Dear Mr***,
Enclosed is a RMS Letter dated February 5, 2015, which indicates you will receive $3,once the documents conveying the property to the mortgage holder are recorded in the pertinent land records
Should you have questions, you may contact RMS Default Manager, Andrea *** *** at *** ***, extension ***
Sincerely,
Ray G***
Executive Resolution Analyst
Revdex.com:
I have reviewed the response made by the business in reference to comp*aint ID *** and have determined that this proposed action wou*d not reso*ve my comp*aint
It is my opinion that the action by *** in fi*ing a forec*osure against me in a *awsuit in which I did not sign any papers and I don't have any *ega* ob*igation is unethica*It is a*so my opinion that *** has apparent*y incorrect*y or incomp*ete*y processed my deceased father's mortgage paperwork and is now attempting to fix their error by dragging me into a *awsuit it unjustI sti** stand by my request to have my name removed from their forec*osure on a house I have no *ega* ob*igationI fee* that if *** gets by with fi*ing suits against anyone they choose that they wi** not on*y drag others *ike me who have *ost a *oved one through even more worry of *awsuits they wi** a*so fi** up court dockets because of their mistakes and errors
Thank you for your consideration of my comp*aint and my request
Regards,
Jan F*
Dear Mr. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on July 13, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse...
mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
• A borrower dies and the property is not the principal residence of at least one surviving borrower;
• All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
• The property ceases to be the principal residence of the last surviving borrower;
• The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
• An obligation of the borrower under the security instrument is not performed, which includes:
o Failure to maintain the property
o Failure to maintain continuous hazard insurance on the property
o Failure to pay property taxes
This loan has been in default for property taxes from July 10, 2014. Below is a breakdown of disbursements/repayments for property taxes:
Transaction Description Disburse Date/Check Date Disburse Amount
Maricopa County Taxes 2013 from Line of Credit 07/11/2014 $77.13
Maricopa County Taxes 2013 07/11/2014 $936.05
Maricopa County Taxes 2014 First Half 03/10/2015 $2,274.84
Maricopa County Taxes 2015 First Half 03/25/2016 $1,119.06
Maricopa County Taxes 2015 Second Half 05/19/2016 $1,063.11
Partial Repayment Check [redacted] 06/29/2016 ($2,450.00)
Partial Repayment Check [redacted] 06/29/2016 ($2,268.00)
Partial Repayment Check [redacted] 06/30/2016 ($2,943.06)
Stop Payment Check [redacted] 07/19/2016 $2,268.00
Total $0.00
Below are the dates the Repayment Checks were received:
• Check [redacted] received on July 1, 2016
• Check [redacted] received on July 15, 2016
• Check [redacted] received on July 1, 2016
All of the above checks are enclosed for your review and were received after the foreclosure sale date of June 29, 2016. On October 9, 2015, RMS sent you a Thirty Day Demand Letter with instructions to pay the default amount owed.
As you are aware, the loan was sold to a third party at foreclosure sale on June 29, 2016. It appears as if the third party came into an agreement with you to rescind the sale if you paid out their expenses. RMS was informed by the third party to rescind the sale and we applied the three payments above. The third party has been contacting us about the funds you promised to pay but that is between both of you. As indicated above, check [redacted] was stop paid and there is a current default balance of $0.00.
Should you have questions, you may contact Willie [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 799-7724
Enclosures: Check [redacted]
Check [redacted]
Check [redacted]
Thirty Day Demand Letter
Reverse Mortgage Solutions, Inc. (RMS) received your correspondence, provided by the Revdex.com, on September 4, 2015 and provided it to me for research and response.
Pursuant to US Department of Housing and Urban Development (HUD) guidelines, borrowers...
are required to pay all property charges including property taxes and hazard insurance. In the event the borrower does not pay property charges, RMS will advance funds to pay those charges and requires repayment of those advances. On August 28, 2015, RMS received notification from [redacted] that your hazard insurance policy had been cancelled. Due to this cancellation, RMS submitted a request for our third party vendor to obtain lender placed hazard insurance.
This amount was pending and was placed on the September 2, 2015 Payoff Statement as it was good through September 30, 2015. The loan was paid in full on September 4, 2015 with an effective date of September 3, 2015. At that time, RMS voided the payment for hazard insurance. Pending review from our third party vendor, they will determine if hazard insurance was necessary for the gap of coverage from August 28, 2015 to September 3, 2015. If they determine hazard insurance was not needed, the full amount will be refunded. Once we receive verification from our third party vendor if any funds were required for hazard insurance, we will proceed with the processing of any overages.
Per HUD guidelines, RMS is required to process overages within thirty calendar days of the payoff date. A request was placed on this loan for any overage refunds to be expedited and a refund amount of $1,452.91, which includes a refund of $931.00 for hazard insurance is being sent to you under separate cover as of the date of this letter.
Please be aware that RMS would not have requested hazard insurance if your insurance agent would not have informed us of the cancellation of hazard insurance on this property. Should you have questions, you may contact the RMS Customer Service Department at [redacted]
Sincerely,
Ray G[redacted]
Executive Resolution Analyst
[redacted]
Reverse Mortgage Solutions, Inc. (“RMS”) received your correspondence and the accompanying complaint written by [redacted] on October 26, 2015. After research and review I have provided the following response.
The loan in question, is a [redacted] insured Home...
Equity Conversion Mortgage (“HECM”) reverse mortgage. As a consequence, all actions on behalf of RMS are governed by the guidelines of the US Department of Housing and Urban Development (“HUD”). Pursuant to the guidelines, RMS is required to order a final inspection to confirm that all repairs are complete and satisfactory. RMS gives notice to all borrowers through a Loss Draft Introduction letter, informing the borrower that prior to disbursement of any final funds, an inspection of the repairs is mandatory. Once RMS receives confirmation of a satisfactory inspection and all inspection fees are deducted from the available loss draft funds, RMS will disburse the remaining available funds.
On October 5, 2015 [redacted] property was inspected and the enclosed, original inspection report determined that the repairs failed the inspection due to cosmetic damage. Subsequently, RMS received a copy of the final report from the inspection performed on October 5, 2015 and it determined that the property partially passed the inspection, with minor remaing necessary repairs. RMS will only disburse the entire loss draft funds when all work and proper documentation is complete. At this time RMS, upon receipt of necessary documentation, will disburse a percentage of the funds to [redacted] and her contractor for the completed repairs. The repair set aside funds associated with your mortgage, cover all repairs including the remaining wall crack and vinyl damage. RMS will disburse all remaing funds after the remaining repairs are complete and after all inspection fees are deducted. Thus, the first payment of loss draft funds should be disbursed to [redacted] upon receipt of all necessary documentation.
As [redacted] is aware, the fully funded [redacted] is a result of the projected inability of the borrower to maintain the property charges. The amount set aside in the [redacted] are not treated as Loan Advances nor do they bear interest. Additionally the fully funded [redacted] may not be cancelled by the borrower. All stated information regarding the policy and procedure of the [redacted] can be verified in the enclosed Loan Agreement.
RMS does not make monthly installments for insurance premiums, instead RMS makes one annual payment for the insurance premium of the property. Our records show no indication that [redacted] was paying monthly installments on the insurance premium. In efforts to correct the situation, RMS contacted Liberty Mutual and arranged to pay the outstanding amount of $322.03. At this time, RMS will disburse all annual insurance premiums directly to the insurance company. In the future, we ask that [redacted] ensure that the insurance company has notification that RMS is the mortgagee and all payment request be sent directly to them.
Should [redacted] have questions, please have her contact the RMS Customer Service Department at (877) 774-1419.
Sincerely,
Yladrea Marshall
Paralegal
(877) 774-1419
Enclosures: Home Equity Conversion Loan Agreement
Original Inspection 10/5/15
Final Inspection 10/5/15
Dear
Ms. [redacted]
Reverse
Mortgage Solutions, Inc. (RMS) received your inquiry forwarded by the RevDex.com of Metropolitan Houston (Revdex.com) on July
9, 2014, and provided to me for research and response. Note that the referenced loan was satisfied
effective June...
