Servis One Complaint

Servis One, Inc. Mortgage department,

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure Massachusetts

1. Or about -/-/- a re-submission of loan modification was finalized but denial of loan modification followed in less than 30 days from resubmission in absence of calculative methods used to derive a reasonable mathematical explanation for denial of loan modification. 2. On or about -/-/- a formal dispute was submitted. Within 30 minutes from submission of formal dispute borrower received a call from assigned representative - -. - E-T - to inform that the underwriter could not approve modification as BSI could not derive an affordable payment from income provided and that investor would not go below 6 % to calculate new modified payment doubling the mortgage payment to about $12000.00 a month. 3. On or about -/-/- borrower requested denial letter and sent qualified written request. -. On or about -/-/- contacted BSI and spoke with assigned loss mitigation specialist whom provided the following information : According to - - : There is no material change so therefore there is a denial. Upon verbal request of income information the total income used for review was -. Income was derived no material change from previous review. - earnings are - semimonthly, real estate average - - - per the

did not add up including the source of the $4800.00 figure. - - could not clarify but and stated she would speak to underwriter and upper management and I would get a call sometime tomorrow. Although no clarification of income was provided to explain the $4800.00 figure it was explained that monthly income on RMA was compared to worksheet-net income to show property is not affordable and Income presented much lower than the income provided on RMA. However, this is a stretch since no income figures could be explained despite previous QWR. In the end the conversation ended with a promise to follow up and a call back but no material clarification was given to explain denial, which was the same promise made verbally in the last conversation not withstanding previous QWR and formal dispute requesting the same information. This modification has been in process for years. First with - who transferred to - - - who hired - to collect $31000.00 which I paid which was never applied to principal balance. Then loan was transferred to - - - - and now to BSI. I am requesting assistance with my mortgage loan modification and reasonable efforts on behalf of mortgage servicer to underwrite the mortgage for loan workout in a commercially reasonable manner. Circumventing requests for calculative methods to support denial is not commercially reasonable. Please see attached formal dispute and QWR 's. ( 2 on file )