AHMSI (American Home Mortgage Servicing Inc) purchased substantially all of Option One Mortgage

AHMSI (American Home Mortgage Servicing Inc) purchased substantially all of Option One Mortgage about two years ago. AHMSI is owned by the texas billionaire Wilbur Ross. A number of Option One’s loans are now serviced by SPS, Select Portfolio Servicing, formerly Fairbanks Capital,which changed their name following DOJ sanctions and a 48 million dollar fine. Another entity, Sandhills mortgage or financial, took over the dregs of Option One’s business not purchased by AHMSI. I am not sure of Wells Fargo part in this scheme.

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98 Responses

  1. Go to my facebook page “patrick ainsworth” please sign my fairness in mortgage petition.Do not let these chriminals steal one more house!

  2. Please go to my facebook page “patrick ainsworth” and sign my mortgage fairness petition-do not let these criminals steal one more house!Hold them accountable!

  3. Rob: Wells Fargo Bank NA (Trustee Guaranty Certificate) Fannie Mae Freddie Mac Hud FHA US Treasury ‘investor’.

  4. omg ahms need to be put out of business i too ask for a modification after a year of asking for the same paper work i had already send i didnt answer any more of their reguest , i just keep paying my mortgage . and i have a arms that i hate.and my rate is 9/25 been in house for 10 years.just wanted the mod to get out of the arms.i want to refin while the rate is low.how do i find out how much e i have in house .if there is a class action i want in on it. also why is the gov. letting them do people this way?????????????

  5. i got a letter from “Real Estate Law Center, PC” listed in Los Angeles regarding “Notice of Mass Tort Lawsuit” regarding American Home Mortgage.

    AHM services my home loan, i want to ask is this lawsuit legit? should i call this law center? or is it just another scam in the world of home mortgage horror?

  6. whats up, love your blog about independent mortgage broker and phone no

  7. Guess I’ll add my story here as well. In June 2010 I was hospitalized with heart issues and, as a result of being self-employed with no health insurance, we fell behind in our mortgage payments to AHMSI. In early September 2010 we tried to send a payment of $4K to get caught up and they refused to accept it. Instead, they insisted on putting us in a loan modification. From October 2010 thru February 2011 we submitted the required paperwork numerous times. In December 2010 we even tried to make another large payment but it was refused. Several AHMSI reps told me the money would not be applied and would be a wasted payment (“down a dark hole”). So we paid medical bills instead.

    In February 2011 we were told we qualified for a HAMP instead. After 2 more months we were put on a 3-month trial payment plan. I submitted my first 2 payments early. A week before the third payment was due (May 2011) I received a call from AHMSI that we, in fact, did not qualify for the HAMP since we had supposedly been in a loan mod in 2010. Therefore, we were dumped out of the HAMP program and informed we would be foreclosed.

    In June 2011 we put the house on the market for a short sale and, within a week, received an offer. From June 2011 until November 2011 AHMSI was “processing” the offer. We finally received a closing date in late November 2011. Unfortunately, the buyers decided to walk – I believe because it took so long for AHMSI to process the short sale – and now the house is back on the market.

    I haven’t made a mortgage payment since making the 2 trial HAMP payments last year. Every 2 weeks we receive a call from AHMSI asking of our intentions. I remind them we’ve been approved for a short sale, our house is on the market, and we’re waiting for an offer.

    These people, especially the nice customer service reps overseas who you can barely understand, don’t have a clue. When they apologize for the inconvenience I remind them that it’s a lot more than an “inconvenience” to lose one’s house to foreclosure.