30, 2014. Enclosed is a
copy of the recorded Satisfaction of Mortgage for the loan.
Note
that the loan is a Federal Housing Administration (FHA) insured Home Equity
Conversion Mortgage (“HECM”) reverse mortgage.
Under HECM terms when the borrower dies the loan is then in a delinquent
status and will be called due and payable. You notified RMS of [redacted]’ death on
October 10, 2013. You were advised to
provide a listing agreement to indicate that the property would be placed on
the market for sale. On October 23, 2013
you provided information about your realtor, but RMS did not receive a copy of
the listing agreement until April 10, 2014.
A review of the listing agreement indicates that it expired on April 30,
2014.
Because
you indicated that the property was for sale RMS granted an extension of time
to satisfy the loan prior to the initiation of foreclosure action effective
from March 6, 2014 to July 4, 2014. Note
that a request for an additional extension of time must be received thirty (30)
days prior to the expiration of the initial extension of time. On June 4, 2014 you advised RMS of your
intention to satisfy the loan; however, you indicated that you did not receive
an approval letter for funding. It was
reiterated to you to provide a copy of the approval letter once obtained.
Since
RMS was unable to grant a second extension of time to delay foreclosure action,
on June
20, 2014 the loan was referred to counsel to initiate foreclosure action by
July 4, 2014. Pursuant to the
requirement to initiate foreclosure action on July 4, 2014 counsel issued a
notice to you on June 30, 2014 to advise you of the pending foreclosure action. On that same date RMS received the wire
transfer for the payoff of the loan.
Upon receipt RMS took steps to stop the foreclosure action. A request was submitted to expense any fees
assessed; therefore, there will be no fees charged to you for
the foreclosure referral.
Should
you have questions, you may contact the
RMS Customer Service Department at [redacted]
Sincerely,
[redacted]
Executive
Resolution Supervisor
[redacted]
Dear Mr. Woznick:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on September 16, 2015, and provided it to me for research and response.
On September 14, 2015, RMS received a typed request to release all your funds in your line of credit along with a...
voided check. On September 15, 2015, RMS received a signed Unscheduled Advance Request Form and Certification of Occupancy. RMS was unable to move forward with the first request as it was typed and without a hand written signature. The second request was processed on September 16, 2015, and the check was issued by mail since there were no references to send by ACH on September 17, 2015.
If you would have requested an ACH set up on the second advance request, we would have processed it as your signature was provided. RMS regrets any inconvenience received in the processing of your $8,739.14 advance. Please submit a request in writing if you would still like to set up your banking account for ACH withdrawals. At this time, there are no more funds in your Line of Credit for withdrawal.
Upon review of the notes on the loan, there were three calls on September 15, 2015. The first call was disconnected before account could be verified, the second call referenced sending in the
Unscheduled Advance Request Form and Certification of Occupancy, and the third call was to confirm receipt of Unscheduled Advance Request Form and voided check. RMS informed you
on the third call that the draw request was invalid due to name was typed and you were advised to resend a new Unscheduled Advance Request Form with an actual voided check. On September 16, 2015, you requested to speak to a Supervisor and you were transferred to the voicemail of Caroline F[redacted]. On September 18, 2015, Caroline F[redacted] returned your call and left a voicemail on your cellphone.
As of the date of this letter, you should have received the advance requested. RMS regrets any confusion that you may have received in the processing of your advance. Should you have further questions, you may contact RMS Customer Service Supervisor, Caroline F[redacted], at
(866) 503-5559, extension 8752.
Sincerely,
Ray G[redacted]
Executive Resolution Analyst
(866) 503-5559
As way of background the referenced [redacted] Housing Administration ([redacted]) insured [redacted] (“[redacted]”) reverse mortgage. Pursuant to the te[redacted] of the *oan documents, the death of the borrower is an event which triggers maturity and resu*ts in the *oan becoming due...
and payab*e. The date of Mr. [redacted] death is Ju*y 4, 2014. [redacted] proceeded to send the requisite notice and initiated forec*osure proceedings in accordance with the guide*ines of the United States Department of Housing and Urban Deve*opment ([redacted]). Ms. F[redacted] is not a borrower under the te[redacted] of the referenced *oan and is not ob*igated on the reverse mortgage note. Rather, she is the daughter of the borrower, Mr. [redacted]
Despite the foregoing, in order to forec*ose the *ienho*der’s interest in and obtain c*ear tit*e to rea* property under Ok*ahoma *aw, it is necessary for a** parties that have, or may have, an interest in the property to be named as parties in the forec*osure action. In this instance, a** of Mr. [redacted] heirs (both known and unknown) may have an interest in the property and must be joined in the matter to extinguish that possib*e interest. This wou*d inc*ude Ms. F[redacted] as
Mr. [redacted] was her father. The naming of Ms. F[redacted]’ “spouse, if any” as a party to the *awsuit is necessary in order to address any homestead interest that cou*d possib*y be asserted, if any.
We wou*d *ike to emphasize that by naming these necessary parties in the forec*osure action, [redacted] is not seeking money from Ms. F[redacted], her “spouse, if any”, or any other heirs or potentia* heirs. Rather, by fi*ing the forec*osure action and inc*uding a** of the named parties, [redacted] is attempting to c*ear tit*e pursuant to Ok*ahoma *aw. Neither Ms. F[redacted] nor her “spouse, if any” have any persona**iabi*ity for the amounts owed on the reverse mortgage *oan.
[redacted] is represented by the *aw firm of Baer, Timber*ake, Cou*son, & Cates, P.C. in Ok*ahoma City. Ms. F[redacted] , or any counse* she chooses to retain, may contact their office direct*y at [redacted] to discuss possib*e options. It is our understanding that one option that a named party has is to fi*e a disc*aimer of interest in the forec*osure action. In order to c*ear tit*e, [redacted] must continue the forec*osure with a** necessary parties. However, we are hopefu* that Ms. F[redacted] wi** take comfort in knowing that [redacted] is not seeking a monetary judgment against her or her spouse persona**y.
Ms. F[redacted] a*so expressed some concern about her credit. According*y, we wou*d a*so *ike to note that [redacted] does not report information (negative or otherwise) to credit bureaus.
By way of background, the referenced loan is a [redacted] insured [redacted] ([redacted]) reverse mortgage. Since the [redacted] reverse mortgage is FHA insured, the property must meet certain FHA requirements for maintenance. Under this program a [redacted]...
reverse mortgage may close if the home does not meet FHA standards for maintenance if those standards can be met through repairs financed by the proceeds of the [redacted] reverse mortgage.
Pursuant to the enclosed Adjustable Rate [redacted] Repair Rider (“Repair Rider”) certain repairs were required for the detached garage to scrape and replace peeling paint on the garage frame door and soffit. Under the terms of the [redacted] agreement $300.00 was set aside from other funds to be accessed for the completion of this repair by June 30, 2015. As the garage was destroyed by fire, those repairs are no longer the issue.
On March 5, 2015 RMS received the enclosed Statement of Loss from [redacted] to advise of fire damage to the garage for a loss in the amount of $31,203.40. RMS received checks in the amount of $25,872.00 and $665.29 for the repairs to the fire damage and a copy of the contract with [redacted] to complete the repair of the garage. Based on this, RMS issued $13,268.65 from the insurance checks for the repair of the garage to begin.
RMS has disbursed funds to Ms. [redacted] based on withdrawal requests she has submitted; however, this stopped after June 30, 2015 because the required repairs were not yet completed. Under the terms of the [redacted] reverse mortgage she was required to complete the repairs by June 30, 2015. Since the garage has been damaged in a fire, the required repairs have not been completed. The damage to the garage must be repaired. Once this damage is repaired, and an inspection of the repairs has established that the garage has been repaired according to the Insurance Adjuster’s Report, RMS can then issue the remainder of the insurance claim funds and will also be able to disburse withdrawal requests from the Line of Credit.
