GMAC Mortgage Corporation

Review: Friday, November 1, 2013

This letter is a formal complaint that GMAC has failed to remove an unverified account from my credit report after they did not complete investigation into the item I disputed. The Fair Credit Reporting Act requires that a data furnisher investigate in 30 days any account that is officially disputed by a consumer. This data furnisher has failed to comply with FCRA regulations by refusing to remove the disputed item from my credit report for their failure to respond to my requests for documentation.

I have already provide this data furnisher several opportunities to comply with my requests but they continue to ignore my requests and don't respond to my letters. They continue to willfully violate the FCRA as they are receiving my requests, yet they do not respond. This must stop!

I have included copies of all the communication I have mailed this data furnisher with continued no response. Please take the time to review my requests. You will see that all of my requests have been made pursuant to the FCRA and I have provided more than the legally required time to complete.

I need your company to enforce the regulations of the Fair Credit Reporting Act and require this company to remove this account from my credit report. Enforce these regulations and show,their offices that the FCRA does mean something and that they cannot continue to operate only in the interest of money and without penalty.

Credit reports and those credit scores derived from these reports are paramount to life as an American citizen. Anything and everything that we do is related around my credit report and credit score. This is a serious request to investigate this company and the policies and procedures they use to report accounts on a consumers credit report as there is obviously suspect practices in place.

The credit bureaus must be held liable for their willful violations of the Fair Credit Reporting Act They cannot be continued to operate with such illegal and unethical practices. Your offices must step in and uphold the laws of the FCRA and demand the immediate removal of this account from my credit report.

What good do the rules, regulations and punishments of the Fair Credit Reporting Act do if they are not enforced? I have exhausted my patient and now need your assistance as I have no other options.

Kind Regards,Desired Settlement: Unspecified

Business

Response:

**. [redacted]:

Attached, is Ocwen’s response to the concerns.

Thank you.

November 8, 2013

**. [redacted]

Revdex.com of Metro Washington DC and Eastern Pennsylvania

1411 K St. NW 10th Floor Washington DC 20005-3404

Submitted electronically via the Revdex.com Portal

OCWEN

RE: Account Number [redacted]

Complaint Number [redacted]

Borrower [redacted]

Property Address [redacted]

Dear **. [redacted]:

This is in response to your letter dated November 1, 2013, and received by Ocwen Loan Servicing, [redacted] (Ocwen) on November 7, 2013. Specifically, this is in response to **. [redacted]’s concerns regarding the credit reporting and debt dispute for the account referenced above.

As a result of the 2012 Chapter 11 [redacted] bankruptcy filing, a portion of the servicing platform and certain related assets of [redacted]) were sold to Ocwen effective February 16, 2013. As part of that sale, Ocwen acquired the records for this account; therefore, Ocwen’s response is based upon the available account records acquired from [redacted].

Records indicate Ocwen received substantially similar correspondence from **. [redacted] on April 22, June 7, and July 19, 2013. On behalf of [redacted], Ocwen issued a response to **. [redacted]’s mailing address that he provided in his written correspondence, on May 1 and August 1, 2013. Copies of these responses are enclosed for your reference.

We believe this information to be responsive to you and **. [redacted]’s inquiries. If you or **. [redacted] have any specific questions or concerns regarding this account, please contact me at ###-###-####, option 2, extension [redacted].

Sincerely,

[redacted] Executive Account Manager

Review: Refuses to issue verification of 2007/2008 foreclosure

For the past three years, consumer has been trying to attain a copy of the contract of a California property that was foreclosed back in 2007/2008. Consumer needed this information for the National Foreclosure Settlement. GMAC refuses to respond to my recent written requests for retrieval of purged documents; however, GMAC did verify this information via phone two years ago and consumer was deemed to be a valid claimant of the settlement.Desired Settlement: GMAC to produce a copy of the documents showing what year property was foreclosed.

Business

Response:

July 8, 2014Dear [redacted]:On behalf of Ocwen Loan Servicing, LLC (Ocwen), the Office of the Consumer Ombudsman would like to thank you for your correspondence dated July 1, 2014, and received by Ocwen on July 8, 2014, regarding the concern directed to your office by **. [redacted]. The Consumer Ombudsman’s office was created to provide a resource to assist with unresolved concerns and issues.As a result of the 2012 Chapter 11 Residential Capital, LLC bankruptcy filing, a portion of the servicing platform, and certain related assets of GMAC Mortgage, LLC (GMACM) were sold to Ocwen effective February 16, 2013. Ocwen1 s response is based upon the available account records acquired from GMACM, as well as account records maintained by OcwenOcwen has searched our servicing system based on the information provided. However, we are unable to locate an account for this borrower or the address provided. Please provide us with the loan number, property address or the full names of all borrowers to help us assist you further.The Office of the Consumer Ombudsman is your advocate to ensuring that Ocwen's servicing remains fair, reasonable, and proper. Should you have any further concerns relating to this response, you may contact me at ###-###-####, option 2, extension [redacted],Sincerely,

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: [redacted]

I am rejecting this response because: this company is inept. What happened to the official request letter stating the name on the account and the address? Again, accountholder: [redacted]; address: [redacted]. Get it together. I have been trying for two years to receive the foreclosure documents. Please note, I had two accounts with GMAC and your information has been taken from the first account.

Regards,

Business

Response:

July 18, 2014 Dear [redacted]:On behalf of Ocwen Loan Servicing, LLC (Ocwen), the Office of the Consumer Ombudsman would like to thank you for your correspondence received on July 10,2014. This is pertaining to [redacted]’s concerns with the above-referenced accounts. The Consumer Ombudsman’s office was created to provide a resource to assist with unresolved concerns and issues.As a result of the 2012 Chapter 11 Residential Capital, LLC bankruptcy filing, a portion of the servicing platform and certain related assets of GMAC Mortgage, LLC (GMACM) were sold to Ocwen effective February 16, 2013. As part of that sale, Ocwen acquired the records for this account.Ocwen’s response is based upon the available account records acquired from GMACM, as Ocwen has never serviced this loan.Records indicate Ocwen received substantially similar correspondence from [redacted] on May 2, 2013, through the Consumer Financial Protection Bureau (CFPB). On behalf of GMACM, Ocwen issued a response to [redacted]’s mailing address that she provided in her written correspondence, on May 9, 2013. A copy of the response is enclosed along with a copy of the notice of foreclosure sale for the property referenced above. We believe this information to be responsive to you and [redacted]’s inquiries.The Office of the Consumer Ombudsman is here to help ensure that Ocwen’s servicing remains fair, reasonable, and proper. Should you or [redacted] have any further concerns relating to this response, you may contact me at ###-###-####, option 2, extension [redacted].Sincerely,

Review: I had a loan with Ditech in 2004 or 2005 and the house was sold and they were paid in full. They are still reporting the loan incorrectly on my credit report. I have contacted them numerous times, faxed them supporting documents, and had the credit bureau contact them. It has still not been resolved. The amount of the loan was even being reported as zero dollars. They also claim that the loan was included in my bankruptcy in 2009. The loan is not in my bankruptcy papers. The loan was paid off in September of 2005 when I sold the home. There were 2 loans on the home from Ditech and it was the second mortgage that was not cleaned up correctly on my credit report.

