Taylor, Bean & Whitaker Nightmare

[Noobster]

A warning...this is long....

My husband and I were desperate to refinance our 2/28 ARM Mortgage that had a climbing interest rate of almost 12% since December of 2007. We had been struggeling to maintain the payments for 7 months when we contacted a local Broker who informed us that he would be the only person that would be able to help us. He refinanced (FHA Refinance) us through Taylor, Bean Whitaker out of Ocala, FL and we closed on the refinance in June of 2008. It's been a nightmare ever since.
In July my husband was informed that his hours would be cut at work due to working in the deteriorating automotive industry. I myself have always been a stay at home mom and have little to no work experience. We have 3 daughters ages 18, 12 and 11.
Our first payment was due on August 1st , 2008. When we contacted Taylor, Bean & Whitaker we were told that they could not help us unless we were at least a couple of months behind. When we were 2 months behind they accepted a one month payment from us in October 2008 and applied it to our account. We were then told that they would not accept just one payment and that it would be sent back to us from now on. We were informed the only amount they would then accept would be the whole amount past due. We informed them that we couldn't come up with the whole amount at once with my husbands decreased income.
In November 2008 my husband and I agreed to a repayment plan with Taylor, Bean & Whitaker (TB&W). We sent them a payment of 963.00 for the downpayment to start the repayment plan which would pay the 3 payments we were then past due over the course of several months to keep us from going into foreclosure.
We discussed the reason for us getting behind as my husbands hours were cut at his place of work and I was not employed.
About a week or so later we received a call from TB&W asking us for another 900.00 payment because a mistake had been made on their part with the repayment plan.
We advised them that we did not have another 900.00 as we had just paid them 963.00 a week before and the csr for TB&W said that due to us not paying another 900.00 they could not go through with the repayment plan and that we would not qualify for another repayment plan. We were told that we could not make a payment on the account unless it was the full 3 months worth of payments that was due on the account.
In January of 2009 I called Hope Now and discussed our situation with them. One of their representatives stayed on the line with myself and TB&W and talked with the csr at the time about my account. The csr was very short and didn't want to answer any of my questions. She literally told me that her time with me was up and that she had to move on to the next phone call. I was on the phone with that specific csr for less than 10 minutes. The lady from Hope Now and myself were completely taken back by this csr's rudeness and the fact that she practically hung up on us.
I also contacted another company to help us and they contacted TB&W on our behalf after fighting with them to give the other company permission to talk to them about my account on my behalf. I received a phone call back from the company stating that TB&W had agreed to a modification of our loan and that TB&W would be contacting me. After speaking with this company I called TB&W back and was told that no modification would be made to our loan because we hadn't been with them for a year yet....yet notes had been made on the account that a modification agreement was made on our behalf through the company I gave permission to. No modifcation was made on our account. We were still behind and were told not to make a payment unless it was the full amount due to get the acccount current. Now 4 months behind.
On January 22nd, 2009 I called TB&W again and spoke to Ashley Cook. She advised me to fax her "hardship papers" in which I had to explain our situation and list our income and expenses to her...which I did that day. She told me that she had a friend in the Loss Mitigation Dept and that her friend told her that we qualified for the FHA Partial Claim and that because she had a friend in that dept she would get it through faster for us to avoid us going into foreclosure. She also stated that the foreclosure process could be stalled while waiting for a response from the Negotiator. She offered no other solution to our issue at that time. She advised me to call her back every couple of days to check on the status of the FHA Partial Claim.
I called Ashley Cook several times a week from January 2009 through March 2009 and was told over and over that it was being looked into. She even claimed to email several people to check on it...but never gave me any information on the responses to those emails.
