I have been talking about this for two years and it looks like the NY Times has caught on to the fact that mortgage servicers are screwing thousands of struggling homeowners out of their homes. Oh really?!
Come on members of the media, the missed faxes, lost mail and I can’t find your loan modification paperwork is OLD NEWS! But better late than never!
Now, maybe this will get the attention it deserves from Washington.
WE NEED TO REGULATE MORTGAGE SERVICERS!!!!!!!!!!!!!!!!!!!!
Ms. Montenegro, an intern at a local company that seeks loan modifications, dials Washington Mutual to check on the status of an application for a homeowner whose income has plummeted. She endures a Muzak-scored purgatory while on hold. Syrupy-voiced customer service representatives chide her for landing in the wrong department. She learns that the documents her company sent in have simply vanished — for the third time since November.
“I don’t know what happened,” says a customer service officer who identifies himself as Chris. “I don’t know if there was a glitch in the system, whether it was transferred from one call center to the other.”
Think of the documents as being part of a pile massing inside the bank, Chris suggests. “This pile is not going to be moved forward at any point in time.”
Read more old news from the Times
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