Check out this stry about americas servicing company. Basically they said in this stry that americas servicing company was very helpful in their mortgage servicing.

Enjoy

I have a 2/28 arm loan with a first addjustment in March 2008 and every six months afterwards. Iam expecting my first adjustment to bring my loan up by over 1100 a month. I am current with my mortgage payments, I was never late. My concern is when my mortgage payment will jump I definetly know I will not be able to keep my payments current. My mortgage servicer is America’s Servicing Company aka Wells Fargo . I have read many negative information on both companies on various forums. Honestly I have never had a issue with them. I feel very comfortable the way my payments are being processed and posted to my account. Yesterday I have recieved a very interesting letter form Asc Aka wells fargo about my good handling of my mortgage payments and to let me know that my arm will adjust soon. They are offering me “options” to better meet my financial needs. I contacted their 800# and talked to a financial advisor which asked me many financial questions like: income,credit card payments. car payments, savings, household expenses etc…. She took all my information and told me to call their “arm” mortgage specialist to discuss my options and I need not to worry because they will try their best to help me stay in my home. I will call them later today .One option available is refinancing. I have tried to refinance but I wasn’t able to to due to the fact I have very little equity in my home (3%). Home values in my area have dropped significantly and it seems not to get any better.

I was wondering if anyone else has recieved a letter similar to mine by their mortgage lender or have tried to contact their lender regarding their arm?
If so what were your options?

I want to add if you know that your mortgage will adjust , contact your lender asap to sicuss your options before its too late. Have all your financial situation available to share with them. Be honest about everything and show them that you care about your home and you have intention on living there for a while.
Im sure many options are now available , because lenders prefer to keep you as customers and not take your home.
I will keep you posted on my situation once I make the phone call later on today.

Heres all the information you need to contact americas servicing company.

Some More information from america servicing company.

America’s Servicing Company (ASC) appears to be a the mortgage servicing subsidiary of Wells Fargo. We located a website and six phone numbers for Americas Servicing Company along with a number of complaints.

America’s Servicing Company Website and Phone Contact Info.

America’s Servicing Company Website: https://www.ascservicing.com/
America Servicing Company Phone Number:

866-674-1430
866-567-8439
800-842-7654
866-567-8440
866-426-5569

Fax: 866-453-6315

America Servicing Company Loss Mitigation Dept.: 877-222-7875
Authorizations Fax : 612-312-3905 and 612-312-4951

Address: 1 Home Campus, Des Moines, IA 50328

Additional Addressess and Phone Numbers:

FOR NON PRIME LOANS:
877.222.7875
opt. 1 — Customer Service (M-F 7a-8p; CST)
opt. 2 — Collections (M-F 7a-10p; Sat 8a-2p CST)
opt. 3, then opt. 1 — Foreclosure Dept (M-F 7a-7p CST)
opt. 3, then opt. 3 — Bankruptcy Dept (M-F 7a-7p CST)
opt. 4 — Loss Mitigation — (M-Th 7a-9p; F 7a-8p ; Sat 8a-12p CST)
opt. 4, then opt. 2 — Spanish Loss Mitigation (Same as abv)
opt. 6 — Loss Mitigation for MULTI LOAN ACCOUNTS (Same)

CUSTOMER RESOLUTION:
Fax # — 866.278.1179
Address:
MAC X2504-014
1 Home Campus
Des Moines, IA 50328

LIQUIDATION:
tele# — 866.903.1053
fax# — 866.359.1975

3RD PARTY AUTHORIZATIONS:
fax# — 866.917.1877

HOPE FOR HOMEOWNERS:
tele# — 866.796.1190

SENDING DOCUMENTS TO LOSS MITIGATION:
address:
America’s Servicing Company
MAC X7801-01H
3476 Stateview Blvd.
Fort Mill, SC 29715
866.590.8910 — fax# for documents

if you have a prime loan call the (CLIENT #708):
800.416.1472 — tele#
866.359.7363 — fax#

Lets first understand what is a loan servicing company.

“This is a process by which a mortgage bank or sub servicing firm which collects timely payment of interest and principal from borrowers. The level of services depend on the type of loan and the terms negotiated b2n the firm and investor seeking their services.

Mortgage servicing became very very profitable during the housing boom particularly by targeting borrowers who were less likely to make payments in order to collect more late fees.

Quoting wikipidia this is how it works.

Servicers are normally compensated by receiving a percentage of the unpaid balance on the loans they service. The fee rate can be anywhere from one to twenty five basis points depending on the size of the loan, whether it is secured by commercial or residential real estate, and the level of service required.

The net present value of the flow of payments received from servicing less the expected costs to servicers creates an asset which remains on the balance sheets of servicers. Since in refinancing periods loans are often quickly prepaid and hence servicing fees cease, the value of these assets is extremely volatile.

There are economical loan servicing products that can also be purchased.”

some of the companies involved include.

Bank of America, Wells Fargo, JPMorgan Chase, and Citigroup

Americas Servicing Company is a dba of Wells Fargo Home Mortgage, Inc. and of Wells Fargo Bank, N.A., which was purchased by Norwest Corporation in 1998.  America’s Servicing Company is a mortgage loan servicer and a loan servicing operation of Wells Fargo and Company steeped in charges of Predatory Servicing and Unfair and Deceptive Trade Practices and evading State and Federal regulation, including misconduct by the Office of the Comptroller of the Currency which knows of its’ existence yet conceals it from the public.  This website chronicles Americas Servicing Company and Wells Fargo operations, gives inside contact information, background, and documentation, and follows the case Heinrich v. Americas Servicing Company, Wells Fargo,et al which has accused it of fraud and criminal racketeering and is asking for substantial recovery and penalties as well as affirnative and declaratory relief to bring the alleged fraud, deceit, predatory practices, wrongful foreclosure operations and undue enrichment to an end. It is a fascinating story of the use of derivatives and massive bank money manipulation, hiding and moving around debt securities to the extent that banking industry created its own system, the Mortgage Electronic Registry System, MERS, to be a straw and ficticious mortgagee in the manipulation of beneficial ownership rights as well as mortgage servicing rights, and how Wells Fargo and Americas Servicing Company are fronts for an incredibly large marketing operation, and are subject to the case FTC v Select Portfolio, et al but have been able to sidestep same through legal manipulations and maneuvering until now.  This site uncovers who, how, and why these wrongful practices came into existence and helped cause monetary chaos and financial collapse, including how Wells Fargo came into ownership of Wachovia, and how HSBC really is an Asian bank and also involved in the scheme.

What is a mortage servicing company

This is a company that handles daily servicing of a loan basically no matter what happens to a loan the mortgage servicing company gets to take a percentage of the loan probably .5 percent.

This servicing companies would usually target people who couldnt make payments on time during the boom. When everyone and their mother could buy a house.
They would make it hard to completely contact the companies and of course somehow after 15th of the month it would be easier to talk to the company.

After they receive payments the mortgage servicing company or loan servicing company credits those payments and then sends out a new payment.

The loan holder must be notified within 15 days of the loan changing hands and a grace period is extended just incase the borrower send a payment to the previous company with a grace period of 60 days.

usually this is good business but in some instances the mortgage servicing company comes into problems with collections meaning extra fees for the company which may include upto 100% of the late fee as it can be quite problematic.

Should it continue they are required to even go for foreclosure which isnt the one thing everyone is out to do.

Hey there.You can get all the information you want about americas servicing mortgage company below. Leave a comment if you have more information. Thanks Nick.