In March I called TB&W's Loss Mitigation phone number to inquire about the FHA Partial Claim when I could not get in touch with Ashley Cook. After speaking to the csr and not getting answers I asked to speak to the Supervisor. While speaking to the Supervisor it was found that the paperwork (hardship papers) were not processed correctly and not been assigned to a Negotiator. I was told then by the Supervisor that she would process them correctly and get them to the proper people. The Supervisor called me back the next day and told me that our case had been assigned to Gayle Carter, but that I would now have to wait another 6 to 12 weeks after waiting 8 weeks because they had not been processed correctly.
I have only been offered to be transferred to Gayle Carters voice mail once even though I've inquired about her and our paperwork on several occassions. I did leave a message with all of my account information and a number for her to call back. I still have not recieved a return call from Gayle Carter as of April 30th 2009.
I called TB&W back yet again on March 26th to inquire about our account and the status of the FHA Partial Claim. The csr apparently didn't want to talk to me about the account and transfered me to Ashley Cook who I had not spoke with for a while due to not being able to get in touch with her and her not returning messages left for her via voice mail.
At this point Ashley Cook got very short with me and started saying that she advised us of processes that she never advised us of. She never advised me until the end of February that it takes 6 weeks for a Negotiator to get assigned to look at our hardship papers. In fact..she encouraged me to call her several times a week to check on it back in January. She also said that she offered us a repayment arrangement in January...which she never did. Had a repayment plan been offered in January we would have jumped on it because it would have solved all our problems. The only thing she offered in January was for us to fax her the hardship papers so that we could take advantage of the FHA Partial Claim which she assured us that we quailified for...in which she didn't even process correctly. It's been 14 weeks as of April 30th 2009 and we have heard no word of anything about the Partial Claim, nor have we heard from Gayle Carter who they claim has been assigned as the Negotiator.
That same day we were notified by the csr at TB&W that we were now in Forclosure as of March 19th 2009. We had not received any notice from TB&W at this point.
When I expressed my surprise to Ashley Cook about this she then offered a repayment plan and said that one had been available to us since January when I sent her the paperwork. She never offered us a repayment plan before...only the hardship papers. In fact we were told by the csr that voided the repayment plan in December that we were not eligible for another repayment plan and I advised Ashley Cook of this on January 22nd 2009. The first time I spoke with her. She never offered us a repayment plan in the 3 months and over 30 calls I had made to her since January 22nd 2009.
I advised Ashely Cook that my husbands income was different than what was on the original hardship papers because I thought it would make a difference in working out the repayment plan. My husbands income had decreased yet again since we submitted our income information. Ashley Cook did not take any new information from me. She worked out a repayment plan based on a higher income than my husband was actually making.
We agreed to the repayment plan with Ashley Cook (to avoid foreclosure) in which we would pay 1200.00 by March 31st 2009 and over the course of the next 24 months our payment would be 1000.00 each month due on the 20th of each month starting April 20th 2009. I expressed my concern with the fact that we only had 5 days to get the $1200 to them and we were having difficulty making an $800 payment and now our payment will be $200 more and that I wasn't sure how long we would be able to handle it. Ashley Cook didn't seem to want to hear my concerns at this point.
Ahsley assured us that this would take us out of Foreclosure and that she would call the Attorney and have it halted so it wouldn't be filed with the court.
My husband and I signed the papers that were sent to us and I obtained a cashiers check for the agreed upon amount of 1200.00 and sent them USPS next day air on March 30th 2009. According to the USPS they would be delivered to the Ocala, FL office att to Odessa Braitworthe on March 31st 2009 by 3:00 p.m. I called Ashely Cook on March 30th and let her know that I had sent the paperwork and cashiers check and that I had next day mailed them.
We recieved papers from T,B&W's Attorney's on April 3rd and I called them to inform them that they should have received a call from Ashley Cook with Taylor, Bean & Whitaker because of the repayment plan we had agreed to. They told me that they had not been contacted by anyone from T,B&W about halting the foreclosure and said it would proceed until they were notified.
On April 7th we were served with Foreclosure Documents from our local courthouse by 2 deputies. The Foreclosure was filed in our local court house that day. My husband called TB&W that day and spoke to Adam. Adam stated that the paperwork and cashiers check had not applied to our account that the repayment plan was "pending" on our account. He did check the tracking number we gave him from the USPS online and confirmed the delivery but had no clue as to why it wasn't being applied to our account.
