Focus Professionals, Inc Real Estate Blog

An amazing development has just transpired with a client for whom we are working to reinstate his mortgage after it went delinquent for 15 MONTHS… After faxing authorizations for the lender to discuss the loan with us 5 Times, after spending 2 hours on the phone with the lender last week, ordering a reinstatement quote, we followed up today. The client has sent a check for the amount requested by the lender… some $30,000… they have received the check, but not allocated it to his account. On our follow up call, it seems that the authorizations we sent 5 times, was never received, and there is no record of our previous 2 hour discussion with them… How can that be?

They have not yet ordered the reinstatement quote.

They have no record of our previous conversations.

The do not have the authorizations we faxed repeatedly.

They have a record of receiving the $30K check, and, it seems, a record of receiving a regular payment in an amount not ever previously required or invoiced.

The client has not received a statement on the account for more than a year and the lender refused to provide any.

The law firm dealing with the foreclosure process swears by the almighty that they ordered the reinstatement quote, and of course has the authorizations we sent to them as well as to the bank.

So, as of today, after money has been sent, faxes and phone conversations have taken place, we are back at ground zero.

Can you guess which major lender we are talking about here?

I give you a hint: They purchased the previous loan holder, back when that firm was going under… and since that purchase, the client has never received a statement.

Drum role please… 5 letters…

It amazes me that this bank could remain in business doing business the way they are.