America’s Servicing Company Review
Author: Rob K. Blake
Published: August 19, 2008
America’s Servicing Company (ASC) appears to be a the mortgage servicing subsidiary of Wells Fargo. We located a website and six phone numbers for Americas Servicing Company along with a number of complaints.
America’s Servicing Company Website and Phone Contact Info.
America’s Servicing Company Website: https://www.ascservicing.com/
America’s Servicing Company Phone Number:
800-662-3806
866-674-1430
866-567-8439
800-842-7654
866-567-8440
866-426-5569
Fax: 866-453-6315
Address: P.O. Box 10328, Des Moines IA 50306
America’s Servicing Company Review
Remember a mortgage servicing company may own your mortgage loan or just the contract to service your mortgage loan, so if you are attempting to execute some form of mortgage modification to stave off foreclosure, contacting the mortgage service company can be a waste of time since they may not own your mortgage and can’t make any changes. In the case of ASC, if they own your mortgage, you can discuss loan modifications, but of course, modifications on mortgage loans not in collection or default is useless.
If you are facing foreclosure you need information on how to cut a deal with these “drag their feet” servicing companies to avoid foreclosure, click the link to learn more, Stop Your Foreclosure Now!.
It appears when I search for complaints against America’s Servicing Company, they go on forever. This company is accused of every mortgage servicing bad behavior imaginable. Click here to see all the ASC complaints listed in Google.
BBB Complaint Activity on ASC
“The BBB processed a total of 368 complaints about this company in the last 36 months, our standard reporting period. Of the total of 368 complaints closed in 36 months, 131 were closed in the last year.”
See Comments Below to Add/Read Customer Opinions On ASC
Add your comments today about this mortgage servicer and help out others.
Thanks!
Author: Rob K. Blake
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Does anyone have the name of the CEO of this company? I am trying to save a client from foreclosure by negotiating a shortsale with this lender, and we cannot get a response on our offer from the “loss mitigation” department. (Going on 4 months now) We are in danger of loosing our buyer on the property if we can’t get one soon-a disabled Vet who fought in Iraq-she needs to move in soon, or will be forced to rent.
Anybody got any ideas?
Terry
[Reply]
Rob K. Blake
Reply:
September 3rd, 2008 at 9:33 am
Terri,
Since ASC is a subsidiary of Wells Fargo, go to
http://finance.google.com/finance?q=NYSE:WFC
and you’ll find all the executives of Wells Fargo…contact them with your problem.
RKB
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I have a comment. Why,with all these complaints against this lender, do they continue to be in business? How can they steal homes away from the homeowner
in the form of default when it appears to be “THEIR FAULT?”
This is a SCAM,and they are the worst of all!They set you up to default in some cases “from the get go.” It sounds like some kind of a master plan to do more than just put innocent people out in the streets.
In my case I lost my business and my home in just a few short months! People Americans are out in the streets with no jobs,no money and it will only get worse,but wait! According to CNN, it already has!
Someone needs to see the bigger picture here and the people responsible should pay back us all and be put in prison! Look at the COMPLAINTS! This is without a doubt “MORTGAGE FRAUD!”
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I have also had problems with ASC. I won’t bother going into detail except to say assessed an unearned fee to my account when the loan was transferred and did not notify me. I have been in dispute since December 2006.
But was able to find the government agency that regulates ASC (and perhaps all servicers?). They have opened a case against ASC and I may finally get results.
Here is what I did…
I avoided calling on the phone. I wrote RESPA qualified requests and kept all documents I wrote and those I received. Keep your requests to them short, clear and on topic. As frustrated as you may get be polite. Keep your requests to one or two items. It is better to write multiple requests rather than bunch them up in one letter. They will answer one or two and ignore the others. Also, it might not be a bad idea to send the letter requiring signature. Mark on a calendar the day you sent the letter. Read and understand the RESPA laws. Use the laws to word your requests or lead ASC to violate some part if the law. It may take many letter. Mine did and it was a lot of work. But I do not want to see this happen to anyone else.