  8. WANTED: BK/Litigation council in S.D. CA with full understanding of established up- to -date case law relating to lender fraud/predatory lending issues on the 1st.
    ISSUE: A Trust Deed Sale on the second is set for Oct. 12. 2011. Both notes are purchase money debt. A verbal offer to settle the second @ 25% of the face value was presented last month & the notice of sale was posted on the property, my primary residence, on 9.28.2011.
    ldsaterbak@aol.com

  9. BoA just reduced my credit level due to when i was on the HAMP back in 2010. AHMSI reported then i was late on payments.

    my credit score has since gone back up to over 760 but BoA decided to jerk me on the CC.

    my home was fixed modified by HAMP/AHMSI/NACA so i’m good shape there.

    so what the heck is up with BoA? i owe less than 1000 on their CC, on a fixed monthly income as a disabled veteran. guess i’ll bank more with Chase as BoA is odd.

    and no, AHMSI won’t take the bad mark off my credit report, i’ve tried.

    i’ll never buy another home again, way too much of a nitemare in this country

  10. Trying to find Steve in Miami-have so many questions from your post. Please post if you’re willing to exchange contact information.
    Aimee in California

  11. If anyone has any information on a lawsuit generally or in Washington state please contact me andreadcollier@gmail.com

  12. http://classactionworld.com/American+Home+Mortgage+Securities+Litigation./saaoc/24133.html

    aren’t any other investors suing them?

    is the above link relevant to the link mentioned in previous post by steve?

    http://securities.stanford.edu/1037/AHM_01/200863_r01c_0701898.pdf

  13. I have been in foreclosure with AHMSI since 12/01/2007. I was one of the lucky homeowners who was able to go to court early enough with my attorney to stop them. I was screwed out of $25,000 to refinance my loan to a fixed rate note which in the end was not fixed but interest only for 5 years and then a huge payment jump at year 6. On the day of closing, I was not able to read the Settlement Statement because it had been faxed to the notary in its illegible format. I called the broker the day of signing and told him and he said if I did not sign the loan documents today, the type of loan I was getting would not be available to me next week. He said he would fax me over a clear Settlement Statement the next morning. He did, and it too, was illegible. I ending up not recinding and received a true clean copy the following week. My loan was with Ameriquest originally with a Pre payment penalty and I ended up refinaning within 6 months of the original to pay off car loans, credit card debt and kids college tuition. I was told the Pre payment penalty was waived when it clearly was shown being paid from the new refinancing loan. The broker ended up, with his kick back from the Ameriquest, a commission of $18,000 and I paid a Pre payment fee of $25,000. All in all, it cost me, not including closing costs, 43,000 to pay off only $88,000 addiitonal debit. I was blind because what I focused on was the payment I was getting with the new loan. It was extremely lower than my original loan and all in all, it appeared I was making out by saving a bunch per month. It was a teaser loan with a low starting interest rate and then dramatically increased at year 6. My payment went from $1700 to $3900. Almost double and my credit score at the time was only 605.

    The civil case against me ended up including my partner (whom is not a signer on the note/but a deed only holder) were both equally being held responsible for the loan and AHMSI was suing both of us. I originally had my attorney file a motion of dismiss due to the fact that my partner was not a holder of the note and never was and that I was the only one who filled out the application and in the end financed the loan. AHMSI responded with 5 affidavits to the court stating that these affiants all saw the original note and that my partner was a holder of the note. So I challenged them in court by appearing with the what I believe is the only true copy of my note, which clearly shows me and me alone. The judge then questioned AHMSI attorney after I showed the judge the note. He had no answer to give how I could hold a note in my hand which was notorized and signed by me without my partners name and how these 5 affidavits stated that AHMSI employees (5) saw the note and it had an additional note holder. This was all before the beginning of the entire mess found with Bank of America and the notary scandle and the fact that these notes sold as securities cannot be found. This judge fined the attorney $10K, and each Affiant $1K for fraud and trying to defraud the court. They were given the option of presenting the actual note in court, or pay the fines until they found it. Well, 4 years later and after numerous attempts to modify my mortgage and submitting at least 7 sets of modification documents, the judge threw my case out of court back in Jan of 2011. This restored my ownership, ordered a dismissal of the entire case, and I get to stay in my house mortgage free by just paying the taxes and insurances myself rather than the orinal method of escrow. So far I have heard nothing from AHMSI by mail or phone and no new foreclosure case has been started nor is there anything in public records where they are trying to serve me new papers to foreclose.
    Not sure how long I have or how long this will play out, but I look at it this way. These crooks are paying me back the $48,000 they stole from me and so until any monthly mortgage payment or payments have not been paid that equal this amount, I will live here with no payment due to any one. I don’t feel guilty, at least wont until I have recoup my losses.

