|
|
 Below are some offices of bodies that govern and regulate banks. Be sure to file letters of grievance with each of them based on your banks dealings with you.
Office of Thrift Supervision
Consumer Response Center
Telephone (800) 842-6929
Fax: (202) 906-7342
E-mail: consumer.complaint@ots.treas.gov
website: http://files.ots.treas.gov/480924.pdf
Board of Governors of the Federal Reserve System
Division of Consumer and Community Affairs
20th and C streets, NW Stop 801
Washington, D.C. 20551
Telephone: (202) 452-3693
Website: www.federalreserve.gov
CA Department of Financial Institutions
1810 13th Street
Sacramento, CA 95814-6900
Telephone: (916) 322-6900
Fax: (916) 445-2123
Toll Free (inside CA) (800) 622-0620
Website: dfi.ca.gov
ABC 7 on YOUR SIDE, BAY AREA
900 Front Street
San Francisco, CA 94111
(415) 954-8151 (10 a.m. -2 p.m. M-F)
BE SURE TO CC: YOUR BANK'S CUSTOMER SERVICE DEPARTMENT ON ALL YOUR LETTERS TO MAKE THE MOST OUT OF THE IMPACT OF YOUR GRIEVANCE!
Below is a list of predatory lending violations. Feel free to use this list as a starting point in drafting your grievance.
Predatory lending practices in Mortgage Origination include:
0 Excessive points;
0 Charging fees not allowed or for services not delivered;
0 Charging more than once for the same fee
0 Providing a low teaser rate that adjusts to a rate you cannot afford;
0 Continually refinancing your loan or “flipping;” (Did your broker tell you "dont worry! We'll refinance before it adjusts!"? Thats "loan flipping.")
0 “Steering” you into a loan that is more profitable to the Mortgage Originator; If you are in an ARM, NEG AM, BALOON, OR HIGH INTEREST LOAN, THIS PROBABLY APPLIES.
0 Changing the loan terms at closing or “bait & switch;”
0 Closing in a location where you cannot adequately review the documents;
0 Serving alcohol prior to closing;
0 Coaching you to put minimum income or assets on you loan so that you will qualify for a certain amount;
0 Securing an inflated appraisal;
0 Receiving a kickback in money or favors from a particular escrow, title, appraiser or other service provider;
0 Promising they will refinance your mortgage before your payment resets to a higher amount;
0 Having you sign blank documents;
0 Forging documents and signatures;
0 Changing documents after you have signed them; and
0 Loans with prepayment penalties or balloon payments.
0 Failing to provide translated copies of ALL documentation associated with the loan: application, advisements, note paperwork, disclosures and estimates.
Mortgage Servicing is the process of collecting loan payments and credit your loan. Predatory lending practices in Mortgage Servicing include:
0 Not applying payments on time;
0 Applying payments to “Suspense;”
0 “Jamming” illegal or improper fees;
0 Creating an escrow or impounds account not allowed by the documents;
0 Force placing insurance when you have adequate coverage;
0 Improperly reporting negative credit history;
0 Failing to provide you a detailed loan history; and
0 Refusing to return your calls or letters.
0 Mortgage Collection & Foreclosure is the process Lenders use when you pay off your loan or when you house is repossessed for non-payment
*** DONT KNOW WHETHER THE BANK IS IMPROPERLY SERVICING YOUR LOAN? WRITE A LETTER REQUESTING YOUR LOAN HISTORY AND SEND IT CERTIFIED MAIL TO CUSTOMER SERVICE. BE SURE TO STATE "I BELIEVE SOME OF MY PAYMENTS MAY HAVE BEEN MISAPPLIED. PLEASE SEND ME MY ENTIRE LOAN HISTORY. THANK YOU."
Predatory lending practices in Mortgage Collection & Foreclosure include:
0 Producing a payoff statement that includes improper charges & fees;
0 Foreclosing in the name of an entity that is not the true owner of the mortgage;
0 Failing to provide Default Loan Servicing required by all Fannie Mae mortgages;
0 Failing to follow due process in foreclosure;
0 Fraud on the court;
0 Failing to provide copies of all documents and assignments; and
0 Refusing to adequately communicate with you.
|
|