Finally, if you run into a wall (no resolution), call gather up your documents, make photocopies and file a complaint with http://helpwithmybank.gov/complaints/index.html
This is the U.S. Government Office of the Comptroller, Consumer Assistance group. They are the regulators of National Banks which ASC falls under.
If you get the Comptroller to open a case and you think they violated a RESPA law, make another set of copies to send to HUD/RESPA regulators.
[Reply]
B Pascone
Reply:
November 18th, 2008 at 9:12 am
I was just informed by my mortgage company that my mortgage was sold to asc. So I went online to check out this new company. WOW in reading all of the above information am i now in trouble? My first payment is due Dec 1. 2008. I am now scared that this company will not have any information on my loan transfer and my first payment will be listed as late. If anyone out there can HELP me please respond.
[Reply]
Rod Satre
Reply:
November 18th, 2008 at 11:11 am
yes, you should be worried. Best to track you payments via mail to confirm they were delivered and when. ASC routinely claims they are late and charges late fees. You can only fight them when you have proof of delivery. Just use the USPO that can be tracked on the internet. It’s worth the extra 6 dollars.
And if you pay check by phone, they don’t process it until its past the due date, even when you paid early. Not worth the extra $20 to do that
Do everything in writing and request that real names are provided in any reply. That’s the law
learn RESPA!
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I ALSO HAVE HAD TROUBLE WITH ASC. EVERYTIME I CALL THERE NO ONE KNOWS ANYTHING. I HAVE BEEN TRYING TO GET MY ADJUSTABLE MORTGAGE CHANGED TO A FIXED MORT. WITH THESE PEOPL AND ALL I GET IS A NO. THEY DON’T EVEN WANT TO HEPL PEOPLE. HOW CAN THEY BE SO CRUEL? I HAVE BEEN TRYING SINCE 2007 AND HERE IS IT ALMOST THE END OF 2008 AND STILL NO HELP. MY PMTS. HAVE ALWAYS BEEN ON TIME EXCEPT ONCE AND YET THEY TELL ME MY MONTHLY EARNINGS DO NOT MEET THEIR STANDARDS. I HAVE HAD THE LOAN WITH THESE PEOPLE(WELLS FARGO I UNDERSTAND) SINCE 2005 AND YET THEY WON’T BEND TO HELP ME. SOUNDS LIKE THEY WANT THESE HOMES AND ABSORB THE LOAN. I HAVE GONE SO FAR AS TO WRITE TO THE COMPTROLLER OF THE CURRENCY AND THEY TOLD ME I WOULD HEAR FROM WELLES FARGO AND THAT WAS JUNE 2008 HERE IT IS SEPTEMBER AND NOTHING. I DON’T WANT TO LOSE MY HOME I BEEN HERE FOR OVER 43 YRS. MY HUSBAND US DECEASED AND NO ONE WANTS TO HELP. MY CHILDREN HAVE BEEN HELPING ME WITH SOME OF THE HOUSE PMTS ALL THIS TIME BUT HOW MUCH LONGER CAN I EXPECT THEIR HELP WITH ECONOMY THE WAY IT IS. WHY CAN’T ASC HAVE A LITTLE HEART AND HELP ME INSTEAD OF THROWING ME TO THE SIDE. THIS COMPANY IS HEARTLESS.
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I talked to a lawyer who basically said,”you cannot fight the GREAT OZZ and win not with the attorneys they have!” Homeowners,just walk away thinking WHAT?I did what I was suppose to do and my lender has done all they can
“NOT TO!” What’s going on here is FINANCIAL TERRORISM!Some of the homeowners were terrorizsed into giving up their homes without a fight they felt they’d end up losing!
It’s like this was a master plan,a way to throw AMERICAN’S out in the streets
a way to break this country and this was exactly what my partner and I thought back in 2006.I can’t go into detail here,but OMG!I feel like I was financially raped by someone I’ve never met!