The house address is [redacted]Desired Settlement: I want them to stop reporting the loan as unpaid and included in my bankruptcy. I want them to adjust my credit report to show that the loan was paid in full in September of 2005.

Business

Response:

October 18, 2013

Dear **. [redacted]:

This letter is in response to your correspondence received by Ocwen Loan Servicing, LLC (Ocwen) on October 9, 2013, regarding concerns **. [redacted] directed to your office. Specifically, this is regarding **. [redacted]’s concerns surround the credit reporting on the above-mentioned account numbers.

As a result of the 2012 Chapter 11 Residential Capital, LLC bankruptcy filing, a portion of the servicing platform and certain related assets of GMAC Mortgage, LLC (GMACM) were sold to Ocwen effective February 16, 2013. As part of that sale, Ocwen acquired the servicing and records for this account. Ocwen’s response is therefore based upon the available account records acquired from GMACM as well as account records maintained by Ocwen.

According to available account records, **. [redacted]’s primary mortgage, account number [redacted], originated on March 6, 2004, and was paid in full as of October 4, 2005 and was reported as such to the credit bureaus.

**. [redacted]’s other account, account number [redacted], was a second mortgage known as a Home Equity Line of Credit (HELOC). The HELOC originated on August 2, 2004, and was brought to a zero balance on October 4, 2005. The HELOC remained open with a zero balance, except for the annual maintenance fee, until it was closed on December 12, 2008. It is important to understand, that HELOCs by nature are a revolving credit, much like a credit card, and simply because it has a zero balance does not mean the account is closed. A written request must be submitted by the borrower requesting the HELOC to be closed.

Additionally, the available account records reflect that **. [redacted] filed for Chapter 13 Bankruptcy on November 20, 2008. Please note, that whether or not a borrower specifically includes or excludes a certain debt, the automatic stay of protection will be applied to every active debt/open account tied to the borrower’s social security number. Therefore, as the HELOC was still active at the time **. [redacted] filled for Chapter 13 Bankruptcy, the account would need to be reported as such to the credit bureaus.

I have confirmed an updated Automated Universal Data (AUD) report (credit report) was sent to the four main credit bureaus (Equifax, Trans Union, Experian and Innovis) to correct the previous AUD. The previous AUD reports **. [redacted] filed for Chapter 7 Bankruptcy, and the corrected AUD with the correct information will report: A Chapter 13 Bankruptcy was filed on November 2,2008.

If you have any further questions, please contact me at ###-###-####, option 2, extension [redacted].

Sincerely,

Review: gmac has filed that we have done a home modification with them but refusses to provide documents of proof! We need them removed from our credit so we can move forward with other paperwork. we have placed several calls resulting in a weeks wait twice with the delivery of the a payoff statement NOT the complete modification agreement documents we asked for or we recieved nothing after a promise of delivery! They keep giving us the run around on documents that should be openly availble to me if a modification really happened. As of 2/27/13 we placed 10 phone calls being put on hold for 30 plus minitues and hung up on six minitues. We have phone records and personal recorded video of our experiance with this company.Desired Settlement: we want Gmac to remove the fraudulant remodification noted on our credit report ([redacted], etc) or provide a complete copy of the modification agreement

Business

Response:

Attached is the response.

Review: To [redacted] or To Whom it May Concern:

Yet again you all have denied me for a loan modification and have made me loose my eligibility with Keep Your Home CA for the $100,000, which you all could have used to bring my account current (at the very least). These funds come from the state. These funds do not come OUT of Ocwen or its investors. Why do you deny these funds? I have no idea. This program puts me financially on the hook for that funded amount. At the moment I have NO financial obligation to the home because of my bankruptcy in 2011. This program is a legal way of me reaffirming my debt on the home. So why Ocwen would deny these funds really busts my brain wide open. I hope that you as an executive are utilizing the Keep Your Home CA (KYHCA) website to review the conditions of each program. The criteria uses the word "may", which means can be, possibly etc. The word "may" does not mean you have to use the funds in this way or that. Again I have stated you can use the funds to reduce the delinquency on the loan. At the very least the delinquency on the loan needs to be reduced. Perhaps at a later time Ocwen can then review the account for HAMP. Why can't you just take the money and reduce the delinquency if you can't do a modification?

Either way Ocwen does not have anything to loose. I have reviewed my account with my lawyer and my lawyer is also unable to find any legislation that states the KYHCA funding cannot be used for an FHA loan or to reduce the principle etc. I have repeatedly asked you to send me your guidelines or some physical legal document that states this funding cannot be used toward a loan modification. If this is correct then that would mean KYHCA is wrong to suggest such a plan to you and this error needs to be corrected on their website. Otherwise, as my lawyer is suggesting, Ocwen is making up their own rules and profiting by keeping me delinquent on my account until they can find such a time that is convenient to sale the home. This is in violation of the fair housing, Making Home Affordable, HUD and department of justice guidelines.

I have submitted yet another loan modification package today 10/06/2/2013. If this packet gets denied, I am DEAD SERIOUS, Ocwen will be sued. You need to provide me with the information I am requesting. I need a FULL LEGAL copy of your modification guidelines for traditional loan modifications and for HAMP modifications that emphasize why the KYHCA funds cannot be used with these types of modifications to help me stay in my home and keep me out of your foreclosure department. Again if you deny me AND cannot provide via mail a FULL LEGAL document of Ocwen's loan modification guidelines for traditional loan modifications and for HAMP, YOU, OCWEN WILL BE SUED!