Once the repairs are completed, Ms. [redacted] must contact Loss Draft Administrator, Brittney P[redacted], at [redacted], extension [redacted] to schedule an inspection and to determine if any additional documentation is required to obtain the remaining insurance claim funds. She may also direct any questions regarding the process she may have to Ms. P[redacted].
Property: [redacted]
[redacted]
Dear Ms. [redacted]:
Your Revdex.com inquiry was received by Reverse Mortgage Solutions, Inc. (RMS) on
July 8, 2014, and given to me for research and response.
The loan was referred for a Deed-In-Lieu (“DIL”) on March 17, 2014 by [redacted] RMS was processing the request and kept you abreast of the situation. RMS informed you on April 17, 2014 that the Affidavit of Heirship was sent to the Title Company for recording. RMS has located a Title Lender to insure the property and verified that the Title on the property is clear.
The Law Firm processing the DIL request informed RMS that [redacted] spoke with you on July 16, 2014, about the progression of the DIL and that debris was still in the property. One of the requirements of processing the DIL was that the property was broom swept. The DIL process should be completed within a couple of weeks. Should you have questions, you may contact RMS Deed-In-Lieu Specialist, [redacted] at ([redacted], extension [redacted].
Sincerely,
[redacted]
Executive Resolution Analyst
[redacted]
Revdex.com:This company HAS NOT AT ALL kept in contact with us EVER ! NOR did they EVER SEND the information and oayments made to US as they did here. NOT TO MENTION 100? lying telling you there waz ANY agreement made to repay. Because when I asked I WAS TOLD , NOT an option. I alsk have asked fkr YEARS to.speak to someone other than and in a higher position than the default department which I was told no one exists ! And I waz NOT TOLD about a repayment before the foreclosure sale , which they obviously are again playing a game because my mother is NOT legally responsible for her signature , and has nkt been for 4 years. Thats stated in the power of attorney they been sent , and faxed over 4 times. This company is telling ALL B.SAND I WILL NOT ALLOW THIER GAME to continue. I DEMAND PROOF OFwhatbTHEY claim they agreed to az repayment options ! Including the recorded call they refuse ANY repayment !!
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.
[Provide details of why you are not satisfied with this resolution.]
Regards,
Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on July 13, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse...
mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
• A borrower dies and the property is not the principal residence of at least one surviving borrower;
• All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
• The property ceases to be the principal residence of the last surviving borrower;
• The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
• An obligation of the borrower under the security instrument is not performed, which includes:
o Failure to maintain the property
o Failure to maintain continuous hazard insurance on the property
o Failure to pay property taxes
Below is a breakdown of all disbursements/repayments for property taxes and lender place hazard insurance at RMS:
Transaction Description Disburse/Check Date Disburse Amount
Lender Place Hazard Insurance 05/20/2013-14 08/29/2013 $1,275.00
Lender Place Hazard Insurance Refund 05/20/2013-14 09/27/2013 ($1,275.00)
Property Taxes Baltimore City 2013-14 04/28/2014 $1,155.42
Baltimore City Duplicate Bill Fee 04/29/2014 $3.00
Lender Place Hazard Insurance 05/20/2014-15 05/23/2014 $313.00
Partial Repayment 10/09/2014 ($82.00)
Partial Repayment 11/07/2014 ($82.00)
Partial Repayment 12/05/2014 ($81.00)
2014 Property Tax Attorney Fees 01/06/2015 $814.80
2014 Property Tax Attorney Fees Refund 01/08/2015 ($814.80)
Property Taxes Baltimore City 2014 01/21/2015 $5,447.57
2014 Property Tax Settlement Attorney Fee 01/21/2015 $2,624.80
Property Taxes Baltimore City Refund 03/23/2015 ($1,175.56)
Lender Place Hazard Insurance 03/20/2015-05/20/2015 03/24/2015 ($52.31)
Partial Repayment 04/21/2015 ($340.00)
Partial Repayment 05/11/2015 ($337.00)
Partial Repayment 06/15/2015 ($335.00)
Partial Repayment 06/18/2015 ($10.00)
Partial Repayment 07/21/2015 ($337.00)
Partial Repayment 09/17/2015 ($340.00)
Lender Place Hazard Insurance 09/10/2015-16 11/18/2015 $340.00
Partial Repayment 12/10/2015 ($340.00)
Refund 02/22/2016 ($191.37)
Refund 06/17/2016 ($148.63)
Lender Place Hazard Insurance 04/15/2016 06/20/2016 $352.00
Total $6,383.92
On April 23, 2015, you entered into a Repayment Plan Agreement (enclosed) with RMS for twenty four consecutive payments of $336.29 to total $8,070.92, with the first payment being due on April 25, 2015. As verified above, you did not make a payment in August, October, and November of 2015. Enclosed is the RMS Letter dated December 1, 2015, which indicated that the Repayment Plan Agreement you had entered into had been cancelled. Per HUD guidelines,
once a repayment plan is broken due to non-payment or there are disbursements for property taxes/hazard insurance occur, no future repayment plans may be entered into. At this time the total amount of $6,383.92 is due to reinstate the loan from foreclosure. You have up to the foreclosure sale date to satisfy the default amount of $6,383.92. A foreclosure sale date has not been set, so it is imperative that you stay in constant communication with RMS
The failure of payments was not due to the address change as the missing payments were prior to the December 7, 2015 move date from [redacted] to [redacted].
Should you have questions, you may contact Willie [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray [redacted]
Sr. Executive Resolution Analyst
(866) 799-7724
Enclosures: Repayment Plan Agreement
RMS Letter dated December 1, 2015
[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.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted] and find that this resolution would be satisfactory to me. I finally did get my money or at least most of it. The check was made out to me and the roofing company even though RMS had a copy of the receipt showing I had paid the roofing company in full so I had to make arrangements to meet the owner at his bank in order to get the check cashed. There was absolutely no need for this except to make things difficult for me.
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.
[Provide details of why you are not satisfied with this resolution.]
Regards,I was not made aware that I could make an additional draw as stated. In fact I protested the need for an inspection at my expense from the very first contact with RMS. I also protested their withholding half of the available funds. I was told "that is our procedure" and therefore having no alternative available and needing to get the roof repaired I did in fact pay out of pocket for the repairs. I did provide all of the requested forms as stated. The inspection was completed on August 25th and the inspector assured me RMS would have a copy the next morning. I still have not heard a word from them about releasing MY funds. As far as contacting [redacted] goes I have in fact tried on several occasions to do so and have only once gotten through to her and none of the voice mails I have left her were ever returned. This complaint will only be resolved to my satisfaction when my funds are released to me.
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.
[Provide details of why you are not satisfied with this resolution.]
Regards,The reasons that I do not accept in total the response from RMS iare:As RMS note I do respond to the annual occupancy as I had twice before the third notice was received. In that notice they indicate (as they did in the second) which I answered anyway was to disregard the notice if the occupancy statement had been sent. Since I was concerned I called RMS and was treated as collection agency's tend to do with a belligerent person who "wouldn't answer my question" unless I answered theirs first. I did indicate who I was, why I was calling, and the loan I was calling about. I would not answer other questions that were'nt pertinent to the matter at hand and they refused to help me. It wasn't until a supervisor I requested returned my call to let me know they didn't have the occupancy statement which I agreed to send immediately. Instead of waiting for the mail, they contacted my son which I asked them not to do any more.RMS indicated only in general that they were in certain circumstances they were required to notify that they were a collection agency but did not say whether this instance was one of those circumstances and under what FHA directive. I want to know that. There is no need to make anyone feel as though they were being threatened or made to feel "distressed".What if I hadn't followed up given their "Disregard if you returned the occupancy form". As far as I was concerned I had.Their mentality is not as a service agency, but a collection agency. I specifically asked about this when I signed the contract and was told that all I would get from them was a monthly statement. Not notices of possible foreclosure that aren't warranted. They need to change their way of doing business.[redacted]
Dear Mr. [redacted]
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on August 22, 2016, and provided it to me for research and response.
You are not authorized on this loan. In order to receive loan specific information, you must obtain a signed...
written authorization from the borrower. Once we receive this information, we will be able to address your concerns.
