Countrywide Financial - Transferred Mortgage and didnt send letter.
Countrywide mortgage sold/transferred my Mortgage 5 months ago / April 2008 and never sent me a letter (which is required by law that they do so within 30 days of transferring a mortgage).
Meanwhile, I was sending my payments to them and they were gladly accepting them and not forwarding them to the new lender. The new lender did send me a letter stating "welcome back" with an old account number but it was ignored due to the fact that it mentioned nothing about my mortgage being sold to them from CW Mortgage.
I then got a letter from my current lender stating an "intent to foreclose" if i did not come current with payments. I called CW and they informed me that they indeed made a mistake and that it would take them 30 + days to do "reasearch" and get the funds over to the new lender. Meanwhile, this negativity went on my credit report and CW took every bit of 30 + days to forward all those payments to the new lender.
CW has poor customer service, you can hardly ever reach a Customer service rep, the automated customer line disconnects your call. They messed up my escrow account once they transferred it over to the new lender and that took over a month to get that straightened out as well. All i got was a verbal apology and that was it.
I spent countless hours on the phone trying to resolve this. I filed a complaint with Fed. Trade Commission who opened and investigation on CW.
This is an unacceptable way to conduct business. Anyone who has CW mortgage please contact them to see if you mortgage is still active with them and if not, please ensure that they have forwarded all funds necessary to bring your account up to par with your new lender.
This was very stressful to deal with and I can't tell you how many countless hours I spent on the phone trying to resolve this. I can name every one in their customer serv. dept; becuase i spoke to them ALL.