Fair Lending Survey
Ohio Fair Lending Coalition and
Toledo Fair Lending Center
Surveys Represented: 21
Organizations Represented: 13
Organization Demographic
Metro Homeownership Center Stark, Wayne, Tusc., Holmes County
Greater Cleveland/Cuyahoga, Lorain, Erie,
NHS of Greater Cleveland Huron, Medina
Stark, Tuscarawas, Carroll, Wayne, Holmes
Stark Metropolitan Housing Authority County
Lima/Allen Council on Community Affairs City of Lima and Allen County
HOC Greater Dayton Southwest Ohio/Mid West/Dayton
ESOP Entire State/Cleveland/Ohio
Fair Housing Contact Service Summit, Portage, Medina Counties/
Cuyahoga, Medina, Lorain, Huron & Erie
NHS of Greater Cleveland County
Cleveland Housing Network Greater Cleveland
Lima allen council on Community Affairs Lima
Mid-Ohio Regional Planning Commission Franklin County
Geauga County Community & Economic
Development Geauga County Ohio
City of Cuyahoga Falls Cuyahoga Falls, Ohio
Bank of America
Comments
They are pretty clueless when it comes to understanding the needs of
their clients
I personally do not work with this lender, although others within my
organization do.
Not sure
Clients are denied for Net Present Value or some other reason that no
one seems to understand. What I think should be a no brainer loan mod
will come back as a denial. They request the same document multiple
times, even when submitted via the portal.
Servicing is disorganized. It's very hard for Counselors to get through
phone system; no way of contacting Advocacy department.
It typically takes BofA over 12 months to decide whether or not to grant
a loan modification. Loan modification almost always contain egregious
terms, like adding huge lump sums to the principal balance without
providing a breakdown of what the amount is.
My only experience is the complaint this company will not work with the
consumer.
CitiBank
Comments
No Citibank customers were serviced.
I personally do not work with this lender,
although others within my organization
do.
Not sure
Same complaint - company will not work
with the consumer. Pay up or we will
foreclose
JP Morgan Chase
Comments
No JP Chase bank customers were serviced
Chase used to be easy to work with. Now I can't get a single
file easily approved.
I personally do not work with this lender, although others
within my organization do.
Not sure
Process drags on - you are always told it is with the
negotiator but you cannot reach the negotiator to discuss.
You are constantly transferred from one department to
another only to be disconnected or get a message that
someone will return your call and yet they never do.
Like Bank of America, it's hard to speak with anyone who
can provide detail regarding file. The different departments
can't read each other's notes, so you end up getting
transferred a lot of times.
No experience
Wells Fargo
Comments
I personally do not work with this lender, although others within my
organization do.
Not sure
Even after modification has been offered, signed and returned - the billing
and collection still continues at the pre-modified amount as though nothing
has occurred. Modifications are rarely if ever returned to clients after
recording. Most clients are offered forbearance plans that are supposed to lead
to modification but only leads too another forbearance with a huge lump sum
due at the end of the plan. They constantly "cannot locate" authorizations or
the paperwork that was submitted.
Their upfront screening discourages many borrowers from apply for assistance
even after the primary reason for delinquency has been cured.
Try to get my consumers to go to any other company.
Rating of Servicers by Housing
Counselors
Comments
Generally speaking, most of the time solutions
are offered much too late, when delinquency is
beyond minor monetary assistance
Ocwen will work with borrowers.
Ocwen - Great The only lender now doing all of
the above and quickly
IndyMac is the worst of all the lenders, and
Bank of America is the second worst.
Thank You!
To All the Hard Workers Behind the Scenes of
the Survey Monkey Project and Housing
Councelor Participants who participated in the
Survey.
Any Housing Councelors interested in taking the
survey? Here is the link….
https://www.surveymonkey.com/s/OHbankfor
eclosuremodsurvey