Washington Mutual Mortgages

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Washington Mutual Is Unfair
Posted by on
I have my mortgage at Washington Mortgage. I have the payment automatically deducted every month from my checking account. I changed banks last month and tried several times to get on the web site to change the information, but the web site was always down. I finally called and explained the situation.

After being on the line for over an hour they said I would be charged $14.95 for a payment over the phone and an additional $39.00 for a NSF because they could not stop the request on the account I had closed - even though I was paying the payment 4 days before the payment is usually deducted from my account.
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Anonymous on 03/01/2009:
They should make a better attempt to stop the payment from the closed account and not charge the NSF on your account. However I believe that most auto-debit arrangements state that 30 days (or an entire billing cycle)notice must be given prior to the change taking effect.
Anonymous on 03/01/2009:
You should set up the payment from your new bank's bill pay site. It is never a good idea to give your account information to a creditor. If you do the payment from your own bank, you control the when and the how much, and you have proof of when the payment was made.
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Mortgage mess-up remains unresolved
Posted by on
WASHINGTON -- My wife and I have had literally stellar credit our entire lives. We have a long and reliable credit history. We purchased a home and got a 15 year FIXED mortgage.
We have religiously paid our mortgage on-time since.

Since the initial loan, our mortgage was purchased by Washington Mutual (WAMU).

We received a telephone call from WAMU’s collection department stating our mortgage was not paid for May 07. … what… yes it was???

Through some investigation we have learned that they determined our escrow was short and they raised our mortgage… get this… TWO YEARS AGO. We were never informed! We were told that every month our payment was short by this small amount that the mortgage was increased. All this time, as far as we knew we paid in full and on-time every month.

Evidently, they have been mailing notices to an incorrect address. NOT the “current” address for us listed on our loan application, NOT the property address where the loan was taken on (application flagged the property will be “PRIMARY RESIDENCE”). Evidently, they have been mailing notices to some other (incorrect) address they found on a credit report!

They have kept adding the late fees until they decided it was time to use our funds paid for May mortgage to late fees, leaving no money to pay the May mortgage, triggering a call to us.

We figured we could simply clear it up… right? NOPE! Their “dispute department” declined all claims by us. They insist that we owe thousands in late fees, and the negative reports to the credit bureau will remain unchanged!!!!!

What to do? They are to the point where they don’t return our calls anymore!

The originally agreed mortgage has been paid on-time every month for the past 4 years without exception. How were we supposed to know they raised the mortgage?? They admittedly didn’t send any information to either address listed on our loan application. They admittedly never called us prior to this.

Now, we are looking at expensive legal fees to clear this up!
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tnchuck100 on 07/22/2007:
Send them a certified/return receipt letter stating your position. Document your conversations with them. Spell out what you feel is the fair and equitable resolution. State your willingness to retain legal counsel, at their expense, to have a judge convince them this is their error and they need to take responsibility.
Anonymous on 07/23/2007:
Even if you do have excellent credit, request copies of you credit reports, annually (one from each agency every four months or all three annually). You may have caught this a year earlier if you had. Use the annualcreditreport web site and not the freecreditreport web site. The freecreditreport web site is a credit monitoring service whose hook is the free report.

Good luck.
Hugh_Jorgen on 07/23/2007:
This might be worth a few hundred dollars to get an attorney to write some letters on your behalf to let them know you are serious about clearing your credit.
yoke on 07/23/2007:
Did you receive mortgage statements each month? The reason I am asking is it seems everything else went to the wrong address, how did you get a statement each month. Each month it should tell you the amount due and how much is in escrow. Did you not get an end of the year statement for interest? Even if you paid it online you can still look at your statement. Something doesn't add up here.
Anonymous on 07/23/2007:
I agree with tnChuck on this and think that is your first best rout to go.

The second is to do the best you can to pay the loan off. I know that sounds impossible but it is doable. I know many people who do this very thing I my self did it a long time ago. If there are two of you working one of you takes all the money you make and either put it in a separate account or use it to pay as much as possible on the mortgage.

The only trick to it is whichever person’s paycheck you use you MUST use it as thought it never existed and you will be out of debt and save thousands of dollars in the process.

It’s up to YOU because the government does not do its job which is to regulate these companies and therefore these companies are not in it to make a living, they are in it to suck the blood out of you and your family they really don’t care.

