Canyon State Servicing Co.

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below The law states ANY document needs to be recordedAdditionally, after that phone conference that was referenced in the response, Canyon State Servicing was notified by myself and [redacted] that their unusual methods were not going to be accepted by the [redacted] Corporation because there was no guarantee that they would release the deedWe had discussed waiving the rescission period that is standard with a FHA loan, thereby putting no risk what-so-ever on [redacted] or Canyon State servicing while funds were being transferred by the required third party escrowAdditionally, [redacted] has emailed me stating that when I suggested bringing an officer of the law to Canyon State, that it was a threatBringing a peace keeping officer to help mediate a situation is not a threatIf Canyon State was doing nothing wrong, why would they concerned about me bringing a police officer on site? [redacted] demanded an apology for thisI have also asked that he not contact me, but my attorney [redacted] will be contacting Canyon State Servicing and he still continues to callI have a voicemail from him just todayThere is still a warranty deed that needs to be filedCanyon State is not a title company, they are a servicing companyThey have no right to hold the warranty deed and are not following Arizona lawThere is no liability to the seller since it is a warranty deed and it holds the stipulations to pay [redacted] My husband and I were mislead by [redacted] and we have an attorney involvedIt is not up to Canyon State to try to interpret what they "believe" is the law as they are not lawyers, they are to just abide by the lawPlease file the deed or allow us to file it Regards, [redacted] ***-***

In regards to the above referenced complaint, Mrand Mrs*** purchased their property from *** *** *** under an Agreement for SaleThe Arizona Revised Statues *** I that Mrs*** refers to in her complaint states that any document evidencing the sale or other
transfer of real estate shall be recorded within sixty days of the transferEnclosed is a copy of the *** recorded Agreement for Sale, which was recorded on September ***, the same date that the escrow closedShe is under the impression that a Warranty Deed should have been recorded at that timeWhen a property is purchased under an Agreement for Sale, only the Agreement is recordedPlease refer to Paragraph of this Agreement which states: "Seller will deliver to the Account Servicing Agent a deed conveying the Property to Purchaser when Purchaser has fulfilled all of the Purchaser's obligations to Seller under tile terms of this Agreement for Sale." We are holding in safekeeping the original fully executed Warranty Deed from *** *** *** to *** *** *** and *** *** ***husband and wifeThe Warranty Deed will not be recorded until the balance owed under the Agreement for Sale is paid in full
Mrand Mrs*** have initiated the process of refinancing this property and paying off the loan referenced aboveOn August 21st, 2014, a conference call was held between Mrand Mrs***, *** ***, Managing Member of Canyon State Servicing, *** ***, Canyon State Servicing Assistant Manager, the loan officer from *** ***, the Escrow Officer from LDEscrow and *** ***, of *** *** , LLC (seller)During this conference call, the *** 's were advised that the Warranty Deed will not be released to the lender or title company until the payoff funds for this loan are receivedThe new lender agreed to accept a copy of the Warranty Deed with the original to follow once Canyon State Servicing receives payment in full on this accountThe copy of the Warranty Deed was provided to them on August 28, The new lender has provided our company with a *** label to be used to overnight the Warranty Deed to them once the account is paid in full.The last payoff statement issued to *** *** was on August 28, This payoff was calculated through September 23, at the request of *** ***As of this date, Canyon State Servicing has not received payoff funds and has not received a request for an updated payoff statement
In summary, there is no scam taking place with this transactionCanyon State Servicing is not holding the Warranty Deed hostage as Mrs*** statesThe release of the Warranty Deed is no longer an issue and is not holding up the closing of her loanCanyon State Servicing is following the terms and condition s of the Agreement for Sale that the *** signed at the time they purchased their home
Please feel free to contact me with any questions

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
The law states ANY document needs to be recorded. Additionally, after that phone conference that was referenced in the response, Canyon State Servicing was notified by myself and [redacted] that their unusual methods were not going to be accepted by the [redacted] Corporation because there was no guarantee that they would release the deed. We had discussed waiving the rescission period that is standard with a FHA loan, thereby putting no risk what-so-ever on [redacted] or Canyon State servicing while funds were being transferred by  the required third party escrow. Additionally, [redacted] has emailed me stating that when I suggested bringing an officer of the law to Canyon State, that it was a threat. Bringing a peace keeping officer to help mediate a situation is not a threat. If Canyon State was doing nothing wrong, why would they concerned about me bringing a police officer on site? [redacted] demanded an apology for this. I have also asked that he not contact me, but my attorney [redacted] will be contacting Canyon State Servicing and he still continues to call. I have a voicemail from him just today. There is still a warranty deed that needs to be filed. Canyon State is not a title company, they are a servicing company. They have no right to hold the warranty deed and are not following Arizona law. There is no liability to the seller since it is a warranty deed and it holds the stipulations to pay [redacted]. My husband and I were mislead by [redacted] and we have an attorney involved. It is not up to Canyon State to try to interpret what they "believe"  is the law as they are not lawyers, they are to just abide by the law. Please file the deed or allow us to file it.
Regards,
[redacted]-[redacted]

