Countrywide Home Loans-Equity Stripping

The National Mortgage Complaint Center met with borrowers of Countrywide Home Loans in Compton, California who were all African American, and all were getting offers to refinance their mortgage every two or three weeks from Countrywide. The letters offered, "no appraisals-no credit checks & you get $10,000." Upon inspection the National Mortgage Complaint Center determined the loans were costing these homeowners $20,000+ in mortgage fees-including what they called a "loan discount fee." Some of these minority homeowners had refinanced more than one time, or more using this scheme. The National Mortgage Complaint Center considers this equity stripping, and would like to hear from any homeowner in California, or any other state who received numerous letters from Countrywide Home Loans-offering a very easy refinance-after the borrower already had a loan with Countrywide Home Loans. For more information please call 866-714-6466.

Junk Title Insurance Fees

The National Mortgage Complaint Center is currently investigating all major national title insurance companies related to the following issues:

• Major Title Insurance Company Courier Fees

• Were homeowners who were refinancing their mortgage told about a reissue rate-that would have allowed them a discounted title insurance fee?

• The National Mortgage Complaint Center wants to hear from mobile notary's who may have information about title insurance companies up-charging their mobile notary fee.

• The National Mortgage Complaint Center wants to hear from real estate agents about real estate brokers insisting that the agent only use a specific title insurance firm because the were receiving kickbacks-perhaps in cash.

• For more information please contact the National Mortgage Complaint Center at 866-714-6466

Loan Servicing
Forced Placed Insurance & Homeowners Who Already Had Insurance

The National Mortgage Complaint Center is increasingly becoming aware of large mortgage servicing companies, or banks forcing homeowners to pay for a special type of homeowners insurance coverage called "forced placed insurance." The problem---the homeowner already has homeowners insurance coverage. If a homeowner has been forced into accepting a very exotic & costly type of homeowners insurance called "forced placed"-when the homeowner already had their own property casualty homeowners insurance policy, they should call the National Mortgage Complaint Center immediately at 866-714-6466