Anyone Else Fed Up With Loan Servicing Companies?

6 Reply

Patrick Roberts

Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes

1y

For the late payments, contact the servicer that reported them late and ask them to remove the late payments from their reporting (after explaining, etc). At the same time, dispute the late payments with the bureaus and provide the payment records showing the payments were made on time if asked. You should have 60 days from the transfer where a payment made to either servicer is still deemed to be a payment rendered. Do not let this slide, even if the score impact is negligible. Lates on a mortgage trade can impact your ability to get loans in the future.

5 Reply

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Patrick Roberts:

For the late payments, contact the servicer that reported them late and ask them to remove the late payments from their reporting (after explaining, etc). At the same time, dispute the late payments with the bureaus and provide the payment records showing the payments were made on time if asked. You should have 60 days from the transfer where a payment made to either servicer is still deemed to be a payment rendered. Do not let this slide, even if the score impact is negligible. Lates on a mortgage trade can impact your ability to get loans in the future.

One of them told me they only have to provide 15 days notice, which doesn’t help if I am on vacation for a few weeks or haven’t checked my PO Box in a few weeks. I’ve been investing for many years and had a few loans transfer previously but this year I’ve seen a huge uptick, any idea why? Uptick in action in the secondary mortgage markets I suppose?

Robin SimonBusiness Member

Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes

1y

Quote from @Steve K.:

There must be a lot of trading going on in the secondary mortgage markets, because so many of our loans have changed hands recently and it has been super annoying.

For example one of them has switched several times just in the past few months, from the originator to SLS to PennyMac to Lakeview (subserviced by Flagstar but then a month later switched subservicer to Mr. Cooper), and now to Newrez (if I got that right, I may have lost track honestly). One of them dinged our credit and sent a late notice before I even had time to set up ACH payments with them. I had just gotten done setting up the new ACH info with the last servicer, and had not gotten anything from the new one yet. I think they may have tried to call because I got a call with caller ID "Newrez" but when I answered, nobody there. Another time the ACH info should have transferred automatically. I got a notice saying "Don't worry, your payments will automatically be transferred to us", however my bank didn't recognize the new servicer's info and the payment didn't go through, making us late and again dinging our credit and triggering late fees. My credit is still just over 800 but I was proud of that 840 score. It's just annoying trying to keep track of payments when they keep switching companies and having to pay these fees. Not to mention scams are so prevalent these days, it's stressful vetting all these companies and making sure my financial info isn't getting into the wrong hands. I'm just annoyed.

I wish I could go back and have all my loans with my local credit union who keeps them in-house to avoid all this. It's not so bad when you only have one property but with a portfolio of properties, it can take up a lot of time if they keep switching all. They are also not easy to deal with. It's frustrating to finally have it all sorted out then get a notice that the mortgage has been sold again and there is a new servicing company taking over and the mess starts all over. I've been talking to a lot of folks in the Philippines. On the plus side they are super friendly there and I'm learning some Tagalog, but I'd rather be doing something more remunerative with my time obviously. Plus it makes bookkeeping and doing taxes etc. more complicated and annoying/ expensive. It almost feels like they make it difficult on purpose so they get extra revenue on late fees. Maybe they are trying to annoy people with low rate mortgages on purpose to get them to refinance (conspiracy theory alert)? If somebody out there has a bunch of sub to deals, this could create big problems for them I imagine.

If it didn't mean trading 3-5% rates for today's rates, I'd refinance and have all these loans with my local credit union who doesn't sell them. Basically just venting with this post, but if anyone has any advice that would help, I'm all ears.

Anyone else dealing with this lately as well, or just me?

Yes, endless nightmare

[email protected]

Harpoon Capital514 Reviews

Patrick Roberts

Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes

1y

Quote from @Steve K.:

Quote from @Patrick Roberts:

For the late payments, contact the servicer that reported them late and ask them to remove the late payments from their reporting (after explaining, etc). At the same time, dispute the late payments with the bureaus and provide the payment records showing the payments were made on time if asked. You should have 60 days from the transfer where a payment made to either servicer is still deemed to be a payment rendered. Do not let this slide, even if the score impact is negligible. Lates on a mortgage trade can impact your ability to get loans in the future.