On April 8th I called TB&W and talked to Susie Black who told us that there was no record of them receiving the paper work or cashier check for 1200.00 for the repayment plan. She said that she would look into it and gave the information to her Supervisor as well and had me email her Supervisor a copy of our hardship papers that I sent to Ashely Cook on January 22nd. 2009. I advised her that we were concerned with the fact that we were still considered in Foreclosure and the repayment plan was still considered pending when the paper work and check had been in their office since March 31st. She stated that it was odd that these things had not been taken care of and that she does the s.w.a.t. repayment plans and when she does them she makes sure that the the account is taken care of while on the phone with the customer...ei...calling the Attorney to make sure they don't file foreclosure with court. She says that is the normal procedure. She stated that she would call me back with an update. I never recieved a call back from Susie Black.
We hadn't heard from anyone about the paperwork or cashiers check by April 14th so I called TB&W back on April 14th and got a csr that said she could do nothing for me and that the reason the paperwork and cashiers check hadn't applied to our account was something that I myself needed to figure out. I gave her the USPS tracking number for the paperwork and cashiers check and she said that it was not a valid searchable tracking number and said she couldn't do anything for me.
After getting off of the phone with that csr my husband tracked the USPS tracking number and the paperwork and cashiers check WAS delivered to the Ocala, FL office on March 31st 2009 at 12:30 p.m. and it was signed for by Tami Dunfee according to the USPS web site and tracking number.
I called TB&W back and reached a male csr and I gave him the information that I had on the delivery status for the paper work and check. I asked him how we could figure out why the items had been delivered but no notes have been made on my account and what we agreed to has not been done. He told me there was nothing he could do for me other than transfer me to his Supervisors(Amanda McNeal) voice mail in which he did and I did leave a message. I have yet to recieve a call back from that Supervisor.
On Aril 15th I called TB&W again and spoke to Susie Black. She informed me that there was still no record of the paperwork or check on our account. At this point the items have been in the office for 15 days and none of it has applied to our account. She stated that it was odd and she had never come accross anything like it before.
She said she made a note on the account about the name of the person that signed for the paperwork and check (Tami Dunfee) and she would have her Supervisor look into it.
She also stated that she would be contacting Alita...one of the ladies that recieved the payments for repayment plans and she would be contacting me after she talked to her.
She also went over the repayment plan details and was confused as to how Ashley Cook was actually able to qualify us for the repayment plan because when she put everything together...we did not qualify for the repayment plan.
Susie stated that our account seems to have been "messed up" on several occassions.
She assured me that if given permission she would get the account fixed herself since it should have been fixed on the day that Ashley Cook set the repayment plan in place.
Still waiting on response to Suzie talking to Supervisors and Alita.
I called Susie Blacks extension number at TB&W at 7:53 p.m. on April 15th because it had been several hours since she told me she would call me back. I left a voice mail asking why she didn't call me back and letting her know that I would like a call back so we can get the status of our account resolved. Around an hour later I received an email from Susie Black via her "taylorbean" email address which was rather odd. Her response to my voice mail didn't match my question at all...and each email I've received from her since has been the same response...which has nothing to do with my question.
As of April 30th our repayment plan is still in a pending status. We are still considered in Foreclosure (even though as of March 26th 2009 it was supposed to be canceled) and the $1200 we sent them has not been applied to our account. I have checked our account online through the Taylor, Bean & Whitaker website to keep track of payments to our account and nothing has been applied.
They have had everything we sent them for 31 days and nothing has been done.
We have done everything they have asked since November of 2008 and they have either went back on their word or just outright stole our money. They have literally made it impossible for us to save our home.
We are baffled by the fact that they are allowed to do this and have no idea what our next step should be.

