Freddie Mac concerned about American Home Mortgage loans -

Full story: Newsday

Freddie Mac, a government-backed mortgage buyer, has filed court papers claiming bankrupt Melville-based lender American Home Mortgage's handling of the loans it continues to service have exposed more than ...

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I broke the code

Fort Lee, NJ

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#23
Sep 18, 2007
 
Bite Me wrote:
AHM sucks! always has..arrogance ran the company, luck with the real estate market boom lined management's pockets. Executives granted annual bonuses that exceeded annual salaries year after year; and these are operational executives at the corporate home office in Melville, not account execs. or loan officers.. Is there a term for "legal rape?"
Strauss and Hozie will join Enron's boys in prison once the current 7 investor initiated class action suits move forward. Justice Dept. will follow thereafter once informatiom is disclosed and substantiated. Just wait and see.
Good luck. Seriously. It would be good to see a few more of these miscreants do hard time.
Anna

United States

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#24
Sep 18, 2007
 
the article is inaccurate, AHM is still paying taxes for the homeowners that have been escrowed. try not to believe everything you see in the news, more often than not the author doesn't even know the subject matter he or she is writing about.

Reality check, who needs a reality check?????
dave

Mukwonago, WI

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#25
Sep 21, 2007
 
seeing that ahm stock has plummeted 90 percent and and and have filed chapter 11, do any of you think that the stock will rebound in the event that they can repair the damage or someone by them outright and make the loans and the consumers solvent once again.
Bush bot

Fort Lee, NJ

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#26
Sep 21, 2007
 
You're good at catching falling knives, right?
Beth Wright

Knoxville, TN

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#28
Oct 3, 2007
 
What will happen to my Escrow money when my house is sold ? I sold my house & we are scheduled to close within the next few weeks.
Normally the Escrow Balance is refunded to the seller after closing.
I know that they haven't paid my October 07 property taxes and there is more than enough in escrow to pay this.
Anna

United States

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#29
Oct 4, 2007
 
Beth,
they are "claiming" they are sending out new checks to replace the ones that bounced. But, being the liars they are the jury is out.

If you go on their web site they have a phone number for the Counties to call if they haven't received their replacement checks. You may want to call them.

I would do it fast - the slime stayed behind.
ron

White Plains, NY

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#30
Nov 26, 2007
 
Belle wrote:
American Home Mortgage certainly
ruined many families. I don't know
how the founder can live with himself or how the "in your face" brokers can
sleep at night.
This is not the brokers fault!!!!! They all signed the pappers agreeing to pay the mortgage... and they all had benifit to doing the loan..... there monthly oblogations had gone down.
Home owners not paying there loan is there fault NOT THE BROKERS.... The broker did not say do not pay your loan everybody needs to wake up and stop blamming the banks and the brokers or the under writers.... every body was put into a better situation.....
ron

White Plains, NY

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#31
Nov 26, 2007
 
Cant believe it wrote:
tucsonblonde, I see your point when you say people look to the mortgage brokers as the experts when getting financing for a home. However, did you know that (at least in NY) there is no educational requirement, no criminal background check, no test to take, etc., and anyone can call themself a mortgage broker?(A mortgage banker is a different story.) Even real estate agents have to at least go to school, take a test, and take continuing education credits. A lot of crooks and incompetents who could talk a good game got into the mortgage broker business. But the general public didn't know that. I agree with you that these mortgage brokers should share in some responsibility for helping people take out loans that they cannot afford.
That being said, tucsonblonde, the borrower who is buying the home is the one who signs on the dotted line stating that they are sure they can repay under the terms in the contract. In the end, we all have to look out for ourselves and do the math. Particularly when one has an ARM mortgage.
As per your post, I am glad you are not one of the ones in trouble.
This is not the brokers fault!!!!! They all signed the pappers agreeing to pay the mortgage... and they all had benifit to doing the loan..... there monthly oblogations had gone down.
Home owners not paying there loan is there fault NOT THE BROKERS.... The broker did not say do not pay your loan everybody needs to wake up and stop blamming the banks and the brokers or the under writers.... every body was put into a better situation..... Plus the broker did not under write the loan ,,,,they found the investor....if you do not know the bizz then you all should just shut up get the facts..........
ron

White Plains, NY

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#32
Nov 26, 2007
 
This is not the brokers fault!!!!! They all signed the pappers agreeing to pay the mortgage... and they all had benifit to doing the loan..... there monthly oblogations had gone down.
Home owners not paying there loan is there fault NOT THE BROKERS.... The broker did not say do not pay your loan everybody needs to wake up and stop blamming the banks and the brokers or the under writers.... every body was put into a better situation..... The only thing to do know is to start it all over again and give everybody a second chance cause there is no other way out and no the rate needs to go even lower or go with a 50 yr mortgage to get everyone out of this mess and to save the US from a depression mess...
Jason

Mchenry, IL

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#33
Mar 18, 2008
 
They have not paid my taxes and there is twice as much money is my escrow as they need. Now they don't even answer the phone. I got a letter saying someone bought my taxes. What do I do? Money is there.
Tired

United States

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#34
May 24, 2009
 
I agree with I broke the Code....AHM SUCK! They claim I have a shortage in my Escrow....Why, they have had the loan for over a year now!! It's a lie because there are no increases in my taxes and very little in my insurance. To top that off I noticed my statements were only showing principle and interest amounts due but I continueously paid the correct amount including my taxes and insurance. I am sick of the run around! If anyone has information on the home office please advise me.
Tired

United States

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#35
May 24, 2009
 
I broke the code wrote:
<quoted text>
Good luck. Seriously. It would be good to see a few more of these miscreants do hard time.
Can you please provide the corporate office address and or phone number?

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