One of them told me they only have to provide 15 days notice, which doesn’t help if I am on vacation for a few weeks or haven’t checked my PO Box in a few weeks. I’ve been investing for many years and had a few loans transfer previously but this year I’ve seen a huge uptick, any idea why? Uptick in action in the secondary mortgage markets I suppose?

This is a highly regulated activity by the CFPB. The servicers have to send notices 15 days prior to the transfer, but the new servicer is required by law to honor any payments made to the old servicer for 60 days. This is straight from the CFPB website:

"Additionally, for 60 days from the date your loan servicing transfers, your new servicer cannot charge you a late fee or treat the payment as late if you sent it to your previous servicer on time or within the applicable grace period."

If your new servicer wants to play games, file a complaint with the CFPB and dispute with the credit bureaus. Burn em. I have no mercy and no tolerance for poor ops when it comes to stuff like this. This is literally the entire reason these companies exists - to get this stuff right.

As for why, I have no idea why there has been an uptick. Could be that the funds that bought the loans are liquidating, or it could be repositioning in preparation for future business. Big lenders like Flagstar that have a servicing component are currently using their servicing business insight to go after refinance business internally. It would not surprise me if they were acquiring the paper and servicing rights to take an inside line on refi's for these customers if rates decline.

4 Reply

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Patrick Roberts:

Quote from @Steve K.:

Quote from @Patrick Roberts:

For the late payments, contact the servicer that reported them late and ask them to remove the late payments from their reporting (after explaining, etc). At the same time, dispute the late payments with the bureaus and provide the payment records showing the payments were made on time if asked. You should have 60 days from the transfer where a payment made to either servicer is still deemed to be a payment rendered. Do not let this slide, even if the score impact is negligible. Lates on a mortgage trade can impact your ability to get loans in the future.

One of them told me they only have to provide 15 days notice, which doesn’t help if I am on vacation for a few weeks or haven’t checked my PO Box in a few weeks. I’ve been investing for many years and had a few loans transfer previously but this year I’ve seen a huge uptick, any idea why? Uptick in action in the secondary mortgage markets I suppose?

This is a highly regulated activity by the CFPB. The servicers have to send notices 15 days prior to the transfer, but the new servicer is required by law to honor any payments made to the old servicer for 60 days. This is straight from the CFPB website:

"Additionally, for 60 days from the date your loan servicing transfers, your new servicer cannot charge you a late fee or treat the payment as late if you sent it to your previous servicer on time or within the applicable grace period."

If your new servicer wants to play games, file a complaint with the CFPB and dispute with the credit bureaus. Burn em. I have no mercy and no tolerance for poor ops when it comes to stuff like this. This is literally the entire reason these companies exists - to get this stuff right.

As for why, I have no idea why there has been an uptick. Could be that the funds that bought the loans are liquidating, or it could be repositioning in preparation for future business. Big lenders like Flagstar that have a servicing component are currently using their servicing business insight to go after refinance business internally. It would not surprise me if they were acquiring the paper and servicing rights to take an inside line on refi's for these customers if rates decline.

Super helpful thanks.

Patrick Roberts

Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes

1y

Quote from @Steve K.:

Quote from @Patrick Roberts:

Quote from @Steve K.:

Quote from @Patrick Roberts:

For the late payments, contact the servicer that reported them late and ask them to remove the late payments from their reporting (after explaining, etc). At the same time, dispute the late payments with the bureaus and provide the payment records showing the payments were made on time if asked. You should have 60 days from the transfer where a payment made to either servicer is still deemed to be a payment rendered. Do not let this slide, even if the score impact is negligible. Lates on a mortgage trade can impact your ability to get loans in the future.

One of them told me they only have to provide 15 days notice, which doesn’t help if I am on vacation for a few weeks or haven’t checked my PO Box in a few weeks. I’ve been investing for many years and had a few loans transfer previously but this year I’ve seen a huge uptick, any idea why? Uptick in action in the secondary mortgage markets I suppose?

This is a highly regulated activity by the CFPB. The servicers have to send notices 15 days prior to the transfer, but the new servicer is required by law to honor any payments made to the old servicer for 60 days. This is straight from the CFPB website:

"Additionally, for 60 days from the date your loan servicing transfers, your new servicer cannot charge you a late fee or treat the payment as late if you sent it to your previous servicer on time or within the applicable grace period."

If your new servicer wants to play games, file a complaint with the CFPB and dispute with the credit bureaus. Burn em. I have no mercy and no tolerance for poor ops when it comes to stuff like this. This is literally the entire reason these companies exists - to get this stuff right.

As for why, I have no idea why there has been an uptick. Could be that the funds that bought the loans are liquidating, or it could be repositioning in preparation for future business. Big lenders like Flagstar that have a servicing component are currently using their servicing business insight to go after refinance business internally. It would not surprise me if they were acquiring the paper and servicing rights to take an inside line on refi's for these customers if rates decline.

Super helpful thanks.

Hopefully this saves you some time:
https://www.consumerfinance.gov/ask-cfpb/what-happens-if-the...

3 Reply

Mark F.

Rental Property Investor · Northern NJ · Member since 2019 · 672 posts · 677 votes

1y

That’s interesting since I have 3 loans with 3 of the servicers you just mentioned. Not many complaints from all 3 luckily but I’ve never had my loan sold that many times. Usually just once or twice within the first year.

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Mark F.:

That’s interesting since I have 3 loans with 3 of the servicers you just mentioned. Not many complaints from all 3 luckily but I’ve never had my loan sold that many times. Usually just once or twice within the first year.

Prior to this year that was the case for us too, but this year has been relentless. Hopefully just coincidental timing or something and things will stabilize because I’m getting sick of dealing with these companies. At one time all of our loans were with SLS and it was a lot easier that way: just log into the one portal and everything is there, rather than having various companies and their “subservicers” to deal with. Next we’re going to have sub-subservicers servicing the subservicers.

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Patrick Roberts:

Quote from @Steve K.:

Quote from @Patrick Roberts:

Quote from @Steve K.:

Quote from @Patrick Roberts:

For the late payments, contact the servicer that reported them late and ask them to remove the late payments from their reporting (after explaining, etc). At the same time, dispute the late payments with the bureaus and provide the payment records showing the payments were made on time if asked. You should have 60 days from the transfer where a payment made to either servicer is still deemed to be a payment rendered. Do not let this slide, even if the score impact is negligible. Lates on a mortgage trade can impact your ability to get loans in the future.

One of them told me they only have to provide 15 days notice, which doesn’t help if I am on vacation for a few weeks or haven’t checked my PO Box in a few weeks. I’ve been investing for many years and had a few loans transfer previously but this year I’ve seen a huge uptick, any idea why? Uptick in action in the secondary mortgage markets I suppose?

This is a highly regulated activity by the CFPB. The servicers have to send notices 15 days prior to the transfer, but the new servicer is required by law to honor any payments made to the old servicer for 60 days. This is straight from the CFPB website:

"Additionally, for 60 days from the date your loan servicing transfers, your new servicer cannot charge you a late fee or treat the payment as late if you sent it to your previous servicer on time or within the applicable grace period."

If your new servicer wants to play games, file a complaint with the CFPB and dispute with the credit bureaus. Burn em. I have no mercy and no tolerance for poor ops when it comes to stuff like this. This is literally the entire reason these companies exists - to get this stuff right.

As for why, I have no idea why there has been an uptick. Could be that the funds that bought the loans are liquidating, or it could be repositioning in preparation for future business. Big lenders like Flagstar that have a servicing component are currently using their servicing business insight to go after refinance business internally. It would not surprise me if they were acquiring the paper and servicing rights to take an inside line on refi's for these customers if rates decline.

Super helpful thanks.

Hopefully this saves you some time:
https://www.consumerfinance.gov/ask-cfpb/what-happens-if-the...

You're the man.

Timothy Franklin

Member since 2024 · 34 posts · 9 votes

1y

This thread makes me wonder if this is a big enough problem that it would be worthwhile addressing? I could easily train virtual assistants to handle these payments and have an app created for encrypting sensitive data for facilitating the transactions through financial service partners from my main line of business. The question is would you or other investors be interested in paying for a service that facilitates all of these payments on your behalf so you don't have to worry about the hits to the credit or the change of servicer?

