s like saying someone who drinks an occaisonal beer is an alchoholic. Sure, some folks who drink are alchoholic, but most are not. I was one in the beginning of the great government bail out who told it on the mountain, &#8220;This Bail-Out or TARP is going to enable banks to foreclose on everything under the sun&#8221;. See, a bank or investor usually buys mortgage insurance to protect themselves from fraud or other circumstances where they may lose money on a mortgage investment. And who do you think is the largest mortgage insurer in the nation, if you said AIG, you&#8217;d be right. Now the middle class can&#8217;t get a loan, losing jobs and homes, can&#8217;t get the same protection that the banks are getting with taxpayer money. As long as the taxpayers are bailing out the investors, why would they change their habits?</p>
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		<title>By: Shane Shannon</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-12319</link>
		<dc:creator>Shane Shannon</dc:creator>
		<pubDate>Fri, 20 Feb 2009 03:15:20 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-12319</guid>
		<description>I was told by an FHA counselor, to contact the FTC about my Mortgage Servicer &quot;America&#039;s Servicing Company&quot; or &quot;ASC&quot;. The FTC personnel told me to file a COMPLAINT, because everything I told them about my servicer sounded like fraud. He said if the FTC gets enough complaints about a company, they will investigate it. So everyone... start filing complaints to the FTC!!! You can get their phone number on the website or by calling (800) 555-1212.</description>
		<content:encoded><![CDATA[<p>I was told by an FHA counselor, to contact the FTC about my Mortgage Servicer &#8220;America&#8217;s Servicing Company&#8221; or &#8220;ASC&#8221;. The FTC personnel told me to file a COMPLAINT, because everything I told them about my servicer sounded like fraud. He said if the FTC gets enough complaints about a company, they will investigate it. So everyone&#8230; start filing complaints to the FTC!!! You can get their phone number on the website or by calling (800) 555-1212.</p>
]]></content:encoded>
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		<title>By: Federal Loan Modification &#187; Blog Archive &#187; Schumer decried the lenders’ tactics as amounting to “death by a thousand fees.”</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-6763</link>
		<dc:creator>Federal Loan Modification &#187; Blog Archive &#187; Schumer decried the lenders’ tactics as amounting to “death by a thousand fees.”</dc:creator>
		<pubDate>Wed, 14 May 2008 21:00:57 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-6763</guid>
		<description>[...] everyone say, “predatory servicing?” Welcome to mortgage servicing [...]</description>
		<content:encoded><![CDATA[<p>[...] everyone say, “predatory servicing?” Welcome to mortgage servicing [...]</p>
]]></content:encoded>
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		<title>By: Schumer decried the lenders&#8217; tactics as amounting to &#8220;death by a thousand fees.&#8221; &#124; Loan Modification &#38; Home Loan News</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-6765</link>
		<dc:creator>Schumer decried the lenders&#8217; tactics as amounting to &#8220;death by a thousand fees.&#8221; &#124; Loan Modification &#38; Home Loan News</dc:creator>
		<pubDate>Fri, 09 May 2008 15:25:14 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-6765</guid>
		<description>[...] everyone say, &#8220;predatory servicing?&#8221; Welcome to mortgage servicing [...]</description>
		<content:encoded><![CDATA[<p>[...] everyone say, &#8220;predatory servicing?&#8221; Welcome to mortgage servicing [...]</p>
]]></content:encoded>
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	<item>
		<title>By: DODDisaDUDD</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-6762</link>
		<dc:creator>DODDisaDUDD</dc:creator>
		<pubDate>Tue, 29 Apr 2008 22:26:22 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-6762</guid>
		<description>So, is anyone doing anything about this? Has anyone dealt with First Horizon on this?</description>
		<content:encoded><![CDATA[<p>So, is anyone doing anything about this? Has anyone dealt with First Horizon on this?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: NPANTERA</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-6764</link>
		<dc:creator>NPANTERA</dc:creator>
		<pubDate>Sat, 26 Apr 2008 21:03:55 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-6764</guid>
		<description>Over the past six months, my account has been systematically
forced into delinquency by the predatory servicing practices of
Homecomings Financial. These events are well documented and
plainly indicate a deliberate effort by Homecomings to expedite
the foreclosure of my home. Predatory Lending. CASE IN POINT:

My online account is routinely unavailable- usually on or around
my payment date- which prevents me from using their electronic
system. Billing information is inaccurate or out of date and any
attempt I make to bring my account current is counteracted by
such tactics as delaying or reversing payments, applying them
retroactively to cover those they&#039;ve delayed or reversed and
refusing payments that would cure the default.

Also well documented are my repeated attempts to get assistance
through their fictitious Loss Mitigation process- a calculated series
of roadblocks erected to create a paper trail for the company while
keeping me from recourse by making it appear as if I&#039;m unresponsive
to their contrived outreach efforts. Predatory Lending. CASE IN POINT:

They continually send letters requesting that I call to discuss my
options, schedule meetings or fax information but when I do, I&#039;m
referred to someone who&#039;s on vacation, my call is dropped during
transfer, appointments are no longer available or my fax is never
received.

