how to write my attorney general when i feel my mortgage is wrong

How do I write a complaint letter to a mortgage company?

How do you dispute a mortgage?

Who should you contact first if you have any issues with your mortgage payments?

What happens when a lender makes a mistake?

What is a notice of error mortgage?

Do banks make mistakes on mortgages?

What is the most commonly reported complaint related to mortgage lending?

What is mortgage loan modification?

What is mortgage forbearance?

What is a notice of error?

What is a qualified written request?

How do I dispute an escrow analysis?

How long does it take to respond to a mortgage loan?

Generally, your mortgage servicer must respond with an answer to the error or information request within 30 days (not including weekends and legal public holidays).

How long does it take for a mortgage servicer to respond to a request?

Your mortgage servicer must send you a letter informing you that it received your letter within five days (not including weekends and legal public holidays) of receiving your letter. Generally, your mortgage servicer must respond with an answer to the error or information request within 30 days (not including weekends and legal public holidays).

What is the phone number for Hope?

You can also call the HOPE™ Hotline, open 24 hours a day, seven days a week, at (888) 995-HOPE (4673) If you’re facing imminent foreclosure or have been served with legal papers, you may also need to consult an attorney. Read full answer.

Can a mortgage servicer make a mistake?

Mortgage servicers sometimes make serious errors when handling a homeowner's loan account. Fortunately, a federal law, the Real Estate Settlement Procedures Act (RESPA), provides a way for you to make the servicer correct the error if you believe it made a mistake when managing your mortgage payments. This law also gives you a way ...

What to do if you are facing foreclosure?

If you're facing an imminent foreclosure sale, talk to an attorney right away. Sending the servicer a notice of error or request for information is very unlikely to stop a foreclosure. An attorney can advise you about what to do in your situation and help you enforce your rights.

How long do you have to respond to a foreclosure notice?

How much time the servicer gets to respond to your notice of error depends on the type of error that you claim the servicer committed: 1 If you claim that the servicer didn't provide an accurate payoff statement after you asked for one, it must respond no later than seven business days after receiving your letter. 2 If you claim that the servicer wrongly started a foreclosure or improperly scheduled or conducted a foreclosure sale, it must respond before the foreclosure sale date or within 30 business days after it receives your letter, whichever is earlier. 3 If you claim a different type of error, the servicer must respond within 30 business days after it gets your notice.

What is RESPA in mortgage?

Fortunately, a federal law, the Real Estate Settlement Procedures Act (RESPA), provides a way for you to make the servicer correct the error if you believe it made a mistake when managing your mortgage payments. This law also gives you a way to get specific information about your account. Whether you want to notify the servicer about an error ...

What happens if you send a letter to notify the servicer of a particular error?

If you send a letter to notify the servicer about a particular error that it made when managing your loan, the servicer must correct the error, provide notification of the correction, and give contact information for you to follow up, or let you know that no error occurred along with the reasons for this conclusion.

How long does a servicer have to respond to a notice of error?

How much time the servicer gets to respond to your notice of error depends on the type of error that you claim the servicer committed: If you claim that the servicer didn't provide an accurate payoff statement after you asked for one, it must respond no later than seven business days after receiving your letter.

What to do if a servicer doesn't respond to a notice of error?

If the servicer doesn't respond to your notice of error or request for information or if the servicer disagrees that it made an error or refuses to provide you with certain information, consider consulting with a lawyer. If you're facing an imminent foreclosure sale, talk to an attorney right away.

What is mortgage fraud?

Generally, mortgage fraud occurs when an institution or person misleads or deceives you into entering a misguided loan so that they can make additional profit. The institution or person can be a bank, lender, appraiser, mortgage broker, real estate broker, or other individual.

What is the job of the Attorney General?

The attorney general is responsible for protecting consumers and being the chief attorney for the people of their state. In California, for example, the attorney general expanded the prosecution of mortgage-related fraud after the debt crisis in 2008. They also established a task force to investigate these frauds.

What is HECM mortgage?

Home equity conversion mortgages (HECM). The Federal Housing Authority provides reverse mortgages to people over 62 who have no loan (or only a small loan) on their property. With the reverse mortgage, you get a lump sum payment in exchange for the mortgage.

How to organize evidence?

To help organize your evidence, create a file and include the following: a copy of the police report, if you contacted the police. a copy of your credit report. a copy of your loan agreement. emails and letters from the perpetrator of the fraud. any other relevant document related to the fraud. ...

What is consequential damages?

Consequential damages are any injuries suffered as a consequence of the fraud.