[tanja53]

What state are you in?

[Noobster]

We are in Indiana.
Checked account again today...money still not applied to our account. We did seek out a lawyer to file an extension for the Foreclosure and it was granted until the end of this month....but he isn't familiar with real estate and mortgage so we are still unsure of where to go from here.

[tanja53]

Ok. I am in California and have (had) huge problems with TB&W,
I have a laywer who is taking care of my issues with them.
I have a lawsuites against them.
They denied and lied throw teeth about everything that had to do with my mortage.
Said that I had never talked to them ?
I have a load of paper work with dates and names.
Thery even forclosed on me in dec. with false paper work. Plus that i had a lawyer. They ignored him and went behind his back.
I am still in my home waiting for a court date.

So your story doesnt suprise me at all.
It is so sad and very scary that people can treat other people like this.

[Noobster]

I would like to also add that on March 26th when we made the repayment arrangements Ashely Cook from T,B&W claimed to call the Attorney's that had been assigned in our state for the Foreclosure to see how much they were charging for their services so she could add that amount to the repayment plan. When she called me back she told me that everything was taken care of.....apparently not.

[Noobster]

Doesn't surprise me either....I've seen hundreds of posts around the www from people that are having similar issues with T,B&W. I have contacted quite a few of them and one woman in particular said something about needing to file a "joiner federal suit". I have no idea what that is..and can find no information on it.
I know that in order to file a class action lawsuit we would need at least 200 people since the issues aren't contained in just one state....but so many people are too scared to go up against them.
We are not scared to go up against them....we just need to find the right person to help us.

[tanja53]

Have tried to have your cashiers check's acct.# traced to see if you could find info on the check itself and try to have the USPS check into the person who signed it and reverify the signature again and ask them to question receivership of the contents and then get all that info back and what you already had .Send all that back to TBW Certifed with Signature and see.

[tanja53]

My attorney has said the same thing about a federal lawsuite.
Have to think more about that one.

I am also told by my atorney that TBW is getting known for being dishonest and not caring.

[tanja53]

It is when a lot of people have problems with one company.
They all go together ina law suite.
The more people the better for the people.
Worse for the company, in this case TBW.

[Noobster]

We are just trying to get something done before our time is up...and we don't even know when that's going to be.

Apparently the issues with T,B&W go farther than I thought.

[Noobster]

Update: May 4th 2009

Called TB&W today to check on status of $1200 cashiers check and repayment plan papers that they have now had for over 5 weeks and claim to not have. Was on hold for 1 hour and 25 minutes before someone picked up.
After reviewing a few things a man name Adam told me that the paperwork and cashiers check had indeed been delivered to the Ocala office...and physically handled by 2 seperate people who admit to having seen it...and even though one claims to have given it to Oddessa Braitworthe herself....Ms. Braitworthe claims to not have it...and doesn't know where it is.

He also stated that a note on my account says a lady by the name of Alita claims to have called me and advised me to put a stop payment on the cashier check. NOBODY from TB&W has contacted me about this in any way shape or form. Even after countless numbers of voice mails that I've left with various people. We have Caller ID and Voice Mail...so I would not have missed that call.
It wouldn't do me any good anyway because you can't cancel a cashiers check until 90 days after you purchased it. It's only been 34 days since I purchased it.

"Adam" stated that he didn't have any advise to give me at this point. 2 hours of my day wasted.

Does anyone have any ideas as to what we can do at this point?
Our Foreclosure...that we aren't even supposed to be in was extended until the end of this month....but I have no idea what to do at this point.

[Noobster]

Okay...so out of the blue yesterday my mortgage co. Taylor, Bean & Whitaker called me.
A little history.....I sent them signed repayment plan paperwork and $1200 5 weeks ago to stop Foreclosure process and even though it's been confirmed by not only the USPS and TB&W that it was received in their office...they cannot find paperwork or cashiers check. There are notes on my account with the names of 2 people that had the package in their hands in the office, but they claim that somehow it got lost on it's way to who it was addressed to. They also admit that foreclosure should have been halted the day the repayment plan agreement was made, they foreclosed anyway. We hired an attorney to get an extension which was granted until the end of May.

TB&W now states that the only way for me to get out of foreclosure is to agree to a Forbearance which involves me stopping payment on the $1200 cashiers check (which you can't do until 90 days after purchasing it...and it's only been 35 days) and sending it back to them as well as making 3 regular monthly payments over the next 3 months.
They state that after those 3 regular payment that I may POSSIBLY qualify for an FHA Partial Claim.
I was told back in January (when we originally filled out and faxed our harship packet) that I DID qualify for the FHA Partial Claim but the Negotiator has never contacted me. The Negotiator has had our file for over 10 weeks now.
I was told yesterday by the lady from TB&W that I had been wasting my time waiting and calling because the Forbearance had to be done in order to even qualify for the FHA PC. I was not told this back in January or at any time in the last 3 1/2 months in which I have called them well over 60 times.

This is not the first time they have messed up a repayment plan nor is it the first time that I have not been given the information that should have been provided to me.
I have done everything I have been told to do up to this point and they have done nothing but mess things up.
Why do the mortgage holders always have to pay for the mistakes of the mortgage company?

