Oh, those charmers at seterus Mortgage

Do you know who owns your mortgage? Wanna bet?

In 2004, the nice New York couple who rented me my house decided to retire to San Diego instead of Las Vegas. They asked me if I wanted to buy. It sounded easier than moving. I asked the folks at my bank, then called Bank West of Nevada, if they issued mortgage loans, thinking it would be nice not only to patronize a local business, and also to be able to go down the street and visit my mortgage holder in person if there was ever a problem. They told me they did.

That wasn’t quite true. When I sat down to sign the forms, it turned out my lender was an outfit called RBMG, which had been acquired in 2001 by NetBank, an Internet-only outfit which was to fail massively in 2007.

Within weeks, my “RBMG” mortgage was turned over to Countrywide, or so I thought. Then, when Countrywide tanked, I was told to start sending in payments to Bank of America.

By this October, my checks were heading to an outfit called “seterus” — yes, lower-case “s” — apparently in Pasadena, California, though I now learn that address is a glorified mail drop.

I’ve sent them three checks, each one for a different amount. For the payment due Oct.1, I was told to use the old Bank of America invoice and payment amount — $1,572.64. For Nov. 1, they billed me $1,535.33. For my payment due Dec. 1, the coupon said to pay $1,498.02.

On Dec. 5 — despite the fact the payment is not considered “past due” till Dec. 16 — one Christopher Hill called me at work from the seterus office in Beaverton, Oregon, complaining my payment due Dec. 1 had not been received. I told him I’d mailed the check Nov. 28.

Lo and behold, Mr. Hill searched his computer files and found such a payment HAD been received, but that it had not “credited.” It was being held “in suspense” because it was short by more than $10 from the $1535.33 required.

I told him I wouldn’t have made up a figure like $1,498.02 out of thin air; that must surely have been the amount requested on their coupon. He asked me to check. I told him I would.

At home that evening, I found the statement. But of course the coupon wasn’t there — I’d mailed it in with my payment, as instructed.

I tried to call seterus back at 9:30 the next morning, at the only number they provide, 866-570-5277. After “pushing 1 for English” (Spanish language service is provided for illegals whose mortgages have been acquired by the federal government) I spent 22 minutes listening to the kind of instrumental music they play at skating rinks.

I checked online. No other phone numbers. Now pay attention, because this works:

I proceeded to call information for Portland, Oregon. Under “state government,” I asked for the number of the Oregon state Division of Finance and Corporate Securities. These nice folks answered their phones immediately, and were happy to tell me “seterus” isn’t an Oregon corporation, at all. All the corporate contact information was in “Research Triangle, North Carolina,” where the main number for the CEO, CFO, and corporate counsel (all good people to speak to if you can’t get through on the skating-rink line) is 888-576-5277. Furthermore, the “corporate contact person” is one Karen Pollock, at 919-517-1217, e-mail kbpolloc@us.ibm.com.

No “k.” Also no “seterus.” Instead … “IBM.”

‘NOT THIRTY-SEVEN DOLLARS. THIRTY-SEVEN DOLLARS AND THIRTY-ONE CENTS’

I left a message for Karen Pollock in North Carolina. I then tried the telephone boiler room in Beaverton again, finally reaching not Christopher Hill but one Julie Knox, who wanted the last four digits of my Social Slave number. Since my Social Security card says right on it “Not for Purposes of Identification” and I had no intention of seeking any government retirement benefits, I declined. (Anyone who knows when and where you were born can reconstruct the first five digits of your Social Slave number in a heartbeat. And no, they don’t already have it. Seterus recently sent me a W-9 “request for Social Security number,” the only “servicer” ever to do so. I asked my accountant why. He said, “That means they’ve lost your Social Security number. Don’t give it to them.”)

Eventually she relented, insisting the “amount due” showing on my November coupon had been $1,535.33, and I would be considered delinquent unless I mailed them another $37.31.

“Are you sure?” I asked. “Isn’t it possible that because the first amount I sent you back in September was $1,572.64, based on the old B of A invoice which you instructed me to use, and you’ve decided to reduce the amount of escrow in your monthly bill and are now billing me $1535.33, you didn’t end up with $37.31 sitting ‘in suspense,’ and to take care of that you didn’t simply send me a November monthly statement asking me to pay $1,498.02?” I asked.