I have every single thing ASC sent me,but what do I do with it now that my business,my home,my car,and all my belongings are gone?I did send my response to the court when WFC was trying to foreclose on me and I received word back that my answer was sufficient!!!Then,after I sent a few more documents (the same ones as before)somehow I was hearing back from the same court that my answer was now not sufficient,how can this be?
I’ve been doing research on ASC for the past two years and reading all the complaints which was overwhelming!Not just ASC,but other stories about other lenders and all I want to know is why something wasn’t done long ago?For a very long time people out there were calling us (the homeowners)
DEADBEATS!People who were given loans without a clue like “hey stupid”
now you have to make those payments,no kidding?
You are all forgiven because soon you will all see the truth.Sure,there are people who were deadbeats who didn’t really try to make their payments
but most of us were innocent and we were cheated,lied to,DECEIVED!
When I called these people trying to get my point accross they delighted in telling me NO!I sold all I had to catch up on my payments they said I owed
which was bogus,but I did try and they told me NO,they’d send it all back and
I needed to “GET OUT!”
I tried to refinance and it was a go from my end,but after they said I could
and made me promise a pay off at the end of April,2006 they drug their feet,wouldn’t fax,or call the man working on my new loan,and didn’t send my pay history until five days before this deadline.They ran me into a brick wall!
Now,they want to help people keep their homes and thank God for this,but
what about the people who have already lost them and in some cases their businesses,too?What can we do?These people working at ASC needs to come clean and tell the truth about how they were trained to set people up to fail and why.Homeowners,call CNN!
[Reply]
Agh..This company! I recieved an escrow overage check, Aug. of 06′.
Cashed it and used it for some well overdue home repairs. That Sept. recieved a letter stating my mortgage would be increased a near $800. to compensate for a negative escrow. I’ve been paying back that money ever since. The mortgage payment increase caused me to get behind in payments, falling short on escrow payments and becoming way to close to foreclosure. HELP, I needed to get out from under such deceitful business tactics. I called several mortgage lenders but by now my credit is so damaged no-one wabts to risk a loan. I’ve been able to bring my account up to an acceptable “LATE”, but now when I send checks to the company they arent cashing them! For example- My last check was sent on Sept. 26th, today is Oct. 8th and the check has yet to be processed. ASC costumer service is currently researching the hold up. I patiently holding my breath! I will not loose my home to this company, I will fight!
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Hey Ya know The folks campaining for Presidency ought to stop being so political and read some of these things. We also were victims of the whole scam
of the adjustable mortgage when we took out the loan our score was in the 700’s we had no clue We could have originally got an FHA loan. 14 days later we were in the new house we asked lots of questions were told oh dont worry about a thing in 2 years we will refinace and it will be all good the 2 years came about then we were told your upside down on your loan and we cant refinance you well guess what we went from 2400.00 to 3400.00 for a mortgage payment we barely make 4,000 a month take home what about the cars we had the insurance and food and gas talk about rip off. We let them have it back. There was no way we could afford a payment like that. They screwed up from First Franklin selling the loan off to ASC then they gave us the run around for the remainder time of the loan. Hey we must have had SUCKER written across our head. If I could afford a Lawyer I would we are just hard working folks jsut like the rest of them. They just know how to manipulate people and collect fat bonus checks Trust me If the two running for the Presidents Office were to help the ones who lost their homes to this greed I think we would be voting for them.
[Reply]
just a quick note: last fall my husband and i fell behind in our payments, we called and arranged a repayment plan after they refused to defer a payment for us saying they dont do that. we paid our inflated mortgage everymonth till january when i used our tax refund to get current (thank god) but after all the fees and lawyers and titile search fees the amount we owed was over 4000! anyway after we paid them i got my next statement and it said we still owed them an addtionl 727.00 for attorneys fees!
i called and spoke to 2 reps who said we owed the money it was for not forclosing (end paperwork that was done after we got current) i asked for the number for the other dept the one who we did the repayment plan and gto thru to them and one rep said oh your 727.0 0 is in a suspense acct! they had my money just sitting there and i never knew and im sure they were not going to tell me. they are dirty rotton i dont know wht the first two reps didint “see” this acct. beware of asc. oh and i just got an escorw shortage notice/ pay another 598.00 or your payment is going up 49.00 per month. i love it!