[Moe Bedard]

Since you have an FHA loan, have you ever tried involving HUD in this situation where TBW is not being cooperative?

For an FHA-insured loan:

Your lender has to follow FHA servicing guidelines and regulations for FHA-insured loans. If your lender is not cooperative, contact,
FHA's National Servicing Center
1(888) 297-8685
hsg-lossmit@hud.gov

[tanja53]

Originally Posted by Noobster

Okay...so out of the blue yesterday my mortgage co. Taylor, Bean & Whitaker called me.
A little history.....I sent them signed repayment plan paperwork and $1200 5 weeks ago to stop Foreclosure process and even though it's been confirmed by not only the USPS and TB&W that it was received in their office...they cannot find paperwork or cashiers check. There are notes on my account with the names of 2 people that had the package in their hands in the office, but they claim that somehow it got lost on it's way to who it was addressed to. They also admit that foreclosure should have been halted the day the repayment plan agreement was made, they foreclosed anyway. We hired an attorney to get an extension which was granted until the end of May.

TB&W now states that the only way for me to get out of foreclosure is to agree to a Forbearance which involves me stopping payment on the $1200 cashiers check (which you can't do until 90 days after purchasing it...and it's only been 35 days) and sending it back to them as well as making 3 regular monthly payments over the next 3 months.
They state that after those 3 regular payment that I may POSSIBLY qualify for an FHA Partial Claim.
I was told back in January (when we originally filled out and faxed our harship packet) that I DID qualify for the FHA Partial Claim but the Negotiator has never contacted me. The Negotiator has had our file for over 10 weeks now.
I was told yesterday by the lady from TB&W that I had been wasting my time waiting and calling because the Forbearance had to be done in order to even qualify for the FHA PC. I was not told this back in January or at any time in the last 3 1/2 months in which I have called them well over 60 times.

This is not the first time they have messed up a repayment plan nor is it the first time that I have not been given the information that should have been provided to me.
I have done everything I have been told to do up to this point and they have done nothing but mess things up.
Why do the mortgage holders always have to pay for the mistakes of the mortgage company?

You have not waisted your time.
TB&W have waisted your time.

You are doing everything correct.

The thing is that there is also so many people handling TB&W accounts.
And all these people have different opinions. Plus, as we all know by know, dont communicate and take responsibility for what they say.

Just ask for that you get everything in writting.
Have them call you and leave a message on your answer machine so you have proof.

Take down names , ext. numbers and so on.

I have been told thet they dont tjink or expect for people to save all their paperwork.

[Noobster]

Thank you for that info ***....I am calling them now.

[Noobster]

That number didn't do me any good. They just wanted to send me to a credit counseling service, which we've already went through with no success.

[bclan]

The federal Office of Thrift Supervision does not regulate Taylor, Bean & Whitaker but the OTS did provide contact information for the state agency that does. Below is a copy of a letter I submitted to the Florida Department of Financial Services in addition to the state Attorney General and others. If I get any response, I'll post an update.

The address for the Florida Department of Financial Services is 200 East Gaines St.; Tallahasee, Fla., 32399-0381. The address for AG Bill McCollum is Office of the Attorney General; State of Florida; The Capitol PL-01; Tallahassee, Fla. 32399-1050

Here's the letter: ffice:office" />


June 17, 2009

Dear Florida Department of Financial Services:
cc: Florida Attorney General Bill McCollum
U.S. Senator Dick Durbin
U.S Rep. Dan Lipinski
President Barack Obama
Illinois Attorney General Lisa Madigan
Taylor, Bean & Whitaker

