Letter Template: Qualified Written Request
If you are having issues with a bank and are not getting direct answers about payments or credits you may send a letter of Qualified Written Request in which a response is due to you in a timely manner. Given the amount of issues we are seeing with mortgage modifications and lost payments we have included a letter for that below.
Please note: this is not legal advice but a resource and is a consumer right under federal law.
For more information as to what a Qualified Written Request is you may visit the official Federal Trade Commission site here: Qualified Written Request
I am writing to you to complain about the accounting and servicing of my mortgage and my need for understanding and clarification of various charges, credits, debits, transactions, actions, payments, analyses, and records related to the servicing of my loan from its inception to the present date. As such, please treat this letter as a “Qualified Written Request” under the Real Estate Settlement Procedures Act, codified as Section 2605 (e) of Title 12 of the United States Code.
I am concerned that my loan has not been properly credited, amortized, calculated or serviced properly on account of payments that are not being credited to my loan balance. Currently I am being reported to the credit bureau agencies as [XX] months behind on my payments. These payments include [list months here] 2010. However, I have made these payments. This is dramatically affecting my credit score.
I am also concerned with the ownership of my promissory note and I cannot identify or determine:
a. to whom my actual obligation is owed;
b. who is my actual lender
c. your authority to collect payments or to engage in home retention / loan modification processes.
The current amount you claim I owe as the principal balance due on my loan is not correct because of, among other things, the fees that were included at loan origination and during the servicing of this loan through the filing of the pending foreclosure.
In addition, I am concerned that my escrow payments and/or my monthly payments have been erroneously applied and that I am being charged more than what I owe especially because of the failure to provide proper home retention servicing.
Upon receipt of this letter, please refrain from reporting any negative credit information to any credit reporting agencies until you respond to the requests set out below in this letter.
My home is a very important and valuable asset to me that I desire to protect. Please don’t infer any negative connotation by my letter, but the industry-wide practices employed in recent years trouble me and I am seeking information to not only alleviate my concerns, but to guard against future problems.
My request for information:
1. A complete explanation of the months in which payments were allegedly missed, the aggregate late charges imposed for all such payments, the date and amount of all account payment postings and the basis for the imposition of each late charge fee.
2. The current amount needed to pay-off the loan in full in the form of an itemized printed payoff report.
3. A complete payment and transaction history for my loan, including all entries of any nature in the form of a debit, a credit, a transfer or otherwise. A complete copy of all transaction codes associated with the accounting, payment and transaction history for my loan and the plain English definitions for each code. Also, please identify the mortgage servicing software you use in connection with my loan (LPS, etc).
4. The amount of any funds deposited in any suspense accounts or corporate advance accounts or any other similar accounts (including the amount and date of each transaction, the source of funds, and a description of the deposit account) and a description of all payments from any such accounts including the date of the payment, the purpose or nature of the payment, and the amount of each such payment.
5. A copy of any master pooling and servicing agreement, master servicing agreement, primary servicing agreement, default servicing agreement, or sub-servicing agreement that concern or relate in any way to my loan.
6. A copy of all of your loss mitigation rules, home retention, loan modification rules, obligations, policies and/or regulations and protocols that apply to my loan and a description of your efforts to implement the same in connection with the servicing of my loan.
7. A copy of statements or bills for services submitted and paid by you to any attorney, law firm or third-party for any form of legal services rendered with respect to my mortgage loan.
8. A copy of the most recent audit of your Bankruptcy or Default Mortgage Servicing Department by any rating agency such as Fitch or any internal unit.
9. A copy of the front and back portion of my original promissory note as it exists today along with all endorsements, affixed or un-affixed allonges, and assignments whether recorded or not.
10. All executed assignments associated with my loan including, but not limited to assignments, transfers, allonges, or other documents evidencing a transfer, sale or assignment of my mortgage and/or my promissory note from the inception of my loan to the present date.
11. All records, electronic or otherwise, of assignments of my mortgage, promissory note, or servicing rights to my mortgage.
12. All escrow analyses conducted on my account from the inception of my loan until the date of this letter.
13. Identify and provide documentation of your servicing relationship with my loan.
14. Identify if you are you the servicer, master servicer, interim servicer, private label servicer, default servicer, sub-servicer, and/or special servicer of my loan.
15. State if and when my loan has ever been securitized.
16. If my loan has been securitized then provide me with all documentation evidencing:
a. All trusts, SPVs, QSPEs, REMICS, and entities that my loan has been assigned to from its inception to the current date.
b. The current trust, SPV, QSPE, SPE, REMIC or entity my loan is owned by.
17. If there is any Fannie Mae, Freddie Mac, Ginnie Mae, FHA, HUD, VA, or private guarantee related to my loan, provide documentation to identify who has provided this guarantee and what portion of my payment goes to this guarantee.
18. Identify the document custodian that holds my original promissory note as signed.
Thank you in advance for addressing my requests as required by law.
[ACCOUNT NUMBER, SS#]