In regards to the above referenced complaint response rebuttal, Canyon State Servicing Co.'s position has not altered in any way. We continue to believe that we followed the instructions of our client [redacted]. We are somewhat confused since the complainant refers to [redacted] actions, we have no one at this organization named [redacted]. Certainly no one has made any phone ca lls to the [redacted].

I would like to lay out the chain of events one more time:

9/28/11: [redacted] executed a Warranty Deed, the original of which, according to the terms of the Agreement for Sale, was placed in escrow with Canyon State Servicing, LLC, the account servicing agent for the transaction. Canyon State was instructed that the original deed was to be retained by it until purchasers [redacted] paid off the purchase price and any other amounts due and owing under the Agreement. A copy of the Warranty Deed signed by [redacted] is attached as Exhibit 2.

9/29/11:  The Agreement for Sale was recorded with the [redacted], Recorder # [redacted]. Exhibit: 1.

Sometime prior to August 28, 2014:  Purchasers [redacted] attempted to obtain "refinancing" (?) from lender [redacted]. Although there was no "loan" to refinance, apparent ly purchasers [redacted] either decided, on their own, or were advised, to apply for a "refinance" loan, instead of an original loan. As a result, there was an issue regarding whether purchasers [redacted] were eligible for a refinance loan since, pursuant to the Agreement between the parties, property could not transfer until the balance of the purchase price, accrued interest, and other costs and fees were paid.

9/01/14: The [redacted] failed to make their September payment. As of this date, they still have not made that payment. Their next payment is due October 1, 2014.

9/03/14:  [redacted] filed a Consumer Complaint with the [redacted] against [redacted] and Canyon State.

 

9/05/14: [redacted] filed a Consumer Complaint with the Revdex.com against Canyon State defaming it and [redacted] mirroring the same complaint she filed with the [redacted] office. Exhibit 5 attached.

9/10/14: Canyon State Servicing responded to [redacted] Revdex.com Complaint. See Exhibit 6 attached.

9/18/14: [redacted]'s corporate counsel, [redacted],.._sent a letter to the [redacted] regarding his take on the situation, even though he was in no way involved in the transaction or the 8/28/14 conference call. He also incorrectly refers to [redacted] as the Lender, instead of the Seller. [redacted] loaned the [redacted] nothing in this transaction.  See Exhibit 7 attached.

9/30/14: Revdex.com sent [redacted] (Canyon State Servicing Co) an email rebuttal to the compliant response dated 9/10/14. Per: ( Exhibit 8)

First of all, the Agreement for Sale is a valid contract fully..enforceable under Arizona law. A.R.S. § [redacted].  Under an Agreement for Sale, the seller transfers the "equitable" title and possession to the buyer but retains "legal" title pending full payment of the purchase price by the buyer. Section [redacted] defines an Agreement for Sale as:

"...any ...contract through which a seller has conveyed to a purchaser equitable title in property and under which the seller is obligated to convey to the purchaser the remainder of the seller's title in the property, whether legal or equitable, ON PAYMENT IN FULL OF ALL MONIES DUE UNDER THE CONTRACT." (emphasis added).

In her Complaint, [redacted] refers to A.R.S. § [redacted] which says that any document evidencing the sale or other transfer of real estate shall be recorded within 60 days of the transfer.  However, Ms. [redacted] misinterprets that section if she claims that it requires that the document to be recorded must be the Warranty Deed.  lo fact, the word "Deed" is not even mentioned in this statute.

Section [redacted] says in pertinent part:

"Any document evidencing the sale, or other transfer of real estate or any legal or equitable interest therein, excluding leases, shall be recorded by the transferor in the County in which the property is located and within sixty days of the transfer."

The "document evidencing the sale" and transfer of the "equitable interest" of the real estate is the Agreement for Sale which WAS recorded on September 29, [redacted], the same date that the escrow closed. Ms. [redacted] is under the mistaken impression that a Warranty Deed should have been recorded at that time. However, when a property is purchased under an Agreement for Sale, only the Agreement is recorded.  See 7 of the Agreement (Exhibit 1).

