Posted by snowflake/PA on 3/23/09 8:07pm
Msg #281887

21st century

I have just recieved a request for loan modification application from this company. I have been asked to have docs signed and to pick up post dated checks to secure the arrangement. I question the practice of picking up checks. Does this not put me in the position of a collection agent for 21st century, and therefore subject to all state and federal statutes regulating collection agents ?

Reply by Lee/AR on 3/23/09 8:17pm
Msg #281890

No more so than picking up certified funds for a refi, imho. Now 21st Century is a whole 'nother ballgame than a refi with cash due. Your call.

Reply by Linda_H/FL on 3/23/09 8:19pm
Msg #281891

Depends on the state, Lee

it's illegal in FL (and I believe CA) to collect money up front for loan modifications....money is to be collected AFTER the process is complete...several other states have legislation pending regarding this...this was discussed over the weekend...

Reply by Linda_H/FL on 3/23/09 8:20pm
Msg #281893

See thread beginning with Msg #281703 n/m

Reply by trnsa_IL on 3/23/09 8:23pm
Msg #281894

It is a personal decison, but I stopped returning their calls or answering them if I can help it. I am just not comfortable with their company, and since I can choose who I work with, I choose not to work with them.

I was asked to do the same as you once, the homeowner was hesitant, and told me not to come. TFC called him and tried to convince him to do it. Called me back, he is ready to sign. That is not what he told me when I called back to confirm. He felt they were pressuring him into signing up and paying them. Hurry! hurry! Hurry! I haven't been available since.

Reply by ChristineHI on 3/23/09 9:36pm
Msg #281904

This company called me 2 weeks ago with a modification application. I never received a confirmation and called numerous times to request one. Finally I told them I was canceling and if they wanted my services to call me back. Didn't hear anything until this weekend when I received docs! I wrote them back and said that it is not mine and that I will not work for them since they are so unprofessional. I didn't have a confirmation or anything to even arrange the signing. The signing is also in a location that is 3 hours EACH WAY in driving so of course I was not going there. I told them this signing would not be occurring with me.
I am now waiting for the call asking me how the signing went since they never responded to my email stating that the signing would not be occurring. :-) Weird...very weird!

Reply by PMI/NM on 3/24/09 12:04am
Msg #281919

I have done two loan mods for this company. After about a month or two I have received a call from both of the borrowers asking for information about their modification. Very uncomfortable place to be in. I have taken the moral high ground and told them I would not sign anymore for them.

Reply by LKT/CA on 3/24/09 12:54am
Msg #281923

<<<I question the practice of picking up checks. >>>

Being that this company has been discussed before, I question their practice of asking notaries to pretend they are employees of this company, thus misrepresenting their position and role to clients. That alone makes me wonder what else could they possibly be misrepresenting.........hmm!

Reply by Carole Breckbill on 3/24/09 12:45pm
Msg #281964

Me, too. Future response for me is to just say no thanks. n/m

Reply by Ilene C. Seidel on 3/24/09 7:19am
Msg #281932

I agree with everyone I think this is a moral issue. Some of the info they tell the BO isn't the way to go about a mod and I think the BO is putting themselves in deeper. I did one it took me hours talking to the customer and walked away without them signing. I will never do it again, it didn't feel right.

Reply by anita55109 on 3/24/09 7:49am
Msg #281934

I will NOT work for this company. No one should after the 20/20 exposure of the other comparable company on Sunday evening. They are taking advantage of a group of people that are down on thier luck and very vulnerable. Thats not what I do.

Reply by Ireneky on 3/24/09 3:09pm
Msg #281990

I did one of these signing a couple of weeks ago. I too felt uncomfortable about it, but the borrowers seem to know what they were doing and I did tell them that I was an indepentent contractor and I did not work for this company. I'm not going to lie to anyone. I did get paid right away ( the next week )

Reply by ChristineHI on 3/26/09 2:42am
Msg #282169

Wow, I am glad that they never sent me a confirmation so I never had to work with them. They never responded to my email either. I guess they get a lot of irate emails or something. I have never heard anything since the initial phone call and then docs were sent. Nothing else. Weird.

Reply by CopperheadVA on 3/26/09 6:51am
Msg #282173

They did the same thing to me - booked me for a job two weeks in advance, never sent the confirmation as promised. Called me on the scheduled day of the signing to say they were sending docs and I told them I had never received the confirm and would not be doing the job for them that day. Very strange way of doing business. After reading all the other negative experiences that others have had with them as well, now when they pop up on my caller ID, I just send it to voice mail.