A report from the trenches.
Today my staff called Bank of America to follow up on a loan modification which had been in pending status. She reached a call center and provided the loan information to the person answering the phone with the social security number, name of client, etc. The representative stated that they could not locate this loan. They checked and double checked and could not find the loan. So we asked to speak with a Supervisor. A supervisor came on the line and they checked their computer system as well. We pulled out the actual mortgage payment coupon and recited the information to the Supervisor. The Supervisor could not find the account either. They insisted that our customer did not have a Bank of America loan.
It occurred to my very experienced and wise staff member that perhaps the person that she reached for Bank of America did not have the same access to computer information as the state-side customer service representatives. She asked the supervisor, "What country are you in?" The supervisor replied, "Indian.!" She thanked them for their time and hung up.
Staff member calls another Bank of America number and reached a state-side BofA. They had NO TROUBLE locating the account or the status.
What is appalling to me is that my clients will call their bank to ask about status of loan modifications and they bank will say that they have never even heard of our law firm. The client will come to our office incensed that we have taken their money and have done nothing. They sit down with us, and they review their file, their chronological log of activities, the faxes, fax confirmation sheets and letters and are equally shocked and appalled that their bank has LIED TO THEM about our company. In fact, when a client comes to my office, we sit down with them and call the bank at that moment so they can confirm that they have in fact received our letters and they know who we are AND the client can complain to the bank about the sorry and incompetent Bank representative who lied to them previously.
Now I caution every reader not to think that the banks are just lying. It is possible, if not probable that they just don't have access to the same information that the Home Retention Departments have in comparison to that which Customer Service has.
It has also been my experience that when I have called to get a loan modification, I will have one customer service representative tell me client does not qualify. Then I will call back and get another representative who says they have been "Pre-Approved."
If one can imagine, this is maddening a law office to try to do business in this environment of deception and incompetence. If you are struggling with your loan modification, you must document every phone call. Get the name and identity of the person that you spoke with and get a fax number where you can fax a letter confirming the conversation you had. Otherwise you will never be able to prove you had conflicting information provided to you.
I would also urge you to document your complaints about your bank and contact your Senator or Congress member and show them that the BANKS HAVE LIED about their willingness to help homeowners stay in their homes.
