Consumer complaint received 2018-01-31
Company: Ditech Financial LLC
State: AZ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Hello, I am writing to complain about my mortgage that was being serviced by Ditech Mortgage and then sold to XXXX  XXXX XXXX. My mortgage was sold in XXXX by Ditech. My payments were being auto paid to ditech. at the time of the sale, I was not aware my mortgage was sold. My bank account was continuing to be debited for payments on the XXXX of every month. In XXXX I received phone calls from XXXX XXXX XXXX stating that my mortgage was past due and they were going to start foreclosure. I called ditech and they confirmed that they sold my loan to XXXX XXXX XXXX. They also confirmed that they had received my payments each month, and that they had not forwarded the payments to XXXX XXXX XXXX, but they would do so. Fast forward to today, I got another call from XXXX XXXX XXXX saying that I was still past due. I called ditech and they told me that it is their policy to make the first two payments, and then they forward any future payments back to the customer. They said they forwarded my XXXX and XXXX payments, but not XXXX, XXXX or XXXX because they sent them back to me. I said I hadn't received anything and they said that they had not sent them yet, but they would go out by the 2nd week of XXXX. They should have told me this rather than telling me they would forward all of the payments. Also, they shouldn't be allowed to hold my cash that long ... So, in this situation, I have continued to make my payments. The servicer has been happy to take my money, but since they didn't forward the payments, I am getting charged for late fees, and my credit is probably affected negatively. Even though I have done nothing but try and make my payment. I also want to complain about mortgages being sold. I own a couple of homes with multiple mortgages. I would say my mortgages have been bought and sold 20 times over the last 7 years. It is such an inconvenience to go through so much trouble every time a mortgage is bought or sold. Calling in to these banks and waiting on hold and then getting disconnected and then having to call back in is pretty standard. There should be a limit to the number of times a mortgage can be sold, or the customer should be able to opt out of their loan being sold, or the servicer should have to compensate the borrower for selling them and taking our time. Part of the problem is that they are relying on regular mail to notify me that my loan has been sold. I had no idea my mortgage was sold. I can't rely on regular mail in my line of work if I am notifying someone. I can't rely on regular mail if I am evicting a tenant and need to give them notice. I get 100 pieces of mail from XXXX XXXX XXXX. I just assume it is junk and throw it out. How would I ever see their welcome letter? The servicers should need to notify us our mortgage has been sold by registered mail. Or call me and actually speak to me, but regular mail is the least effective way to communicate. Why is it ok to use it when dealing with people 's biggest asset? Thanks

Company response to consumer: Closed with explanation