Absolutely not, said Julie Knox.

“OK. I’ll mail you the thirty-seven dollars,” I said.

“Not thirty-seven dollars,” she said. “Thirty-seven dollars and thirty-one cents.”

Well, well. Talk about precision.

So, including $4.50 “to buy Christopher and Karen and Julie each a cup of coffee,” I wrote out a check for $41.81, along with a lengthy hand-written cover note, which will require them to spend hours sending me a written reply.

Why? Because seterus is governed by labyrinthine U.S. government protocols on how to handle disputes and inquiries, because seterus doesn’t own my mortgage, any more than Countrywide or B of A ever did.

I asked everyone I spoke to Tuesday who owns that note. In the end, everyone agreed my note is owned by the Federal National Mortgage Association, Fannie Mae, the actuarially bankrupt government mortgage devourer. All these other outfits — including the latest one, which is a division of IBM, as hard as they may work to conceal that — merely refer to themselves as “servicers,” like the gals down at the local Asian Massage parlor.

By the time I had my check for $41.81 ready to go, the phone rang again.

You’ve already guessed, haven’t you? Karen Pollock in “Research Triangle, North Carolina,” anxious not to talk to me, had contacted one Michelle Patterson, in seterus’ Consumer and Government Affairs office in Beaverton, Ore., who can be reached at 503-270-4036. She’d looked into my account, and what do you suppose she figured out?

“Because your first payment to us was for $1,572.64, off the old B of A coupon we told you to use, we had an extra $37.31 sitting ‘in suspense,’ so the amount on your payment coupon due Dec. 1 was $1,498.02, which was the amount you sent us. They billed you that lesser amount to make it all come out even.”

Just like I told Christopher and Julie?

“Yes. Unfortunately, that $37.31 had sat there for so long that it got credited as an additional payment against your principle, and that’s why they didn’t see it on their screens and were telling you to send in an extra $37. So what I did is I grabbed that back and applied it to your December balance, so now you’re even and you don’t need to send us anything.”

Yeah, and she’ll still respect me in the morning.

“Who owns this note?” I asked.

“Fannie Mae.”

“When Fannie Mae bought this note, did they pay full face value, or did they pay an amount discounted to market?” I asked.

Michelle Patterson told me she didn’t know.

“Because if they paid full face value for a bunch of Las Vegas mortgages, when the majority of houses here are upside down, that’s in effect a government bailout for the issuing banks, which would never have been able to collect full value on these loans, right?”

Michelle Patterson told me she didn’t know.

‘THAT’S WHY WE’RE IN SO MUCH TROUBLE NOW …’

So I called Fannie Mae in Washington, and spoke to their chief PR flack, Amy Bonitatibus, at 202-752-4144. Amy said she couldn’t be sure, since she didn’t have my file in front of her, but in all likelihood she believes Fannie Mae bought my note very shortly after it was issued, and that everyone I’ve been dealing with since then is merely “a servicer.”

And Fannie Mae doesn’t get these notes at a discount, given the odds that some of them will default or show losses through short sales?

No, Ms. Bonitatibus said. “When we buy the loan presumably we pay full face value. That’s why we’re in so much trouble now, why we’re showing these huge losses, because there are so many defaults.”

Well, why in heck WOULDN’T a mortgage writer sell a mortgage to the federal government at full face value, reducing their risk of loss to zero, since all the risk now belongs to taxpayers? Who dreamed that up, Barney Frank?

Yet on Aug. 5, on the Web site Hot Air (http://tinyurl.com/3ursvka) Ed Morrissey reported:

“Fannie Mae, which has already eaten over $100 billion of taxpayer money after being absorbed by the federal government in 2008, took a loss in the second quarter of $5.2 billion Ñ and they want taxpayers to cover it. …”

I wonder if Fannie Mae’s private, never-suffer-a-loss stockholders paid seterus on a “cost-plus” basis to have their staff spend all those hours on the phone with me Dec. 5 and 6 … over a bill that had already been paid on time and in full?