Good luck to you either way
moneybags on 07/27/2007:
Contact your state Banking Commission. Include copies of evrything. They should get satisfactory results for you. My mom always said, "Go to the head, not the a$$."
Anonymous on 08/04/2007:
If you want to complain about Washington Mutual Bank, send your written complaint via certified return receipt to: Office of Thrift Supervision, Department of the Treasury, Consumer Affairs Department, P. O. Box 7165, San Francisco, California, 94120. In addition, send a written complaint to your State Attorney Generals Office, Attn: Consumer Affairs Department.
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Shady Business Practice
Posted by on
BUTTE, MONTANTA -- We have had a mortgage with WAMU since 1998 and never had a problem until we retired. The first shock came just before we retired when our payment was returned by the post office marked undeliverable. Again, I sent out another payment and again the same thing happened. Instead of a courtesy letter or phone call to see if there was a problem, we got a forclosure notice. When we finally got in touch with one of their reps,(which took several days) he stated that this cost us with a five figure penalty; which was added to our loan. We made up the missed payments and everything went along smoothly until a year ago when again amother payment was returned unopened by the post office and again with penalities. We never receive any statements or payment coupons - we are like a mushroom - always in the dark and never know what is goning on with our loan. They tell us they don't have to provide us with statement or payment coupons. When I finally retired, we had to change our payment schedule around due to different paydays. Everyone co-operated with us except WAMU making it very hard to get our payment to them on time. Several months ago they got my payment back to the bank before my S.S. check arrived and so the bank returned my payment - again another immediate forecloser notice. I have wiped out our savings trying to keep up with these people. Now they tell me within the next two months our payment will triple. It is impossible for a retired person to keep up with this type of business. I believe WAMU is prejudice against retired people and very money hungry. They prey on the elderly and don't deserve to be allowed to deal with anyone who may retire or become incapacitated in any way. They are calloused and inhumane. I recommend that anyone who has a choice in Mortgauge institutuions to choose any other company and stay away from Whasington Mutual.
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*Brenda* on 11/26/2006:
If your payments kept getting returned, why didn't you call THEM? It jut seems like the logical thing to do. Plus I found this on their website:

How can I make a payment today?
Using our Just-in-Time (JIT) EFT® payment system, you can make a payment over the phone until 9:00 p.m. Central Time Monday through Friday, or until 6:00 p.m. Central Time Saturday, and the payment will be considered effective that day (except on major holidays). To make your payment by phone, call us at 866.WAMU.YES (866.926.8937). We charge a $12 fee for making a JIT payment using the automated voice response system, or a $15 fee for JIT payments made through a Customer Care representative.
Gill on 11/27/2006:
We did call (immeadiatley following the reception of the returned checks) - it took approximately two days and several phone calls before we got any help from them. We did not have internet service at that time.
*Brenda* on 11/28/2006:
Why didn't you pay by phone then? You say you just sent out another check...
Gill on 11/28/2006:
They were paid in person at a bank in Washington
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Inept loan servicing and exorbitant fees.
Posted by on
CALIFORNIA -- A short time ago, I refinanced my home. The loan was then transferred to Washington Mutual who became the new "servicer." I was sent the notice of transfer which included the address for correspondence regarding the loan and one for payment. After finding out that they charge $12.00 per transaction on the internet, I opted to mail them their payment (They don't need another $144.00 of my money per year.) I received a call from their branch in Arizona informing me that they had not received my monthly payment. I informed them that I had mailed it to their address on the transfer letter (Kentucky) since they had never sent a coupon book nor an update letter specifying a different address. I also, at that time, asked them if they really charge 12.00 per internet transaction and $12.00 per phone transaction. I was really surprised to find out that they did indeed charge that amount. All in all, I concluded that this company is not consumer friendly, nor do they handle loan transfers in an expeditious and timely manner. I'm really turned off! They ought to be paying ME to deal with THEM!
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Anonymous on 07/02/2006:
Yup, it's a heartache. Some charge $5.00 - $30.00, etc.
Pay by check, and say yourself the heartaches.
Doc J on 07/03/2006:
As interest rates climb, look for more loan buying and selling, particularly with the higher risk notes. Even financing through a hometown bank doesn't guarantee they will service the note throughout its lifetime. There may be evidence that some local lenders are being used as shills by mortgage buyers having shady or abusive consumer practices. I predict more such posts.
rhondam718732 on 07/05/2006:
I have noticed that more + more companies are now charging or penalizing you for paying online/by phone...when just a few years ago these same companies gave you incentives for doing so. Paying by check is a slow and uncontrolled way to confirm payment is received on time or at all. It also leaves the sender with no idea when the check will be processed. Paying electronically is quick, accurate, and gives you an instant confirmation. My credit card company only allows you to make one payment online every 10 days...not sure why - it's income to them...
ladybug0330 on 01/10/2007:
I used to work for them, and in the industry the type of payment you refer to is called a "just in time" payment. The company gets tons of them on the 15th of every month from people who wait till the last minute & then have no choice but the pay the $12 or get a $30 sometimes higher late charge. You can always set up Auto Pay for free or just mail your payments.
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