Consumer complaint received 2015-05-11
Company: Statebridge Company
State: FL
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
Requested Investor info after denial on XX/XX/XXXX in writing from XXXX XXXX at XXXX XXXX, XXXX, Not Its Individual Capacity but Solely as Trustee of the XXXX c/o XXXX, XXXX XXXX XXXX XXXX, FL XXXXTold INV " not offering any mods as retention at this time '' with no explanationsAppealed denial on XX/XX/XXXX based on income change for XXXX XXXX for HAMP due to NPV Test failure on XX/XX/XXXX which showed value of $ 69k and GMI of $ XXXXSPOC XXXX XXXX advise he will submit for review of In-House Mod on XX/XX/XXXXSale date was on XX/XX/XXXX and was canceled per the Sheriff 's Department on XXXX was not successfully canceled and had to be rescinded in XX/XX/XXXXClient was under final review for Trial Plan Offer she received from XXXX XXXX when she was pre-approved for the HAMP Program in XX/XX/XXXX. 
Their loan was sold to Statebridge less than 2 wks after the HAMP Pre-Approval. No docs were sent to the borrowers. The SPOC at Statebridge, XXXX XXXX, was given the info from XXXX and ran the numbers but came back with a denial XX/XX/XXXX b/c NPV Test was negative. THE OFFER WITH XXXX WAS PRE-APPROVED STREAMLINE HAMP MOD TRIAL WITH NO DOCS NEEDED. 
XX/XX/XXXX, their total amount due at XXXX XXXX was {$72000.00}, less than $ 3k over their NPV Test value at $ 69k. Their I/R is 10.038 %. 
Their P & I payment is {$680.00} ( non-escrowed ) When denied by XXXX, they were only 26 months past dueThe XXXX Loan Modification Application was sent to XXXX XXXX at Statebridge on XX/XX/XXXX via fax XXXX. On XX/XX/XXXX I had not received any response from Statebridge or XXXX XXXX so I emailed her and the SPOC when the loan was with XXXX XXXX, XXXX XXXX ( XXXXXXXXXXXX fax ) to advise I sent the Loan Mod package on both XX/XX/XXXX and XX/XX/XXXX. 
Per the client, a realtor showed up on XX/XX/XXXX to advise their home was sold back to the bank ( Statebridge ) and they need to prepare for Eviction and find a place to liveI contacted the Sheriff 's Office to find out that the sale date on XX/XX/XXXX was not successfully stopped, contacted Counsel for Statebridge, XXXX XXXX at XXXX on XX/XX/XXXX and received confirmation that afternoon that the sale will be rescindedAfter two ( 2 ) months of fighting this action and error on the lender and opposing counsels behalf, we finally got confirmation of the sale being rescinded and no sale date set on XX/XX/XXXX per Sheriff 's OfficeOn XX/XX/XXXX, XXXX XXXX stated that the sale was rescinded, they HAMP was denied for NPV Test, and they are reviewing for In-House ModOn XX/XX/XXXX, XXXX XXXX advised the INV will not offer any MOD and gave no reason why. 
On XX/XX/XXXX, the sale was reset for XX/XX/XXXX and denied for all options. 
A written appeal and updated docs showing new income ( since the denial, the clients have experienced BOTH increased income and lessened expenses, respectively, which is supposed to entitle them to a new review ) was submitted to XXXX XXXX and XXXX on XX/XX/XXXXXXXX. XXXX confirmed receipt and said he will review immediately. 
I followed up on XX/XX/XXXX. He did n't review them b/c " as advised on XX/XX/XXXX, the investor is not offering any mods at this time ''. I advised him this is unacceptable and the new docs/appeal MUST BE REVIEWED as they were submitted 8 WEEKS PRIOR TO SALE DATE OF XX/XX/XXXX. 
He ignored these demands. I resubmitted on : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX, to prompt the re-reviewI requested a new SPOC on XX/XX/XXXX but that was ignored. 
Spoke to manager XXXX XXXX who refused to address the submissions from XX/XX/XXXX to XX/XX/XXXX never even reviewed. 
She said she would email or fax me any/all letters but did not.She said they wo n't stop the XX/XX/XXXX sale nor will they review the docs with updated information ( income, expenses, debt, etc. ) because " they are not required to ''.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation