Old 11-29-2008, 05:34 PM   #1 (permalink)
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Respa

Hi ,
Can anyone tell me what the consequences are if your mortgage company does not respond in the 20 business day timeframe when you sent a QWR? I sent mine to WAMU on Oct 13th and have no heard from them.

Thanks

Lisa


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Old 11-29-2008, 06:59 PM   #2 (permalink)
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Re: Respa

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Old 03-11-2009, 12:42 PM   #3 (permalink)
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Re: Respa

I'm a newbie on this forum, but my reseach states the following, from HUD esc section 2605 - servicing of mortgage loans and administration of escrow accounts:

(f) Damages and costs
Whoever fails to comply with any provision of this section shall be liable to the borrower for each such failure in the following amounts:

(1)Individuals - in the case of any action by an individual, an amount equal to the sum of-
(A)any actual damages to the borrower as a result of the failure; and
(B)any additional damages, as the court may allow, in the case of pattern or practice of noncompliance with the requirements of this section, in an amount not to exceed $1,000.

....Then describes class action amounts in paragraph 2, ....

(3)Costs - In addition to the amounts under paragraph (1) or (2), in the case of any succesful action under this section, together with any attorneys fees incurred in the connection with such action as the court may determine to be reasonable under the circumstance.


That is what I found anyways. Hope it helps, but keep in mind that there are other descriptions like paragraph 4 that highlights of Nonliability.
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