Consumer complaint received 2016-12-15
Product: Mortgage — Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure — 
Company: CIT BANK, NATIONAL ASSOCIATION (FL)

& gt ; & gt ; & gt ; Your attention to this matter is greatly appreciated. This is an update & gt ; to my last email. My name is XXXX and my & gt ; wife is XXXX. We are writing to you and all parties cc 'd on this & gt ; corespondent to bring immediate attention to a situation that is of great & gt ; importance to my family. My family has resided at XXXXXXXXXXXXX & gt ; XXXX Florida XXXX for XXXX years. We currently have a modification & gt ; application in with CIT bank. My wife and I have secured mortgages in the past XXXX years on different XXXX and in XXXX. We also worked in the mortgage industry. XXXX is to say we know how to put in a mortgage application and what qualifies. I repeat that " We know how a mortgage application is put together '' In XX/XX/XXXX with the XXXX markets collapse our business closed down. We as a family scaled down, sold properties and needed bankruptcy protection to protect our HOMESTEAD. Since the XX/XX/XXXX difficulties we have been in communication with XXXX which was taken over by XXXX and now XXXX. All along the process we are attempting to secure a modification. For all of these years no modification has been offered and balances because of high interest rates and penalties have grown. 
Our XXXX income for XXXX are supported by bank statements on average {$30000.00} month deposits and documented income filed with the IRS and verified for over $ 8000 month. XXXX XXXX for a modification. What the bank '' sss '' and I use XXXX 's ( because of XXXX, XXXX, and now XXXX all XXXX in the same ) have done years long paperwork shuffle. Balances and fees grow. processes delayed. Foreclosures initiated. 

On line News http : XXXX An excerpt from the above article " For XXXX, XXXX fundamental problem stems from the XXXX. His investor group was the sole bidder to take control of the troubled bank IXXXX in XX/XX/XXXX. The group struck a deal that left the XXXX responsible for taking as much as XXXX percent of the losses on former XXXX assets and rebranded the troubled bank as XXXX. 
The combination of XXXX 's PROFITABILITY, government guarantees and foreclosure activities drew the ire of activist groups like the XXXX XXXX XXXX. It found the bank to be XXXX XXXX of the most difficult to work out loan modifications with even though XXXX never drew a major response from government regulators. '' My opinion nothing has changed about their difficult workouts just the names. 

By XX/XX/XXXX, XXXX years after taking over XXXX, XXXX sold the bank for {$3.00} XXXX at a tremendous profit. 

Unsurprising to me are the number of stories on line with similar stories of a paperwork shuffle with the very recent in the national news link above. 

It 's unfair not to be granted a modification with my documented income. Its unfair the interest, fees, forced insurance and fluff that has been added on this loan. My family, wife and XXXX daughters XXXX, XXXX and twins XXXX have known nothing but this house, as we have resided here since all their births. This banks paperwork shuffle and 8 year stall tactic is nothing more than a process to seize the asset because it is worth MORE as a foreclosure to them then a paying mortgage. DELIBERATELY not modifying. 
XXXX management, executives and underwriting have a chance to do the right thing on this file, home and family. 

Thank you.