What in the H$ll is a "Fax Fee"

[a2kman]

Ok, today I recieved an updated statement from chase with the following:

Fax Fee: $999.XX
Fax Fee: $524.XX
Fax Fee: $020.XX

So let me get this right are they saying that everytime I send a fax I have a fee of XXX.XX

Truly confused has anyone else ever seen this. please note these fees add upto almost $1,600.00 in "FAX FEES"

[art4ari]

geez! how many pages did you send??? doesnt make sense!

[a2kman]

With everything they have asked for over and over I have probably sent 300 pages via fax.

[art4ari]

i thought the fax system was electronic saved in PDF and print out accordingly. I didnt know it was a regular recieving fax machine. I read some people sending pages over and over. Its something for everybody else to consider regular mail instead.

[peggyinfl]

Sound like a loop hole Chase is going to be using to charge for their crappy service. I thought the Gov. stated that their was no charge to Mod. Unbelievable how these Banks try to get away with everything they are doing considering we are all in this mess because of these greedy banks.

[a2kman]

In all honesty chase = fee fee fee ... now they take your home which in turn = raised foundation = sawzall === oopppsss ... enjoy chase ... I want to keep my home and will do everything in my power to pay you ... not asking for the world just put me in a fixed loan

[SillyWorld]

It does not cost for a FAX they have unlimited phone service....Jeez

[so-cal-gal]

Originally Posted by a2kman

Ok, today I recieved an updated statement from chase with the following:

Fax Fee: $999.XX
Fax Fee: $524.XX
Fax Fee: $020.XX

So let me get this right are they saying that everytime I send a fax I have a fee of XXX.XX

Truly confused has anyone else ever seen this. please note these fees add upto almost $1,600.00 in "FAX FEES"

Do you think that just MAYBE there is a LOCAL tv station with an investigative reporter who will have a HOOT airing this one?

Some other items that were really quirky with loan modifications have managed to get onto local stations with large markets and this one is something that CHASE can REALLY be PROUD to have AIRED!

For the prize in the "outlandish fees for mundane services" category, I have to nominate CHASE!

[ohhhdear]

Originally Posted by so-cal-gal

Do you think that just MAYBE there is a LOCAL tv station with an investigative reporter who will have a HOOT airing this one?

Some other items that were really quirky with loan modifications have managed to get onto local stations with large markets and this one is something that CHASE can REALLY be PROUD to have AIRED!

For the prize in the "outlandish fees for mundane services" category, I have to nominate CHASE!

This is crazy!
Florida law appears to forbid charging fees UNLESS there is a material benefit to the borrower:

494.00296 Loan modification.--
¹(1) PROHIBITED ACTS.--When offering or providing loan modification services, a mortgage broker, mortgage brokerage business, mortgage lender, or correspondent mortgage lender licensed, or required to be licensed, under ss. 494.001-494.0077 may not:


(a) Engage in or initiate loan modification services without first executing a written agreement for loan modification services with the borrower;



(b) Execute a loan modification without the consent of the borrower after the borrower is made aware of each modified term; or



(c) Solicit, charge, receive, or attempt to collect or secure payment, directly or indirectly, for loan modification services before completing or performing all services included in the agreement for loan modification services. A fee may be charged only if the loan modification results in a material benefit to the borrower. The commission may adopt rules to provide guidance on what constitutes a material benefit to the borrower.





Statutes & Constitution :View Statutes :->2009->Ch0494->Section 00296 : Online Sunshine

[caldwellb02]

a2Kman - what state are you in?

Y'know, this fax fee may be one of the openings we've been looking for - I mean, I know of no other case in my life where the fee is rendered by the RECEIVER of the fax. This could be a media marvel. I can see that this is illegal in FL for sure, but it's gotta be illegal in other states. This is the first I've ever heard of this. You had better believe that if this happened to me I would be letting EVERYONE know.

[a2kman]

Well, today I have been doing some searching the net for information on this "Fax Fee", from what I can tell this is a fee that is charged during the process of re-financing a loan. I personally don't see how this would be my case simply because I am after a permanent mod not a refinance.

You can bet your bottom dollar that tomorrow morning I will be calling chase to try and get some answers (not that I actually expect to get a straight answer).

[caldwellb02]

a2kman - I want to hear what you learn! I've just been trying to find out california law (since that is where I am) regarding such fees, but I'm not asking the search engine the right questions cuz I'm not getting answers!

That's an incredible amount of money! I just don't see how it is legal or right. Good luck.

[snapple candy]

I can only imagine that this is an "administrative" handling fee. Its pretty obvious to most of us that the whole faxing thing is operated real effectively.
Maybe they need to hire some people whos only job is to process all of our faxes and thats what these fees include. Its makes up for the govts restriction on late fees being applied to modification

[so-cal-gal]

Originally Posted by snapple candy

I can only imagine that this is an "administrative" handling fee. Its pretty obvious to most of us that the whole faxing thing is operated real effectively.
Maybe they need to hire some people whos only job is to process all of our faxes and thats what these fees include. Its makes up for the govts restriction on late fees being applied to modification

You were not SERIOUS with this, right?

This had to be just some very DRY humor, right candy?

