I had my home financed through SunTrust mortgage and my loan was transferred, sold, or whatever to Litton Loan Servicing LP without any notice.

I am up to date and have never even came close to being late on my payments. I did some research on this Litton loan and have found page after page of complaints up to and including a few class action lawsuits for predatory loan practices and mismanagement of loan arrangements.

I need some advice on a solid mortgage company to refinance my home with to get away from this company. Any advice?


Thanks

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Satan creates nothing: he only ruins everything. He does not invent: he tampers. And his followers are no different ~ Archbishop Carlo Maria Vigaṇ

I don't think you have any control over who it's sold to.

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You don't need a weatherman to know which way the wind blows - Robert A. Zimmerman

Yep, once you borrow the money, the lender can sell it to whomever they wish. Ask Howie. He's in the mortgaging business.

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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

I understand they can sell it to whomever they please. I was asking if anyone knows a solid mortgage company I could refi with to get away from this shady one.

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Satan creates nothing: he only ruins everything. He does not invent: he tampers. And his followers are no different ~ Archbishop Carlo Maria Vigaṇ

Not a valid reason to refi. That said, a local bank or credit union would be much more likely to keep and service loans they placed.

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Terry Allison
N. Calif. & Boca Chica, Panama

09' E320 Bluetec 77k (USA)
09' Hyundai Santa Fe Diesel 48k (S.A.)

Agreed.

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1982 240 D, 308,000 - 321,127 miles (sold)
1982 300 TD,166,500 - 226,000 miles
1998 E 320, 120,000 - 144,000 miles
2005 C 230 K, 26,000 - 77,000 miles (sold)

Maybe I am missing something (I don't know much about mortgages as I never had a "real" one), but why do you really care enough to bother with changing?

As long as you make your payments, what's the diff? You have a contract (which I do know something about) that's not changed other than having been assigned to someone else.

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80 300SD (129k mi) 82 240D stick (193k mi)77 240D auto - stick to be (153k mi) 85 380SL (145k mi) 89 BMW 535i 82 Diesel Rabbit Pickup (374k mi) 91 Jetta IDI Diesel (155k mi) 81 VW Rabbit Convertible Diesel 70 Triumph Spitfire Mk III (63kmi)66 Triumph TR4a IRS (90k mi)67 Ford F-100 (??)

True, your contract is still in force, but they can still jerk you around with the escrow. Try to stay local/CU if their fees and rates are acceptable.

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2002 E320 4-Matic
2008 Subaru Outback
2009 Subaru Forester

Disagreed, about the part about it not being a valid reason. Look at some of the things OCWEN is doing... I'd refi with my Credit union. 100% keep rate.

The company that bought out my loan has a terrible track history and I am leary of dealing with them. I'm going to my credit union and the local Suntrust in the morning to see what my options are.

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Satan creates nothing: he only ruins everything. He does not invent: he tampers. And his followers are no different ~ Archbishop Carlo Maria Vigaṇ

Thats what happens, if you refi they will sell your loan as well, possible back to Litton Loan Servicing LP, although that company is probably just servicing your loan now, someone else is holding the note. Loan companies originate loans, than put them together in packages to sell, usualy a 401k or something like that buys the mortgages. Thats why they have to conform to Ginnie Mae, Freddie Mac, or Fannie Mae standards. (I forget which its late and I havn't read up on this in awhile) Chances are your mortgage will be sold several times before its term is up. 401k's buy a lot of them, well at least they used to. Part of the problem with sub prime loans is that no one wants to buy them anymore because of the defualts, hence banks are not originating them.

Just continue making your payments as usual, nothing has changed.

Realtor's get this call all the time, we expect it a few months in.

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2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Dubyagee, your right on the money, so to speak, with this one! Your going to be paying one way or another for their shoody business practises! A refinance to another mortgage company is a good idea and I would look into your Credit Union, they are a great source of resources for their members!

If a refi has other practical solutions now besides this, I say go for it.

From a homeonwer with a good credit rating who dealt with a predatory lender that tried every trick in the book and some not!

Shove it Novastar! You deserve to be dissolved and bankrupt you greedy SOB's!

Ask the company for an amortized statement of your balance. It will show every payment and the principal and interest part of each payment. Keep track of what you pay and what you owe. They would have a hard time trying to rip you off. Wait until it pays to refinance. Keep your eyes open.

I understand. For the record, mine is not a sub prime.

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Satan creates nothing: he only ruins everything. He does not invent: he tampers. And his followers are no different ~ Archbishop Carlo Maria Vigaṇ

I knew that, if it was just sold for the first time that means it must be pretty recent, and subprime has been dead for awhile.

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2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200