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Posted: Sat Jul 12, 2008 10:43 am Post subject: Paid In Full?

My wife and I sold our rental house in December 07. Our mortgage company sent us a letter stating the mortgage was paid in full, and in late December issued a refund from our escrow account. Our homeowners insurance was also paid via our escrow account through the mortage. When we paid off the mortgage the insurance was cancelled and the refund sent to WaMU our mortgage company. They received the refund in April 08. We have called them 4 times over the past six months to inquire about our refund. Now they claim we owed unpaid fees from 2003 that just happen to be the exact same $473 that they owe for the insurance refund. When I log into my account online these fees were added to our account 4 months after the loan was paid in full, and 2 weeks after the insurance money was credited back. Online it lists the fees as Corporate Fees.

I beleive this to me bank or mortgage fraud. We are not having any luck with customer service. Does anyone have any suggestions or contact info for a WaMu executive?

Thanks

evolovik26 · Posted: Sun Jul 13, 2008 8:25 pm Post subject:

id suggest you contact WAMU escrow department to figure out why they believe you owed them $$ and show you proof also send them in your proof
it is kinda strange that they doing this.

Samantha · Posted: Mon Jul 14, 2008 4:34 am Post subject:

I agree with Eugene here. Until and unless you have a talk with them nothing can be said, though it looks to be a fraud - i mean why wouldn't you get the refund?

I'm not quite sure about the Corporate Fees etc. These are something that only Wamu or any other lender can explain. So, talk to Wamu escrow dept. asap.

Hope this helps...

God bless you.

Samantha

gmakerley · Posted: Mon Jul 14, 2008 9:01 am Post subject:

a little odd to think there is fraud involved, inasmuch as a company as large as Wamu ought to be able to forgo "corporate fees" of $473 that supposedly were incurred after your loan was paid in full.

i'd make this a real issue for them, and don't forget that there are federal regulatory agencies that will assist you in your quest for your money.

Guest

They have terrible customer service to begin with. But we have done everything in our power to get a viable explanation. Including speaking with a senior customer service supervisor.

I believe it to be fraud because the charges were added a short time after the insurance refund was added to the account, and the charges are for the exact amount of the refund. And becuase we were never notified thy were using the refund until we question why we had not received it. And because it was over 4 months after the account was settled.

What federal agencies are referring to?

Niicss · Posted: Mon Jul 21, 2008 5:25 am Post subject:

Welcome Guest.

Are you the original poster? It looks like you are the original poster who has posted the question above. By the way, you can file complaint for this mortgage fraud with the Federal Trade Commission or even with attorney General's Office in your state but first I shall suggest you to consult with an attorney.

evolovik26 · Posted: Mon Jul 21, 2008 10:02 pm Post subject:

Thing is WAMU is in big time turmoil right now. They have fired more them half of the people that worked for them on the mortgage side. Mistakes will happen. So if you feel you are owed $$ you will need to jump through some hoops to get it.

Guest

I would check your original mortgage offer terms and conditions.

I was CEO of UK national mortgage brokerage and had similar questions from some of my clients.

You may have a condition that says ie: if you repay your loan early then you repay interest if you had a special deal or there is simply a fee tied in if you redeem your mortgage.
This is normally the case because maybe there are legal tansactions that need to take place to transfer the deed completly into your name/s.

Hope this helps.
If you need any other assistance email me at: "admin@earlymortgagepayoff.net"

[Email address deactivated as per forum rules. Thanks.]

Guest

I found an executive customer service phone number via a google search. After several phone calls they finally agreed to refund the remaining insurance premium. They still did not have a satisfactory explanation as to why they attempted to keep the refund to begin with. I am convinced it was fraud, and I wonder how many other people they have done this to.

I will never do business with WaMu again. Others would be wise to steer clear as well..Thats my 2 cents.

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Paid In Full?