Anyone had Wilshire loan transferred to BOA story

**carjacx** · 03-30-2010, 10:40 AM

Had my trial payments for modification transferred at end of 3 month period to BOA and still have no updated information on-line. Has anyone been sucessful with dealing with BOA since the transfer? Is so, how and when?

**Evan Bedard** · 03-30-2010, 11:28 AM

Many people have had their loans sold in the middle of working out a modification. This has become a major problem because many times the new servicer will not honor the agreement you had in place with Wilshire..

**marie1976** · 03-30-2010, 12:57 PM

My loan was with Wilshire and transferred to BOA effective 3/1/10. However my HAMP mod was completed about 2 weeks prior to the transfer. The issue I am having with BOA now is that they have the incorrect payment amount. They show a payment of about $5 more than what my SIGNED loan mod states.

Granted it's only $5 but it's my 5 bucks! I have had nothing but headaches from these people. I have faxed my signed mod agreement about 3 times to get this corrected. Everytime I call the customer service dept, they have no clue. They are complete IDIOTS!!

I have to be honest, I had no trouble with Wilshire in regards to getting my mod done. It took about 4 months, but everytime I called their customer service they always knew what was going on and very helpful. I only sent them my paperwork ONCE. Sorry for the rant...

**GottaMakeThisWork** · 03-30-2010, 02:57 PM

Originally Posted by marie1976

My loan was with Wilshire and transferred to BOA effective 3/1/10. However my HAMP mod was completed about 2 weeks prior to the transfer. The issue I am having with BOA now is that they have the incorrect payment amount. They show a payment of about $5 more than what my SIGNED loan mod states.

Granted it's only $5 but it's my 5 bucks! I have had nothing but headaches from these people. I have faxed my signed mod agreement about 3 times to get this corrected. Everytime I call the customer service dept, they have no clue. They are complete IDIOTS!!

I have to be honest, I had no trouble with Wilshire in regards to getting my mod done. It took about 4 months, but everytime I called their customer service they always knew what was going on and very helpful. I only sent them my paperwork ONCE. Sorry for the rant...

I had my loan transferred as of 3/1/10 as well. I think by the 8th of Mar they had my loan in their system. But my modification pkg had not even been worked on at Wilshire. When I questioned BofA about the mod, they *claimed* that my mod is scheduled for completion 4/20. I know, I know, don't laugh that's just what they told me

. I'm just going by what they said.

As for Wilshire, oh god I absolutely hated dealing with Wilshire. I just had a long bad experience with them because I always felt like when you called them, they treated you like stole something by asking about 50 questions of verification from you. I would cut them off after about the 10th verification and tell them enough of that and that I needed a question answered. It worked every time for me

, but that didn't stop me from being aggravated with them.

**Studio_Medic** · 03-30-2010, 02:59 PM

I am living the same nightmare! I had a modification through Wilshire since 2/2008. It was a 3 yr mod that will revert back to an ARM in 2/2011. However BOfA REFUSES to abide by my mod, increasing my mortage payment by $188.00/month!!!!!

Long story short........Wilshire sold my loan to BOA effective March 1st....Well I paid my Feb payment to Wilshire via cashier's check and FED EX it on March3rd since BOA would not take my payment...I made March's payment online to BOA on March 12th (the earliest they would accept my payment) Well BOA takes March's payment and applies it to February's payment even though I faxed them, called them and advised them that Feb payment had already been paid......They said that once THEY receive the payment from Wilshire they would credit my account. Wilshire finally sends the payment to BOA on 3/26/10.....However BOA REFUSES to apply the $1118.63 to my account they said it is being held because I still owe for March!! They said that instead of owing $808.00 (w/o escrow) I actually owe $996.00. When I called to inquire why the rate change from $808.00 on 3/17/10 to $996.00 on 3/18/10 they said it was because I have an ARM and it was time for it to adjust. I was never notified prior!!

I explained to them the I had a fixed rate "mod" at 7.5% and that the mod was valid until 3/01/11...The village idiot asked "Do you have proof"??? Today after spending 2.5 hours on the phone with them NONE of the reps could find my loan mod papers from Wilshire and basically said that I was lying and making it up! I faxed them the loan mod papers from Wilshire, but mysteriously they haven't received anything......I was told that either I make the full payment of $1244.00(with escrow) TODAY instead of $1060.00 or I would go into default!! I asked what about the money that is sitting in "suspense" the rep said it will remain their unless I pay the difference to make the payment current.They also said that I MUST make the payment for April for the NEW amount and they WILL NOT accept the original payment...PERIOD!

They said they WILL NOT adjust my payment back to my contracted fixed rate since there is NO proof of me ever having a mod through Wilshire, even though I have all the documentation, but because it was not transferred to them from Wilshire my paperwork is invalid...The $1244.00 is my new rate and I must deal with or I can refuse to pay........and it will adjust again in 6 months and so on...I can't believe that they could do this, but they did.........

The rep then transferred me to their "home modification dept" located in Bangladesh to see if they could assist me with another mod! The rep said that I DO NOT qualify for any of their home mod programs( because I am current with my payments and not in imminent default) nor do I qualify for a refi.......So with that said I give up. The stress of dealing with all of this is taking a toll on my marriage, my health, my job etc..........It's not worth it! I can't fight anymore........

So if anyone wants a good deal on some windows, doors, electrical outlets, bathroom cabinets, vinyl fencing, 18' above ground pool etc..Let me know...

**carjacx** · 03-30-2010, 04:02 PM

marie1976 was that a permanent modification completed by Wilshire? Did BOA have all your info on-line right away or did you call, and if so who?? My trial modification was completed 2/09 then transferred to BOA still no permanent nothing!!

Wilshire did my trial modification I thought smoothly, BUT after 3rd trial payment, 2 weeks before transfer to BOA, need updated financials sent to them because they were over 60 days old, duh!! Now BOA knows nothing!! Going on 5th trial payment and in their system it shows I have not made a payment since Sept. 09 and it is the original ARM esclated payment...aaaahhhh

**marie1976** · 03-30-2010, 07:03 PM

carjacx,

I had completed my trial payments as of Dec 2009 and made 2 extra trial payments for Jan & Feb 2010. The first week of Feb. I received my permanent paperwork and I signed, notorized and sent back via FedEx.

I received those same documents back via regular mail signed by Wilshire on Feb.12th. My loan was sold to BOA effective 3/1/10.

When I check my account online with BOA everything is correct (interest rate, escrow, etc) except my payment is more than what is on my modification paperwork.

Is BOA showing all your trial payments at all???