I am a residential mortgage customer of Taylor, Bean & Whitaker, Ocala, Fla., and have been seeking a modification for my home loan under the provisions of the Homeowners Affordability and Accountability Program. My experience with this company makes me wonder whether some of its practices are illicit.
I applied for HAAP by sending a packet of information to TB&W’s Loss Mitigation Department by registered mail. The packet was received in the Ocala office on March 20, 2009. Since then I have experienced deplorable customer service every time I have attempted to learn the status of my application.
The typical TB&W experience typically finds me being put on hold for one to two hours before reaching a live person. But even before that breakthrough occurs, the company’s automated answering service repeatedly cycled me to the back of the phone caller queue no matter which option I pressed. Upon finally reaching a live person, the reps usually are unable to answer the most rudimentary question—has my case been assigned to a negotiator?—and I get put on hold and placed back to the end of the call queue again, or the rep simply hangs up on me.
I understand that banks and lenders are inundated with consumer requests for modifications and refinancing, and are struggling to process the requests. However, it is implausible that a company which grew last year to be the No. 4 wholesale mortgage lending institution in the country and bid $300 million to acquire a stake in Colonial Banc Corp., doesn’t invest in simple tools so their front line reps can press a button and their computer screen and summon information so they can tell customers about the status of their modification application.
Also, a recent development that smacks of insincerity is the assignment of my application to a mysterious third party called Sparta. On May 27, a rep named Kenny, informed me that TB&W retained the services of Sparta to help the company handle the crush of modification applications. Yet he declined to tell me what Sparta is, where this company is located or to provide contact information so I could call and learn about the status of my modification application, which TB&W is no longer handling.
So now my application is hostage to a financial institution with no sense of accountability and apparently no scrutiny regarding progress it should be making under President Obama’s plan to keep people in their homes with affordable mortgages. Plus, they’re no longer answering inquiries about the status of my application. I was laid off from my job of 10 years last October. Since then I’ve been able to secure regular work but my monthly mortgage payment now consumes more than 40 percent of my monthly income. I understand loan modification can be a long and arduous exercise given that lenders have to compile complete reports and juggle the interests of lenders, investors and borrowers. However, TB&W has needlessly extended the processing period because it doesn’t invest in basic customer service and so far has escaped any scrutiny regarding it lack of initiative to reduce foreclosures under the Obama program.
Also this secretive game TB&W is playing regarding its alleged outsourcing to Sparta is not consistent with the legitimate and upfront practices that a financial institution should be conducting. It’s about time TB&W to be held accountable.
Below is a timeline of my encounters with TB&W:
· April 10-Tara confirms that my HAAP application was received and processed on March 31. She says the process will take 4-6 weeks and I will be contacted by a loan officer.
· April 22-After more than an hour on hold, Keri says the Loss Mitigation department will assign my case to a negotiator
· April 27-Following more than an hour on hold, Tracy cannot tell me whether my case has been assigned to a negotiator. She gives me the Loss Mitigation phone number (877-754-6847), which has the same call center greeting at the 888-225-2164 number. So I’m back at the end of the line and the next rep can’t tell me anything about the application status.
· April 28-Denina can’t tell us whether our application has been assigned. (I was on hold for almost two hours). She can only confirm that our application has been received and scanned. She gives us the phone number to the Loan Resolution Department (800-530-2602) which after more time on hold leads us to Ingrid. She can’t tell us whether the case has been assigned. She does say that turnaround time takes 8 to 12 weeks.

· * May 11-After more than one hour of waiting, we reach Jesse who says our case should have been assigned by now and the process takes about 90 days. He promises to email a message about our case to the loss mitigation manager and either he or the loss mitigation manager will contact us by the end of the next day through either email or a phone call. I didn’t hear from either person.


· May 27-Again after about two hours of waiting, I reach Kenny. He tells me the case was assigned to Sparta, but declined to provide any information about this
mysterious company or even exactly when this transfer occurred. He adds that a Sparta agent will contact us if it needs more information about for our application. We haven’t heard from anyone.

[bclan]

There have been favorable developments in attracting scrutiny on TB&W's inept handling for my modification request under the Homeowners Affordability and Accountability Program.

In my previous post I included a letter outlining my complaint ,which I then submitted to various elected officials and government agencies. The Florida Office of Financial Regulation responded and directed me to submit my complaint to the Illinois Department of Financial and Professional Regulation. (Attn: Consumer Affairs, Division of Banking, Suite 1900, 122 S. Michigan, Chicago, IL 60603). The explaination is because my property is located in Illinois, jurisdiction falls to the state where the mortgaged property is located, not where TB&W is based.

Also, the Office of Illinois Attorney General Lisa Madigan responded and asked me to submit more documentation (tax returns, correspondence, bank statements ...) for review, so citizen's advocate there can determine if my dispute lends itself to mediation. through the Attorney General. I'm submitting that package this week.

I'll provide more updates as they happen.

