Georgina Davis:Does anyone see a consumer friendly resolution? Is there any action toward pressuring BOA to behave in a more ethical manner?
You need to send a "qualified written request" outlining your problem. It's a good idea to send it 'return receipt requested'. This specific type of complaint gives you certain rights under the Real Estate Settlement Procedures Act (RESPA) and requires the servicer (who you make your payments to) to investigate and respond to your complaints. Calling does not preserve your rights under this statute.
Here is a link to a sample letter: http://www.nls.gov/offices/hsg/ramh/res/reslettr.cfm
Here is a link to the RESPA, the Federal law that governs the transfer of servicing: http://edocket.access.gpo.gov/cfr_2007/aprqtr/24cfr3500.21.htm
Here is what it says your rights are:
"(5) Consumer protection during transfer of servicing. During the 60-
day period beginning on the effective date of transfer [you say this is 8/6/09] of the servicing
of any mortgage servicing loan, if the transferor servicer [in your case this is TBW] . . . receives payment on or before the applicable due date (including
any grace period allowed under the loan documents) [8/15/09], a late fee may not
be imposed on the borrower with respect to that payment and the payment
may not be treated as late for any other purposes.
(e) Duty of loan servicer to respond to borrower inquiries--(1)
Notice of receipt of inquiry. Within 20 business days of a servicer [B of A] of a
mortgage servicing loan receiving a qualified written request from the
borrower for information relating to the servicing of the loan, the
servicer [B of A] shall provide to the borrower [you] a written response acknowledging
receipt of the qualified written response. This requirement shall not
apply if the action requested by the borrower is taken within that
period and the borrower is notified of that action in accordance with
the paragraph (f)(3) of this section. By notice either included in the
Notice of Transfer or separately delivered by first-class mail, postage
prepaid, a servicer may establish a separate and exclusive office and
address for the receipt and handling of qualified written requests.
(2) Qualified written request; defined. (i) For purposes of
paragraph (e) of this section, a qualified written request means a
written correspondence (other than notice on a payment coupon or other
payment medium supplied by the servicer) that includes, or otherwise
enables the servicer to identify, the name and account of the borrower,
and includes a statement of the reasons that the borrower believes the
account is in error, if applicable, or that provides sufficient detail
to the servicer regarding information relating to the servicing of the
loan sought by the borrower.
(ii) A written request does not constitute a qualified written
request if it is delivered to a servicer more than 1
year after either the date of transfer of servicing or the date that the
mortgage servicing loan amount was paid in full, whichever date is
applicable. [So don't wait too long]
(3) Action with respect to the inquiry. Not later than 60 business
days after receiving a qualified written request from the borrower, and,
if applicable, before taking any action with respect to the inquiry, the
servicer [B of A] shall:
(i) Make appropriate corrections in the account of the borrower,
including the crediting of any late charges or penalties, and transmit
to the borrower a written notification of the correction. This written
notification shall include the name and telephone number of a
representative of the servicer who can provide assistance to the
borrower; or
(ii) After conducting an investigation, provide the borrower with a
written explanation or clarification that includes:
(A) To the extent applicable, a statement of the servicer's reasons
for concluding the account is correct and the name and telephone number
of an employee, office, or department of the servicer that can provide
assistance to the borrower; or
(B) Information requested by the borrower, or an explanation of why
the information requested is unavailable or cannot be obtained by the
servicer, and the name and telephone number of an employee, office, or
department of the servicer that can provide assistance to the borrower.
(4) Protection of credit rating. (i) During the 60-business day
period beginning on the date of the servicer receiving from a borrower a
qualified written request relating to a dispute on the borrower's
payments, a servicer may not provide adverse information regarding any
payment that is the subject of the qualified written request to any
consumer reporting agency (as that term is defined in section 603 of the
Fair Credit Reporting Act, 15 U.S.C. 1681a).
(ii) In accordance with section 17 of RESPA (12 U.S.C. 2615), the
protection of credit rating provision of paragraph (e)(4)(i) of this
section does not impede a lender or servicer from pursuing any of its
remedies, including initiating foreclosure, allowed by the underlying
mortgage loan instruments.
(f) Damages and costs. (1) Whoever fails to comply with any
provision of this section shall be liable to the borrower for each
failure in the following amounts:
(i) Individuals. In the case of any action by an individual, an
amount equal to the sum of any actual damages sustained by the
individual as the result of the failure and, when there is a pattern or
practice of noncompliance with the requirements of this section, any
additional damages in an amount not to exceed $1,000.
(ii) Class actions. In the case of a class action, an amount equal
to the sum of any actual damages to each borrower in the class that
result from the failure and, when there is a pattern or practice of
noncompliance with the requirements of this section, any additional
damages in an amount not greater than $1,000 for each class member.
However, the total amount of any additional damages in a class action
may not exceed the lesser of Sec. 500,000 or 1 percent of the net worth
of the servicer.
(iii) Costs. In addition, in the case of any successful action under
paragraph (f) of this section, the costs of the action and any
reasonable attorneys' fees incurred in connection with the action.
(2) Nonliability. A transferor or transferee servicer shall not be
liable for any failure to comply with the requirements of this section,
if within 60 days after discovering an error (whether pursuant to a
final written examination report or the servicer's own procedures) and
before commencement of an action under this section and the receipt of
written notice of the error from the borrower, the servicer notifies the
person concerned of the error and makes whatever adjustments are
necessary in the appropriate account to ensure that the person will not
be required to pay an amount in excess of any amount that the person
otherwise would have paid.