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Timothy Franklin:

This thread makes me wonder if this is a big enough problem that it would be worthwhile addressing? I could easily train virtual assistants to handle these payments and have an app created for encrypting sensitive data for facilitating the transactions through financial service partners from my main line of business. The question is would you or other investors be interested in paying for a service that facilitates all of these payments on your behalf so you don't have to worry about the hits to the credit or the change of servicer?

Possibly but I'd be worried about adding another layer of complication / potential point of failure. I'd prefer less outsourcing on behalf of the banks and fewer web portals/ apps/ servicing companies because in my experience the more entities involved the more glitches, so adding a VA and another layer of software to the mix doesn't sound inviting. The idea of my credit union where I bank holding these loans and servicing them and never selling them, keeping it as simple as possible is what sounds the most appealing to me after these experiences.

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Timothy Franklin:

This thread makes me wonder if this is a big enough problem that it would be worthwhile addressing? I could easily train virtual assistants to handle these payments and have an app created for encrypting sensitive data for facilitating the transactions through financial service partners from my main line of business. The question is would you or other investors be interested in paying for a service that facilitates all of these payments on your behalf so you don't have to worry about the hits to the credit or the change of servicer?

Possibly but the problems I’m having stem from having too many cooks in the kitchen already so to speak, and failures of what is supposed to be seamless transitions among different payment systems, so I’d be worried that adding another layer of complication, more entities and more software could lead to more potential failure points. Personally I’d prefer having all my loans with one entity like my local credit union who doesn’t sell them and just have the payments come out of my account that I already have with them, keeping it as simple as possible.

Timothy Franklin

Member since 2024 · 34 posts · 9 votes

1y

Ok. So B2C is out, but perhaps B2B might be an option (e.g providing a streamlined solution for all of the major mortgage servicing companies for collection of payments. One system one login, multiple providers using the same platform. I come from and operate out of B2B anyway so that just makes it easier to create, sell, and scale.

Lorraine Hadden

Real Estate Broker · CA · Member since 2024 · 60 posts · 42 votes

1y

@Steve K.

I feel your pain.

It seems that if a servicing company underperforms or if there are compliance problems, lenders switch to a more reliable servicer. Also where there are changes in regulations that may require lenders to change servicing agreements which affect who services your loan.

I know that's a pain but as things change -- unfortunately, investors will be impacted by changes in the lending industry - and that includes LOAN SERVICING CHANGES.

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Timothy Franklin:

Ok. So B2C is out, but perhaps B2B might be an option (e.g providing a streamlined solution for all of the major mortgage servicing companies for collection of payments. One system one login, multiple providers using the same platform. I come from and operate out of B2B anyway so that just makes it easier to create, sell, and scale.

That sounds more like it. Basically a consolidation of the subservicing companies into one subservicer… part of my frustration is having a loan switch to a new bank/ loan servicer then a secondary frustration is that new servicer then switching their subservicer from one subservicer to another. For awhile it seemed like only SLS and Pennymac were buying loans and I got comfortable with their platforms but now I’ve got Lakeview, Mr.Cooper, Flagstar in the mix all with different systems. Again not a big deal for a home owner with one single mortgage to keep track of if their loan changes services occasionally, but with a number of loans all changing companies multiple times in the same year, it becomes frustrating trying to keep track of all of these changes, only to have more changes.

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Lorraine Hadden:

@Steve K.

I feel your pain.

It seems that if a servicing company underperforms or if there are compliance problems, lenders switch to a more reliable servicer. Also where there are changes in regulations that may require lenders to change servicing agreements which affect who services your loan.

I know that's a pain but as things change -- unfortunately, investors will be impacted by changes in the lending industry - and that includes LOAN SERVICING CHANGES.

It’s a total cluster between the banks, their loan servicers and their loan servicer’s sub-servicers. I get it though, that’s the price we pay for having the privilege of being able to borrow money. Part of the deal, just annoying when payments don’t go through when they should and these companies are difficult to deal with (as nice as their Filipino call center employees are, I’m spending too much time on the phone with them).