Should you have questions, you may contact RMS Customer Service Department during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at
(866) 503-5559.
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 503-5559
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on March 18, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage...
(“HECM”) reverse mortgage governed by the U.S. Department of Housing and Urban Development (HUD). Under HECM terms the borrower is not required to make monthly payments. The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
A borrower dies and the property is not the principal residence of at least one surviving borrower;
All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
The property ceases to be the principal residence of the last surviving borrower;
The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
An obligation of the borrower under the security instrument is not performed, which includes:
Failure to maintain the property
Failure to maintain continuous hazard insurance on the property
Failure to pay property taxes
As stated above, you may stay in the property as long as all the above events are met. As you are aware, this loan is in foreclosure for failure to maintain hazard insurance. Below is the Repayment Plan agreed upon and broken:
· On October 23, 2015, you agreed to twenty seven consecutive monthly payments of $60.89 to satisfy a default amount of $1,644.00, with the first payment due on
October 26, 2015. RMS only received the October 2015 and November 2015 payments. There was also a disbursement of $1,186.00 to lender placed hazard insurance for the periods of March 15, 2016-17. Both of these events are considered as events to break the plan. After a plan is broken, HUD will no longer allow for another plan and the total default amount is due.
Below is all disbursements and repayments for lender placed hazard insurance:
Transaction Description
Disburse/Check Date
Disburse Amount
Lender Placed Hazard Insurance for 03/15/2014-15
05/15/2014
$808.00
Lender Placed Hazard Insurance for 03/15/2015-16
03/19/2015
$836.00
Partial Repayment
10/23/2015
($60.89)
Partial Repayment
11/18/2015
($60.89)
Lender Placed Hazard Insurance for 03/15/2016-17
03/17/2016
$1,186.00
Total
$2,708.22
Once again, it is your responsibility to maintain hazard insurance. Please contact RMS to set up payment arrangements to pay the total amount due of $2,708.22. You have up to the estimated foreclosure sale date of February 28, 2017 to satisfy this default amount.
RMS Legal Counsel has reviewed your allegations that HECM for Purchase Mortgages are not allowed in New Jersey. There are no statutes that do not allow for HECM for Purchase Mortgages. Please provide copies of said statutes if you are disputing the above information. If the HECM for Purchase Mortgage was not allowed, you would not have benefited from the purchase of a $200,000.00 property for $93,652.42. Enclosed is a copy of your HUD-1 Settlement Statement for your review, which breaks down contract sales price, settlement charges, property taxes owed, and the principal amount of the loan.
RMS will continue with foreclosure proceedings as we have followed all HUD regulations and all requirements in your loan agreement. RMS has provided you with all the information to make the necessary decision to proceed with a HECM for Purchase Mortgage and the qualifications to stay in the property. Enclosed is the HECM Counseling Certificate that verifies you were provided with all options available to you besides a HECM reverse mortgage.
Should you have questions, you may contact Willie [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Dear Mr. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on October 28, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse...
mortgage governed by the U.S. Department of Housing and Urban Development (HUD).
RMS received notification that Alexander [redacted] passed away on May 23, 2016. At that time, loan was called due and payable for death of the last surviving borrower. Enclosed is a copy of the Condolence Letter sent to the Estate of Alexander [redacted] with information to satisfy the loan. Below is the Creditor’s Rights:
If the Loan is not satisfied pursuant to one of the options set forth herein above under Options to Satisfy the Loan within thirty days from the date of this notice, we will begin the process of foreclosure of the Property.
HUD guidelines requires RMS to file first legal prior to the sixth month from the death date. In order to meet first legal, the loan is referred to foreclosure counsel three months prior to the six month deadline. First legal was filed on October 17, 2016. As stated above, RMS may begin
foreclosure proceedings after thirty days of notification of death. Below is HUD 24 CFR 206.125 Acquisition Sale of the Property (d) Initiation of foreclosure:
(1) The mortgagee shall commence foreclosure of the mortgage within six months of giving notice to the mortgagor that the mortgage is due and payable, or six months from the date of the mortgagor's death if appli[redacted], or within such additional time as may be approved by the Secretary.
Below are conversations/correspondence we had with you about the loan:
• On May 20, 2016, you indicated that you might be selling the house
• On May 27, 2016, you notified us of the death of Alexander [redacted] and we informed you of documents required such as Death Certificate, Will/Executorship documents, Letter of Intent.
• On June 22, 2016, advised that Executor documents, Letter of Intent, Death Certificate and payoff request was needed. Also advised that Listing Agreement was needed for first ninety day extension.
• On June 28, 2016, informed you that Executor documents, Letter of Intent, and Death Certificate were received. You informed that you did not have a Listing Agreement yet and also want authorization for your broker.
• On June 27, 2016, you informed us that Listing Agreement would be received by end of the month and a written request for an Appraisal is required.
• On August 11, 2016, RMS received a written request for a copy of an Appraisal. Appraisal was mailed to [redacted] address.
• On August 19, 2016, you contacted RMS on status of copy of Appraisal and your mailing address was updated.
• On August 30, 2016, you contacted RMS on status of copy of Appraisal.
• On September 7, 2016, returned mail was received with copy of Appraisal.
• On September 10, 2016, you received a copy of the Appraisal.
• On October 3, 2016, we advised you to send in Listing Agreement as time is of the essences. You stated that the property would be on the market by October 15, 2016.
• On October 3, 2016 – Received Listing Agreement at Customer Service Email address.
• On October 6, 2016 – Forwarded to Marketing Extensions, Foreclosure Sale Date Email addresses.
• On October 14, 2016, we advised you that Listing Agreement was received and was under review. Also advised that Payoff request should be in writing.
• On October 17, 2016, First Legal Filed.
• On October 18, 2016, Foreclosure Sale Date set for November 22, 2016.
• On October 21, 2016, we informed you that foreclosure had begun and the Listing Agreement was sent late.
• On October 27, 2016, RMS advised you that proof of funds was needed for a postponement prior to foreclosure sale date.
RMS did send a copy of the Appraisal to the address on file and it was returned as undeliverable. Your mailing address was not updated until after we initially sent the copy of the Appraisal.
As indicated in the timeline listed above, you were made fully aware of what was required for extensions. There is no automatic six month extension as indicated by the HUD guidelines provided and a ninety day marketing extension has to be approved by HUD. RMS received the Listing Agreement eleven days prior to First Legal being filed. This was not enough time to process and request approval from HUD for a marketing extension.
RMS has stopped foreclosure proceedings and have extended the foreclosure sale date to
January 4, 2017. You have up to that date to sell the property. It is imperative that you stay in constant communication with RMS as to the status of the sale of the property. If you require a Payoff Statement, please request in writing.
Should you have questions, you may contact Ana [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 799-7724
As stated in my prior response, it is necessary for a** parties that have or may have an interest in [redacted], [redacted] property to be named in the forec*osure action in order to c*ear tit*e. This action is a**owed under Ok*ahoma *aw and is necessary to ensure that Ms. F[redacted] or any other heirs of Mr. [redacted] cannot exercise any c*aim to the property after the forec*osure action is comp*eted. P*ease re-review the *ast paragraph of the prior response wherein it indicates that there are no credit bureau fi*ings made for reverse mortgages.
Ms. F[redacted] may have *ega* options to remove her interest in the property. A *oca* attorney fami*iar with rights of succession may be ab*e to he*p her to determine the best course of action. Shou*d you have questions, you may contact the *aw firm of Baer, Timber*ake, Cou*son, & Cates, P.C. at [redacted].
Enclosed is a RMS Letter dated February 5, 2015, which indicates you will receive $3,000.00 once the documents conveying the property to the mortgage holder are recorded in the pertinent land records.
Should you have questions, you may contact RMS Default Manager,...
Andrea [redacted] at [redacted], extension [redacted].
