ASC - Americas Servicing Company Reviews

I truly believe these companies have a racket going to extract as much money out of homeowners as possible by deception and stalling tactics. They don't have any intention of giving a loan modification. They are acting as a collection agency for WF and sucking as much $$ as possible...probably collecting commission from what they get from us. Dealing with them is futile. We have to STOP them.

I'm in the process of filing a class action suit against ASC/Wells Fargo. If you want to join the law suit send info to STEWARTvsASC@yahoo.com

My life has been a roller coaster the past couple year and I am just now in a normal state of mind to pursue this issue. American Servicing Company (ASC) and my mortgage company (whoever that was-?) literally stole my house from me.

I owned a rental house in Oklahoma that I was planning to move into and use as my homestead. This home was foreclosed 12/15/08. The house had been damaged in a storm and had a bad roof leak that damaged the ceilings in three rooms and the carpeting. My renter didn't tell me of the damage, quit paying rent and stalled me with promises and bad checks for three months while I tried to get her out. My mortgage payment had gone from $515 to $704 and I got behind ? not having any rental income.

When the renter moved out and I discovered the storm damage, I filed a claim and the insurance company wrote me a check for $9,200 for damages. This was enough money to catch up my payments AND make repairs, IF my son (who is a contractor) would be allowed to repair the home.

I was continually in touch with American Servicing Company-ASC, who said they contacted the mortgage company and got approval to use the insurance money to catch up payments and repair the house. I sent them a copy of the repair bid and insurance check, at their request. They had agreed to retain the amount to bring the loan current from the $9,200 check and send a check for the balance on the bid sheet for repairs to my son?s company. After I sent the insurance check, I could never reach anyone at ASC who would honor their commitment and no one would respond to my emails or phone calls. I was told I would get a call?but nothing.

Without the repairs, I could not move into, rent or sell the property and ASC delayed me for months until I could not possibly make up the past due payments, without them honoring the agreement they made with me regarding the insurance money.

At no time did anyone offer any type of program or arrangements for me to keep my home.

After saying they would work with me, they cashed the check (without my signature), for $9,200 and proceeded to sell the house at sheriff's sale. They did not use the insurance money to do any repairs to the house and then tried to collect again from my insurance company for the same damages.

Since the insurance check was much more than what I owed in back payments, would someone tell me what right they had to take my house?

I had spent over $25,000 remodeling the house a couple years before and was going to move into this home but of course never got the opportunity. Again, because of the damage, I couldn't rent it or sell it or live in it until the repairs were made. I was destroyed financially because of this.

After the foreclosure my finances just spiraled downward until I was forced into bankruptcy. I am 65 years old now, living with my daughter in Texas.

The foreclosure papers said U.S. Bank, National Association, but my credit report says Wells Fargo. ASC is part of Wells Fargo. I?m not sure who the mortgage company was. I do know ASC was horrible. They gave my insurance company fits by constantly placing insurance on the house claiming that my insurance had lapsed and requiring my insurance company to send proof repeatedly.

I called my insurance company (Oklahoma Farm Bureau) and complained about ASC cashing my check without my signature and was told they had the right to do that. Also, the insurance company representative said Oklahoma Farm Bureau didn't care whether they did the repairs or not; but, they did appreciate me letting them know about ASC trying to collect on the same damages again.

Here is a link to the Congressional Oversight Committee Hearing on foreclosures, in case you?re interested. Seems there are many like me.

http://www.c-span.org/Events/House-Oversight-Cmte-Hearing-on-Preventing-Foreclosures/18355-1/ (copy and paste in address bar)

Oh, and I forgot to mention that when we had an offer on our property for a short sale prior to our bankruptcy, ASC hung up on our lawyer and told him that they were not legally required to respond for 90 days. Of course, we lost our short sale, and more than a year after our bankruptcy discharge they contacted our realtor and real estate attorney to ask us if we wanted to do a short sale. Again, violation of FDCPA and we dont own the property! Good luck with the auction ASC!

My husband and I filed for bankruptcy in 2008 and ASC received a discharge notice to that effect. They continued to send collection notices, and even sent a sheriff to our new residence to post bills on our front door. This is in direct violation of the FDCPA. Let me know if anyone finds out about a class action lawsuit regarding this company.

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We have been sending the "same" paperwork over and over to ASC for 18 months now. We run our home business from our Underwater Mortgaged home and have a young son. We have pleaded and called and now concrete response from anyone at ASC. We even hired a lawyer but that was no help to us, they do the same thing we do with no elevated response to an attorney! We need to get a lower rate and stay in our home and it would relieve soooo much stress in our already stressful life of trying to make ends meet and not live in luxury just getting by!

This is a company that is really Wells Fargo. They do not care about your mortgage. They want the PMI insurance and then the sale of the home after that. Tell everyone you can of your experience so that the government or authorities can do something about the illegal practices going on. They will never stop the red tape and taking over peoples homes unless they are stopped by the authorities. They want the money from the PMI. Contact your attorney general right away.

We also had terrible experiences with ASC. We did contact our attorney general and wrote a long detailed letter of every action ASC did or did not do...far too long to include in this review.
They do seem to be operating an incredibly illegal company and no one is reporting it on the local or national media level.
We did report it to the attorney general. We are hopeful that the attorney generals will begin to collect data against the company and spare others what we have had to go through. We lost two homes through this company after years of paper work problems, lies and a general collapse of the housing market as we know it by the bank...this is really about Wells Fargo. ASC "America's Servicing Comnpany" is a name Wells Fargo hides behind. Everyone must tell someone who can do something about it...such as attorney generals....letting it go will let them continue their evil and illegal practices.....such as....constant lost paperwork, red taping things to death until the owner is in no other position but to lose the home, never being able to talk to a person more than once, lying about what is Fannie Mae or not...(we were told that our home was NOT Fannie Mae...after the sheriffs sale they told us that was a mistake...it WAS Fannie Mae but there was nothing we could do about it now). This is just the beginning of what we have gone through. Tell the authorities, anybody who can report it to the public or people who can do something about the real bank in charge...WELLS FARGO. And no...after all this we are relieved it is over and have no more fight to get the homes back. We do want Wells Fargo to face the responsiblity of what they turned our lives into from the battle of the situation. The homes were rental units which will be destroyed by the tenants due to this company letting them go to the sheriffs sale. It was unneccsary. We had enough money to refinance and make it right. WElls Fargo did not want to do this. What they really wanted was the market value of the PMI. The homes were sold to us for $219,000. They are worth $90,000 now but the PMI would give Wells Fargo $219,000 cash if the home was foreclosed on...and it was and they did receive this money...and more when they sell it again for $90,000. That is the real issue for WElls Fargo. They make money on foreclosures from PMI insurance and they do not want the housing market to change.