May 18, 2012 at 6:19 pm #609TTrumbleMember
Hello Forum Members,
I wanted to take a moment and touch on a frequent topic both here in the forum and other media. I get messages every day from members saying something along the lines of, “After waiting for a response on my NACA proposal, I finally got a letter in the mail (or by FedEx) from (insert servicer name here) saying I have been denied. What do I do now?”
The answer is based in the statement, “If it’s not IN your NACA file, it’s not ABOUT your NACA file.”
As long as your servicer is one that NACA has a legally binding agreement with, any contact you receive directly from your servicer has nothing to do with your NACA file. Our contract with them requires that ALL communication regarding your NACA proposal MUST be made through your NACA file.
Here are the servicers we have agreements with:
Bank of America (including Countrywide and Wilshire)
Wells Fargo (including Wachovia and ASC)
Chase (including WaMu)
Ocwen (including Litton and Saxon)
GMAC (aka Ally Bank)
IndyMac (including OneWest Bank)
Seterus (formerly IBM-LBPS)
(These servicers, by the way, handle over 90% of the mortgages in the country)
If the denial is not posted in your NACA file, then it came from a different department that has nothing to do with your NACA file. This happens frequently, especially since virtually every person who comes to NACA for help with a modification has tried to work directly with their servicer to get a modification before coming to us. In many cases, internal modification reviews are still going on when a member starts working with us, so it is understandably confusing when the letter shows up at your door.
Just remember, if it’s not IN your NACA file, it’s not ABOUT your NACA file.
A similar common occurrence is when a member has submitted a proposal through NACA then receives a FedEx package requesting the same documents that have already been submitted through NACA. Again, it has been sent by a different department that has no connection to your NACA submission. The packet was probably sent automatically when the loan reached a certain level of delinquency. If there is a need for additional documents to go with your NACA proposal, the request will come through your NACA file. This is one of the reasons why we advise our members to make sure that they check their NACA file on line at least twice a week.
So once again, if it’s not IN your NACA file, it’s not ABOUT your NACA file.
Hopefully, this will clarify things and prevent confusion for many of our members. The primary reason we have the requirement that all communication go through your file is actually quite simple. By doing so, we can ensure that there is a complete, accurate and undeniable record of every step taken and every document submitted in the process. By making sure that your file is the one place that all information must go through, we are able to eliminate a great deal of the confusion and duplication that stalls and even thwarts the modification process otherwise.
So one last time, so there’s no doubt at all:
If it’s not IN your NACA file, it’s not ABOUT your NACA file.
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