This person is being charged a fee he NEVER agreed to. Where did they notifiy ANYONE of this fee?

WHERE was the DISCLOSURE of this FEE? It is grounds to SUE or put in a claim for reimbursement. This might be one you could file in small claims court. Also, I don't believe they can institute such a fee for this type of 'service'.

[snapple candy]

Yes, it was my dry humor, sarcasm coming thru.

What I meant was, all these months of dragging their feet, they (lenders attorneys) have figured out a creative way (loophole) to charge us for the administration of the loan modification.....something to make up for the NO LATE FEE part of the mod guidelines.

As for the effectiveness of the whole faxing thing. Again more of my sarcasm. Its common we have to refax our paperwork to our lenders multiple times. Its a bit of joke that we have had to accept this for "business as usual".

I am sure curious how the lender is going to explain how and why these fax fees are being applied.

[so-cal-gal]

I wonder how Chase passes any of the fax fees to either NACA or HOPE when they fax materials to Chase. NACA and HOPE should be the ones getting the notification of the fees if they are working for you, right? Just like they get all other communication from the lender/servicer.

Wonder if Chase has tried sending any of the HUD-backed negotiating groups these charges? IF not, WHY NOT them TOO?

[caldwellb02]

a2kman - what kind of "updated statement" did you receive? Was it on your mortgage statement?

[a2kman]

Originally Posted by caldwellb02

a2kman - what kind of "updated statement" did you receive? Was it on your mortgage statement?

It was on my mortgage statement for the October, I went back and check the previous ones while being on the trial program and this was the first to have these fees. The other thing that was wierd is normally I have my statement by the 5th of the month and this one just came yesterday.

[caldwellb02]

wow. Haven't gotten my statement for October yet. I'm not on any trial mod, but I've certainly faxed hundreds of pages over.... we all need to keep an eye on our statements!

[so-cal-gal]

Looks like a copy of that bill needs to go to that Freddie Mac guy who is monitoring compliance.

If those charges are any borometer of the reams of pages that people are required to submit, I would have to believe the Freddie Mac guy should just about croak on the bill.

[Actually, I wonder if some wise guy at Chase thought that everything that came in for a day or a week was all from one person, our unlucky member here?]

[so-cal-gal]

Oh, I know what it was, they needed funds to order more cases of paper, so they drafted a bill on this guy's account to pay for a couple of orders of copier paper.

[caldwellb02]

I've simply got to know if this is legal. If it is, I am going to refuse to use faxes, and will insist on e-mail addresses so I can scan and pdf the docs from now on.

I can't imagine how it CAN be legal. Many people have to pay to fax things in the first place (kinkos and the like). Having a fee on the other side is criminal. Or it should be.

[so-cal-gal]

Originally Posted by caldwellb02

I've simply got to know if this is legal. If it is, I am going to refuse to use faxes, and will insist on e-mail addresses so I can scan and pdf the docs from now on.

I can't imagine how it CAN be legal. Many people have to pay to fax things in the first place (kinkos and the like). Having a fee on the other side is criminal. Or it should be.

Given that the lenders NEVER provided any list of charges for use of fax or email service to deliver documents TO them, they are instituting an ILLEGAL charge.

If they can charge you for usage of their fax machine, they can charge you for each email. they could try to justify a handling fee to process the modification, oh, yeah, the feds told them they could not.....

Next aside from charging to use the fax, will be an email charge and a phone contact charge. Let's see the banks like to charge a $9.00 fee or higher to process a phone PAYMENT, so to talk to a 'home retention idiot', I mean representative, will cost what, $9.00 per call?

They don't want to spend any of that lovely TARP money and all this mod processing that they want to keep people doing over and over is starting to cost them a little, so they have to find a new raft of fees since they are not allowed an actual loan modification fee.

I firmly believe ALL such charges are ILLEGAL. The purpose of these contacts is to supply the info needed to process a loan modification. That has already been flagged as a function the lenders are NOT allowed to charge for. The contacts necessary to advance the modification should NOT have charges instituted. These are capricous and unjustifiable charges that are just an attempt to do an 'end-around' on the no charge for a mod rule.

[ManicMangaManiac]

GOOD GOD ALMIGHTY!!! This sort of stuff is totally asinine! Consumer Warning Network has run a series of articles on this very issue about how lenders and servicers are finding creative ways to nickel and dime us into poverty. Consider this also: think about how many thousands of trees were sacrificed every time a borrower had to send fax after fax after fax after fax after fax to these stupid knuckleheads.

This sort of thing is not only a monumental waste of time on the borrower's part with unimaginable stress going along with it, but it's also VERY BAD for the environment! So much for the "going green" movement... except the green in their case is from all the dollars they're raking in from us poor suffering slobs!
Sally

[a2kman]

The Skinny ...

It seems as though these fees are charged by underwriting and it isn't truly a "Fax Fee" but a processing fee, they have completed the review of my file and have approved the final mod. I now need to send final updated docs so that closing can verify that my status hasn't changed.

I did inquire on the fact that the Obama plan doesn't allow for fees but, because I am not a freddy or fanny loan this was a Chase mod and they can charge fees for final closing just like any other closing scenario OK fine just finish my permanent mod :-).