Dear Mr***,
Enclosed is a RMS Letter dated February 5, 2015, which indicates you will receive $3,once the documents conveying the property to the mortgage holder are recorded in the pertinent land records
Should you have questions, you may contact RMS Default Manager, Andrea *** *** at *** ***, extension ***
Sincerely,
Ray G***
Executive Resolution Analyst
Revdex.com:
*
I have reviewed the response made by the business in reference to comp*aint ID *** and have determined that this proposed action wou*d not reso*ve my comp*aint
It is my opinion that the action by *** in fi*ing a forec*osure against me in a *awsuit in which I did not sign any papers and I don't have any *ega* ob*igation is unethica*It is a*so my opinion that *** has apparent*y incorrect*y or incomp*ete*y processed my deceased father's mortgage paperwork and is now attempting to fix their error by dragging me into a *awsuit it unjustI sti** stand by my request to have my name removed from their forec*osure on a house I have no *ega* ob*igationI fee* that if *** gets by with fi*ing suits against anyone they choose that they wi** not on*y drag others *ike me who have *ost a *oved one through even more worry of *awsuits they wi** a*so fi** up court dockets because of their mistakes and errors
Thank you for your consideration of my comp*aint and my request
Regards,
Jan F
Dear Mr. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on July 13, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse...
mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
• A borrower dies and the property is not the principal residence of at least one surviving borrower;
• All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
• The property ceases to be the principal residence of the last surviving borrower;
• The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
• An obligation of the borrower under the security instrument is not performed, which includes:
o Failure to maintain the property
o Failure to maintain continuous hazard insurance on the property
o Failure to pay property taxes
This loan has been in default for property taxes from July 10, 2014. Below is a breakdown of disbursements/repayments for property taxes:
Transaction Description Disburse Date/Check Date Disburse Amount
Maricopa County Taxes 2013 from Line of Credit 07/11/2014 $77.13
Maricopa County Taxes 2013 07/11/2014 $936.05
Maricopa County Taxes 2014 First Half 03/10/2015 $2,274.84
Maricopa County Taxes 2015 First Half 03/25/2016 $1,119.06
Maricopa County Taxes 2015 Second Half 05/19/2016 $1,063.11
Partial Repayment Check [redacted] 06/29/2016 ($2,450.00)
Partial Repayment Check [redacted] 06/29/2016 ($2,268.00)
Partial Repayment Check [redacted] 06/30/2016 ($2,943.06)
Stop Payment Check [redacted] 07/19/2016 $2,268.00
Total $0.00
Below are the dates the Repayment Checks were received:
• Check [redacted] received on July 1, 2016
• Check [redacted] received on July 15, 2016
• Check [redacted] received on July 1, 2016
All of the above checks are enclosed for your review and were received after the foreclosure sale date of June 29, 2016. On October 9, 2015, RMS sent you a Thirty Day Demand Letter with instructions to pay the default amount owed.
As you are aware, the loan was sold to a third party at foreclosure sale on June 29, 2016. It appears as if the third party came into an agreement with you to rescind the sale if you paid out their expenses. RMS was informed by the third party to rescind the sale and we applied the three payments above. The third party has been contacting us about the funds you promised to pay but that is between both of you. As indicated above, check [redacted] was stop paid and there is a current default balance of $0.00.
Should you have questions, you may contact Willie [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 799-7724
Enclosures: Check [redacted]
Check [redacted]
Check [redacted]
Thirty Day Demand Letter
Dear Mr. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your correspondence, provided by the Revdex.com, on September 4, 2015 and provided it to me for research and response.
Pursuant to US Department of Housing and Urban Development (HUD) guidelines, borrowers...
are required to pay all property charges including property taxes and hazard insurance. In the event the borrower does not pay property charges, RMS will advance funds to pay those charges and requires repayment of those advances. On August 28, 2015, RMS received notification from [redacted] that your hazard insurance policy had been cancelled. Due to this cancellation, RMS submitted a request for our third party vendor to obtain lender placed hazard insurance.
This amount was pending and was placed on the September 2, 2015 Payoff Statement as it was good through September 30, 2015. The loan was paid in full on September 4, 2015 with an effective date of September 3, 2015. At that time, RMS voided the payment for hazard insurance. Pending review from our third party vendor, they will determine if hazard insurance was necessary for the gap of coverage from August 28, 2015 to September 3, 2015. If they determine hazard insurance was not needed, the full amount will be refunded. Once we receive verification from our third party vendor if any funds were required for hazard insurance, we will proceed with the processing of any overages.
Per HUD guidelines, RMS is required to process overages within thirty calendar days of the payoff date. A request was placed on this loan for any overage refunds to be expedited and a refund amount of $1,452.91, which includes a refund of $931.00 for hazard insurance is being sent to you under separate cover as of the date of this letter.
Please be aware that RMS would not have requested hazard insurance if your insurance agent would not have informed us of the cancellation of hazard insurance on this property. Should you have questions, you may contact the RMS Customer Service Department at [redacted]
Sincerely,
Ray G[redacted]
Executive Resolution Analyst
[redacted]
Reverse Mortgage Solutions, Inc. (“RMS”) received your correspondence and the accompanying complaint written by [redacted] on October 26, 2015. After research and review I have provided the following response.
The loan in question, is a [redacted] insured Home...
Equity Conversion Mortgage (“HECM”) reverse mortgage. As a consequence, all actions on behalf of RMS are governed by the guidelines of the US Department of Housing and Urban Development (“HUD”). Pursuant to the guidelines, RMS is required to order a final inspection to confirm that all repairs are complete and satisfactory. RMS gives notice to all borrowers through a Loss Draft Introduction letter, informing the borrower that prior to disbursement of any final funds, an inspection of the repairs is mandatory. Once RMS receives confirmation of a satisfactory inspection and all inspection fees are deducted from the available loss draft funds, RMS will disburse the remaining available funds.
On October 5, 2015 [redacted] property was inspected and the enclosed, original inspection report determined that the repairs failed the inspection due to cosmetic damage. Subsequently, RMS received a copy of the final report from the inspection performed on October 5, 2015 and it determined that the property partially passed the inspection, with minor remaing necessary repairs. RMS will only disburse the entire loss draft funds when all work and proper documentation is complete. At this time RMS, upon receipt of necessary documentation, will disburse a percentage of the funds to [redacted] and her contractor for the completed repairs. The repair set aside funds associated with your mortgage, cover all repairs including the remaining wall crack and vinyl damage. RMS will disburse all remaing funds after the remaining repairs are complete and after all inspection fees are deducted. Thus, the first payment of loss draft funds should be disbursed to [redacted] upon receipt of all necessary documentation.
As [redacted] is aware, the fully funded [redacted] is a result of the projected inability of the borrower to maintain the property charges. The amount set aside in the [redacted] are not treated as Loan Advances nor do they bear interest. Additionally the fully funded [redacted] may not be cancelled by the borrower. All stated information regarding the policy and procedure of the [redacted] can be verified in the enclosed Loan Agreement.
RMS does not make monthly installments for insurance premiums, instead RMS makes one annual payment for the insurance premium of the property. Our records show no indication that [redacted] was paying monthly installments on the insurance premium. In efforts to correct the situation, RMS contacted Liberty Mutual and arranged to pay the outstanding amount of $322.03. At this time, RMS will disburse all annual insurance premiums directly to the insurance company. In the future, we ask that [redacted] ensure that the insurance company has notification that RMS is the mortgagee and all payment request be sent directly to them.
Should [redacted] have questions, please have her contact the RMS Customer Service Department at (877) 774-1419.
Sincerely,
Yladrea Marshall
Paralegal
(877) 774-1419
Enclosures: Home Equity Conversion Loan Agreement
Original Inspection 10/5/15
Final Inspection 10/5/15
Dear
Ms. [redacted]
Reverse
Mortgage Solutions, Inc. (RMS) received your inquiry forwarded by the RevDex.com of Metropolitan Houston (Revdex.com) on July
9, 2014, and provided to me for research and response. Note that the referenced loan was satisfied
effective June...
30, 2014. Enclosed is a
copy of the recorded Satisfaction of Mortgage for the loan.
