FISERV LENDING SOLUTIONS SUCKS

Please read this and forward it to everyone you know.

If you don't want this to happen to you or anyone you know, and agree that when a company makes a mistake they should take responsiblity of their errors, please spread the word. If you have a mortgage company you currently deal with, please take the time to write them a letter letting them know that this is not acceptable and that Fiserv Lending Solutions is not a company they should deal with.

I am writing this message to get the word out about a company i am VERY displeased with. The company name is Fiserve Lending Solutions, which is a Title Company based in Rocky Hill, CT.. What this company does is when you finance or refinance a home, they make sure all the money from the loan companies are sent to the right places (old lender, credit cards, brokers, etc). I had recently delt with this company for my recent refinance and here is the story. The only company I will name is Fiserv Lending Solutions, the other companies involved will remain unnamed.

In April I had an interest in refinancing and taking an equity loan to pay off some revolving debts. I had contacted a good friend of mine who was a mortgage broker and he did some reasearch to determine what my best option was, either going through a bank or going with a mortgage company. Everything went smoothly and we ended up closing on June 2nd.

June 6th 2006- We received our check after our old 2nd mortgage, credit card, and mortgage broker were paid. We ended up receiving slightly more than was anticipated. The check was deposited the same day and some supplies to remodel our bathroom had been purchased.

June 8th 2006- We were contacted by Fiserv Lending Solutions stating they had made a mistake, and that hey had overpaid us $500 which was supposed to paid to the mortgage broker. They said they were going to do a stop payment on the check (which had already been deposited, but not cleared). I told them that would not work because

1: it would overdraw our account and
2: it would incur some fees.

I told them it was no problem for me to pay it back I went to the bank to get a certified check and mailed it off.

A few weeks later I received a statement from my OLD second mortgage holder saying I still had a payment due.

July 1st 2006. This is the due date for the OLD second mortgage. I called them to see if I still had to make the payment. They confirmed that it was still due and my account has had no payments made. I asked if they could supply some more info and they said that the payment was "non sufficient." I immediately assumed that the check from Fiserv Lending Solutions had bounced. Please note, my second mortgage company's customer service was outsourced to India so they were unable to tell me what was actually going on. I called my NEW second mortgage company and they had no way of tracking the payments because they made one large single payment to Fiserv Lending Solutions. I contacted Fiserv Lending Solutions and they could find no information as to who was dealing with my account and even who I was. I contacted my mortgage broker and he said he would look into it.

July 10th 2006- I received a call from someone at Fiserv Lending Solutions and said that there had been a mistake. They had not calculated the early payment fee ($1600) into the payment sent to my OLD second mortgage company and that they had overpaid me. The payment was "non sufficient" in the terms of not being large enough to pay off the whole thing, not like being a bad check as I first thought. She said that I should "not worry about it" and that they would work with my NEW second mortgate comapany to care of it, and that they would either pay it or split the difference with the NEW mortgage company. They told me that if I receive another statement from my OLD second mortgage company that I should ignore it, but by any chance, if 2-3 weeks rolls around, that I should pay it so that I do not receive a 30+ day late strike on my credit report. My mortgage broker called shortly after to tell me the same thing, and that it was very rare that this kind of thing happens and that I was very lucky. After speaking to them I decided to finish doing the bathroom remodel and pay off some additional bad debts. A couple weeks later I receive the statement from my OLD second mortgage company, so I just put it off to the side.

July 28th 2006- I receive a phone call from Pam at Fiserv Lending Solutions. She explains what had happened again and that it was due to a "clerical error" on the part of my NEW second mortgage company. She said although it was a clerical error, it was still my responsibility to pay the early payment fee. She also explained that I should be able to talk to my OLD second mortgage company and work something out as to a payment plan instead of having to make one large payment. She then told me they were willing to take care of the interest that had been incurred due to the payment being rejected and returned several times and not posting on the closing date. This amount was $154.XX. She asked me if I understood and agreed. I told her that I understood, but I would have to make some phone calls before I agree to anything. I called my mortgage broker again and he said he would do some more searching. My mortgage broker asked me what they said, and I had told him that they said it was a "Clerical Error" that they pointed the finger at the new loan company. He then told me that the NEW loan company has nothing to do with where the money is distributed and that it was Fiserv Lending Solutions error.

July 31st 2006-I receive in the mail a document that stated "as per our conversation, blah blah blah" pretty much explaining that I had AGREED to paying the early payment fee and that an interest check would soon be following. I had contacted a couple lawyers and have had no calls returned.

The point of this message is to let everyone know that this company is not willing to take responsibility for their errors, and making false promises ("don't worry about it, we'll take care of it") and pointing the fingers at other companies when it had nothing to do with the error. Not to mention it took 2 months for them to figure it out. If they could have told me in the beginning instead of "don't worry about it" then maybe I would not be so upset about it. If you don't want this happening to you or anyone you know, forward it to everyone you know. Post it on Forums, repost it in bulletins, just copy and paste.. I have already sent them a letter and have had no response. I want them to know how very dissatisified I am with them and what lengths I will go to let everyone know, and maybe they'll feel the kick in the pants that I felt.. Currently I am paying 3 mortgages and working two jobs, and ended up in deeper debt because of them. Once they take responsibility for what they've done wrong I will then remove this page. Until then this is here for all to see and know.

Joe Schesso
fiserv-lending-solutions-sucks@hotmail.com
www.fiserv-lending-solutions-sucks.com