And I’m one of the few idiots who’s still diligently paying. How do you think their music-on-hold, “Send-us-$37-or-else” approach is working when it comes to charming the “Walk Away” gang?

For a hint, check Craig’s List for a new type of classified ad we’ve just started seeing here, offering to sell the cabinets, plumbing and copper pipe out of upside-down houses, urging buyers to “bring your tools and some cash.”

37 Comments to “Oh, those charmers at seterus Mortgage”

  1. liberranter Says:

    I seriously wonder if all mortgage companies have adopted a policy of hiring only innumerate, inarticulate high school dropouts to process customer accounts and provide customer “service” [sic]. None seem capable of fielding simple inquiries from irate customers wondering why their monthly payments have been misapplied/lost/incorrectly posted. I just finished a year’s worth of battle with Wells Fargo over my own mortgage account, never getting a satisfactory answer as to why a simple extra monthly payment toward principal was being misapplied, resulting in the lapse of an optional mortgage life insurance policy. I finally gave up, simply choosing to mail a check [!!] each quarter with the extra principal payment and purchasing the life insurance directly through the insurance company as a separate offering rather than dealing with the hassle of trusting some clueless chair warmer at Wells Fargo to use common sense.

    While this certainly isn’t in the same vein as the problem you describe, it does seem to validate the idea that these state-corporate welfare queens really don’t have any incentive whatsoever to take care of the customer. Unless you want to go through the hassle of refinancing (in which case you’ll almost certainly wind up with a lender as bad as or worse than the one you left), it’s easier to just suffer and keep your battle armor at the ready.

  2. Randy Says:

    Man, that made my head spin.

  3. Rollory Says:

    If you can’t buy a house with cash, you shouldn’t be buying a house.

    That’s my position and I’m sticking to it.

  4. Bea Says:

    You only know half the story (bad service) on “seterus”. The other half is that this company bought many home loans in southern Nevada and they (seterus) purchased Private Mortgage Insurance and put them on the loans that didn’t already have it. Seterus paid for the PMI without the homeowners knowledge. We know this because our home is in the foreclosure process and we had a wonderful “short-sale” offer. Seterus did not accept the offer because they preferred to cash-in on the PMI when the foreclosure is complete. We told them we don’t have PMI as we purchased the home with 20% down. That is when we found out seterus purchased PMI themselves. Wow, this was amazing! A company that cashes-in on the backs of homeowners who are down on their luck! Shame on them!!

  5. Lynette Says:

    My story a very different but yet the same. In June 2010 Chase, who was my mortgage servicer, informed me that St John’s Insurance had terminated coverage. The house was empty as I had been recalled by the military. On June 22nd I purchased an insurance policy from Citizens, through Allstate. The young lady informed me that the invoice would be sent to Chase for payment.

    Within days I received notification from Chase that seterus would be servicing our loan from July 1st 2010. Concerned about the payment,of the insurance policy,I checked with Allstate and was informed that they had not received payment, the premium amount
    was $1043.00

    I called Citizens who told me that they would honour he policy if the
    premium was paid within 90 days of purchase. They emailed me a copy of the policy together with the invoice.

    I sent this to seterus with a request that they pay. Unfortunately,
    I never follwed up and a year later June 7 2011 they wrote informing me that there was no coverage and the were imposing forced place insurance in the amount of $3293.37.

    It is now 6 months later and they have given me every excuse even
    contradicting themselves as to why they never paid the premium and refusing to accept responsiblity.

    I have tried various avenues for assistance but none of the agencies or attorneys I have spoken with seem interested because it is a ‘couple of thousand and many are in much worse situations than me”. A quote from an attorney I spoke to today who seemed to think that I should consider myself lucky and accept it.

  6. justwondrin Says:

    My mortgage was also turned over to seterus. It was originally through First Horizon, then an insurance company, then IBM, now seterus. They tried to pull the “you don’t have insurance scam” even before payment was due on the insurance policy I have had for years. They charge $5 to make an online payment, more than that (I think $7) for a phone payment, and moved their payment center to CA for people on the east coast, which costs more in per day interest when the payment has to cross the country.
    We were told that a hedge fund owned seterus, when we called to question the varying amounts of interest calculated.

