America's Servicing Company [ASC]
Reviews and Complaints

You probably don't even need a loan mod, just want a lower interest rate.

I had terrible experience with this company! Beware people!

Hello my name is Larell Bryant and I'm experiencing the same thing with Wells Fargo, as Brenda, here in NJ. They took me in and out of court from November of 2013 til February of 2014, which I was granted, at least so I thought a new monthly loan modification and was pleased with my $300.00 dollar difference, now just recently August of 2014, Wells is telling me that I'm behind in my payments, which are back to $1508.99 and I never received this in writing, which also means it was a fake loan modification which took me out of work every month for court dates, so who can I turn to for help in this matter, this company has no right to toy with innocent peoples lives!

No they do not want to work with you at all.

I could probably write a book about this RIP OFF Company! My loan was also sold by Option One Jan 06. I became ill, contacted them in May 06. Stated organ has failed, going in for transplant in July. Please advise process if payment missed. By July 19, 2006, I had received no response. Each time I sent a letter (to have proof) and also faxed, it took 45 or more days for them to respond. By the time I return from the hospital, they are now calling me twice a day (or more) about the missed payment. They sent a letter stating options were to add the missed payments at the end of the loan or receive a deferment / moratorium. It took so long for a response, I wrote the chairmans office. I now know why the company sucks! It took that office so long to respond, I had forgotten I had written them (over 60 days). And, then the lady said she had to go back to the customer service office. (Completely unable to assist.) Just to cut this short, let me warn you, if you are late on a payment you are not eligible for a deferment. If you are late, you are unable to add a payment to the end of your mortgage, so I ask--why send a letter offering the options? They finally sent a letter to foreclose, I went to an attorney.

If your loan is sold, I strongly recommend you re-finance elsewhere!

I have America's Servicing Company as my mortgage company, and I too am extremely upset with the service. I agree with one of the writers that ASC will call me if I am a few days late, but I can never find anyone to help me when I have a concern. I am in the process of trying to refinance my loan, and when I pulled my credit report, I discovered that ASC had erroneously reported to the credit bureau that it had started foreclosure proceedings twice, but I timely make my payments every month. To make matters worse, when I requested a letter providing that it was in error in reporting these comments, it would not state that "it was in error;" the mortgage company I am seeking to go with requested this information. Rather, it wants this mortgage company to interpret my payment history and deduce whether it was in error. And, as to any letter I was to receive, it told me it would take two (2) weeks to process. Okay, the letter went out on April 25, but it is now May 9, and I still have not received a letter. ASC says it can take up to 7 to 10 business days for the mail to reach me. Okay, fine, can I get a fax? I have requested a fax of the letter twice, but sill have not received anything. ASC rips off homeowners with the expensive fees it charges. It abuses its power by reporting erroneous information to the credit bureau. And it hurts those homeowners who are trying to do the right thing!

I was laid off on 12/30/08. I called ASC to let them know that I would be receiving regular paychecks through the end of Feb. and apply for a loan modification, knowing money was about to get very tight. I was told that I was ineligible to apply because I was not behind on my mortgage. When I asked "Isn't that the point - to NOT get behind?" I was told that there was no reason to lower my mortgage if I could currently make the payments and to call back when I couldn't. I called back in Feb. and was told that even though my money was running out, I would have to be 2 months behind to apply. In April (now 2 months behind) I called and was told that again I was ineligible because I didn't have a job. I told the csa that it would be a lot easier to get caught up and be able to make my payment if it was lowered, that although I was actively job hunting, nothing had come together yet but I had applied for unemployment. I was told to call back when unemployment came in and they would discuss applying at that time. I was in "adjudication" for 4 months. I have finally received a lump sum in back payment, but now that lawyers fees etc. are involved in my foreclosure, I am unable to save my house. It upsets me because I've been trying from the beginning to keep them notified and have them work with me. They still call me several times a day, even though they've sent me into foreclosure. My only hope now is to apply for hardship and try to short-sale my home. They contradicted themselves every time I called. I think this is intentional and they don't really care about their customers - as one of their reps so eloquently stated in their slam of all customers.