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I obtained my mortgage through a company called Centex. They sold the loan and ASC serviced it. Turns out, it was Well Fargo, and ASC is part of their company. They would not work with me to keep the house. They say they do but it is smoke. My home of over 20 years was forclosed on and I am now homeless.
The house sold on the day it was put up for auction on the County steps. it sold for 114k. i left it is immaculent condition. The apprasial only 10 months earlier was 200K.
The company that bought it for 114 appears to be another subidary of Well Fargo.
They stole it! In addition, I will be chased for the balance of 40K. Also, when I took out the loan, they put mortgage insurance in the contract. I assume that they have sollected off of that too. They have made a bundle cheating people, and the Government bails them out.
Not Mccain or Obama is really behind the homeowners, maybe McCain some.
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I can personally relate to all of the stories above… fell behind in payments, agreed to an unreasonable payment plan with a huge balloon payment at end of the 6 month plan, stipulation was that if I was even one day late on the agreed monthly payment all would be mute and the mortgage would go into immediate default status… well guess what, as fate would have it I fell short 4 months into the agreement and within a matter of days I was being served forclosure papers. After many phone calls and requests in writing I finally got an amount I could pay to bring loan current, this of course was to include numerous fees that no one could explain, well I was able to borrow the money from my parents and pay all the forclosure fees, back payments including late fees, was back on track paid the next months payment on time and was seeing the light when I got my next statement which didn’t show the credit for previous months payment, should have been a red flag but I gave them the benefit of doubt that they just hadn’t posted payment when statement was sent. So I made the next payment again on time, next statement arrives stating that I am 2 months past due and due for the current month. Called them to find out my 2 payments made were in a suspense account and would remain there until I paid the $800.00 in attorney fees from the near foreclosure!! Say what? I pulled out the paper work and there in plain as day print was the break down of what I had paid and yes included in the amount was a fee of $800.00 for attorney filing fees. No one could answer why the two charges for the same thing and when I got ahold of their legal department they informed me that my mortgage was in default once again and the fees regenerate themselves when your mortgage falls into default… WHAT? I had paid my payments on time they were being held prior to any other default being filed and these crooks are getting away with it or I loose my home. Also have an adjustable rate mortgage that in the past 2 years has gone up over $600 per month… what was an $1890. per month mortgage is now $2350. per month mortgage. So I want out of the adjustable rate and was told to send request to their ARM team (adjustable rate mortgage) team. I was in current status, I sent request, explained the hardship, gave financial statements showing hardship, everything they asked for was provided. Yesterday in following up before sending this months payment my husband calls them and is told that our request was denied. The man he spoke to told him they could lower our payments to $1700. per month but according to our financial statement we can’t afford that payment so we need to just keep making the $2350. payment a month. I am just sick to my stomach because now I have to once again get on the phone plead my hardship with people who seem willing to help until you hang up the phone then they write on your file in big bold letters… SUCKER… and laugh all the way to the bank with trumped up fees.