Note
that the loan is a Federal Housing Administration (FHA) insured Home Equity
Conversion Mortgage (“HECM”) reverse mortgage.
Under HECM terms when the borrower dies the loan is then in a delinquent
status and will be called due and payable. You notified RMS of [redacted]’ death on
October 10, 2013. You were advised to
provide a listing agreement to indicate that the property would be placed on
the market for sale. On October 23, 2013
you provided information about your realtor, but RMS did not receive a copy of
the listing agreement until April 10, 2014.
A review of the listing agreement indicates that it expired on April 30,
2014.
Because
you indicated that the property was for sale RMS granted an extension of time
to satisfy the loan prior to the initiation of foreclosure action effective
from March 6, 2014 to July 4, 2014. Note
that a request for an additional extension of time must be received thirty (30)
days prior to the expiration of the initial extension of time. On June 4, 2014 you advised RMS of your
intention to satisfy the loan; however, you indicated that you did not receive
an approval letter for funding. It was
reiterated to you to provide a copy of the approval letter once obtained.
Since
RMS was unable to grant a second extension of time to delay foreclosure action,
on June
20, 2014 the loan was referred to counsel to initiate foreclosure action by
July 4, 2014. Pursuant to the
requirement to initiate foreclosure action on July 4, 2014 counsel issued a
notice to you on June 30, 2014 to advise you of the pending foreclosure action. On that same date RMS received the wire
transfer for the payoff of the loan.
Upon receipt RMS took steps to stop the foreclosure action. A request was submitted to expense any fees
assessed; therefore, there will be no fees charged to you for
the foreclosure referral.
Should
you have questions, you may contact the
RMS Customer Service Department at [redacted]
Sincerely,
[redacted]
Executive
Resolution Supervisor
[redacted]
Dear Mr. Woznick:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on September 16, 2015, and provided it to me for research and response.
On September 14, 2015, RMS received a typed request to release all your funds in your line of credit along with a...
voided check. On September 15, 2015, RMS received a signed Unscheduled Advance Request Form and Certification of Occupancy. RMS was unable to move forward with the first request as it was typed and without a hand written signature. The second request was processed on September 16, 2015, and the check was issued by mail since there were no references to send by ACH on September 17, 2015.
If you would have requested an ACH set up on the second advance request, we would have processed it as your signature was provided. RMS regrets any inconvenience received in the processing of your $8,739.14 advance. Please submit a request in writing if you would still like to set up your banking account for ACH withdrawals. At this time, there are no more funds in your Line of Credit for withdrawal.
Upon review of the notes on the loan, there were three calls on September 15, 2015. The first call was disconnected before account could be verified, the second call referenced sending in the
Unscheduled Advance Request Form and Certification of Occupancy, and the third call was to confirm receipt of Unscheduled Advance Request Form and voided check. RMS informed you
on the third call that the draw request was invalid due to name was typed and you were advised to resend a new Unscheduled Advance Request Form with an actual voided check. On September 16, 2015, you requested to speak to a Supervisor and you were transferred to the voicemail of Caroline F[redacted]. On September 18, 2015, Caroline F[redacted] returned your call and left a voicemail on your cellphone.
As of the date of this letter, you should have received the advance requested. RMS regrets any confusion that you may have received in the processing of your advance. Should you have further questions, you may contact RMS Customer Service Supervisor, Caroline F[redacted], at
(866) 503-5559, extension 8752.
Sincerely,
Ray G[redacted]
Executive Resolution Analyst
(866) 503-5559
As way of background the referenced [redacted] Housing Administration ([redacted]) insured [redacted] (“[redacted]”) reverse mortgage. Pursuant to the te[redacted] of the *oan documents, the death of the borrower is an event which triggers maturity and resu*ts in the *oan becoming due...
and payab*e. The date of Mr. [redacted] death is Ju*y 4, 2014. [redacted] proceeded to send the requisite notice and initiated forec*osure proceedings in accordance with the guide*ines of the United States Department of Housing and Urban Deve*opment ([redacted]). Ms. F[redacted] is not a borrower under the te[redacted] of the referenced *oan and is not ob*igated on the reverse mortgage note. Rather, she is the daughter of the borrower, Mr. [redacted]
Despite the foregoing, in order to forec*ose the *ienho*der’s interest in and obtain c*ear tit*e to rea* property under Ok*ahoma *aw, it is necessary for a** parties that have, or may have, an interest in the property to be named as parties in the forec*osure action. In this instance, a** of Mr. [redacted] heirs (both known and unknown) may have an interest in the property and must be joined in the matter to extinguish that possib*e interest. This wou*d inc*ude Ms. F[redacted] as
Mr. [redacted] was her father. The naming of Ms. F[redacted]’ “spouse, if any” as a party to the *awsuit is necessary in order to address any homestead interest that cou*d possib*y be asserted, if any.
We wou*d *ike to emphasize that by naming these necessary parties in the forec*osure action, [redacted] is not seeking money from Ms. F[redacted], her “spouse, if any”, or any other heirs or potentia* heirs. Rather, by fi*ing the forec*osure action and inc*uding a** of the named parties, [redacted] is attempting to c*ear tit*e pursuant to Ok*ahoma *aw. Neither Ms. F[redacted] nor her “spouse, if any” have any persona**iabi*ity for the amounts owed on the reverse mortgage *oan.
[redacted] is represented by the *aw firm of Baer, Timber*ake, Cou*son, & Cates, P.C. in Ok*ahoma City. Ms. F[redacted] , or any counse* she chooses to retain, may contact their office direct*y at [redacted] to discuss possib*e options. It is our understanding that one option that a named party has is to fi*e a disc*aimer of interest in the forec*osure action. In order to c*ear tit*e, [redacted] must continue the forec*osure with a** necessary parties. However, we are hopefu* that Ms. F[redacted] wi** take comfort in knowing that [redacted] is not seeking a monetary judgment against her or her spouse persona**y.
Ms. F[redacted] a*so expressed some concern about her credit. According*y, we wou*d a*so *ike to note that [redacted] does not report information (negative or otherwise) to credit bureaus.
By way of background, the referenced loan is a [redacted] insured [redacted] ([redacted]) reverse mortgage. Since the [redacted] reverse mortgage is FHA insured, the property must meet certain FHA requirements for maintenance. Under this program a [redacted]...
reverse mortgage may close if the home does not meet FHA standards for maintenance if those standards can be met through repairs financed by the proceeds of the [redacted] reverse mortgage.
Pursuant to the enclosed Adjustable Rate [redacted] Repair Rider (“Repair Rider”) certain repairs were required for the detached garage to scrape and replace peeling paint on the garage frame door and soffit. Under the terms of the [redacted] agreement $300.00 was set aside from other funds to be accessed for the completion of this repair by June 30, 2015. As the garage was destroyed by fire, those repairs are no longer the issue.
On March 5, 2015 RMS received the enclosed Statement of Loss from [redacted] to advise of fire damage to the garage for a loss in the amount of $31,203.40. RMS received checks in the amount of $25,872.00 and $665.29 for the repairs to the fire damage and a copy of the contract with [redacted] to complete the repair of the garage. Based on this, RMS issued $13,268.65 from the insurance checks for the repair of the garage to begin.
RMS has disbursed funds to Ms. [redacted] based on withdrawal requests she has submitted; however, this stopped after June 30, 2015 because the required repairs were not yet completed. Under the terms of the [redacted] reverse mortgage she was required to complete the repairs by June 30, 2015. Since the garage has been damaged in a fire, the required repairs have not been completed. The damage to the garage must be repaired. Once this damage is repaired, and an inspection of the repairs has established that the garage has been repaired according to the Insurance Adjuster’s Report, RMS can then issue the remainder of the insurance claim funds and will also be able to disburse withdrawal requests from the Line of Credit.
Once the repairs are completed, Ms. [redacted] must contact Loss Draft Administrator, Brittney P[redacted], at [redacted], extension [redacted] to schedule an inspection and to determine if any additional documentation is required to obtain the remaining insurance claim funds. She may also direct any questions regarding the process she may have to Ms. P[redacted].