I agree...my cousin in Hawaii, is fighting this company because of fraudulent activities and it has been 5 years since she started the process, with an attorney. These Mortgage companies keep changing names, selling to other mortgage companies so often, it's difficult for the home owner to know to whom they must pay their mortgage. It's OUTRAGEOUS! This country is going to the Trash Can, with Mortgage Companies, Banks and Wall Street, and our Congress leading the garbage trucks.

HORRIBLE EXPERIENCE! They are raking up fees and milking this "supposed" modification review process for all it's worth! This has been going on for 3 months now with "never received documents" "you need to talk to ____ department" "the date on that document is now over 30 days old and we need a new one" "I will make sure this is expedited right now" call back in a week" "call back in a week "call back in a week" "oh, sorry it has been over 30 days! we need you to reapply, resend everything again with updated information so we can open you a NEW CASE"
UNREAL!

I have made several attempts to reach ASC on July 31, 2007. I have been trying to call them since 8 am to 11 pm. Every time I have called them, its an automated response and I'm kept on hold for 70 minutes, 43 minutes, or told by the automated machine that I can be transferred to another automated response If I choose not to wait for a representative. When the prompt directs you to press 9 if you don't want to wait for a representative, your placed on hold indefinitely and your unable to make your payment over the phone. I feel that they have set up their phone system in a way to identify homeowners who are paying at the last minute, so that their calls are never really answered and payments end up being late, because they - ASC is unreachable. This is ridiculous. The more you're late, the more they collect - its wrong, it's not right, They have set up their system to screw you. Something needs to be done. A class action suit needs to be brought against them by all who have been affected by their fraudulent business practices.

REPORT ASC TO THE FEDERAL TRADE COMMISSION. I KNOW IT WORKS.

First of all i am a collections rep for asc out bound collections... and first let me tell everyone do you know what asc is... its a NON-PRIME Loan servicer for everyone who doesn't know what that means it services bad credit loans, wait let me rephrase that horrible credit loans, and it makes me laugh when im talking to you and your there talking about how perfect your credit is and i see when im calling you and i see your true double digit credit scores... also your payments are due on the 1st not the 16th people who have bad credit seem to find this confusing thinking the 16th is your due date because thats when you get your late fee... also have you ever wondered why you get stuff from wells fargo with your mort. payment stuff , because asc is affiliated with wells fargo but wells fargo just doesnt want to be labeled the company with all the bad credit loans... how does asc end up with your loans... companies suck as freemont, countrywide, emc... etc companies originate loans the, prime loans (excellent credit) sub-prime (mediocre credit) and non-prime(bad credit)... the originating company keep your loan for 2 months if your lucky ,then thats where the fun starts the prime loans get sold to a company the non prime loans get sold to a company and then asc get all the non-prime loans get sold to asc... so i hope all this info answers your questions to why you have this horrible company servicing your loan... all because you all have horrible credit no one to blame but yourself!

Oh yeah i know asc is a screwed up company but i also find it funny when i hear people talking about sueing asc... and winning... yeah right when you walk in the court room with your bootleg lawyer and then asc/wells fargo comes in with its all-star team of lawyers who get paid more in 1 day then your lawyer will make in a year... do you really think your going to win your lawsuit.

I coudn't agree more. ASC is staffed by people whom I would not hire to flip burgers at McDonald's. It has taken 2 weeks and 10+ calls to post a simple authorization letter, so they can discuss the loan with me. Despite faxing the same information to them FOUR times (including twice to supposed escalations unit), I just was told that the authorization is invalid. Reason? The authorization is not notarized! Hmm, it certainly is! Even their rep admitted they see the notarization on the document. But, no matter. The rep can't do anything (and this is a supervisor) until the guy that said the authorization wasn't notarized actually admits it was notarized. Sounds like a circus? You bet.

