Complaint Review: Borrowershelp.com - Baltimore Maryland

Here is an email rec'd yesterday from W. Craig Kenny. See for yourself his intentions.

LA_Bill

Bill: Yes, I have heard from many who saw your posting on Rip-off Report.Com. Brian is flying now and I am taking the weekend off. And I am getting a lot of hate mail. Below is the email that I return. There are various versions depending on their current situation:

I guess by now you realize I have buried the hatchet with Fairbanks. Actually it is buried with PMI and FSA, Fairbanks' principal shareholders. In effect there is no more Fairbanks as we once knew it. Basmajian and Garland have been dismissed. Others are being dismissed daily. The very first suggestion I made on May 23rd was that the OWL had to go. Two hours later it was removed from their website. It is now being removed from printed material and will soon be removed from their buildings. I know that removing the OWL is only symbolic, however it showed me that PMI and FSA are committed to changing the company in every respect.

I have done what I have done for two reasons and two reasons only. First, PMI, from Roger Haughton, (PMI's CEO), on down and I are now on the same page. Second, if Fairbanks should fail there would be absolutely nothing for anyone to get. The loans would simply be sold to another servicer with all of the problems attached. Unsecured claims from borrowers against Fairbanks would only be on a list in the Bankruptcy Court and would get 0 on the dollar. Frankly in my mind this is not the answer and is completely contrary to everything I have worked for in the past 2 1/2 years. Putting Fairbanks out of business does no one a bit of good. Sure, some might get a great deal of pleasure seeing the company fail. However the pleasure would be short lived, for the very next day the problems would still be there. I hope you understand what I am doing. I have given everything but my life for this cause, I have nothing more to give except work within the new framework to see that it never happens again with Fairbanks or any other servicer.

It is way to early to know exactly how I can help the individual borrowers, like yourself, who have supported me for so long. I receive hate mail daily from some who see my decision as being a trader. These are the ones who forget that my mission has at least stopped the abuse and offered a glimmer of hope for redress. And again, if Fairbanks should fail there would be nothing for you or anyone else, just a new servicer trying to collect the fees Fairbanks added and a new set of problems. All I can tell you is I am still working 14 hours a day to try to help. On a go forward basis I was offered a retainer to help resolve the problems. The retainer was for more money then I have every made in my life on an annual basis. I turned it down. However the lawyers would not let me do it for free, so I settled for a dollar per year. The fact is you can't buy an advocate, so I am not for sale.

As we go forward I am going to work as hard as I can for you and everyone else. But is going to take time. There are over 100,000 loans that need to be looked at, so please be patient. I'll keep you posted.

Here is a number you can call. 1-800-905-4797. I have called it three times and got a live human each time, although the way it is set up now you have to go through way to many menu options. Please call the number and let me know how they treat you, it is very important to me to know. There is also a special email set up: [email protected] give is a try also.

Craig

LA_Bill

Los Angeles, California
U.S.A.