  7. cheezehead17 Says:

    This is scary stuff. My husband and I are in our 60′s. My husband just lost his job and we can not meet all of our bills on my income as a teacher. We have recently listed out house for short sale and begun the paper work with seterus. Our mortgage has been sold so many times it is hard to keep track and did seem to go from Chase to a bail bonds company briefly to seterus. Hmmmm. What was that about?So far we get called every Sunday by individuals who obviously have no clue why there calling or any information on the case. We have never had this kind of situation in our lives and it is hard enough without the fear of being taken advantage of a mortgage company.

  8. Seterus screws people Says:

    31 Mar 12 – I have Seterus and my experience has been the same or worse at some times. I have spent hours on the phone and received countless insurances that this will happen or that will happen. But Seterus screws up almost deliberately. Once I paid the property tax, to make a long story short I was told they wouldn’t pay the property tax, but they did. So the county got double paid. The county returned the double payment money to Seterus within about 2 months. But Seterus attempted to bill me for more than 6 month, fees associated with their overpayment of property tax. The whole time, they had the check from the county. A mortgage with Seterus is a horrible thing to live with. I recommend never using a bank to buy a home. Never, Never use a credit union much more simple. Seterus is the absolute worst organization I’ve ever had to work with. Terrible company makes one sick to their stomach.

  9. Monty Cantsin Says:

    I had a similar experience. My original mortgage servicer folded and my loan was transfered to Countywide>Bank of America>IBM LBPS. IBM LBPS (Lender Business Process Services… can you get any more abstract than that?) then became Seterus.
    I asked why the name change, and was told something like “IBM doesn’t want their name involved in our company”. Whatever that means.

    This all took place since 2007. Including LBPS changing it’s name to Seterus, it’s all such a shuffle, that it’s left me wondering how I could possibly get out of this without walking away. Even if I could properly refinance, the last five years have been such an insane shell game, what regional bank or credit union would want to go through a year or more of hassles with Seterus? I don’t believe for a second that all their obfuscations and stonewalling (“sorry we lost your paperwork”) is the result of incompetence. It’s clearly willful, and someone’s abusive money farming strategy. If they can prevent me from making a fair agreement with some steady, local bank, by hiding my note in a maze of paperwork, they keep winning, and I keep losing: my money, my hopes for a decent future, and my sanity.

    My biggest fear, is that I honor this mortgage agreement, as I have been since the beginning, and at some point, maybe even the last payment I make, I get told by some other too-big-to-fight-off lender or servicer that I’ve been paying the wrong people the whole time, because the chain of custody of the note was somehow rediscovered, and the house isn’t mine. Of course, banks don’t make money by being honorable, so my old ass gets put on the street. That’s my biggest fear. It’s why I regularly think about walking now, before I get further down the rabbithole.

    But then am I acting on fear or am I being wise to cut ties with dishonorable folk? It boggles my mind.

  10. Linda Aldridge Says:

    My experiance with Seterus has been a real horror story. I needed to do a short sale on my home in Cape Coral, Fl and so I called Bank of America and told them what was going on. Two weeks later they send me a letter saying my contract had been sold to Seterus.To make a long story short, I went into short sale. My property was put on the market at 99,000 my unpaid balance was 95,000 first and 25,000 second mortgage. We had no interest so we lowered the price to 79,000 before we got an offer for 80,000 cash. The bank turned it down. The person then offered 85,000 and again was turned down. So then Seterus says we need 105,000 which is 10,000 over the first mortgage and with the comps on my home being around 80,000 I was dead in the water.I want to thank our government for looking out for my welfare and doing all possible to help us keep our homes.I am 66 years old and now filing bankruptcy,it was my only alternative to rid myself of all these charges and having peace of mind in whatever lifetime I have left.OBAMA YOU SUCK!!!!!!!