And this is just getting in the door to speak with these people! I can't even imagine what's on the other side of it, judging from the incompetence thus far.

Since January 2009, I have tried to get a loan modifacation and have been unsuccessful after sending my information at least 6 times and each time I call to check on my progess I get a lame excuse about all documenation need to be no older than 30 days but yet no one contact me to continue the process. Also, as I go over my monthly bill I notice when my mortage is mailed 10 days prior to it's due date it is always created to my account on the 16th of the month and they charge me a late fee when the statement clearly says a late fee will be charged after the 16th apparently the company does not know the difference of the words on and after. I am also appaulled at how they what to charge you a $15 fee to pay a bill on line, how in the hell are they allowed to charge a fee to pay a bill. I would love to the be involved in a class action lawsuit against this rotten, unprofessional company. aypendletonrn@embarqmail.com

I am also another of unfortunates to the perils of ASC they have forced us into loan modifacation and after that they changed the rules to benefit them, They even go as far
as to go back a whole year to squeeze us for more money .
I have stage 4 Colon Cancer and i just found out they increased my payment by 400.00
a month plus have not been appling my payments and the increase will just hurt us .
This Company has to be stopped and looked into by the federal government and i do
agree that a class action lawsuit by all of us should be started. This Company is ruining
peoples lives and without a care because they can and no one has tried to stop them .
I think that enough is enough and no one should lose their homes to them.
friskies2c@aol.com

go to www.naca.com go over to home save, stroll down to process, read and follow all instruction, go to a workshop, schedule a Telephone counselor, print your fax sheet with your NACA ID number on it and fax them what ever it ask for, and they will help you, credit doesn't matter, if you are working with American Servicing co for help they will submit all of your stuff and you will get a affordable mortage, for life of the loan. A email address is required, and remember your email address and passwork it is hard to change it PLEASE PLEASE that help everybody I had applied for a modification and they over rode that, they sent all of my stuff to asc and they had to act on it. let me konw how you come out. Email me at Prayful10@yahoo.com
prayful10@yahoo.com

ATTENTION EVERYBOGY, go to www.naca.com go ever to Homesave, stroll down to process, enter all of your information for ten steps, see if there is a workshop in your area, schedule it, if not they will let you know, then scheldule a TELEPHONE counselor to call you, it is free, they gave me a fixed rate, and reduced my payment by 300.00 a month www.naca.com please please no fees no money print your fax sheet and fax your information to them, PLEASE IT IS WORTH IT, they will present everything and negoiate a loan restruction with your loan company, it doesn't matter if you are working with your mortage company, they will OVERRIDE them, good credit, bad credit it does not matter, no closing fee or anything, they can tell u when they call u for your telephoe interview, what your mortage will be how much, do this, fax all of you documentations to them with your personalized fax sheet, with your naca I d number on it.

I sent in all of my paperwork on June 1, 2009 for a loan modification, was told it would take 30-45 days. I call every week and get a different answer. I called on 8/18/09 and was told that the appraisal was recieved and a negotiater should be assigned in the next couple of weeks. I called back today and was told that my file has not been set up yet! I HATE this company. They do whatever they want! I continue to get letters stating they are setting up insurance for me for 500.00 - I have homeowners insurance and my insurance company continues to send proof of insurance, but ASC continues to send these letters!

I AM IN AN INTEREST OMLY LOAN WITH THIS COMPANY I HAVE BEEN TRING HELP TO MODIFY MY LOAN THROUGH THEM SINCE JAN OF 2009 THEY KEEP GIVIBG ME THE RUN AROUD DENIED 2 TIMES AND THEY TOLD ME TO REAPLY FOR MODIFICATION AGAIN, THIS HAS BEEN SO FUSTRATING I PAY MY MORTGAGE ON TIME EVERY MONTH AND THEY STILL WONT HELP ME.aLOHA FROM hAWAII

Halonet, Mark, and Sharon:

Thank you for your comments. I appreciate your information posted and I agree with all of you. Changes to need to be made now and not in the future. Life happens and if they cannot assist a family in their time of crisis why purchase a home. What happened to the American Dream?