I am tired of calling your lower staff of low intelligence and arguing with them. The last call on Thursday, October 3 with one of your supervisors and your call center agent was so aggravating that I had a migraine the entire day. The supervisor I spoke with needs to be fired. She was explaining why my expenses were calculated in the method they were calculated and she absolutely confused me. When I went home and reviewed the numbers I managed to get out of her I finally realized she had NO clue what she was talking about. She also refused to pull up my loan modification request and research my account before speaking and while speaking to me. She was supposed to create a workflow to get the guidelines for your modification sent to me but she was so busy trying to tell me things I already knew about my situation that I do not believe she even opened it up. We got disconnected and she didn't even bother to call me back. That lady needs to be fired. I am a distressed homeowner and I did NOT appreciate her attitude. I felt so bad I thought I was going to die after speaking with her. So I am going to start suing you guys because I can't let your incompetence kill me or put me on the street.Desired Settlement: Modify my loan under the traditional or HAMP modification options using the funds of $25,000 - $100,000 from KYHCA.

You can read more about these progra** and how they work online: http://keepyourhomecalifornia.org/progra**/

Review the account for ADDITIONAL modification options to include the principle reduction alternative program.

You can find this online: http://www.irs.gov/uac/Principal-Reduction-Alternative-Under-the-Home-Affordable...⇄ />
If the loan cannot be modified, use the funds of $25;000 - $100,000 to reduce the delinquency on the loan so that a loan modification option can be possible at a later time. AND send a FULL LEGAL DOCUMENT of Ocwen's modification guidelines for a traditional loan modification and for HAMP.

OTHERWISE I AM SUING OCWEN. YOU ALL ARE VIOLATING MY HOME OWNER RIGHTS.

Business

Response:

October 18, 2013

Dear [redacted]:

This is in response to your letter dated and received in our office on October 7, 2013, regarding the concerns filed by **. [redacted].

As stated in previous correspondence, dated September 13, 2013, to your office (under case number [redacted]), Ocwen placed the review request for a recast from Keep Your Home California (KYHC) on hold per **. [redacted]’s request until Ocwen received additional information was received from her attorney. Ocwen works closely with KYHC on a daily basis and is well versed in the KYHC policies and procedures.

Ocwen received partial financial analysis packages from [redacted] on September 13, September 18 and September 19, 2013. As the KYHC process was on hold awaiting further correspondence from **. [redacted]’s attorney per her request, the account was reviewed for a loan modification under the FHA Home Affordable Modification Program (FHA-HAMP) and non FHA-HAMP (traditional) loan modification progra** without the KYHC information.

Ocwen was unable to approve a loan modification under traditional loan modification or FHA-HAMP progra** based on a review of those progra** without KYHC program assistance. A letter was mailed on October 7, 2013, to advise of the denial.

Ocwen was required to respond to KYHC request for a recast on the account to remain in compliance with agreed upon turn around times with KYHC. As Ocwen had not received additional correspondence from **. [redacted]’s attorney, Ocwen responded on October 3, 2013, denying the request for a recast on the account. Due to the loan type and Ocwen’s policy, a recast is not allowed on this account. It is also Ocwen’s policy that any program administered by KYHC is not included in connection with the FHA-HAMP program. Investor and Ocwen policies and procedures are considered proprietary and confidential and are not provided to our borrowers.

After the denial was sent to KYHC regarding the recast program, Ocwen received a request from KYHC on October 8, 2013, to review the account for the Principal Reduction Program (PRP) modification using funds up to $75,000.00 during the review process. Ocwen is in process of reviewing the account for a traditional loan modification in connection to the KYHC program and financial analysis packages received from **. [redacted] on October 7 and October 9, 2013. Once our review is complete, **. [redacted] will be notified of the outcome.

Please convey my apology to **. [redacted] for her experience with an Ocwen representative during a telephone conversation on October 3, 2013. The Ocwen representative noted that **. [redacted] expressed concern that the monthly payment was included in the expenses calculation. This issue had been addressed by me in previous responses to your office. However, Ocwen strives to provide superior customer service and regret that was not **. [redacted]’s experience.

If you have any further questions, please contact me at ###-###-####, option *, extension [redacted] or directly at ###-###-####.

Sincerely,

Executive Account Manager

Notice Regarding Bankruptcy: Please be advised that this letter is in no way an attempt to collect either a pre-petition, post petition or discharged debt. If your bankruptcy case is still active, no action will be taken in willful violation of the Automatic Stay. If you have received an Order of Discharge in a bankruptcy case, any action taken by us is for the sole purpose of protecting our lien interest in the underlying mortgaged property and is not an attempt to recover any amounts from you personally. Finally, if you are in an active Chapter 11, 12 or 13 bankruptcy case and an Order for Relief from the Automatic Stay has not been issued, you should continue to make payments in accordance with your plan. If your loan has been paid in full or already foreclosed upon, this is not an attempt to collect any additional funds from you.

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: [redacted]

This is not necessarily a rejection to the response submitted by **. [redacted]. I would like for this case to remain open until the modification is complete, since there has been so many communication proble** and errors throughout my entire 2-year struggle for a loan modification with GMAC/Ocwen using funds from Keep Your Home CA. Even today, [redacted] from Ocwen called me stating that I was denied a modification and that they will not be able to modify my loan whatsoever. However, I also received a call today from the state and an email stating that Ocwen WILL modify my loan contingent on the funds utilized from Keep Your Home CA. My processor from Keep Your Home CA stated she will re-submit the financials to Ocwen so that Ocwen can begin the process of modifying my loan.