  11. Tibbs Says:

    Two women from the beaverton office are in custody for hit and run.
    They ran over a poor woman on West Burnside and left her in the road to die. It took a while but fortunately the cops have arrested these two mortgage criminal gals from Seterus. They really thoufgt they could get away with murder. They had the car trailed and sent to corbett to be repaired and had family and boyfriens to help them try to escape the law. I guess if you work in a sleazy corporate environment with criminal psychopaths that screw people every day, it’s not much of a leap to run someone over with your car and leave them for dead.
    I sincerely hope these two spend a long long time in prison and that people say no to Seterus for being such a cesspool of filth.

  12. Marilyn S Says:

    My mortgage was just transferred to Seterus and I am horrified by what I am reading! Isn’t there someplace to go for help if this company is as illegal as alleged?? I don’t know what to do now.

  13. Brian Says:

    I’m sure many of you have seen the pages of entries from a google search about “seterus”. Looking at them, you’ll see complaints similar to any of yours on these results pages. Imagine, when LBPS (fore-runner of seterus) (IBM) first took over servicing of our loan (May 1, 2009), as well as NEVER sending a first payment coupon, not being able to find our loan in the system (phone call May 10th,2009) and consequently assessing a late payment letter dated May 6th, 2009, I sent a letter to the “contact us” link at ibm.com, I got a phone call from “Karen” the next freakin day. She fixed the problem. I should have know how “eff-ed” up they were when this company, owned by IBM, did not have online payment services set up. If I remember correctly, didn’t IBM have something to do with “computers or something” a while back? I eventually found out that IBM stands for I Be (a) Moron. In the four plus years now, seterus has tried pages 1, 2, 3, 4, etc ….. of the screw homeowners handbook to steal money from us. Take heart! They’ve not gotten an extra penny from us. Just hours upon hours of time on the phone.

  14. Irene Fountain Says:

    Thank goodness I found this. Seterus just turned my mortgage over to their foreclosure department for non-payment, even though I sent them payments. They sent them back. “Non-payment” is a crock. Seterus is a crock. I originally got behind last fall and called in December to make a repayment plan which went info effect. I paid January and February, but they sent the March payment back. When I called to find out why, the agent told me that the repayment plan was set up incorrectly by their agent so they canceled it. After a song and dance, I sent two full payments which were subsequently sent back, except I have not received the cashier’s check yet. The next agent told me that the previous agent misinformed me, and she gave me a reinstatement amount and said she would generate a letter with that information. I called four days later to check on the loan modification I had filed after talking to the second agent. Supposedly it was canceled because the borrower is deceased. I am the executor of the estate, on the deed, and have been paying on the mortgage since her death in 2009. Everyone at Seterus up to this point told me it was ok, I was allowed to apply for the modification on behalf of the state. Now this witch told me that was incorrect. She also told me that the “reinstatement” amount previously quoted was incorrect, it was a couple thousand dollars higher, and that the previous agent had not requested a reinstatement letter. Now supposedly I have to pay them $8,000 plus within the next four weeks. I have $4k because that’s what’s in arrears. They refuse to set up a new payment plan, even though it’s their own agent’s fault (the first one who supposedly did the repayment plan incorrectly). I hate these effers. I will definitely use the corporate contact information I see here to complain. I agree with the poster who said that Fannie Mae probably wouldn’t be too happy if they found out their servicers were denying customers the opportunity to catch up on their loans. I don’t think Fannie Mae wants my property although I’m in the middle of doing home improvements. If anyone has any comments or advice, please feel free to share here. I will provide my email address for private discussions if needed. Thank you.

  15. Rachel Says:

    Anyone w issues w seterus NEEDS to contact consumer financial protection bureau!!! File an official complaint! The only time seterus calls me back is when I threaten to file a complaint w them!!! They call me numerous times a day after I make the threat!!! Call them ASAP!!

  16. Angela Says:

    Wow!!! I had never heard of this company so I googled them and got a slew of negative info about them. I had this whole mortgage mess. I had fallen behind in my mortgage payments with Suntrust (I’m sure related to seterus in some way) and the modification process went on for almost 3 years. I just got a letter about a week ago that Suntrust sold the servicing of my mortgage to seterus. If I could have gotten money to just pay Suntrust off, I would have. Thank you Rachel for your advice on contacting the Consumer Protection Bureau. At least I can hit the ground fighting on October 1st!