I was in an accident in 2007 and was in the hospital for two months. Three surgeries later, I lost my job while hooked up to IV drips. Ugh! As you stated Mark, no mortgage company or HUD qualifies one to have their current loan modified, % rate decreased, etc. Unless you have some sort of income stream, one will not qualify for any considerations in regards to your loan. Which is odd, because if we are collecting the maximum unemployment benefit per week, as you know, still does not provide you with the income needed to pay your monthly mortgage here in Ca. COBRA benefits cost me nearly $700.00 per month. Unemployment benefits do not cover COBRA nor the rest on your monthly expenses.

Here in CA as you probably know, our home values decreased exponentially. Many of these lenders are not willing to make the necessary adjustments to the principal at today's housing market values. I learned that a lender is compensated on the approval of your original loan. However, when your loan is then sold in the future to a "Servicing Company'", the incentive for a loan modification is not part of their compensation plan. There is no commission plan in place for these companies to service our loans. They don’t care about your job loss or anything else going on in one’s life. If they don’t get paid they don’t want their time wasted. I was shocked and appalled when I learned this information. I couldn’t believe that there is no incentive for these professionals to take into consideration the financial hardships, unemployment, death and dying, stepping out of one's career to take care of an elderly parent, sick child, etc.

The Congresswoman from Orange County, brought this to the CA consumers attention in 2008. She started contacting these company's on behalf of homeowner’s. There were several times she said that she couldn’t reach a company representative and went through the telephone automation maze.

Evidently, as I understand it, our representatives are now attempting to change the laws so the Servicing Companies are held responsible for their unwillingness to help consumers. Finally, they need to be compensated for modifying loans, to date they are not, so this has to change. I was shocked when I learned this fact. These financial institutes are truly playing - "Chess" with our lives. They can choose to help you or not. This should not be negotiable. Let’s change the laws to protect homeowners and the American Dream.

**See posted: 2008-02-23 by Sharon ~ “Not legally allowed to foreclose”

Sharon encourages everyone to contact the FTC [protected] and file a complaint. She also encourages everyone to call your congressman or woman, the better business bureau, state dept., consumer protection agency, state attorney general and not to delay.

I found this encouraging, she also shared that the FTC last year settled a class action case against EMC for the same predatory servicing of loans. There is hope! Together we can make a difference.

Thank you.
Sophie

I also agree that changes need to be made.

1. after 38 years of employment I lost my job.
2. I am currently on unemployment so mortage companies or modification to current loan
companies will not help
3. I thought that is why the program was to help the people who lost their jobs due to the construction industry, which I was employed.
4. My current lender will not work with me, I have called 3 different times to ask for the modification paperwork with no success

Help
Mark C.
Temple, Ga.

President Obama? Really? You're that clueless? Can't you do anything for yourself? You need OBAMA to help you?

I file a complaint to Federal Commisions because this company have not grant me a modification after 7 months now. I took my other mortgage company 1 month. Its been in the review status for almost a year now. We need to stand up to this company as consumer and have them closed down.

I am going thru the same exact thing! my story is i got behind due to a house fire two years ago! Then lost my job and stillnot in it due to a contractor ripping us off! and ASC paid them! they are holding the rest of my funds in an escrow acct. and wont release them until i find another contractor who wont touch it cause so much of the work has to be re-done and that cost money! and where do i get the money from?