July 18, 2014
[redacted]
[redacted]
[redacted]
Re: Loan Number: [redacted]
...
Property: [redacted]
[redacted]
Dear Ms. [redacted]:
Your Revdex.com inquiry was received by Reverse Mortgage Solutions, Inc. (RMS) on
July 8, 2014, and given to me for research and response.
The loan was referred for a Deed-In-Lieu (“DIL”) on March 17, 2014 by [redacted] RMS was processing the request and kept you abreast of the situation. RMS informed you on April 17, 2014 that the Affidavit of Heirship was sent to the Title Company for recording. RMS has located a Title Lender to insure the property and verified that the Title on the property is clear.
The Law Firm processing the DIL request informed RMS that [redacted] spoke with you on July 16, 2014, about the progression of the DIL and that debris was still in the property. One of the requirements of processing the DIL was that the property was broom swept. The DIL process should be completed within a couple of weeks. Should you have questions, you may contact RMS Deed-In-Lieu Specialist, [redacted] at ([redacted], extension [redacted].
Sincerely,
[redacted]
Executive Resolution Analyst
[redacted]
Revdex.com:This company HAS NOT AT ALL kept in contact with us EVER ! NOR did they EVER SEND the information and oayments made to US as they did here. NOT TO MENTION 100? lying telling you there waz ANY agreement made to repay. Because when I asked I WAS TOLD , NOT an option. I alsk have asked fkr YEARS to.speak to someone other than and in a higher position than the default department which I was told no one exists ! And I waz NOT TOLD about a repayment before the foreclosure sale , which they obviously are again playing a game because my mother is NOT legally responsible for her signature , and has nkt been for 4 years. Thats stated in the power of attorney they been sent , and faxed over 4 times. This company is telling ALL B.SAND I WILL NOT ALLOW THIER GAME to continue. I DEMAND PROOF OFwhatbTHEY claim they agreed to az repayment options ! Including the recorded call they refuse ANY repayment !!
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.
[Provide details of why you are not satisfied with this resolution.]
Regards,
Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on July 13, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse...
mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
• A borrower dies and the property is not the principal residence of at least one surviving borrower;
• All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
• The property ceases to be the principal residence of the last surviving borrower;
• The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
• An obligation of the borrower under the security instrument is not performed, which includes:
o Failure to maintain the property
o Failure to maintain continuous hazard insurance on the property
o Failure to pay property taxes
Below is a breakdown of all disbursements/repayments for property taxes and lender place hazard insurance at RMS:
Transaction Description Disburse/Check Date Disburse Amount
Lender Place Hazard Insurance 05/20/2013-14 08/29/2013 $1,275.00
Lender Place Hazard Insurance Refund 05/20/2013-14 09/27/2013 ($1,275.00)
Property Taxes Baltimore City 2013-14 04/28/2014 $1,155.42
Baltimore City Duplicate Bill Fee 04/29/2014 $3.00
Lender Place Hazard Insurance 05/20/2014-15 05/23/2014 $313.00
Partial Repayment 10/09/2014 ($82.00)
Partial Repayment 11/07/2014 ($82.00)
Partial Repayment 12/05/2014 ($81.00)
2014 Property Tax Attorney Fees 01/06/2015 $814.80
2014 Property Tax Attorney Fees Refund 01/08/2015 ($814.80)
Property Taxes Baltimore City 2014 01/21/2015 $5,447.57
2014 Property Tax Settlement Attorney Fee 01/21/2015 $2,624.80
Property Taxes Baltimore City Refund 03/23/2015 ($1,175.56)
Lender Place Hazard Insurance 03/20/2015-05/20/2015 03/24/2015 ($52.31)
Partial Repayment 04/21/2015 ($340.00)
Partial Repayment 05/11/2015 ($337.00)
Partial Repayment 06/15/2015 ($335.00)
Partial Repayment 06/18/2015 ($10.00)
Partial Repayment 07/21/2015 ($337.00)
Partial Repayment 09/17/2015 ($340.00)
Lender Place Hazard Insurance 09/10/2015-16 11/18/2015 $340.00
Partial Repayment 12/10/2015 ($340.00)
Refund 02/22/2016 ($191.37)
Refund 06/17/2016 ($148.63)
Lender Place Hazard Insurance 04/15/2016 06/20/2016 $352.00
Total $6,383.92
On April 23, 2015, you entered into a Repayment Plan Agreement (enclosed) with RMS for twenty four consecutive payments of $336.29 to total $8,070.92, with the first payment being due on April 25, 2015. As verified above, you did not make a payment in August, October, and November of 2015. Enclosed is the RMS Letter dated December 1, 2015, which indicated that the Repayment Plan Agreement you had entered into had been cancelled. Per HUD guidelines,
once a repayment plan is broken due to non-payment or there are disbursements for property taxes/hazard insurance occur, no future repayment plans may be entered into. At this time the total amount of $6,383.92 is due to reinstate the loan from foreclosure. You have up to the foreclosure sale date to satisfy the default amount of $6,383.92. A foreclosure sale date has not been set, so it is imperative that you stay in constant communication with RMS
The failure of payments was not due to the address change as the missing payments were prior to the December 7, 2015 move date from [redacted] to [redacted].
Should you have questions, you may contact Willie [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray [redacted]
Sr. Executive Resolution Analyst
(866) 799-7724
Enclosures: Repayment Plan Agreement
RMS Letter dated December 1, 2015
[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.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted] and find that this resolution would be satisfactory to me. I finally did get my money or at least most of it. The check was made out to me and the roofing company even though RMS had a copy of the receipt showing I had paid the roofing company in full so I had to make arrangements to meet the owner at his bank in order to get the check cashed. There was absolutely no need for this except to make things difficult for me.
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.
[Provide details of why you are not satisfied with this resolution.]
Regards,I was not made aware that I could make an additional draw as stated. In fact I protested the need for an inspection at my expense from the very first contact with RMS. I also protested their withholding half of the available funds. I was told "that is our procedure" and therefore having no alternative available and needing to get the roof repaired I did in fact pay out of pocket for the repairs. I did provide all of the requested forms as stated. The inspection was completed on August 25th and the inspector assured me RMS would have a copy the next morning. I still have not heard a word from them about releasing MY funds. As far as contacting [redacted] goes I have in fact tried on several occasions to do so and have only once gotten through to her and none of the voice mails I have left her were ever returned. This complaint will only be resolved to my satisfaction when my funds are released to me.
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.
[Provide details of why you are not satisfied with this resolution.]
Regards,The reasons that I do not accept in total the response from RMS iare:As RMS note I do respond to the annual occupancy as I had twice before the third notice was received. In that notice they indicate (as they did in the second) which I answered anyway was to disregard the notice if the occupancy statement had been sent. Since I was concerned I called RMS and was treated as collection agency's tend to do with a belligerent person who "wouldn't answer my question" unless I answered theirs first. I did indicate who I was, why I was calling, and the loan I was calling about. I would not answer other questions that were'nt pertinent to the matter at hand and they refused to help me. It wasn't until a supervisor I requested returned my call to let me know they didn't have the occupancy statement which I agreed to send immediately. Instead of waiting for the mail, they contacted my son which I asked them not to do any more.RMS indicated only in general that they were in certain circumstances they were required to notify that they were a collection agency but did not say whether this instance was one of those circumstances and under what FHA directive. I want to know that. There is no need to make anyone feel as though they were being threatened or made to feel "distressed".What if I hadn't followed up given their "Disregard if you returned the occupancy form". As far as I was concerned I had.Their mentality is not as a service agency, but a collection agency. I specifically asked about this when I signed the contract and was told that all I would get from them was a monthly statement. Not notices of possible foreclosure that aren't warranted. They need to change their way of doing business.[redacted]
Dear Mr. [redacted]
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on August 22, 2016, and provided it to me for research and response.
You are not authorized on this loan. In order to receive loan specific information, you must obtain a signed...
written authorization from the borrower. Once we receive this information, we will be able to address your concerns.
Should you have questions, you may contact RMS Customer Service Department during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at
(866) 503-5559.