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Trying to make a long story short, almost 4 years ago we had refinanced due to my medical issues, what we did not understand was the flexable interest, so in time our payments kept climbing,so in order to keep our payments to date, and never late , we paid mortgage first and let other items go, so now we had judgements thrown on us on some credit cards, that ballooned the balance out of this world, example citi card balance was 899. now assest assistance bought it and they say we owe 7800 for this one card, so they put a judgement on us, it was 6 low balance cards, and now are all jugdements. But none of this would of happened if, our mortgage payments did not go up and I did not have amedical issue, but here we are now 3 years later, I had 3 more surgerys on my hands, and no longer can work in the management field I was in for 25 years, I am working butmy salary is only a quarter of what i use to make. So now no one will refinance our home at a decent rate, and we had been calling ASC for 5 months we let them know we were not going to be able to make the payments before hand and asked them to help, NO was I wrote letter after letter, asking to get our interest rate lowered to what a person with good credit has which is 4.75 to 6%, what did they do they sent me a letter stating my interest rate will go up to a 10% nov 1st. They worked out a forebearance lowered our payment 170 amonth and on the 4th month we were to send them 4500, and then back to the 2000 a month payments. What **** is this if my interest rate was5.75 my payments would be 1150, were we need to be, instead of 2000, noone will help us we don;t know who to talk to for help we cannot afford a lawyer, this is a loose / loose situation, I wrote another letter stating togive me a fixed 6% interest rate and they will still make money and it will help us and no one looses, but I don’t knowif they care, I explained there are litterally 35 homes up for sale and rent in neiborhood,this house will not sell, they won’t get whats owed on it. You would think they would work with us, to get something and stil make money. Anyone know whom I can call please email me at DHoverter44@comcast.net
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So, here’s my sad tale about ASC. I wanted to help my son buy a house in March 2006. His credit was poor so the mortgage broker suggested that I get a 2 year arm with a 2 year prepayment penalty mortgage AND after the 2 years get the loan refinanced in my son’s name. Good idea… So early 2008 comes around and the mortgage guy calls telling me that we need to start the process of refinancing in my son’s name. We start the paperwork and when the guy gets the payoff amount, he finds that there is an additional year prepayment penalty! Yes, I signed that at closing even though it was not the loan we discussed. Of course the original mortgage company is out of business but we track down the manager of the funding company (also out of business) and he says that the loan was definitely supposed to have been a 2 yr arm w/ a 2 yr prepayment penalty - not a 3 yr prepayment penalty. So I started calling ASC and they offered absolutely no help - telling me that I signed the paperwork and tough luck. Back to the manager of the funding company, he gets copies of all the closing documents including his handwritten notes to the mortgage company confirming the 2yr/2yr - he sends that to ASC and they still say tough luck. The payment has gone up by almost $600 per month and the kid can’t afford anymore money so Mom (me) gets to pay the extra plus all the taxes and insurance. I can not afford the extra expense - if the creeps at ASC would just refinance the loan to a 30 year at current rates, my son could afford it and ASC could keep the loan. As it is, we are considering letting the house go back to the mortgage company. So many big banks getting bailed out and all I’m asking for is to have a good loan refinanced at current interest rates - without a prepayment penalty of $18,000.00.
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I have been in a forclosure fight as plaintiff for nearly two years. You also need to keep records of when the payments were delivered, but if you ask for signature, they sometimes do not accept the delivery. It happened to me.
Their MO it to delay depositing the check until it is late, then adding a late fee to the amount owed. Write RESPA qualified letters, forget about phone calls, but should you do this identify the person you are talking to with their special id as otherwise they will just throw out any information that does not specifically name the person date and time of the conversation.
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I can not believe that no one can help the hard working homeowners from these %^&*%% people….
God is looking and i can bet this company is going down very soon…..
God Bless America
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I feel for all of you! I have a client that is in a very similiar situation that many of you described on this site. I spent many hours on the phone with ASC trying to order pay-off statements and payment histories. I received the payment history after many requests and added up the numbers, only to find discrepencies to what ASC was telling my client. My client had to agree to pay an absurd amount of money to “catch up”. At the end of the repayment plan, he was told that ASC would allow him to refinance. Low and behold, when it came time to refinance, they claim that they never received a payment!
I agree with all of you in that this company needs to be investigated for severe violations and need to start taking care of it’s customers.
I will once again go to battle for my client and I hope to get this resolved. I will keep you posted.
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Please understand, ASC does not work for the home owner! They in fact state they have no “fiduciary responsibility” to the home owner. This means that if they can figure out a way to take advantage of you, they will!
As to state and federal regulations, those would be nice rules if they were followed, but ASC point blank says they do what they want. Reasoning is not going to work, take them to court.
We can also show a pattern of predatory practice if we assemble our information with sworn declarations. you can contact me at rdsatre at live dot com
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