ASC Servicing and ASC mortgage servicing are both owned and operated by the same company. This company is called America’s servicing company and originated giving non-prime loans out to customers to finance real estate in the form of a mortgage. Many investors got together and formed a company called ASC to give servicing and mortgage servicing to their current customers.
In 2005, ASC mortgage servicing started experiencing customer service problems. Many complaints were made to the Better Business Bureau about ASC servicing and their poor customer service. America’s servicing company soon had to find a solution to their problem.
I’m not sure what year it happened, but a big bank named Wells Fargo ended up getting hired to take over ASC mortgage servicing customer service. Since ASC was not servicing their mortgages properly, Wells Fargo’s own mortgage Corporation’s expertise was brought in in order to complete the job.
You no longer have to worry about ASC servicing your mortgage loan. Customer service has now been taken care of by hiring Wells Fargo. Almost all phone calls are returned within a 24-hour period when it comes to ASC mortgage servicing your individual loan. At worst case, if you call on a non-business day, such as Saturday or Sunday, you may have to wait until the following Monday or Tuesday to receive a phone call about servicing your ASC mortgage.
America’s servicing company was created to help give American people a chance of home ownership that did not have good credit. Their intentions were good when they started servicing and creating non-prime loans. They do charge higher interest rates to their customers, but that was because they were at a higher default risk than someone with good credit.
It all went downhill when ASC servicing did not perform a a good job when it came to servicing their own mortgages. ASC knew they had to do something about their mortgage servicing department, so they decided to bring Wells Fargo in. This was probably the best decision that America is servicing company ever made a choice in the entire history of the company. So many customers are much more satisfied now that Wells Fargo handles all of ASC servicing and ASC mortgage servicing loans.
Many home loans must be paid by the 15th of each month in order to avoid late fees. If you are receiving phone calls from Wells Fargo home mortgage or ASC mortgage servicing company, they may just be calling to inform you it is time to pay your bill. Many times a ASC servicing will not wait until the 15th to call you. The payment is actually due on the first, but as a grace period and a courtesy from ASC, late fees did not start until the 16th.