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boa to seterus

Discussion in 'Mortgage Complaints' started by klsmith3, Oct 22, 2011.

  1. klsmith3

    klsmith3 LoanSafe Member

    Just got 1st bill from seterus for november payment.We have been paying on time 1040. a month which is more that agreed to with boa in loan mod. Now seterus wants us to pay almost 2000.00 more for month of November. It is listed under other costs. No explanation nothing. This is not included with the any contract from Boa .we are to pay this 3000.00 on nov payment.Just stated other costs.We were railroaded on modification to 40 year loan also. This has been a major problem from day 1 and now this. I have no idea what to do . We are barely making the house payment,let alone 2000.00 more with 10 day notice of this amount with no explanation .just pay or else:cry:I hope this doesnt happen to everyone else that was with Boa
  2. TomEason

    TomEason LoanSafe Guide Staff Member


    Thanks for your post and welcome to Loansafe. Sorry to hear of your dilemma. While I'm not clear what roles Seterus and BOA play here, you are owed an explanation, and the best way to get it is by sending BOA and/or Seterus a QWR.
  3. hibiscus

    hibiscus LoanSafe Member

    I recently saw an approved list of subservicers for BOA, it was posted on the BOA/BNY Mellon settlement site. Supposedly, it is current as of October 19th. It looks like they are preparing for a win. They will be fighting it out in Federal court, despite their desire to do so at the state level.

    Just another way for BOA to make money by selling the servicing rights. In addition to cleaning up their image by getting rid of their toxic mortgages.

    http://www.cwrmbssettlement.com/Approved List of Subservicers.pdf
  4. freedomwon

    freedomwon LoanSafe Member

    For some reason, I'm unable to get that link to work. As an alternative, here's a link to the site Countrywide RMBS Settlement Once there, over on the left, click on subservicers for the most recent list.

    Thanks for that hibiscus. I did not know Greentree was a sub-servicer for BofA. I learned something new.
  5. hibiscus

    hibiscus LoanSafe Member

    Sorry about the bad link! So, does this mean delays with BOA are just a stall tactic to dump these loans unto the laps of these other subservicers? Weird thing is that alot of the loans once came from these other servicers to BOFA or Countrywide.
  6. freedomwon

    freedomwon LoanSafe Member

    What I do know for sure about seterus is that they used to be IBM LBPS. I've read most loans that BofA has transferred servicing to Seterus are Fannie Mae loans. I'm sure there's a strategy behind what they're doing. They are working hard & fast to spread out the toxic (non-performing loans) that's for darn sure!
  7. OverandDone

    OverandDone LoanSafe Member

  8. klsmith3

    klsmith3 LoanSafe Member

    Well I just spoke to Seterus. They say it is attorney fees from over 2 years ago. I told him that I thought this is odd that this was never brought up with Boa but their 1st bill has come up with these fees.Can they just charge us whatever they want?When they want?Thank you for any help
  9. TomEason

    TomEason LoanSafe Guide Staff Member


    Thanks for your post. I recommend you send Seterus a QWR and ask for a full accounting of these charges.
  10. Cat Damiano

    Cat Damiano Mortgage Wars

  11. freedomwon

    freedomwon LoanSafe Member

    klsmith3 - I third that motion. A QWR (Qualified Written Request) is what needs to be done ASAP. That should get you some answers.
  12. klsmith3

    klsmith3 LoanSafe Member

    Sorry I have been really ill. In process of typing complaint letter now. I will try to find physical address to send registered mail.I called to make 1st payment because I couldn't set up online payment. Set up payment for 15th on the 13th of month. When I called to verify payment they say it was paid on 17th. All I am seeing is big problems every where you turn. Thank you so much for any and all help. They are aiming to foreclose. I have never been late on modified. They state on there web site that any money will be applied to costs not house payment so we will be delinquent immediately.Thank you again.
  13. klsmith3

    klsmith3 LoanSafe Member

    Thank you for the information. I went to site and from what I see Ibm/seterus is not on the list of approved servicers. I am not sure what to do with this information.Could a dba be invovled?Again thank you for any and all help
  14. Jeffrey L. Shurtliff

    Jeffrey L. Shurtliff LoanSafe Member

    The attorneys fees should have been added on the back of the loan and therefore are not owed in my opinion. You need to dispute the validity of this debt in a letter. Attach the signed loan mod docs to the letter and refer to them in the letter.
  15. klsmith3

    klsmith3 LoanSafe Member

    Thank you all so very much . I will do that

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