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 503-5559
Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on March 18, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage...
(“HECM”) reverse mortgage governed by the U.S. Department of Housing and Urban Development (HUD). Under HECM terms the borrower is not required to make monthly payments. The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
A borrower dies and the property is not the principal residence of at least one surviving borrower;
All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
The property ceases to be the principal residence of the last surviving borrower;
The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
An obligation of the borrower under the security instrument is not performed, which includes:
Failure to maintain the property
Failure to maintain continuous hazard insurance on the property
Failure to pay property taxes
As stated above, you may stay in the property as long as all the above events are met. As you are aware, this loan is in foreclosure for failure to maintain hazard insurance. Below is the Repayment Plan agreed upon and broken:
· On October 23, 2015, you agreed to twenty seven consecutive monthly payments of $60.89 to satisfy a default amount of $1,644.00, with the first payment due on
October 26, 2015. RMS only received the October 2015 and November 2015 payments. There was also a disbursement of $1,186.00 to lender placed hazard insurance for the periods of March 15, 2016-17. Both of these events are considered as events to break the plan. After a plan is broken, HUD will no longer allow for another plan and the total default amount is due.
Below is all disbursements and repayments for lender placed hazard insurance:
Transaction Description
Disburse/Check Date
Disburse Amount
Lender Placed Hazard Insurance for 03/15/2014-15
05/15/2014
$808.00
Lender Placed Hazard Insurance for 03/15/2015-16
03/19/2015
$836.00
Partial Repayment
10/23/2015
($60.89)
Partial Repayment
11/18/2015
($60.89)
Lender Placed Hazard Insurance for 03/15/2016-17
03/17/2016
$1,186.00
Total
$2,708.22
Once again, it is your responsibility to maintain hazard insurance. Please contact RMS to set up payment arrangements to pay the total amount due of $2,708.22. You have up to the estimated foreclosure sale date of February 28, 2017 to satisfy this default amount.
RMS Legal Counsel has reviewed your allegations that HECM for Purchase Mortgages are not allowed in New Jersey. There are no statutes that do not allow for HECM for Purchase Mortgages. Please provide copies of said statutes if you are disputing the above information. If the HECM for Purchase Mortgage was not allowed, you would not have benefited from the purchase of a $200,000.00 property for $93,652.42. Enclosed is a copy of your HUD-1 Settlement Statement for your review, which breaks down contract sales price, settlement charges, property taxes owed, and the principal amount of the loan.
RMS will continue with foreclosure proceedings as we have followed all HUD regulations and all requirements in your loan agreement. RMS has provided you with all the information to make the necessary decision to proceed with a HECM for Purchase Mortgage and the qualifications to stay in the property. Enclosed is the HECM Counseling Certificate that verifies you were provided with all options available to you besides a HECM reverse mortgage.
Should you have questions, you may contact Willie [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
...⇄
Ray [redacted]
Sr. Execution Resolution Analyst
(866) 799-7724
Enclosures: HUD-1 Settlement Statement
HECM Counseling Certificate
Dear Mr. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on October 28, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse...
mortgage governed by the U.S. Department of Housing and Urban Development (HUD).
RMS received notification that Alexander [redacted] passed away on May 23, 2016. At that time, loan was called due and payable for death of the last surviving borrower. Enclosed is a copy of the Condolence Letter sent to the Estate of Alexander [redacted] with information to satisfy the loan. Below is the Creditor’s Rights:
If the Loan is not satisfied pursuant to one of the options set forth herein above under Options to Satisfy the Loan within thirty days from the date of this notice, we will begin the process of foreclosure of the Property.
HUD guidelines requires RMS to file first legal prior to the sixth month from the death date. In order to meet first legal, the loan is referred to foreclosure counsel three months prior to the six month deadline. First legal was filed on October 17, 2016. As stated above, RMS may begin
foreclosure proceedings after thirty days of notification of death. Below is HUD 24 CFR 206.125 Acquisition Sale of the Property (d) Initiation of foreclosure:
(1) The mortgagee shall commence foreclosure of the mortgage within six months of giving notice to the mortgagor that the mortgage is due and payable, or six months from the date of the mortgagor's death if appli[redacted], or within such additional time as may be approved by the Secretary.
Below are conversations/correspondence we had with you about the loan:
• On May 20, 2016, you indicated that you might be selling the house
• On May 27, 2016, you notified us of the death of Alexander [redacted] and we informed you of documents required such as Death Certificate, Will/Executorship documents, Letter of Intent.
• On June 22, 2016, advised that Executor documents, Letter of Intent, Death Certificate and payoff request was needed. Also advised that Listing Agreement was needed for first ninety day extension.
• On June 28, 2016, informed you that Executor documents, Letter of Intent, and Death Certificate were received. You informed that you did not have a Listing Agreement yet and also want authorization for your broker.
• On June 27, 2016, you informed us that Listing Agreement would be received by end of the month and a written request for an Appraisal is required.
• On August 11, 2016, RMS received a written request for a copy of an Appraisal. Appraisal was mailed to [redacted] address.
• On August 19, 2016, you contacted RMS on status of copy of Appraisal and your mailing address was updated.
• On August 30, 2016, you contacted RMS on status of copy of Appraisal.
• On September 7, 2016, returned mail was received with copy of Appraisal.
• On September 10, 2016, you received a copy of the Appraisal.
• On October 3, 2016, we advised you to send in Listing Agreement as time is of the essences. You stated that the property would be on the market by October 15, 2016.
• On October 3, 2016 – Received Listing Agreement at Customer Service Email address.
• On October 6, 2016 – Forwarded to Marketing Extensions, Foreclosure Sale Date Email addresses.
• On October 14, 2016, we advised you that Listing Agreement was received and was under review. Also advised that Payoff request should be in writing.
• On October 17, 2016, First Legal Filed.
• On October 18, 2016, Foreclosure Sale Date set for November 22, 2016.
• On October 21, 2016, we informed you that foreclosure had begun and the Listing Agreement was sent late.
• On October 27, 2016, RMS advised you that proof of funds was needed for a postponement prior to foreclosure sale date.
RMS did send a copy of the Appraisal to the address on file and it was returned as undeliverable. Your mailing address was not updated until after we initially sent the copy of the Appraisal.
As indicated in the timeline listed above, you were made fully aware of what was required for extensions. There is no automatic six month extension as indicated by the HUD guidelines provided and a ninety day marketing extension has to be approved by HUD. RMS received the Listing Agreement eleven days prior to First Legal being filed. This was not enough time to process and request approval from HUD for a marketing extension.
RMS has stopped foreclosure proceedings and have extended the foreclosure sale date to
January 4, 2017. You have up to that date to sell the property. It is imperative that you stay in constant communication with RMS as to the status of the sale of the property. If you require a Payoff Statement, please request in writing.
Should you have questions, you may contact Ana [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 799-7724
As stated in my prior response, it is necessary for a** parties that have or may have an interest in [redacted], [redacted] property to be named in the forec*osure action in order to c*ear tit*e. This action is a**owed under Ok*ahoma *aw and is necessary to ensure that Ms. F[redacted] or any other heirs of Mr. [redacted] cannot exercise any c*aim to the property after the forec*osure action is comp*eted. P*ease re-review the *ast paragraph of the prior response wherein it indicates that there are no credit bureau fi*ings made for reverse mortgages.
Ms. F[redacted] may have *ega* options to remove her interest in the property. A *oca* attorney fami*iar with rights of succession may be ab*e to he*p her to determine the best course of action. Shou*d you have questions, you may contact the *aw firm of Baer, Timber*ake, Cou*son, & Cates, P.C. at [redacted].
Dear Mr. [redacted],
Enclosed is a RMS Letter dated February 5, 2015, which indicates you will receive $3,000.00 once the documents conveying the property to the mortgage holder are recorded in the pertinent land records.
Should you have questions, you may contact RMS Default Manager,...
Andrea [redacted] at [redacted], extension [redacted].
Sincerely,
Ray G[redacted]
Executive Resolution Analyst