Where to report fraud in real estate?

Report fraud to the bureau of real estate. If you worked with a real estate agent or broker who you feel defrauded you, you can file a complaint with your state's agency that regulated real estate. In California, for example, it is the Bureau of Real Estate within the Department of Consumer Affairs.

How to start a trial?

Make an opening statement. A trial begins with opening statements. As the person bringing the lawsuit, you will go first. Your attorney will handle the trial if you have one. If you don’t, then you will need to do everything, including delivering a brief, focused opening statement.

Can you sue a mortgage lender for negligence?

As mentioned above, if your mortgage lender commits negligence, you may sue your mortgage lender. Examples of this can include where they negligently fail to include terms in the loan agreement that were agreed to by both parties, or if they breach their fiduciary duties.

Can a mortgage lender be charged with fraud?

Additionally, mortgage lenders may also be charged with mortgage fraud, such as forging a mortgage contract. If a mortgage lender commits mortgage fraud, the mortgage borrower may use the mortgage loan fraud as a legal defense to foreclosure;

What are the remedies for breach of contract?

Additionally, breach of contract remedies may include remedies in equity, such as: 1 Cancelling the mortgage contract; 2 Rewriting the mortgage contract to better reflect the parties agreement; or 3 Ordering specific performance under the contract.

What are some examples of legal issues?

Common examples of legal issues that may arise when dealing with a mortgage lender include, but are not limited to the following: 1 Foreclosure: The most common legal issue that arises between a mortgagor and mortgagee is when the mortgagor is behind on making payments on the mortgage, which leads to foreclosure. In short, foreclosure is the process where the lender takes the borrower’s property and sells the property at a public auction in order to satisfy the borrower’s debts; 2 Mortgage Fraud: Mortgage fraud occurs when false or incorrect information is provided on a loan application. Basically, if you lie on your mortgage loan application, you may be charged with the crime of mortgage fraud. Additionally, mortgage lenders may also be charged with mortgage fraud, such as forging a mortgage contract. If a mortgage lender commits mortgage fraud, the mortgage borrower may use the mortgage loan fraud as a legal defense to foreclosure; 3 Predatory Lending: Mortgage lenders sometimes target susceptible buyers, such as first-time borrowers or elderly borrowers, and offer them loans at abusively high interest rates or unreasonable loan terms; or 4 Discrimination: Mortgage lenders are prohibited form discriminating against borrowers based on their race, gender, religion, national origin, or other federally protected characteristics under the Fair Housing Act and Equal Credit Opportunity Act. Both federal acts serve to protect a borrower from being discriminated against while seeking out mortgages or loans.

What is a mortgage lender?

A mortgage lender, also known as a “mortgagee,” is a person, group of persons, or a company, that provides money to a borrower, also known as a “mortgagor,” to purchase a home. Typically, mortgage lenders are financial institutions, such as a bank or mortgage company. However, there are some individual mortgage lenders.

What is the role of a mortgage broker?

The broker’s role is to assist the borrower by researching multiple loan options from many lenders and helping them find the best loan for them.

What does a real estate agent do?

Finally, a real estate agent will also be involved in helping the borrower find a property to purchase, as well as work with the mortgage lender and broker. As can be seen, with so many parties involved in the purchase of a home, it is not difficult to see why legal disputes often arise.

What to do if you are facing foreclosure?

If you're facing a foreclosure and you believe it's due to a servicer error, it is recommended that you contact a foreclosure attorney immediately to get advice about your particular circumstances. Just sending a letter to the servicer probably won't be enough to stop a foreclosure.

How long does it take for a servicer to acknowledge a loan error?

If you send a servicer a notice of error—a letter saying that the servicer made a particular error when handling your loan account—the servicer has to acknowledge the letter within five business days and fix the error within a certain time period. (12 C.F.R. § 1024.35.)

What is mortgage servicer?

A mortgage servicer is a company that handles loan accounts. Sometimes, the original owner of the loan (the lender) or a bank that the lender sells the loan to (an investor) services the loan. Other times, the lender or investor transfers the right to manage the loan account to a different company. That company then handles the account on behalf ...

How long does a servicer have to respond to a notice of error?

If you say the servicer didn’t give you an accurate payoff statement after you asked for one, the servicer has to respond no later than seven business days after getting your letter. Wrongful foreclosure.

What is a request for information?

Request for Information: Getting Details About Your Account. If you think the servicer might have made a mistake—but you aren’t sure and need more information about some aspect of your account—you may send the servicer a letter asking for details about your account.

