Americas Watchdog’s National Mortgage Complaint Center Wants To Hear From Mortgage Servicing Employees About Homeowner Payment Abuse

Americas Watchdog’s National Mortgage Complaint Center is launching a national investigation into major US banks, or major loan servicing companies abusing homeowners, by asking current and former employees to step forward and tell the truth. According to Americas Watchdog, "we want to talk to current and former employees of mortgage loan servicers who have specific information about US banks or mortgage servicing companies intentionally showing borrowers as late, when they were not, adding phony or inflated legal fees onto a borrowers monthly statement, when little or no legal work was really done, and intentionally adding late fees after the borrower actually paid". The group says, "we know this was, and is still going on, and we want current and former employees with courage, to step forward and tell the truth." Current or former bank or loan serving company employees can call the National Mortgage Complaint Center anytime at 866-714-6466 or visit their web site at Http://NationalMortgageComplaintCenter.Com.

(PRWEB) November 3, 2008 — According to Americas Watchdog’s National Mortgage Complaint Center, "it’s not a question of if US banks and mortgage servicing firms are gouging US homeowners, the question is by how much, and will a current or former employee have the courage to step forward with the details, about home loan servicing abuses? We know that phony late fees, phony legal fees, phony administration fee abuses in loan servicing are wide spread, and we know all banks and mortgage servicing firms are deeply involved in widespread consumer fraud, and overcharging. We need a hero to step forward to give us the mechanics of loan serving abuse". Current or former employees of US banks or loan servicing firms that have proof of home loan servicing borrower abuse can call the National Mortgage Complaint Center anytime at 866-714-6466 or visit their web site at Http://NationalMortgageComplaintCenter.Com.

The National Mortgage Complaint Center says, "three years ago we met with the general counsel of one of the largest US mortgage lenders and he said, you would not believe how screwed up our mortgage servicing unit is. He then proceeded to tell us, that everyday thousands of US homeowners fax us proof their loans are current. Rather than get these documents to the correct customer service representative, we shred the faxes".

Americas Watchdog says, "people are losing their houses, or they are being charged for late payments when they never were late, inspection fees for inspections that never occurred, or they are being charged huge legal fees when little or no actual legal work was done. Its wrong, and we need to hear from insiders to put a stop to this. We are especially interested in hearing from employees working for the largest US banks and mortgage servicing firms. They can call us any time at 866-714-6466".

Common Loan Serving Scams Include:

* Telling a borrower they are late when they are not, in order to add unwarranted late chares or legal fees.
* Charging borrowers based on estimated rather than actual fees and expenses.
* Putting a borrower into forced placed insurance when the homeowner has a current homeowners insurance policy.
* Misapplying a borrowers mortgage payment to reserves, rather than principal and interest, and by doing so showing the borrower as late.
* Failing to pay a borrowers property taxes or insurance on time putting the borrower in a bind with their county tax assessor, or forcing a cancellation of a borrowers homeowners insurance policy.

Current or former employees who have specific information about US banks or home mortgage loan servicers cheating US homeowners either intentionally, or through negligence should contact the National Mortgage Complaint Center at 866-714-6466. According to Americas Watchdog, "we need honest people in the mortgage servicing industry to step up to the plate to help desperate Americans who have been cheated." The National Mortgage Complaint Center’s web site is located at Http://NationalMortgageComplaintCenter.Com

Americas Watchdog and its National Mortgage Complaint Center are all about consumer protection and corporate responsibility.

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For the original version on PRWeb visit: http://www.prweb.com/releases/2008/11/prweb1555304.htm

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