[email protected]458-209-0163

Dan GandeeBusiness Member

Investor · Eugene, OR · Member since 2021 · 90 posts · 117 votes

1y

Hate them. Screwed up our taxes numerous times and last month our insurance was dropped since they didn't pay it appropriately.

The Operative Group | REAL5139 Reviews

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Dan Gandee:

Hate them. Screwed up our taxes numerous times and last month our insurance was dropped since they didn't pay it appropriately.

That is super frustrating!

Don KonipolBusiness Member

Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes

1y

Quote from @Patrick Roberts:

Quote from @Steve K.:

Quote from @Patrick Roberts:

For the late payments, contact the servicer that reported them late and ask them to remove the late payments from their reporting (after explaining, etc). At the same time, dispute the late payments with the bureaus and provide the payment records showing the payments were made on time if asked. You should have 60 days from the transfer where a payment made to either servicer is still deemed to be a payment rendered. Do not let this slide, even if the score impact is negligible. Lates on a mortgage trade can impact your ability to get loans in the future.

One of them told me they only have to provide 15 days notice, which doesn’t help if I am on vacation for a few weeks or haven’t checked my PO Box in a few weeks. I’ve been investing for many years and had a few loans transfer previously but this year I’ve seen a huge uptick, any idea why? Uptick in action in the secondary mortgage markets I suppose?

This is a highly regulated activity by the CFPB. The servicers have to send notices 15 days prior to the transfer, but the new servicer is required by law to honor any payments made to the old servicer for 60 days. This is straight from the CFPB website:

"Additionally, for 60 days from the date your loan servicing transfers, your new servicer cannot charge you a late fee or treat the payment as late if you sent it to your previous servicer on time or within the applicable grace period."

If your new servicer wants to play games, file a complaint with the CFPB and dispute with the credit bureaus. Burn em. I have no mercy and no tolerance for poor ops when it comes to stuff like this. This is literally the entire reason these companies exists - to get this stuff right.

As for why, I have no idea why there has been an uptick. Could be that the funds that bought the loans are liquidating, or it could be repositioning in preparation for future business. Big lenders like Flagstar that have a servicing component are currently using their servicing business insight to go after refinance business internally. It would not surprise me if they were acquiring the paper and servicing rights to take an inside line on refi's for these customers if rates decline.

Actually CFPB regs may NOT apply if the subject loans are investment or commercial property loans and not SFR owner occupied or consumer loans.

Private Mortgage Financing Partners, LLC

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Update: got to the bottom of the most recent issue which turned out to be a miscommunication between Newrez, our bank, and the new loan servicer for Newrez which is Shellpoint. Finally got it straightened out and Newrez did waive the late fees because it should have been a seamless transition and was not. My credit did take a ding and Newrez/Shellpoint supposedly can't reverse that now. I don't have the time or energy to file a complaint with the credit bureaus and my score is still over 800 so I'm moving on. Hopefully I get a break from loans transferring to new banks/ servicers for awhile, I'm over it.

Chris SeveneyBusiness Member

Moderator

Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes

1y

Quote from @Steve K.:

Update: got to the bottom of the most recent issue which turned out to be a miscommunication between Newrez, our bank, and the new loan servicer for Newrez which is Shellpoint. Finally got it straightened out and Newrez did waive the late fees because it should have been a seamless transition and was not. My credit did take a ding and Newrez/Shellpoint supposedly can't reverse that now. I don't have the time or energy to file a complaint with the credit bureaus and my score is still over 800 so I'm moving on. Hopefully I get a break from loans transferring to new banks/ servicers for awhile, I'm over it.

Thats good to hear it is resolved and sorry about the credit. I would say I disagree as the servicer can request information be removed from credit. I as a lender as part of settlement had our servicer unwind some negative reporting.

As a sidenote I saw a post online somewhere else where someone who had an owner occupied home for several years relocated for work and teh servicer sent a letter telling them they are not in compliance with their loan because it must be owner occupied for the entirety of the loan even though the loan docs say one year....