Review: Ocwen unjustifiably denys me several opportunities for an FHA HAMP modification. I need my FHA loan to be modified under FHA HAMP. I DO NOT understand how Ocwen cannot make an affordable payment under FHA HAMP. My affordability under FHA HAMP caps at $934.00 (princle, interest, tax, PMI and etc.). I was able to come up with an affordability solution: Homeowner Gross Income: $2,335.00 Principle Balance: $138,785.00 Past Due: $60,000.00 (estimated) House Value: $147,000.00 [redacted] Mortgage Reinstatement Assistance (MRAP): $25,000.00 Mortgage Amount (less [redacted] MRAP): $173,785.00 Property Tax: 1.66% Interest Rate: 3.00% Amortization Period: 40 years PMI: .55% New Payment: $905.12 OR New Payment: $925.34 30-year fixed, 2.0 interest. How is it that I cannot afford $905.12 or $925.34 on a gross income of $2,335.00 and a debt of less than $1,000.00? In July 2013, I reviewed similar numbers with representatives from Ocwen and they were unable to answer this question. I also reviewed these figures with a representative from Non-Profit Alliance of Consumer Advocates (NACA) and it was decided that Ocwen isn't providing me with a 40-year amortization to make an FHA HAMP modification possible. Why is Ocwen not providing me with a 40-year amortization so I can stay in my home? Is it right that Ocwen caused me to loose $75,000.00? I received a conditional approval from [redacted] for $75,000.00 toward a permanent loan modification in January 2013. Ocwen stated they could not use the money to help me. I could have had a mortgage payment of $703.22 40-year fixed 3.0 interest or a $781.97 30-year fixed 3.0 interest. WHY AM I STILL IN FORECLOSURE? [redacted])Desired Settlement: I am living proof that Ocwen does NOT "help the homeowner" as advertised on their website. Furthermore, how can they help anyone when they can't even do simple math and utilize critical thinking skills taught in 1st grade? I need both the assistance from [redacted] AND the FHA HAMP modification from Ocwen to stay in my home. This is NOT an illegal request. What is the problem here? Because of Ocwen, each time I apply they cause me to loose time and money needed to save my home and pull me out of foreclosure. Now I will have to re-apply for the state assistance and then re-apply for a permanent modification through Ocwen. This takes about 3-4 months. It could be denied AGAIN. I do not have time or money to waste. My home is scheduled to be transferred out of my name by September 2013. No one on the streets is a productive citizen to society.

Business

Response:

July 16,2013

Dear [redacted]:

This is in response to your letter dated and received in our office July 14, 2013, regarding the complaint filed on the above-referenced account.

As a result of the 2012 Chapter 11 Residential Capital, LLC bankruptcy filing, a portion of the servicing platform and certain related assets of GMAC Mortgage, LLC (GMACM) were sold to Ocwen effective February 16, 2013. As part of that sale, Ocwen acquired the servicing and records for this account. Ocwen’s response is therefore based upon the available account records acquired from GMACM as well as account records maintained by Ocwen.

**. [redacted] has previously filed similar concerns with the State of California Department of Corporations, the Consumer Financial Protection Bureau (CFPB), the Revdex.com Serving Metropolitan New York, Inc. (Revdex.com Identification Number [redacted]) and your office under Revdex.com Identification Number [redacted]. Responses sent to **. [redacted] and the above-referenced agencies, including your office, are enclosed for your records.

If you have any further questions, please contact me at ###-###-#### or directly at ###-###-####.

Sincerely,

Consumer

Response:

I am rejecting this response because:

I am requesting that my financial analysis paperwork be re-reviewed. My income is 1360+975 rental. That equals 2335.00. As I stated before, I can afford 900 mortgage payment and Ocwen can make that happen by extending the terms to 40 years at 3%. For some reason you are not doing that. It is also apparent you all are purposely using incorrect figures so I can be rejected. My expenses total over 2000.00 BECAUSE the 1600.51 was included. That 1600.51 was the amount that should have been excluded when Ocwen was trying to make a modification because that is the amount I cannot afford. Review my paperwork and you will see that my revolving expenses aren't even 1500.00 when you take away the 1600.51. Am I not filing out the paperwork correctly?

Regards,

Business

Response:

July 26, 2013

Dear [redacted]:

This is in response to your letter dated and received in our office July 18, 2013, regarding the follow-up issue filed on the above-referenced account.

As Ocwen Loan Servicing, LLC (Ocwen) has previously advised, the account was reviewed for a permanent loan modification under guidelines set by the United States Department of Housing and Urban Development (HUD). These guidelines are published by HUD in multiple Mortgagee Letters, such as 2013-03 (dated January 31, 2013), 2012-22 (dated November 16, 2012) and 2009-23 (dated July 30, 2009). While we understand **. [redacted]’s frustration with the previous loan modification denials, Ocwen is required to follow these guidelines and cannot alter or negotiate the guidelines.

If there has been a change in the income since the July 5, 2013 loan modification review, and **. [redacted] wishes the account be reviewed again for a loan modification, an updated and complete package must be received. A financial analysis package will be mailed to the address of record, it is also available on our website at Ocwen.mortgagebanksite.com.

When Ocwen is unable to offer loan modification assistance at this time, we encourage our customers to consider alternate options, such as listing the property for sale (or a possible short sale). If the sale of the property would not procure a full payoff of the loan, the account may be considered for a possible short sale. **. [redacted] may contact her Ocwen Relationship Manager, [redacted] at ###-###-####, option *, extension [redacted], with any questions regarding the loan modification review process or for information about the possibility of a short sale and the short sale process.

If **. [redacted] has not already done so, she may also wish to seek guidance from a HUD-approved financial counselor. A HUD-approved financial counselor may be located at ###-###-####. **. [redacted] may also with to speak with a HUD-approved housing counselor who may be able to provide her with additional resources and options. She can reach a HUD-approved housing counselor at 888-995-HOPE.

If you or **. [redacted] have any further questions, please contact me at ###-###-####, option *, extension [redacted] or directly at ###-###-####.

Sincerely,

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: [redacted]

I am rejecting this response because:

I am requesting for Ocwen to NOT respond to [redacted]) until you have spoken/received additional correspondence from my attorney. [redacted] gives servicers (OCWEN) up to 90 days to prepare a response (to approve or deny the acceptance for the state assistance). You do NOT need to respond to [redacted] until you receive information from my attorney to help you all to prepare a loan modification using [redacted]'s principle reduction program OR unless you approve the funding to be used. Keep in mind if you choose NOT to listen and deny me before my attorney sends additional information, I am going to sue Ocwen because you all have made multiple infractions against my rights as a homeowner. First of all, it is illegal to give someone an FHA ARM LOAN. My loan was set up for failure from the start of the contract. And you guys at Ocwen know it. There are many more infractions that I will more than happily present to a judge. I am trying to work out something with you all so that I can get out of foreclosure and get you the money that you are wanting to rectify the account to avoid further issues. I do NOT want to loose the PRP (Principle Reduction Program) assistance again. You are incorrect about not being able to reduce my principle balance. I have repeatedly asked you to provide me with the excerpt from HUD that states the principle balance cannot be reduced on the loan.

