LENDER BUSINESS PROCESS SERVICES - LBPS NEEDS TO RESOLVE MY COMPLAINT

Posted on Tuesday, September 7th, 2010 at 8:08pm CDT by 645b8f71

Product: Nicole Venturi

Company: LENDER BUSINESS PROCESS SERVICES

Location: 14523 SW MILLIKAN WAY, SUITE 200
BEAVERTON, OR, 97005, US

URL: http://LBPS.COM/

Category: Other

SINCE JULY, I HAVE HAD PROBLEMS WITH LBPS THAT HAVE INCONVENIENCED MY LIFE. EACH MONTH I FOLLOW THEIR DIRECTIONS AND EACH MONTH THEY CANNOT EXPLAIN WHY THE PROBLEMS I'M EXPERIENCING ARE OCCURRING. YET THEY DO NOT HELP ME FIX ANYTHING. I HAVE EVERY RECEIPT AND PIECE OF DOCUMENTATION TO PROVE THAT I'VE FOLLOWED THROUGH WITH THEIR INSTRUCTIONS. THEY WILL NOT LET ME CONFIRM AUTOPAY DATES THROUGH THE PHONE OR FAX EVEN THOUGH THEY ASK ME TO CONFIRM MY SSN, ADDRESS, PHONE NUMBERS AND LOAN NUMBER. I HAVE FAXED AND MAILED AND CALLED TO GET AUTOPAY SET UP AGAIN WITH NO POSITIVE RESULTS. IT WAS WORKING PERFECTLY FINE WHEN I WAS WITH CHASE BUT CHASE SOLD ME TO LBPS AND THAT'S WHEN ALL MY PROBLEMS STARTED TO OCCUR. CUSTOMER SERVICE CANNOT TELL ME WHY THE FIRST OF THE MONTH (MY DATE REQUESTED FOR AUTOPAY DEDUCTION) WAS DENIED. I TOLD THEM TO PICK THE SECOND DAY OF EACH MONTH IF IT WOULD NOT BE DENIED BUT CUSTOMER SERVICE STILL COULDN'T CONFIRM THAT DATE WOULD NOT BE DENIED. I'VE SPENT HOURS FAXING, MAILING, ON THE WEBSITE, AND TALKING TO CUSTOMER SERVICE ON THE PHONE WITH NO SOLUTION. I'M FRUSTRATED WITH THE AMOUNT OF TIME AND THE AMOUNT OF MONEY SPENT ON FAXES AND STAMPS THAT WAS DEDICATED TO RESOLVING THESE ISSUES WHICH ARE STILL UNRESOLVED.


9 Comments

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6e964792, 2010-09-21, 09:08AM CDT

Same thing happened to me. Chase sold my loan to LBPS and now, nothing but problems. LBPS is has policies that are not consumer friendly at all. If I want to make a payment that is meant only for principal they apparently do not have a mechanism online nor over the phone that can handle this. You have to send them a check via the mail with written instructions as to where the funds are to be applied. This is terrible because now it takes 5 days for them to get and clear the check where a payment over the phone or online would be instant. The consumer gets dinged with interest simply because LBPS will not accept principal payments over the phone or online. The only payments they can handle over the phone and online are for your regular installments or to advance your regular installments. Even though it says clearly all extra funds are applied to the principal, they are not.

And if you call in to get the payment adjusted they tell you to call back in 24-48 hours to see if they were able to complete it. They never are. It takes about a week of phone calls and complaints for the payment to get adjusted.

WORST LENDOR EVER.

2bdf09b7, 2010-10-11, 08:59PM CDT

Had load sold to LBPS. Unable to contact anyone, but did a Network Lookup on the website www.lbps.com. Its owned by Merril Lynch, truly a wolf in sheep's

clothing. Here is the data:

OrgName: Merrill Lynch and Company, Inc.

