MGC Mortgage Issues

[chikia]

Originally Posted by schwefls

Hi Patty and goodwda1:

Did you get your welcome letter from MGC dated 7/30? I did, with some lame excuse for them not following the 15 day RESPA regulation. But, still no statement for 8/1...

Hello everyone. I'm experiencing the same thing. My July payment hasn't been cashed. My welcome letter is dated 7/28/08 with the 15 day late RESPA excuse. I still haven't received a monthly statement. I call the 800# and the system hangs up on me or if I press "*" to speak with someone it keeps telling me to press "*" to speak to someone and I never do I get hung up on. I sent an email yesterday and got the following email the same day:

"Please do not respond to the sender of this email. Replying to the
sender of this email may delay MGC's response time. Use MGC's secured
email found on the About Us tab at MGC Mortgage, Inc or you may email
directly to loanservicing@mgcmortgage.com. Please include your name,
loan number, and the last 4 digits of your social security/company TIN
number for identification purposes.


MGC Mortgage, Inc. ("MGC") is in receipt of your email. You may see a
delay in the processing of your first payment through your financial
institution as this is a transferred loan. Your payments are posted to
your account as they are received by MGC."

[schwefls]

I am very concerned with their inability to service our loans or take our phone calls I am at a loss as to how work with them? Anybody have any suggestions??

[chikia]

Has anyone's July mortgage payment been cashed? Mine hasn't yet. I sent my August mortgage payment to them via certified mail and I have proof of delivery. I'm becoming increasingly alarmed.

[schwefls]

chikia:

After many long hours being hu on I finally reached a human Keith 866-544-9819 x. 8613
He states no payments have been applies because their computers are not uploaded yet. When will this upload be complete?? He cannot say. He states that all payments are in a flder wiating to be posted, once the accounts get updated they will post the payments. WHEN??? No idea, but we will not be charged late fees. In the interim I have filed a complaint with the BBB, Department of Banking and HUD for waht any of that is worth....

[chikia]

I spoke with a Vanessa at 866-544-9819 ext. 8690. Just kept apologizing and doesn't have any answers as to why my July and August payments haven't been cashed. I gave her the dates I sent, the check numbers and amounts so she could note my account.

[schwefls]

Did they actually have an account uploaded for you? Cauz when I called last week they did not have an accountset up for me

[chikia]

she asked for my acct no. asked me to verify my name and mailing address. She also said she would note my account with the check numbers, amounts and the dates I sent them in. I assume she had access to my account.

[schwefls]

Thank you Chikia

[Mikedewy]

I am on the same page is everyone. I have neen waiting since July 3rd for MGC Mortgage to acknowledge me and my loan. After countless phone calls, emails, faxs, and hand written letters to their physical address, I still have not received a statement, nor have have they cashed my July payment. After over a month, I received a poor excuse for a welcome letter with what was supposedly a new loan number along with instructions for making payment. I sent payment in immediately indicating my loan number on the check, and I haven't heard anything since. Here is is now August 22nd, 2008 and I still haven't heard anything, and they still haven't cashed my check. I managed to get someone live on the phone the other day, but my loan still hasn't been updated into their systems.
MGC Mortgage assures that we will not experience any late fees as a
result of this, nor will there be any negative reporting to your credit files
with-in a 60 day period. What happens when this extends beyond that period? People are going to start losing their homes if this doesn't get under control or if the authorities don't step it and handle this.

[chikia]

GOOD NEWS EVERYONE!

My July mortgage payment was finally cashed on 9/10/08! It was my first payment to MGC Mortgage and since I didn't have a new account number I wrote my old Homecomings account number (as instructed by Homecomings) and it looks like MGC wrote my new MGC account number on the check!

Hooray!

[chikia]

Even better news. I received today a letter dated 10.10.08 from MGC Mortgage that my account was assigned, sold or transferred to GMAC Mortgage.

[schwefls]

OMG Chikia I want one of those letter when is it effective?

[chikia]

GMAC will service my loan effective 10/27/08. Though I might not be out of the woods yet as I came home today with a message on my answering machine from MGC Mortgage. They've cashed my Jul, Aug, Sept, and Oct payments, so I don't know what the heck they could want from me.