Here is an excerpt from HUD/Making Home Affordable proving you CAN reduce the principle balance on an FHA loan:

Principal Reduction Alternative (PRA)

Review: The servicing o my GMAC home loan, account #[redacted] was transferred to [redacted] effective with my first payment due 3/1/13 (which I paid). When I researched [redacted] I discovered they were non Revdex.com accredited because:

-1691 complaints filed against business.

-Failure to respond to 958 complaints filed against business.

-122 complaints filed against business that were not resolved.

-Overall complaint history with Revdex.com.

-Business has failed to resolve underlying cause(s) of a pattern of complaints.

I find it unacceptable to transfer anyone’s loan servicing to an unethical company. I called the GMAC Transfer Hotline" on 3/1/13 ([redacted]) wishing to discuss the transfer, complain about GMAC’s selection of the [redacted] , and was transferred to, guess who - [redacted] (and I hung up).Desired Settlement: 1. Transfer my loan from [redacted] to a company that is honorable.

2. Handle complaints on your "Transfer Hotline" yourself, do not sen callers to a non-GMAC number.

3. Change your business practice to NOT use transfer loans to dishonorable companies.

Review: GMAC Mortgage never send it to me bill nothing. also We never far behind to pay make payment.We had no problem make payment for the mortgage for 3 year 6 months. GMAC mortgage called me about foreclosure my mobile home with land so innocent and were damage my credit score made me angry so decide going back to GMAC mortgage complaint. Because GMAC fake foreclosure my mobile home with land about $810.00 a month and never far behind to pay nothing wrong.We know GMAC Mortgage know We are deaf. My brother helped me tried called GMAC Mortgage ignore him about 8 hours. GMAC mortgage wouldn't avoid foreclosure it. We got angry to forget it drop.But We won't going to the lawyer.Desired Settlement: GMAC Mortgage were damage my credit score going down and my wife had bad credit.My wife doing very good to pay anything and owed another them.I don't like GMAC Mortgage fake foreclosure my home nothing wrong and had no problem.So We got angry blow up to so decide plan going back hurt GMAC Mortgage complaint on Revdex.com.Also We never trust GMAC Mortgage that very enough and not truth.

Business

Response:

Response attached

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.

Regards,

Review: We have been trying to purchase a short sale home for over two months now and the GMAC Short Sale/Loss Mitigation Department is the reason for the hold upGMAC's process started on December 21st and the short sale approvals had to go through two departments each approval should take to business days Well it is now weeks (and business days) later and still no approvals[redacted] of GMAC has not been responsiveSupposedly, the first approval was done 1/30/2013, but then another weeks go by with no communication from [redacted] and then we find out that she sent the paperwork to the wrong departmentIt looks like that was done around 2/(weeks after the 1/approval why so long to forward?) This held us up yet another weekNow THAT department is having "computer" issues! The seller's broker had informed [redacted] that this was an urgent case, because we (the buyers) were paying $a week is furniture storageThere has been a lack of urgency from the get-goWe just want the approvals made TOP PRIORITY!! It shouldn't take this long to get the paperwork through.Desired Settlement: DesiredSettlementID: Refund
We feel we should be refunded $for every week that this process is held up due to lack of service from [redacted]If the process was handled correctly, we should have received all approvals within a month or by Janaury 18th (two weeks for each department)At the present, we are up to $1,000.00, weeks (1/through 2/22) at $eachOf course, we feel we should be refunded for any additional weeks it takesThank you for your attention
Business
Response:
Please see attached

Review: GMAC sold my home loan. I later learned that they sent me to collections for $1400 after my home loan was bought by another agency. I have attempted to contact them in regards to this and disputed it thru credit services and it is still on my credit report.Desired Settlement: I would like the collections removed from my account

Business

Response:

Dear [redacted]:

Review: I refinanced my house with [redacted]. When [redacted] asked GMAC for my pay off amount on Jan. 1 2013 and asking them + the perdium amount for me too have my closing on Jan.4 2013 .GMAC would not release that information to [redacted] or too myself. Because I was under a bankrupsy but the house was not included in that. GMAC did not release that information to [redacted] until Jan. 29th. Then adding intrest on to my loan for the whole month. Then GMAC was paid in full on Feb. 1 2013. But I still had money in escrow that was owed to me. I was told by GMAC that they could not send me the escrow money until Feb. 15th. I have still not recieved the check for that. I have called them several times and I get a different story every time. On the 20th. I was told the check was mailed on the 15th. and that person said they were not alowed to tell me how much it was for. Then on the 21st. the person I talked to said they appoligise for who said it went out on the 15th. but it went out on the 16th. also said the check was for 785.84 . Then I called again on the 22nd. and was told I have to alow 7 to 10 business day's for the mail. Now being March 1st. still no check. So I called today and was told that there were 2 checks not just 1 and that the 2nd. one was for 11.87 and that they went in the mail on the 12th. So I spoke with a [redacted] at [redacted] option [redacted] . I said I feel that I should get intrest on my money that they are holding from me as they got intrest from me for not releasing my pay off for the whole month of Jan. So [redacted] said she would talk to someone and get them checks canceled and overnight me by way of FEDEX tomorrow. And that she would call me back today and let me know what was going too happen. That was at 8:17 am this morning , and I havent heard a word. I am very in need of this money that is mine that they will not give. I am hoping that you can help me in doing this . It is very bad business. Please help me ! [redacted]Desired Settlement: To recieve my escrow money . And to stop there bad business practices.

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.

Regards,

I finaly recived the check's by Fedex on 3/8/13. Fedex said I would of gotten the check's on the 7th. but my address was wrong. They had my address as [redacted] and too [redacted] . You would think the address would be right since the mortage was through them and also my name is [redacted] not [redacted]. My address is [redacted] How ever I have received my check's and am happy to be done with GMAC.

Review: I had filed bankruptcy seven years ago not towards this company. I called the mortgage company asking why I hadn't received a statement to pay my bill. I was told by [redacted] I would no longer be getting any statements because I was discharged from the bankruptcy. How am I going to know if they received my payment about my home mortgage insurance or escrow or my last statement to say that my account is X amount of dollars?

I asked for someone who could speak better English and she said maybe she should talk a little slower. I still couldn't understand her. I asked to speak to the legal department and was told they do not have one.Desired Settlement: I want a paper trail showing proof that I have made my payments. I want to receive a statement showing where my account stands every time I make a payment.

Business

Response:

Attached, is Ocwen’s response to the concerns of **. [redacted].