OrgId: MERRIL-2

Address: Merrill Lynch

Address: 570 Washington Street

City: New York

StateProv: NY

PostalCode: 10014

Country: US

RegDate: 1995-11-29

Updated: 2006-06-20

Ref: http://whois.arin.net/rest/org/MERRIL-2

OrgTechHandle: VP33-ARIN

OrgTechName: Patrizio, Vincent

OrgTechPhone: +1-212-647-2529

OrgTechEmail: [email protected]

OrgTechRef: http://whois.arin.net/rest/poc/VP33-ARIN

1329ee5d, 2010-10-22, 07:40PM CDT

I spent an hour on the phone with LBPS this evening with similar if not identical situations. I too was one of the one's affected by having my Chase loan sold. Frustratingly, the issues are still unresolved; I am too call back next week after documents have been reviewed and then fax. How is it that I have had a mortgage for 15 years, no late payments, no discrepancies with paperwork, etc. and since July, nothing but headaches? Did you know that they are unable to receive electronic payment? "It is my choice to block toll-free, unidentified numbers. That is however, how we [LBPS] contact our customers." "Here's the skinny" "Sometimes it is willy nilly" "I can request, but can't guarantee." are the "professional" phrases used by customer service. I definitely understand where you are coming from.

5f228eb1, 2010-10-26, 06:16PM CDT

Screwed up my mortgage and now is telling me that I am in default. Will not correct the problem. See this sight. http://janebryantquinn.com/2010/10/foreclosure-fraud-how-you-can-be-driven-to-default-even-though-to-pay-on-time/

241786fc, 2010-11-25, 10:49AM CST

My story with LBPS and extra principal payments are a struggle. I pay on line always over the mortgage payment. I have paid a total of $9000 to principal, only in the last two months but the principal on my statement only went down $4000. I called them on it and was told by Deborah Coleman (11/24/10) that the excess principal money was in something called a "suspense fund". She said she doesn't know why it wasn't applied to the principal but said she would make sure it got dropped in the principal right away and my principal overnight went down another $4000. So now I'm up to date. Another $5000 is being sent to arrive on 11/26. And I certainly will be calling every day until this is applied correctly. I think the trick is the more they hang on to the extra principal the more interest I have to pay, the more money they take in at my expense. I also don't like the trick of them applying this extra money to future payments so far in advance.

I do not trust the US Mail to get it the destination and need the money trail from my bank for evidence. I'm so furious to be taken over by a debt collector and treated so shabbily.

379ac4be, 2010-12-23, 05:47PM CST

I can tell you that it is Clown College at LBPS. What a joke. They do not take electronic payments from my bank. They mail them a paper check with a 5 day lead time. I make sure they get paid early and double check the website before the due date. The loan was sold by Chase and we have had issues with canceling Escrow as Chase promised. They also required us to lower our insurance deductable costing hundreds each year. It is one thing after another with them. I hope someone can file a lawsuit against this dumb company.

5333e0f1, 2011-02-02, 03:35PM CST

about the same sitation here.we had our mortgag with citimortgage which was then sold off to LBPS.they have us in escrow(never asked for it)and we can't get out of it.They raised our payment up 500.00.Now we are in danger of not being able to make the next payment.What scammers these people are! It's a wonde more people don't go postal.

d0d42aef, 2011-02-07, 05:28PM CST

LBPS also Bullied us(me & my wife, who live in south Florida) into outrageous insurance requirements, and keeps sending notices about needing windstorm insurance after I have purchsed and sent in info by FAX.

LBPS also requires an escrow of insurance and property taxes into your payment amounts. DON'T BE LATE making an insurance update request, as they will SOCK you with a super duper bill for insurance(over $1400.00 for three months of manditory insurance). OUCH!!!

8e6209bc, 2011-07-01, 09:11AM CDT

LBPS has taken home ownership to a new level of pain and agony. their style of customer care is borderline crininal. But you can bet LBPS management braggs among themselves about which manager treated the home owner the worst!

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