BlueRanger978
New Member
Im applying for a loan. I divorced 3 years ago. My house almost went into foreclosure, I had 2 mrtg's. The house was sold and closed on June 2nd. I received a HUD-1 within a week or two. I received notification from Mrtg. Co. #2 on June 21 stating foreclosure sale July 14th. I notified closing attorney she called me back two days later and said the HQ. of Mrtg Co. #2 didn't communicate the sale and pay-off to their attorneys and that all is well everything is paid off.
I have received from Mrtg. Co. #1 the Certificate of Satisfaction, Promissary Note and Deed of trust as well as two refund checks. From Mrtg Co. #2 I received Deed of Trust stamped, signed and dated stating Paid and Satisfied and the Retail Note and Secuirty Agreement it too is stamped, signed and dated stating paid and satisfied.
The Mrtg. Co. that I'm attempting to get a loan with ask me to get a letter from both of the old Mrtg. Co's. stating that there is no Short Pay (some of the new banking regulations).
Mrtg. Co #1 said I have the proof by the certificate of satisfaction and the two refund checks I received. My new Mrtg Co is satisfied with this.
Mrtg. Co. #2 said that there was a Short Pay of just over $500. When I inquired why I was not notified, the branch mngr said, "There was a lot of miscommunication. (I have been banking with the bank for many years at the exact same branch of which the mngr I speak of is the mngr.) When I inquired of her why 2 yrs. and 3 months have past and this is just now being brought up when I need a letter of statement of no short pay etc. She said there was a lot of miscommunication.
I called the closing attorney of the old marital property, she said she paid what was quoted to her by the bank and ask if I received from Mrtg. Co. #2 the Deed of Trust and the Retail Note and Security Agreement stamped with paid and satisfied signed and dated. I said yes, she said you do not owe anything else.
Again I called back Mrtg Co. #2 branch mngr. and inquired how her company was short paid, she said the closing attorney called another branch and they quoted the incorrect amount, so it is a short pay. She said I can pay the $500+ and she would write a letter stating the account is paid and satisfied.
Is this something the branch mngr. is going to have to just accept as a loss and that the Co. made the mistake? Is what she doing a violation of law. If there is a short pay why did the Hq. Office of this company send the Deed of Trust and the Retail Note and Security Agreement, stamped with paid and satisfied signed and dated?
I'm looking for any direction of help I can get.
I have received from Mrtg. Co. #1 the Certificate of Satisfaction, Promissary Note and Deed of trust as well as two refund checks. From Mrtg Co. #2 I received Deed of Trust stamped, signed and dated stating Paid and Satisfied and the Retail Note and Secuirty Agreement it too is stamped, signed and dated stating paid and satisfied.
The Mrtg. Co. that I'm attempting to get a loan with ask me to get a letter from both of the old Mrtg. Co's. stating that there is no Short Pay (some of the new banking regulations).
Mrtg. Co #1 said I have the proof by the certificate of satisfaction and the two refund checks I received. My new Mrtg Co is satisfied with this.
Mrtg. Co. #2 said that there was a Short Pay of just over $500. When I inquired why I was not notified, the branch mngr said, "There was a lot of miscommunication. (I have been banking with the bank for many years at the exact same branch of which the mngr I speak of is the mngr.) When I inquired of her why 2 yrs. and 3 months have past and this is just now being brought up when I need a letter of statement of no short pay etc. She said there was a lot of miscommunication.
I called the closing attorney of the old marital property, she said she paid what was quoted to her by the bank and ask if I received from Mrtg. Co. #2 the Deed of Trust and the Retail Note and Security Agreement stamped with paid and satisfied signed and dated. I said yes, she said you do not owe anything else.
Again I called back Mrtg Co. #2 branch mngr. and inquired how her company was short paid, she said the closing attorney called another branch and they quoted the incorrect amount, so it is a short pay. She said I can pay the $500+ and she would write a letter stating the account is paid and satisfied.
Is this something the branch mngr. is going to have to just accept as a loss and that the Co. made the mistake? Is what she doing a violation of law. If there is a short pay why did the Hq. Office of this company send the Deed of Trust and the Retail Note and Security Agreement, stamped with paid and satisfied signed and dated?
I'm looking for any direction of help I can get.