September 13, 2013

Dear **. [redacted]:

This is in response to your letter dated and received by Ocwen Loan Servicing, LLC (Ocwen) on September 3, 2013. Specifically, this is in response to **. [redacted]’s request to receive a monthly account statement for the above referenced account.

As a courtesy, Ocwen previously issued monthly account statements to **. [redacted], providing her with account and payment information. However, effective August 1, 2013, in accordance with the established bankruptcy laws, customers who were discharged from a Chapter 7 Bankruptcy, and did not reaffirm the debt, would no longer receive monthly account statements.

Customers who do not reaffirm the debt prior to a Chapter 7 Bankruptcy discharge are no longer held liable for the debt; therefore, Ocwen is unable to collect on that debt. As a monthly account statement contains payment information that can be perceived as an attempt to collect upon a debt, Ocwen made the decision to no longer issue account statements to these customers.

Ocwen will continue to monitor the process in accordance to the bankruptcy guidelines, and if any changes occur in the future, **. [redacted] will be notified directly by Ocwen.

**. [redacted] may voluntarily make payments in accordance with the guidelines of the prior bankruptcy. If she would like to view account specific information regarding payments or if she would like to locate the payment mailing address, this information can be located on our website, www.ocwencustomers.com.

I trust this letter is responsive to **. [redacted]’s request. If you have any further questions, please contact me at ###-###-####, option *, extension [redacted].

Sincerely,

Review: GMAC Mortgage agreed to accept a deed in Liu of foreclosure on May 30, 2012. I have the documents that they sent me showing this. My credit report also shows that GMAC Mortgage is reporting a zero balance on the loan as of August of 2012. I signed legal documents giving them the deed to the property and agreed to take the property back. The [redacted] County recorders office show's that they took back the property on their website. In addition, I received a 1099 recently from [redacted], the original investor who GMAC Mortgage was servicing the loan from, showing that they had taken the property back and how much taxable imputed income I have from the loan forgiveness. Throughout this process I was in contact with GMAC Mortgage by telephone also. Several representatives at GMAC Mortgage have confirmed that the debt was satisfied in full as of May 30, 2012. Yet, in spite of this they sent my mortgage to an outside collection agency on Feb. 2013 called [redacted] stating that I still owed the entire amount of the mortgage. [redacted] has now sent me two collection letters. I called GMAC Mortgage and complained. I was told that my account was showing as paid in full per a deed in Liu of foreclosure they had accepted and was flagged so no further action would be taken on the account. The said it was sent to [redacted] by mistake. I contacted [redacted] and told them this and they told me GMAC Mortgage would have to contact them and tell them my account was sent to them in error and correct the error themselves. I then called GMAC Mortgage back and told them this. GMAC mortgage admitted that they had made a mistake, but they refused to correct the error and told me it was my problem, not their problem. They also refused to send me a letter or account statement stating that I had a zero balance or in regards to my account at all. Even though they say I owe nothing and GMAC and [redacted] already took back the property and the 1099 shows the fair market value covered the vast majority of the the outstanding balance on the original mortgage. I asked [redacted] to contact GMAC Mortgage and they refused and are demanding full

Payment on a zero balance account. They are not even giving me credit for the fact that I gave GMAC Mortgage back the property which covered the value of most of the original balance on the outstanding mortgage. All I am asking GMAC Mortgage to do is contact [redacted] and tell them what they keep telling me on the telephone, which is my account has a zero balance as of 2012 and it was sent to [redacted] by mistake. So far they have refused. My GMAC Mortgage Account Number is: [redacted] Thank you.Desired Settlement: All I am asking GMAC Mortgage to do is to contact [redacted] and tell them what they keep telling me on the telephone, which is that my account has a zero balance as of 2012 and that it was sent to [redacted] by mistake. So far they have refused. I would also like GMAC Mortgage to send me a letter or e-mail attachment showing my account balance, which they keep telling me is zero. My GMAC Mortgage Account Number is: [redacted]. Thank you.

Business

Response:

Attached response provides explanation of [redacted].

Review: I do not have an account with them at all and never have and they fraudulently reported me as 90 days delinquent to my credit agencies. When I called to ask them to remove the fraudulent report, they refused and were very rude and dismissed me. I am more than upset and I hope no one EVER uses this company for their mortgage. They are fraudulent, rude and have horrible customer service.Desired Settlement: DesiredSettlementID: Refund

Please have this company remove this fraudulently report from my credit report immediately!

Review: I got notified that they wanted me to pay $70 or else my mortgage payment would be raised. They said it was due to my insurance. I called my insurance and they told me it was not going up. When I got my bill from my insurance today showing they would be billing the mortgage company, it shows it went up $10. I called them and told them they told me it would not go up. Someone authorized it to be paid quarterly, not me. I signed it for yearly. I called my mortgage company and told them and they told me that they would not reopen it. I explained they were taken figures from a company I no longer do business with. They should have taken the money from my last insurance company and instead they went back 2 years which is not correct. This is jacking up my payments and is getting me upset.Desired Settlement: I want that escrow gone back and insurance gone back to what it should be YEARLY which would bring my payments back inline to what I am paying.

Business

Response:

See attached response.

Review: Initiated refinance process 11/27/12. GMAC rep ([redacted]) tells me no appraisal req'd, closing costs can be included in loan, closing can be done in 2-4 wks. I instruct [redacted] to proceed with the process and to include closing costs in loan amount. Several unanswered v/mails & emails. Received call 12/20 from [redacted] informing me he would be my loan processor, he was waiting on clear title and I will "hear something early next week".He now informs me I need to have an appraisal done. I repeat to [redacted] my wish to have closing costs included in loan amount. 2-3 weeks goes by with no contact from [redacted]. I arrange for an appraisal/BPO. 1/16 [redacted] informs me my loan is ready & scheduled my closing for 6:30pm 1/23 and states "I will conact you in the next day or two with the final numbers". 1/21 I have not heard from him & leave voice message. 1/22 I reach him by phone and he now informs me my loan "is not right & is referring it to [redacted] to "get it straightened out".Informs me we cannot close on 1/23. Had I not initiated contact on 1/22, when was he going to tell me we could not close on 1/23? 1/23 [redacted] calls & tells me my appraisal/BPO is "all clear" and will contact me on 1/24 to reschedule closing. I do not hear from [redacted] as promised so I contact [redacted] & ask to speak with his manager. I leave detailed message for mgr ([redacted]). 1/28 [redacted] calls & informs me he will personally handling my loan going forward & I will hear from only him. He never calls again. Several weeks & numerous emails & messages (mostly initiated by myself) I get a call to schedule my closing for 3/6. On 3/3 I email [redacted] to confirm all details. 2 days later I email again asking for confirmation only to get response for another GMAC rep informing me I need to provide $3683 @ closing unless I'm willing to wait another 60 days for GMAC to revise the figures. After 3plus months I'm told I'll have to wait another 60 days to get what I originally requested from 3 different GMAC reps?Desired Settlement: GMAC take initiative to resolve the closing cost miscommunication, reschedule closing at customer convenience (in considerably less than 60 days) & explain how a 'manager level' employee can tell a customer that they will be "personally" handling customer's account going forward, "any calls you receive from this point will be from me" & never call again? All while allowing complete mis-information & totally unacceptable communication practices from his subordinates.

