Consumer complaint received 08/28/2016 about Mortgage (FHA mortgage) with Lynx Asset Services, LLC (NJ).
Issue: Loan modification,collection,foreclosure

Complaint: From.XXXX XXXX. XXXXXXXXXXXX Date : .XX/XX/XXXX at XXXX EDT To : XXXXXXXXXXXX Subject : Fwd : LYNX ASSET SERVICES LLC IN NEW JERSEY FYI - CFPB complaint. 


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Begin forwarded message : From : XXXX XXXX , XXXXXXXXXXXX XXXX :. XXXX XXXX. XXXX To : XXXXXXXXXXXX Subject : XXXX XXXX XXXX XXXX IN NEW JERSEY Good Afternoon - My name is .XXXX XXXX , this email is to inform you that My family and I fell victims to the unscrupulous lending practices of an Investor and " Mortgage scam ''. 

The name of the company is XXXX XXXX XXXX XXXX. They are located in the State of New Jersey in the City of XXXX. The owner of the corporation is an Attorney XXXX XXXX XXXX. 

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFPB has the authority to take action against institutions engaging in unfair, deceptive, or abusive practices. LYNX ASSET SERVICES IS A smaller investor /mortgage lender who has done all of the above and more. 
They foreclose on peoples homes throughout the State of NJ, and the State of NJ fails to see the deceptive and abusive practices. 

1. In XXXX, I received a letter from Lynx Asset Services LLC, claiming that my mortgage loan will be serviced by them. On the letter was a business card of a woman by the name of XXXX XXXX. I contacted them and spoke to XXXX who at the time claimed that she was the " owner " we later found out she was n't. My loan Number with Lynx Asset. XXXX XXXX. Lynx Asset Services LLC. specializes in servicing delinquent loans and " credit-sensitive '' residential mortgage loans, where the borrower is at high risk for default or has defaulted with a previous lender. As a servicer, it is responsible for, among other things, creating and sending monthly statements to borrowers, and collecting and processing payments. In the 4 years that I was paying Lynx I never received a monthly billing statement. This is clearly federal violation under the servicing rules of CFPB. 

3. In XXXX Lynx Asset Services was not a Licensed or Registered business in the State of NJ as a mortgage lender or servicer. In fact Lynx was not even a registered Business in NJ until XX/XX/XXXX, Lynx sent out servicing letter prior to becoming a registered business within the laws of NJ. 
Lynx sent out servicing letters and modifications that would later benefit lynx Attached is the servicing and modification agreement provided by Lynx. 

4. I was in a previous modification with.XXXX per the letter dated.XX/XX/XXXX We were denied any type of modifaction, the lender Lynx asset instructed us to continue making payments to them for a full yr. to be condsidered for a loan modifaction. Which in turn became 5yrs. with no modifaction granted have attached the letter of modification from XXXX XXXX servicing for your review.. However, Lynx Asset Services LLC and their straw buyer XXXX XXXX failed to honor loan modifications already in place by previous lenders, instead Lynx who was NOT a licensed mortgage lender modified my loan from a principal and Interest payment of 4 % to a INTEREST only payment, Lynx requested that I deposit Cash to their Escrow account. I have a attached a bank statement from myself to Lynx. 5. Lynx only prolonged loss mitigation process. The company put us in loan modification purgatory and confused us about the status of the modifications, making it difficult for us to take appropriate action. In my case, lynx deprived us of the opportunity to save the home by increasing the payments and crediting only interest on a loan that was supposed to be a balance of {$.00}. The payment should have been {$1600.00} in XXXX, instead lynx took {$2500.00} from XXXX to XXXX .Lynx filed a complaint in foreclosure while I was making payments and they accepted my

Company response to consumer: Closed with explanation