Americas servicing Co is an abbreviation for company called America’s servicing company. America’s servicing co has gotten a bad reputation during the middle of the 2000 era. They issued many loans to people in the non-prime market.
If you obtained alone in a non-prime market, this means your credit was probably not that good. America’s servicing Co was one of the companies created by investors to give people that did not have good credit a chance to own the home by giving them a mortgage.
Many of these mortgages ended up in foreclosure and not being paid by the people the money was lent to. This is become a huge part for the recession in the United States of America that began in 2008. If you have a mortgage from America’s servicing Co, you don’t have to worry anymore about getting decent customer service.
A few years ago, a company called Wells Fargo home mortgage took over all of America’s servicing Co’s loans for mortgages. Wells Fargo has a great track record of wonderful customer service over the years, which is the reason they were sought out to handle all of ASC’s mortgages.
I have literally read dozens and dozens of complaints about America’s servicing company and how horrible their customer service used to be during the years of 2005 and 2006. People would complain of never being able to talk to an actual person and always getting some automated system that they could never reach anybody. Customers also complained about fees being charged each month by America’s servicing Co for basically no reason. They would charge money each month just to make an online payment, which many customers considered an insult.
People’s home mortgage loans would get sold to America’s servicing Co, which they had no control over. When the loan did get sold to America’s servicing company, they had to deal with the horrible customer service that America’s servicing Co offered to its customers.
If you have problems in the past, you may check on pending lawsuits that are against America’s servicing company. I have heard some money has been awarded to previous customers for illegal practices by the company. You will have to check and see what the current status of the lawsuits is. If you do need great customer service from America’s servicing Co, you are in luck because Wells Fargo now handles all customers from ASC’s mortgages.