Business

Response:

Attached response provides explanation of Ocwen Loan Servicing, LLC.

Review: GMAC provided me with a trail period of reducing my mortgage payments due to hardship of 3 months. I successfully completed the trail period and GMAC/[redacted] Loan Servicing (whom bought GMAC Bankruptcy Accounts) offered me a permanent modification agreement that extended my original loan 27 years to year 2053. I would be 100 years old when my mortgage was paid off, if I lived that long. My original loan would be paid of in 2026 (13 year original loan). GMAC/[redacted] reported to the credit reporting agencies that I was late on submitting my trial period payments, which is false. I paid each payment by the first of each month. I have bank statements to prove it! This reporting of GMAC/[redacted] to [redacted] dropped my credit score 27 points!!! This is awful what this mortgage company is doing to consumers when they are never late on any payments for 9 years. I advise every consumer not to EVER agree to a Loan Modification Program, because the companies are out to make money on your account by lowering your payment and extending the loan 27 years to make interest on your money. They want to force you to take the modification and lower payment with extended years and when you decline the offer, they want to make you pay your original payment plus $400-500 extra on your mortgage payment to catch up from the trial period months. Plus advising you that this will also affect your credit score for 6 months until you catch up. Consumers beware!!!

Product_Or_Service: Mortage Trial Modification Payments

Account_Number: [redacted]Desired Settlement: DesiredSettlementID: Other (requires explanation)

Credit report to reflect that Trial Modification Agreement" was successfully completed and payments were remitted as agreed. Credit report restored to original score before GMAC/[redacted] reporting.

Business

Response:

Please see the attached.

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.

Regards,

Review: GMAC [redacted] sold me a house that had several violations to which we were not informed of, nor recommended an inspection for.

Problem Date: 11/15/2004

Purchase Date: 11/15/2004

Account Number: [redacted]

Sales Representative: [redacted]

Cost of Property Sold: $97,000

[redacted] Payment Amount Monthly: $883.58

Payment Method: Bank Card

Total Investment Paid: $95,000

I am writing this letter regarding a house that was sold to me by GMAC Mortgage.

My account number with GMAC [redacted] is listed above.

I was sold a house by GMAC [redacted] that had numerous violations, but were not informed of them upon the time of the sale. The City of Omaha conducted an inspection of the property and concluded that the conditions of the property was "uninhabitable." This resulted in the seizure of the property by the City of Omaha.

I have filed a complaint with Ocwen Loan Servicing, LLC, the company that took over my account with GMAC [redacted] because they sold me this property without disclosing the conditions of the property or having proper inspections, dated on October 14, 2013. They have not responded to our complain. Due to this unresponsive nature, it prompted me to file a formal complaint with the Revdex.com.

I would like your assistance in resolving this issue. I would like to receive my full investment from GMAC [redacted] in the amount of $95,000.

I have included information above, and will send any other information if necessary.Desired Settlement: To be refunded my investment towards the property and the [redacted] company in the total of $95,000.

Business

Response:

November 13, 2013

Dear **. [redacted]:

This is in response to your letter dated and received by Ocwen Loan Servicing, LLC (Ocwen) on November 11, 2013, regarding the complaint filed by **. [redacted] on the above-referenced account.

As a result of the 2012 Chapter 11 Residential Capital, LLC bankruptcy filing, a portion of the servicing platform and certain related assets of GMAC Mortgage, LLC (GMACM) were sold to Ocwen effective February 16, 2013. As part of that sale, Ocwen acquired the servicing and records for this account. Ocwen’s response is therefore based upon the available account records acquired from GMACM as well as account records maintained by Ocwen.

In **. [redacted]’s correspondence to your office, she claims she purchased this property from GMACM. In reviewing a copy of the HUD-1 Settlement Statement from closing (copy enclosed), the sellers of the property are listed as [redacted] and [redacted]. **. [redacted] obtained the [redacted] loan for this property through [redacted]. ([redacted]). **. [redacted] applied for a [redacted] loan with [redacted] who as a broker submitted the application to [redacted] for approval. A copy of a letter from [redacted] dated October 29, 2004 is enclosed.

A [redacted] lender is not responsible for the condition of a third party owned property.

As reflected by the HUD-1 Settlement Statement, the seller of the property was not GMACM and Ocwen is unable to comply with **. [redacted]’s request to refund her “full investment” in the amount of $95,000.00.

If you have any further questions, please contact me at ###-###-#### or directly at ###-###-####.

Sincerely,

Executive Account Manager

Review: I feel as if this company is taking advantage of me with the financing of my house. I am a 71 year old woman that has paid for this house at least twice. I need your help.Desired Settlement: Resolution to mortgage, either a paid deed or settlement. I feel as if Im done paying for it. This company has defrauded me.

Review: I had a 15 year loan that began with [redacted] in June 1995. It was a 15 year loan for $20K. At June 2010, the loan should have been paid off. The loan was paid monthly by auto draft. The loan should have been paid off in June 2010. The loan was sold to GMAC at some point. In early 2012, I started receiving monthly statements from GMAC showing I owed $1094, 81. I made numerous calls to GMAC with no luck. I then spoke to [redacted] and [redacted], all of which are representatives of GMAC at their customer service center. No one was able to help determine why I still owed money. I was told by [redacted], that I had two account numbers. At no time did I ever have two loans with [redacted] or GMAC. I sent two letters to GMAC dated 6/15/12 and 10/12/2012. I never received a response, by mail, email or phone. I even reached a supervisor, [redacted], who never returned my call.