[bclan]

Good News,ffice:office" />

The Illinois Department of Financial and Professional Regulation was among the parties I wrote to concerning Taylor, Bean & Whitaker's seemingly intentional mishandling of my modification application.

I received a copy of the July 14 letter that was also sent to Victoria Hanegan (no title) of TB&W. In it, Virginia Calvin, the Consumer Services Administrator for the department's Division of Banking, writes that a response from TB&W is required "to determine your compliance to rules of license in this transaction."

The Department is requiring that the mortgage company "send a letter directly to the consumer that responds to all issues of the complaint by Aug. 4, 2009. The response should be signed, written on official company letterhead, and the writer clearly identified. TB&W also must send that same letter to the department's consumer services section by the same date with supporting documentation.

"Your response will be accepted only if all is submitted as requested above. Failure to completely adhere to the requests of this notice by the above due date may prompt the following: A fine of $50 for each day the response is late, a noncompliance notation to our records, and/or the scheduling of a special examination at your company's expense."

A letter with some teeth in it is at least some payback for all the hours wasted while on eternal hold on TB&W's phone system. I've also got the Illinois attorney general looking into this matter as well after that office asked me to submit more information about my experience with this company. Pile on the letters about this rogue company by writing to your state's attorney general and to the office that regulates financial institutions. Some offices may respond that they do not have jurisdiction but if they get a flood of mail, that volume may wake up somebody in state government to hold TB&W's feet to the fire.

[CAMTAY]

I have also been having HUGE issues with TBW since 03/02/09 regarding a loan modification request and have had some success since filing a complaint with the Division of Banks in my state. I advise all who are having issues with TBW to contact their states banking department and file a complaint. It is the only way to make them move on your file!! I do have one questions, on 06/26/09 TBW settled a lawsuit with 14 states in regards to some of the "unlawful lending practices" and they were ordered to participate in the Making Home Affordable Program. Does that mean all modifications must conform to the 31% DTI ratio or is that just a suggestion? TBW offered us a MOD, but brings our payments from 51% to 42% and they are not moving-seems more of a refinance than a modification, but I am scared to bite the hand that is saving my home????

[tanja53]

Originally Posted by CAMTAY

I have also been having HUGE issues with TBW since 03/02/09 regarding a loan modification request and have had some success since filing a complaint with the Division of Banks in my state. I advise all who are having issues with TBW to contact their states banking department and file a complaint. It is the only way to make them move on your file!! I do have one questions, on 06/26/09 TBW settled a lawsuit with 14 states in regards to some of the "unlawful lending practices" and they were ordered to participate in the Making Home Affordable Program. Does that mean all modifications must conform to the 31% DTI ratio or is that just a suggestion? TBW offered us a MOD, but brings our payments from 51% to 42% and they are not moving-seems more of a refinance than a modification, but I am scared to bite the hand that is saving my home????

Do you know if Ca. is one of the 14 states.

[bclan]

Hey Camtay,

Since TBW is participating in the Making Homes Affordable Program, I'd suggest you demand the 31% threshold. TBW's first offer is going to be the most suitable deal for them, not the customer. While TBW is not exactly obligated to lower terms to the 31% of monthly income threshold, they are claiming that your loan is being redefined according to the guidelines of that program. You can take the remodified (?) loan that TBW offered and show it to the state banking agency that you previously complained to about TBW's lack of customer service. Maybe that same agency will weigh in and give you more leverage by recommending that TBW could make a better effort to actually participate in the spirit of the Making Homes Affordable program.

[CAMTAY]

thanks for the advise. We felt such an obligation to sign it, my gut told me no, but I have 3 kids and dont want to lose my house. I am in the process of writing to the compliance officer who is handling my case with TBW, but who knows what will happen. My understanding is that the modifications must "conform" to the guidelines and not really "follow" them. The wording gives a lot of play for the banks and little for us homeowners. It is such a horrible situation, because on one hand i am happy they offered us something, gives us a little breathing room, but not enough to feel good about. They actually took all the outstanding interest and put in on the loan, so we are more upside down then when we started, just at a lower rate!!

[CAMTAY]

to bclan-
I will be interested to hear how you make out??? TBW acted very quickly on our mod once they received the letter from our banking commission and the complaint we filed. Please keep us updated. good luck!!