What to do if you have a complaint against a mortgage company?

If you have a complaint against a mortgage company, try to resolve it with the company first. Several government agencies accept complaints about mortgage lenders. In some cases, you should file your complaint with more than one agency, especially at the federal and state level.

How to file a complaint with a bank?

Report problems with your bank, financial institution, lender, or broker. There are tips to help you file a complaint: 1 Contact the branch manager, the customer service hotline, or the institution's website. 2 Use this sample complaint letter to explain your problem and how you want the bank to fix it. 3 Provide copies of receipts, checks, or other proof of the transaction.

What is a national bank?

a national bank (has National in its name, or N.A at the end) federal savings and loans. federal savings banks. For a problem with a state-chartered bank and trust company, contact either. the Federal Deposit Insurance Corporation or. your state banking authority.

What is the CFPB?

The Consumer Financial Protection Bureau (CFPB) enforces the Equal Credit Opportunity Act. This law prohibits lenders from denying credit because of certain characteristics. File a complaint with the CFPB if a lender has denied a mortgage application because of your: Age. Sex (including gender) Marital status.

What to do if you suspect a mortgage broker is committing fraud?

If you suspect that a mortgage broker or bank is committing fraud, contact the FBI . The FBI has a specific task orce designated to investigate mortgage fraud. The FBI takes mortgage fraud seriously, and will prosecute those who commit mortgage fraud.

What does the Federal Reserve do about mortgages?

The Federal Reserve asks consumers to contact them with any complaints against a bank. This includes complaints about lending practices and mortgages. The Federal Reserve will investigate complaints and will work with the mortgage company to fix your issue.

What is a complaint to the Better Business Bureau?

Complain to the Better Business Bureau. The Better Business Bureau, or BBB, is a nonprofit company that offers accreditation for businesses. Consumers trust the impartial information provided by the BBB about companies throughout the country. You can file a complaint with the BBB and they will forward it to the mortgage company for ...

How long does it take to file a complaint with the BBB?

You can file a complaint with the BBB and they will forward it to the mortgage company for a response within 2 days . The BBB requests the mortgage company respond within 14 days to your complaint.

What is the real estate settlement procedure act?

The Real Estate Settlement Procedure Act, or RESPA, is a federal law that regulates the way mortgage loans must be originated, disclosed, serviced and sold. You should report violations of your rights under RESPA to the U.S. Department of Housing and Urban Development. HUD also enforces fair lending laws, ensuring that people are not discriminated against when obtaining or financing housing. Both banks and mortgage brokers are subject to HUD's jurisdiction.

Does each state have its own banking agency?

Each state regulates banks with their own banking agency . Mortgage companies and originators are also regulated by the state. All mortgage brokers must receive a license prior to originating any loans. Each state has its own agency that regulates this industry.

What is the underwriting stage of a mortgage?

During the underwriting stage of a mortgage, the mortgage company decides whether you qualify for a loan by reviewing the financial documents you submitted with your application. Mortgage companies use finance professionals called underwriters to oversee underwriting.

What does a mortgage history show?

Rent or mortgage history shows a lender that you’re capable of paying your housing costs on time. If you’ve been living for free somewhere, for example at your parent’s home, you’ll need to prove that to your lender with a letter of explanation from the owner of the home, not you.

What is an underwriter's job?

An underwriter’s job is to assess your risk and decide whether you’re a good candidate for a home loan. The information the underwriter sees doesn't always tell your entire financial story. An underwriter may request a letter of explanation from you if they’re unsure about something they see. A letter of explanation is a brief document you can use ...

What are negative items on credit report?

You may need to provide a letter of explanation for any negative items on your credit report, including missed payments, defaulted loans or repossessions.

What is a letter of explanation?

A letter of explanation is a brief letter you can use to explain items on your financial documents and increase your borrowing power. There are a few reasons you or a third party may need to produce this letter and they depend on the lender you’re working with and the type of loan you’re getting.

What does it mean to live rent free?

You’re Living Rent-Free. Rent or mortgage history shows a lender that you’re capable of paying your housing costs on time. If you’ve been living for free somewhere, for example at your parent’s home, you’ll need to prove that to your lender with a letter of explanation from the owner of the home, not you.

Notices of Error

Requests For Information

How to Write A Notice of Error Or Request For Information Letter

• You can find a sample notice of error letter and request for information letter, along with useful information about what to include in the letter, at the Consumer Financial Protection Bureau's website. If you're sending a notice of error and also want to request specific information, you can send a single letter. Or you can send your notice of err...

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