 

The problem here appears to be the path taken by the [redacted] to obtain financing and the advice given them by [redacted]. Admittedly, their credit is poor. Further, there have been payment problems with them in the past and they are currently in arrears in their payments right now. Contrary to what Ms. [redacted] claims, asserting one's contractual and statutory rights is not a scam. Also, [redacted] would dearly love to complete the transaction and get paid. The question the [redacted] should have been asking [redacted] is whether there were other types of financing available to cover their particular situation, perhaps similar to an original purchase loan.

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

The law states ANY document needs to be recorded. Additionally, after that phone conference that was referenced in the response, Canyon State Servicing was notified by myself and [redacted] that their unusual methods were not going to be accepted by the [redacted] Corporation because there was no guarantee that they would release the deed. We had discussed waiving the rescission period that is standard with a FHA loan, thereby putting no risk what-so-ever on [redacted] or Canyon State servicing while funds were being transferred by  the required third party escrow. Additionally, [redacted] has emailed me stating that when I suggested bringing an officer of the law to Canyon State, that it was a threat. Bringing a peace keeping officer to help mediate a situation is not a threat. If Canyon State was doing nothing wrong, why would they concerned about me bringing a police officer on site? [redacted] demanded an apology for this. I have also asked that he not contact me, but my attorney [redacted] will be contacting Canyon State Servicing and he still continues to call. I have a voicemail from him just today. There is still a warranty deed that needs to be filed. Canyon State is not a title company, they are a servicing company. They have no right to hold the warranty deed and are not following Arizona law. There is no liability to the seller since it is a warranty deed and it holds the stipulations to pay [redacted]. My husband and I were mislead by [redacted] and we have an attorney involved. It is not up to Canyon State to try to interpret what they "believe"  is the law as they are not lawyers, they are to just abide by the law. Please file the deed or allow us to file it.

Regards,

[redacted]

In regards to the above referenced complaint, Mr. and Mrs. [redacted] purchased their property from [redacted] under an Agreement for Sale. The Arizona Revised  Statues [redacted] I that Mrs. [redacted] refers to in her complaint states that any document evidencing the sale or other...

transfer of real estate shall be recorded within sixty days of the transfer. Enclosed is a copy of the [redacted] recorded Agreement for Sale, which was recorded on September 29. [redacted], the same date that the escrow closed. She is under the impression that a Warranty Deed should have been recorded at that time. When a property is purchased under an Agreement for Sale, only the Agreement is recorded. Please refer to Paragraph 7 of this Agreement which states: "Seller will deliver to the Account Servicing Agent a deed conveying the Property to Purchaser when Purchaser has fulfilled all of the Purchaser's obligations to Seller under tile terms of this Agreement for Sale." We are holding in safekeeping the original fully executed Warranty Deed from [redacted] to [redacted] and [redacted]. husband and wife. The Warranty Deed will not be recorded until the balance owed under the Agreement for Sale is paid in full.

Mr. and Mrs. [redacted] have initiated the process of refinancing this property and paying off the loan referenced above. On August 21st, 2014, a conference call was held between Mr. and Mrs. [redacted], Managing Member of Canyon State Servicing, [redacted], Canyon State Servicing Assistant Manager, the loan officer from [redacted], the Escrow Officer from LDEscrow and [redacted], of [redacted] , LLC (seller). During this conference call, the [redacted] 's were advised that the Warranty Deed will not be released to the lender or title company until the payoff funds for this loan are received. The new lender agreed to accept a copy of the Warranty Deed with the original to follow once Canyon State Servicing receives payment in full on this account. The copy of the Warranty Deed was provided to them on August 28, 2014. The new lender has provided our company with a [redacted] label to be used to overnight the Warranty Deed to them once the account is paid in full.The last payoff statement issued to [redacted] was on August 28, 2014. This payoff was calculated through  September 23, 2014 at the request of [redacted]. As of this date, Canyon State Servicing has not received payoff funds and has not received a request for an updated payoff  statement.

In summary, there is no scam taking place with this transaction. Canyon State Servicing is not holding the Warranty Deed hostage as Mrs. [redacted] states. The release of the Warranty Deed is no longer an issue and is not holding up the closing of her loan. Canyon State Servicing is following the terms and condition s of the Agreement for Sale that the [redacted] signed at the time they purchased their home.

Please feel free to contact me with any questions.