  17. dot.dot. Says:

    Rollory Says:

    If you can’t buy a house with cash, you shouldn’t be buying a house.

    That’s my position and I’m sticking to it.

    Wow, that has to be the dumbest thing I have ever heard. You have no idea how irresponsible that statment is. Especially in contrast to all the intelligent ones posted before and after. Two words to describe what this country would be like if you ran it: NAZI GERMAY

  18. Dany Hammond Says:

    Seterus is a Servicer with no rights of a Lender. They do not have your Promissory Note which is the only way that they can collect money, declare default, and foreclose. As a Servicer they are (allegedly) collecting for the real person in interest (Holder in Due Course). They can do little else. The laws governing your Promissory Note are the same in all 50 states. The Uniform Commercial Act Chapter 3 (Negotiable Instruments) has been adopted in all 50 states. My State Missouri calls it RSMO 400-3, Title 11 in Georgia. Your state will have it to just Google it. Our website http://www.stopforeclosuremo. com has many answers. You can fill out a form and we will answer questions for free. You have rights. The bad guys have done wrong. All of them. Learn more. Information is Power. Danny Hammond

  19. Northville Says:

    Seterus took money from my escrow to pay my homeowners insurance…their check bounced….we had the money in there. I got hit with a 30 fee for SETERUS’ NSF check. They refuse to credit me my money when it was their fault…they just took an extra 30 from MY account to pay for THEIR check bouncing…..We need a class action law suite.

  20. Cristal Says:

    Seterus is horrible!

    Run! Please run if your loan is with this company find someone else as quickly as you can – they have the worst customer service – they drag their feet on everything unless it’s something they want/need! This company has provided me the worst experience of my life!!! Managers refuse to assist you and you will be told corporate VP’s CEO’s and CFO’s do not take phone calls!
    This was not one occasion with them there were multiple times we had issues – very very sad and horrible! I pray no one else ever has to use or experience their services!

  21. Holly Says:

    I have become behind on my mortgage due to loss of employment. They keep sending me letters that they will be foreclosing on my home unless I pay such and such amount by a certain date. When I try to call and work something out with them because I don’t have the full amount, they will not budge. If I go ahead and send a mortgage payment, they return it because of the “status of my loan.” I am TRYING to pay my mortgage to keep my house, but they will not LET me! In the meantime, I am fearful every time I pull into my driveway that there will be an orange sticker on my front door! I feel like they “own” me. It’s a terrible feeling. I WANT to pay, they just won’t let me unless I pay the full amount.

  22. Loretta Says:

    Oh my god my I just found out my mortgage was sold to these people. My first payment was due February 1st, which I have not sent until I recieve the so called welcome package I was suposed to recieve and as of today I did not get. they informed me everything is the same, my concern is if they bought it for less and will I get the paperwork concerning the amount that was paid to them, don’t I have the right to know how much it was sold for because if it was less then my payment should be less, I don;t know what to expect, heaven help me.

  23. Irene in Michigan Says:

    Holly, bank those payments and when you call them tell them you want to apply for a loan modification. Don’t give up ! Last year I used my tax refund to get caught up. Loretta, call Michelle Patterson directly. She is pretty good about calling people back within a day or so. Her direct number is 503-270-4036. By the way, several of their customer service representatives were arrested and tried for covering up a death they caused in a hit and run accident, so that’s the caliber of people you’re dealing with.