I do remember that one payment at the beginning may have been pushed to end of loan. My montly payment was $305.39. So, worst case scenario is that I might owe one more payment, but not the $1094.81 being sent to me.

I have requested a statement from GMAC showing my payments and payment history....yet I have not been provided one. I will not pay unitl I see how they come up with that number. It also took 18 months to send me a statement once the loan cam to the end.Desired Settlement: If I owe one more payment I do not have an issue. But per my records, I do not owe anything else. I also need a letter sent to ALL Credit Reporting Agency's because this has been noted by all agency's and is affecting my credit in a negative way.

Business

Response:

Complaint # [redacted] - [redacted]

Inboxx

[redacted] - IA <[redacted].[redacted]>

3:38 PM (10 minutes ago)

to [redacted]

Hello [redacted], I am just wanting to let you know that I am actively working on this file, and will need more time to provide an accurate response. The delay is due to the fact that we are waiting on some documents from a third party, [redacted] One. Once the documents have been received, we can complete our research and provide an accurate response. Please let me know if you have any additional questions. Thank you in advance, [redacted] | Executive OfficePh: ###-###-####-[redacted] | Fax: ###-###-####Office Hours: M-F 8:15 AM - 4:45 PM

Business

Response:

Complaint # [redacted] - [redacted]

Inboxx

[redacted] - IA <[redacted].[redacted]>

Aug 30 (4 days ago)

to [redacted]

Hello [redacted], I am still waiting on account records from [redacted] one in order to provide an accurate response to your office on this file. We have escalated the request once again, and are optimistic that we will have the information next week. I am fully anticipating having a response to you by the end of next week. I apologize for the delay, but when working with third parties there is often a delay in obtain the required information. Please let me know if you have any questions. Sincerely, [redacted] | Executive Office

Business

Response:

September 5, 2013

Dear **. [redacted]:

This letter is in response to your correspondence received by Ucwen Loan Servicing, LLU (Ucwen) on August 13, 2013, regarding the concerns **. [redacted] directed to your office. Specifically, this is responsive to **. [redacted]’s concerns surrounding the amount due on the above-referenced account.

As a result of the 2012 Chapter 11 Residential Capital, LLC bankruptcy filing, a portion of the servicing platform and certain related assets of GMAC Mortgage, LLC (GMACM) were sold to Ocwen effective February 16, 2013. As part of that sale, Ocwen acquired the servicing and records for this account. Ocwen’s response is therefore based upon the available account records acquired from GMACM as well as account records maintained by Ocwen.

GMACM records confirm this loan was originally serviced by GMACM under account [redacted] until May 4, 2012, when the servicing of the loan transferred to [redacted] Servicing Center ([redacted]). However, on May 7, 2012, [redacted] transferred the servicing of the loan back to GMACM, and the loan received a new account number ([redacted]).

This loan is a second mortgage and the interest rate is calculated using the Dailey Simple Interest (DSI) method. Payments are applied in accordance with the enclosed Mortgage’s payment hierarchy as stated in section 2. Application of Payments. “Unless applicable law provided otherwise, all payments received by Lender under the Note and paragraph I hereof shall be applied by the lender first in payment of interest payable on the Note, second to the principal of the Note, and last to any late charges due under the note. ” When payments are received after the due date on a DSI loan, additional interest may have accrued and is considered due by the terms of the Note (copy enclosed).

As the enclosed account history spreadsheet reflects, a number of payments were received after the due date, resulting in additional accrued interest. Therefore, the funds received after the due date were first used to satisfy all accrued interest, and any remaining funds were applied towards the principal balance As a result, the account had an outstanding, unpaid principal loan balance at the time of the loan’s maturity in June 2010.

As of the date of this letter, the account has an outstanding principal balance in the amount of 51,094.81, which is due in full. Please note, please note interest is not accruing on this balance; however, it is considered a delinquent, unsatisfied balance, as it was due in full as of June 2010.

If the **. and **. [redacted] wish to pay the remaining balance, they may contact me to discuss payment option such as a payment over the phone. My contact information is listed below.

If you have any further questions, please contact me at ###-###-####, option 2, extension [redacted].

Sincerely,

Business

Response:

Please see the attached.

Sincerely,

Dear **. [redacted]:

This letter is in response to your correspondence received by Ucwen Loan Servicing, LLU (Ucwen) on August 13, 2013, regarding the concerns **. [redacted] directed to your office. Specifically, this is responsive to **. [redacted]’s concerns surrounding the amount due on the above-referenced account.

As a result of the 2012 Chapter 11 Residential Capital, LLC bankruptcy filing, a portion of the servicing platform and certain related assets of GMAC Mortgage, LLC (GMACM) were sold to Ocwen effective February 16, 2013. As part of that sale, Ocwen acquired the servicing and records for this account. Ocwen’s response is therefore based upon the available account records acquired from GMACM as well as account records maintained by Ocwen.

GMACM records confirm this loan was originally serviced by GMACM under account [redacted] until May 4, 2012, when the servicing of the loan transferred to [redacted] Servicing Center ([redacted]). However, on May 7, 2012, [redacted] transferred the servicing of the loan back to GMACM, and the loan received a new account number ([redacted]).

This loan is a second mortgage and the interest rate is calculated using the Dailey Simple Interest (DSI) method. Payments are applied in accordance with the enclosed Mortgage’s payment hierarchy as stated in section 2. Application of Payments. “Unless applicable law provided otherwise, all payments received by Lender under the Note and paragraph I hereof shall be applied by the lender first in payment of interest payable on the Note, second to the principal of the Note, and last to any late charges due under the note. ” When payments are received after the due date on a DSI loan, additional interest may have accrued and is considered due by the terms of the Note (copy enclosed).

As the enclosed account history spreadsheet reflects, a number of payments were received after the due date, resulting in additional accrued interest. Therefore, the funds received after the due date were first used to satisfy all accrued interest, and any remaining funds were applied towards the principal balance As a result, the account had an outstanding, unpaid principal loan balance at the time of the loan’s maturity in June 2010.

As of the date of this letter, the account has an outstanding principal balance in the amount of 51,094.81, which is due in full. Please note, please note interest is not accruing on this balance; however, it is considered a delinquent, unsatisfied balance, as it was due in full as of June 2010.

If the **. and **. [redacted] wish to pay the remaining balance, they may contact me to discuss payment option such as a payment over the phone. My contact information is listed below.

If you have any further questions, please contact me at ###-###-####, option *, extension [redacted].

Sincerely,