Elizabeth
McHenry,,#2Consumer Comment
Mon, August 19, 2002
I know, I've been waiting for over SIX years. My mortgage was sold to Ocwen in March of 1996. I was only given their address and costumer service number, no contact person. I explained the letter I received from HUD saying they sold my mortgage to Ocwen. I requested all my loan information including the new mortgage contract for me to sign. All I received was a first monthly billing statement, 21 days after it was due no less, and nothing else. I have attempted over the years to obtain this information, but have never succeeded. This violates federal banking laws. Your situation puts both FUNB and Ocwen in violation of federal banking laws. In simple terms, the laws states that any institution that sells or transfers a mortgage loan must notify you within no less than 15 days prior to the sale/transfer. It also states that the new mortgage lender/servicer must contact you within 60 days after with written documentation regarding the new loan, and must be in the form OTHER than a monthly billing statement. One way for you to determine who has been receiving your payments is by your IRS Form 1098. If you have been sending money to both FUNB and Ocwen, they both by law are required to send you a Form 1098 to for the purpose of filing your tax return. Hope this helps you some.