  24. Loretta Says:

    Thank you for responding, I haven’t even made a payment yet this month is suposed to be first payment, however I haven’t made it yet because they were suposed to send the welcome package by the 15th and I gaven’t received anything from them I set up the account online as it doesn’t let me see anything I don’t have a statement saying what my payments are, and when I called they said my account is on hold because they are waiting for the rest of my information from my old mortgage company. ame I right for holding back the payment until I get some kind of paperwork back from them

  25. Loretta Says:

    Here is an update Seterus rep called me last week, I w still owed my original mortgage company for Januarys payment, Now the rep says I have to pay it to them, I got a letter in the mail from seterus saying as of February 1st they take over, so how do I owe them Januarys payment. Also I got the welcome package with no figures on it, a payment stub with no amount to pay, I still can’t access my account online, it seems to me they are hiding the figures, shouldn’t they tell me how much they paid for my mortgage. I can’t get any answers from the morons I talk to thats for sure

  26. Brian Belcher Says:

    You would be surprised at how many different ways they will try to disrupt your payment schedule. We’ve had this same tactic as well as the “only way to electronically pay is Western Union but you entered the wrong account #”, the “your property tax isn’t up to date”, the “payment hasn’t been received would you like to make a payment over the phone (while I was at work) because we applied your payment(including the extra $75 over amount due) to principle”, plus a couple more. At least you got a welcome package. We got only the run-around until the late payment notice came three days after our call to them during which the rep apologized because we were not in their system yet and that we had a 60 day grace-period during the transition. Since this company (at that time called LBPS) is owned by IBM, I went to IBM corp website, selected “contact us”, and gave them a run-down of the fraudulent practices their mortgage servicing subsidiary was engaging in. The next day out of the blue I got a call from an LBPS trouble-shooter who was able to fix it. She even gave me her number, which, by the way, I used for the next few things they tried to pull. Bottom line is good luck to you, and be prepared for never-ending fun.

  27. Irene in Michigan Says:

    Loretta, based on my many experiences, you should send them the January, February, and March payments asap. Buy a cashier’s check and overnight mail it to their Beaverton OR address. If you send them only the January and February payments, they will probably send them back to you because you didn’t send the “correct amount.” Their practice is that, once the 16th of the month rolls around, your next month’s payment is considered due. Then, because you’d be considered 2 months behind, they’ll start sending you letters telling you that they may initiate foreclosure proceedings. I assume they gave you an account number. Be sure to include it on all correspondence and your cashier’s check.

  28. Loretta Says:

    I have been on temporary disability so I fell 1 month behind with citimortgage, so with that said I made the payment for february to seterus, I got a call this morning and I asked if I could make payments on the month I am behind because they said I have to make that payment to them and not citimortgage, she said they could only put me on a 4 month payment plan which would be almost 400.00 extra a month, I of course don’t have it so she advised me to do a modification which I am scared to death to do with them who knows what will happen, she then said my mortgage is due to go into forcloseure by march 26th if I don’t pay it, I said forecloseure for being 1 month behind she said yes, so I have to find a way to get the money up by march 15th or maybe lose my house since I don’t know when I can return to work, this is to much for me to handle

  29. Loretta Says:

    and by the way I got 4 certified letters later today about the possible foreclosure.

  30. Irene in Michigan Says:

    Loretta, check online to see if your state has a “Hardest Hit Homeowners” fund. When I was behind, I applied in Michigan and they paid my past due amount. The process was pretty fast and not too difficult. Here is another website that I just found that might have resources to help you: https://www.ncsha.org/housing-help

  31. Loretta Says:

    thank you for your responce i checked out the Hardest Hit Homeowners fund, they have stopped taking applications, but I did find another website and I will call tomorrow. thank you

  32. Loretta Says:

    Brian what is exact name of the website for IBM, I put IBMcorp.com in and it took me to a marketing site.
    thank you

  33. Lm kaiser Says:

    Ok, ive had it with these assholes!! They are the most incompetent bunch of ninnies I have ever encountered. We need to start a class action lawsuit. They are on purpose going out of their way to avoid the issues. There is no phone number, no contact name. They are sleazebags!! The bottom of the barrel.

  34. Loretta Says:

    Holly can I ask what your status is with these morons, I was able to borrow the 1 month I am behind and now they sent me a statement saying my escrow is short 1,500 it doesn’t end

  35. Lm,kaiser Says:

    There must be some governing department who regulates these low lifes. There must be a dept or heqd of mortgage regulations that we can contact. Seterus is getting away witth murder. They hqve to be stopped.