Their methods are transparent and though I find it unbelievable
that a company would victimize it&#039;s customers so ruthlessly, the
facts speak for themselves. There are hundreds of complaints on
the internet and in the courts from similarly situated individuals
who&#039;s experiences establish a pattern of abuse by Homecomings
that insures the company&#039;s profits at the expense of the borrower.

I have filed complaints with the FTC, the Attorney General, the BBB
and various other regulatory agencies and I urge anyone who has,
or suspects they have been victimized by this company to follow suit.
I don&#039;t know if we can save our homes but perhaps we can prevent
further harm by demanding that Homecomings take responsibility for
their devastating actions and address the situation appropriately.</description>
		<content:encoded><![CDATA[<p>Over the past six months, my account has been systematically<br />
forced into delinquency by the predatory servicing practices of<br />
Homecomings Financial. These events are well documented and<br />
plainly indicate a deliberate effort by Homecomings to expedite<br />
the foreclosure of my home. Predatory Lending. CASE IN POINT:</p>
<p>My online account is routinely unavailable- usually on or around<br />
my payment date- which prevents me from using their electronic<br />
system. Billing information is inaccurate or out of date and any<br />
attempt I make to bring my account current is counteracted by<br />
such tactics as delaying or reversing payments, applying them<br />
retroactively to cover those they&#8217;ve delayed or reversed and<br />
refusing payments that would cure the default.</p>
<p>Also well documented are my repeated attempts to get assistance<br />
through their fictitious Loss Mitigation process- a calculated series<br />
of roadblocks erected to create a paper trail for the company while<br />
keeping me from recourse by making it appear as if I&#8217;m unresponsive<br />
to their contrived outreach efforts. Predatory Lending. CASE IN POINT:</p>
<p>They continually send letters requesting that I call to discuss my<br />
options, schedule meetings or fax information but when I do, I&#8217;m<br />
referred to someone who&#8217;s on vacation, my call is dropped during<br />
transfer, appointments are no longer available or my fax is never<br />
received.</p>
<p>Their methods are transparent and though I find it unbelievable<br />
that a company would victimize it&#8217;s customers so ruthlessly, the<br />
facts speak for themselves. There are hundreds of complaints on<br />
the internet and in the courts from similarly situated individuals<br />
who&#8217;s experiences establish a pattern of abuse by Homecomings<br />
that insures the company&#8217;s profits at the expense of the borrower.</p>
<p>I have filed complaints with the FTC, the Attorney General, the BBB<br />
and various other regulatory agencies and I urge anyone who has,<br />
or suspects they have been victimized by this company to follow suit.<br />
I don&#8217;t know if we can save our homes but perhaps we can prevent<br />
further harm by demanding that Homecomings take responsibility for<br />
their devastating actions and address the situation appropriately.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Cheryl A Blackburn</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-6761</link>
		<dc:creator>Cheryl A Blackburn</dc:creator>
		<pubDate>Wed, 26 Mar 2008 05:29:11 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-6761</guid>
		<description>What can you tell me about California company Capital Network Funding and their history please and is it customary to do out of state re-fi&#039;s ?</description>
		<content:encoded><![CDATA[<p>What can you tell me about California company Capital Network Funding and their history please and is it customary to do out of state re-fi&#8217;s ?</p>
]]></content:encoded>
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	<item>
		<title>By: Chris</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-940</link>
		<dc:creator>Chris</dc:creator>
		<pubDate>Wed, 13 Feb 2008 22:33:55 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-940</guid>
		<description>doyjay,

you spelled never wrong.</description>
		<content:encoded><![CDATA[<p>doyjay,</p>
<p>you spelled never wrong.</p>
]]></content:encoded>
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	<item>
		<title>By: steph</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-939</link>
		<dc:creator>steph</dc:creator>
		<pubDate>Wed, 13 Feb 2008 21:47:15 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-939</guid>
		<description>doyjay:

you went down for a reason think about it!!!!!</description>
		<content:encoded><![CDATA[<p>doyjay:</p>
<p>you went down for a reason think about it!!!!!</p>
]]></content:encoded>
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	<item>
		<title>By: RESPA Section 6 - Fight back against predatory servicing &#124; Loan Modification &#38; Loan Workout News</title>
		<link>http://loanworkout.org/2007/10/predatory-servicing/#comment-6760</link>
		<dc:creator>RESPA Section 6 - Fight back against predatory servicing &#124; Loan Modification &#38; Loan Workout News</dc:creator>
		<pubDate>Fri, 04 Jan 2008 16:04:54 +0000</pubDate>
		<guid isPermaLink="false">http://loanworkout.org/2007/10/08/predatory-servicing/#comment-6760</guid>
		<description>[...] to the bsuiness as usual in the mortgage servicing industry. Call it what you like, I call it predatory servicing becasue that&#8217;s exactly what it [...]</description>
		<content:encoded><![CDATA[<p>[...] to the bsuiness as usual in the mortgage servicing industry. Call it what you like, I call it predatory servicing becasue that&#8217;s exactly what it [...]</p>
]]></content:encoded>
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