Again, servicer overstepping their bounds

7e investments53 Reviews

Karolina Powell

Member since 2021 · 107 posts · 82 votes

1y

Having the same problems. It feels like the first week of the month, I spend chasing down payments to make sure all of my loans are paid, even though I have everything on autopay. Way too much time spent on phone calls and on chats etc

Caroline Gerardo

Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes

1y

Quote from @Don Konipol:

Quote from @Patrick Roberts:

Quote from @Steve K.:

Quote from @Patrick Roberts:

For the late payments, contact the servicer that reported them late and ask them to remove the late payments from their reporting (after explaining, etc). At the same time, dispute the late payments with the bureaus and provide the payment records showing the payments were made on time if asked. You should have 60 days from the transfer where a payment made to either servicer is still deemed to be a payment rendered. Do not let this slide, even if the score impact is negligible. Lates on a mortgage trade can impact your ability to get loans in the future.

One of them told me they only have to provide 15 days notice, which doesn’t help if I am on vacation for a few weeks or haven’t checked my PO Box in a few weeks. I’ve been investing for many years and had a few loans transfer previously but this year I’ve seen a huge uptick, any idea why? Uptick in action in the secondary mortgage markets I suppose?

This is a highly regulated activity by the CFPB. The servicers have to send notices 15 days prior to the transfer, but the new servicer is required by law to honor any payments made to the old servicer for 60 days. This is straight from the CFPB website:

"Additionally, for 60 days from the date your loan servicing transfers, your new servicer cannot charge you a late fee or treat the payment as late if you sent it to your previous servicer on time or within the applicable grace period."

If your new servicer wants to play games, file a complaint with the CFPB and dispute with the credit bureaus. Burn em. I have no mercy and no tolerance for poor ops when it comes to stuff like this. This is literally the entire reason these companies exists - to get this stuff right.

As for why, I have no idea why there has been an uptick. Could be that the funds that bought the loans are liquidating, or it could be repositioning in preparation for future business. Big lenders like Flagstar that have a servicing component are currently using their servicing business insight to go after refinance business internally. It would not surprise me if they were acquiring the paper and servicing rights to take an inside line on refi's for these customers if rates decline.

Actually CFPB regs may NOT apply if the subject loans are investment or commercial property loans and not SFR owner occupied or consumer loans.

Correct. Investors don't have teeth, the loans that are GSE/FHA/USDA.. are supported by Federal funds intended to help owner occupants.

The likely reason why the servicing is selling/flipping so often is your account is flagged.

OP

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

1y

Quote from @Chris Seveney:

Quote from @Steve K.:

Update: got to the bottom of the most recent issue which turned out to be a miscommunication between Newrez, our bank, and the new loan servicer for Newrez which is Shellpoint. Finally got it straightened out and Newrez did waive the late fees because it should have been a seamless transition and was not. My credit did take a ding and Newrez/Shellpoint supposedly can't reverse that now. I don't have the time or energy to file a complaint with the credit bureaus and my score is still over 800 so I'm moving on. Hopefully I get a break from loans transferring to new banks/ servicers for awhile, I'm over it.

Thats good to hear it is resolved and sorry about the credit. I would say I disagree as the servicer can request information be removed from credit. I as a lender as part of settlement had our servicer unwind some negative reporting.

As a sidenote I saw a post online somewhere else where someone who had an owner occupied home for several years relocated for work and teh servicer sent a letter telling them they are not in compliance with their loan because it must be owner occupied for the entirety of the loan even though the loan docs say one year....

Again, servicer overstepping their bounds

I am going to dig deeper on undoing the credit damage. The person who told me that they couldn’t do anything about it on the phone didn’t sound like they were the authority on the subject, but rather just that they didn’t know how to. If this keeps happening and I keep letting it go, my credit won’t be good for long. I don’t trust these servicing companies and their sub-servicing companies to get anything straight anymore unfortunately. I wish there was a way to control which bank my loans were owned and serviced by. Definitely regret not having them all with my local credit union but too late for that now unless I refinance anll these loans and that would mean sacrificing a few points, closing costs, higher payments, less cashflow etc.