Oh please. Let me just start off by saying that if you got stuck with a first and a second ARM that you should be pissed at the closing agent. Second even the most crooked of the crooked is not going to put a 7% cap per ir change on your loan. Thirdly you would have to have like a 13% margin and that means u either have the worst credit on the planet when u took out the loan or u look as stupid as u sound on here and just got straight taken advantage of. Anyway you look at it you didn't bother to read your docs at closing and that is nobodys fault but your own and certainly not asc's fault

I agree we have been trying to work with ASC for almost a year now to get our mortgage modified to a fixed rate. I talk to them at least every other week and they always need me to send updated letters and statements and paystubs.. I don't know how this can be legal I am loosing sleep and am so stressed over this we do not want to lose our home. We have two small children and live in our dream home and wish that there was something that we could do. We have called several different people (Hope for Now, Ect.) we have even tried with a lawyer, but we just cannot afford any extra right now. We are willing and doing everything that they ask of us and still we get the run around. Is there anything that we can do...We are running very short on time and are looking for anything. Please help...

I agree...anyone who wants to help find an attorney in Idaho or wherever for a class action suit, write me or contact [redacted].com to get help to go to court. I am filing NOW!

Lori2oo2
or lori2002@cableone.net

This is the worst company i have ever been with. They bought out another lender and call at least 5 times a week asking me to make a payment. Their rates went up within a couple of months without letting me know about it. Never deal with this company.

We have been going back and forth for over 18 months with ASC - aka Wells Fargo. My husband is a disbabled vet. We were blindsided when he was laid off his job and what with the length of time it takes to get disability benefits from the VA and social security...that was the only reason we even fell behind. They have repeatedly tried to foreclose, we have completed 2 forebearances. We just got out loan modification papers on the first. We are still working out terms on the 2nd. Word of advice...buyers beware...don't let anyone talk you into the first and 2nd mortgage or interest only mortgage to get into a house. It's a virtual nightmare. Anyway, as I said we just got our loan modification. We are working with the local housing authority who is helping us deal with these scam artists. We just executed the modification and wouldn't you know it. The day, the very day they received the loan modification papers back about 4 hours later our house is showing up on the trustees website with an active sale date of 7/24/09. It's a real wonder a lot of us homeowners don't band together and go gunning for these ###s. Anyway, I'm sure it's to the point now with the new laws passed they are going to wind up removing the listing or it'll be their turn to take the heat. These banks don't deserve these bailouts Obama has been handing them. They deserve to be out of business.

My mortgage was sold to ASC and every 3 months they are raising my payments. 1 time Iwas 2 weeks late and they threatened to foreclose they are a disgrace to financial institutes.

I HATE THIS COMPANY!
Not only changed our initial company without giving us another option before doing that but also they RIP US OFF every month with the fee they charge when we pay over the phone $15 or $10 over the phone!
So far I have no option but once I have the opportunity to refinance I WILL KICK THIS COMPANY'S BUTT. HATE YOU ASC!
We should sue them ASAP!

This company suck so bad. I got laid off Nov of 2006 and I feel behind in may of 07. I called them so many times to make payments when my unemployment checks would come in and they would not take them. They wanted the hole mortgage at once. I just wanted the money out of my account so I knew it was going to my mortgage. I ended up having to borrow money from my grandparents and I got them paid all but 1000$ and I told them if they could wait 3 days I would have my paycheck and I would be able to pay that to. They said no pay the 6000 and we will just add the 1000 to your monthly payments. I said so will that mean I am out of foreclosure. The lady said yes it will bring you out of foreclosure and it will stop bad reporting on your credit. So I said fine. Well tonight I spoke to ASC and the guy told me "O NO it will still report bad on your credit until I pay that off.Plus I get charged fee on top of it. I am so pissed off right now. I think they need to be shut down fast.

I have reported them to my US Senator and plan to report them to our Attorney General. They have done so many things that are illegal and they are so corrupt that our HUD counselor is stupified. We have had 3 forebearance agreements and they broke two of them through sheer incompetence. We are considering filing bankruptcy but are waiting to hear the Obama plan.