  36. stephanie Says:

    don’t know where to turn. we are in foreclosure now thanks to them. we were denied loan modification and they didn’t have the courtesy to call and tell me. I called them on the 17th of November and they had the sheriffs sale set for November 27th. not enough time to come up with $9000 dollars. when your’e behind on payments who has that kind of money. I have been calling and asking them to reinstate loan and they inform me they are a loan servicing company not a lender. but when I call the lawyers office they tell me seterus bought the mortgage at the sheriffs sale. what a crap company.

  37. to bakke Says:

    Hi,

    I know I am sending this to a lot of news people but I am hoping at least one can help me.

    My name is T.P.Bakke I live in Roman Forest,Texas.My nightmare began in Feb. 2014.I went to the Tax office to pay my property taxes and was told they had already been paid.I was confused because I always have paid my own Taxes so I asked by whom,They gave me the name of the company Seterus Inc. that has inherited my mortgage from another company.I called them and told them I have no escrow I always paid my taxes.I got the run around being transferred from Tax office to escrow to customer service and all I was told that they received a letter from the tax office saying I was delinquent on my taxes this is after 14 hours on and off phone for a week.I have the phone bill to prove it I want over my 500 min. in 30 days I have talk to these people for over a 1000 hours.I went to the tax office and asked them about the letter.They said they never sent a letter I have no lien holder or mortgage company on file I have always paid my taxes.They printed out proof of this.I called the company back and again could get nowhere I told them they were a bunch of liar’s I has prove and even faxed it to the.I was hung up on for being rude.

    The next thing I know I get a letter from the tax office saying The company’s check came back and I needed to come and pay my taxes plus a 30.00 fee for return check.I went down and paid my taxes with March penalties and ask them how this could have happen and how I could prevent this from happening again they said nothing but try to pay before Feb.I was informed it was a new scam going around they were getting a lot of complaints but they never turn down money for taxes.

    Then I get a letter from the Company saying I now have a escrow and send them around $4000.00.I called the company up and asked them if they were on crack.I told them I paid my taxes after their check was returned and they needed to fix this problem you can not just give someone a escrow.They informed me they already sent a replacement check and sent me to escrow this is still all in March.I get another letter saying my new monthly note was 300.00 plus more than it use to be due to escrow.I called back up and explained to them I am on a budget my house was built in the 70′s and I do not splurge on stuff I do not go out to dinner I pack a lunch and I count my pennies.I got a hold of a supervisor who informed me if I did not make new payment amount come April 1st I would be delinquent.I told them I did not have that kind of extra money a month.I only paid my original monthly note which is 898.99.I was told to fax all my proof over to a correspondence office and I did then A month went by and they said they never
    received it.I told them I have prove they did I ask to speak to someone in correspondence office they said no one speaks to them not even them we just have to wait for a reply.I told them this was a big scam and I cried which I have been doing a lot lately I have called Texas State Attorney General’s office filled out paperwork and nothing.
    I have continued to beg these people to pick on someone else.I have a list of names of people I have been dealing with and I have been promised that as soon as the tax office refunds their money the will close escrow.I called tax office and they told me they had issued the check in May..I called them back and spoke to new supervisor who told me escrow office was not responding to their emails.I told them to walk over to escrow this was bs some one has to be accountable for this.They told me that was not how it worked they would send another email.In between all this from happening get phone calls from collectors saying I am behind on my payment so I have to tell them the whole story and they say so your not going to pay the difference you are behind.I got a alert from my credit that Seterus Inc.has filed as being over due on payment for 3 months my credit score took a dive.I have worked all mt life for my good credit and these people destroyed it for no reason.I cried and have made myself sick over worrying about all this.I called the company again and told them I could not believe what the have done and shame on them.The latest supervisor promised to help me in between my sobs and said she would sent a correction letter to credit bureau and send everything to correspondence office.Saturday I got a certified letter in the mail saying that if I did to come current with all back monies owed which is all the escrow money by Aug.20th they would call my loan and Will have to pay full amount owed on house.I broke down and cried and prayed I do not know what to do any more.I have all doc.backing this up including I have made my monthly payments of 899.99 ever month.I do not know if you can help me but I thought at this point it was worth a try.

    Sincerely,

    T.P.Bakke

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