30 April 2004
No symmetry here, folks
Renee at Ailanthus finds this just ever-so-slightly inconsistent:
When I sign for a loan the bank hands me 3,000 pages of fine print covering everything they can do to me, with me and regarding me should I fail to fulfill my end of the deal. Meanwhile, they look at me cross-eyed if I ask them to sign 1 piece of paper guaranteeing I will be able to speak to a live human when I call and that they won't sell my loan to another company that I know nothing about.
It's a bank, fercryingoutloud. The chances that there are live humans on the premises at all are something less than fifty-fifty.
(I asked Soothing Mortgage Company about that last bit. They said that no, there weren't any ironclad guarantees, but they'd never actually sold any such loans, and offered to produce evidence some sort of Fannie Mae report, I assume to this effect.)
Posted at 6:32 AM to Dyssynergy
Our previous mortgages were both sold to another company -- but not one we knew nothing about, it was Wells Fargo.
Then it turned out we didn't know as much about Wells Fargo Mortgage Co. as we thought we did. Wells Fargo Bank is still the House of Horrors we remember, but the mortgage company was so separate that only recently has the bank company actually acquired the mortgage company.
Now we're scared.
Perhaps if the bank were asking Renee for money, she'd be in a better position to get them to agree to her terms. Nobody put a gun to her head and forced her to go try to get a mortgage, did they?
And, of course, she could always take her business elsewhere, and get basically the same set of responses.
It's going to take a whole lot of people refusing to put up with this sort of thing before banking changes its ways.
(Hey, at least I didn't say "There oughta be a law.")
I don't know about getting the bank to sign a piece of paper regarding live operators, but every piece of paper you sign or are given when a loan is made, for whatever purpose, represents the fact that a lawsuit was filed against a financial institution regarding the exact issue that document represents. If there had never been a problem, there would never be a piece of paper.
I know it's a hassle, but think of it as a little hassle to prevent any big hassles on down the line.