    So anyone out there that states that the lender can foreclose without the actual note, may or may not be true. My could not produce the original note, nor even a copy of it, and my case was dismissed. The last thing the judge said to me was; “You can go back to enjoying your home and know, you own it free and clear unless proven otherwise”.

    Happy in Miami

  14. neidermeyer,

    Ross formed AH Mortgage Acquisition Co. to buy bankrupt American Home’s servicing unit that collects payments and maintains escrow accounts for about $57 billion in home loans.Wilbur only wanted the servicing rights. He didn’t want to be an investor.

    See, AHM was already nuked in 2007 when investors and shareholders learned that the loans were all lies and crap. AHM couldn’t sell most of their crappy loans to investors so they stuck them in their own real estate investment trust (REIT)

    When your looking at the AHM Investment Corp. stock, I think your seeing loans still left for sale. But every investors knows now what’s left is a bunch of crap loans that are going to default.

    This lawsuit is a long read but paints a perfect picture to the whole AHM story.

    http://securities.stanford.edu/1037/AHM_01/200863_r01c_0701898.pdf

    I think Ross is fully aware that all the loans are lies and crap. He doesn’t care, he just wanted to get in on the mortgage industry. Since AHM got the boot in every state, if you go to the Department of Corporations you’ll see AHMSI making a brand new mortgage licensing start.

    His new AHMSI got called on for using LPS but said they didn’t realize any wrong doing and claims they stopped using them.

    LPS is the parent company to the foreclosure mill processing business. Then they sub out a bunch of subsidiaries, such as LSI or Fidelity, to process and record your NOD and Notice of Trustee Sale.

    When Ross bought AHM in bankruptcy, part of the SEC contract was ALL mortgage document files transfer. AHMSI has all your files. They should be the ones you face in court but instead they got MERS to substitute trustee to get a foreclosure mill subsidy to kick you out. They’ don’t want to be the ones to show up in court with your original files. They want the broke bankrupt us to try and fund a lawsuit. At least that’s my take on it.

  15. It is widely quoted that AHM bought “most of Option Ones assetts” … Most of Option Ones MBS’s had WF as the trustee and we know from experience that WF destroyed the notes if they had them.. It is highly likely that Option One (Sand Canyon) actually legally has posession of the notes and can foreclose … BUT this will of course nuke AHM , WF and whoever bought into the MBS’s …

    AHMSI seems to sub out the actual servicing to LPS when a mortgage “goes into default” which implies that LPS is actually performing ALL of the servicing…

    AHM’s market cap (at $0.03/share) is only $1.8M and has been as low as $600,000 in the past few months ,, Wilbur Ross obviously isn’t bothered by this or he would buy it out and take it private.. I see this as an opportunity for a single wealthy individual to swoop in and claim all the “assetts” for themselves. The servicing rights should be worth more than that and you’d only need 50% +1 share to get control…

    Assuming that LPS is the actual servicer what would they have that would be of value to us?

  16. If you click on the third link to my last post (http:businessweek.com), go to the AHMIQ charts and bring up the five year history. Approx. 06/15/2007 they were at $22.30 and by 08/06/2007 they were slammed to pennies. They knew. The shareholders knew! Where were you and I ? Cleaning house, mowing the lawn, unknowing being set up to get screwed.

    HECK ! Even the SEC went after AHMSI executives for fraud and settled.

    “American Home Mortgage actually originated the majority of its loans in 2006 on a “stated income” basis without verifying the borrower’s income”

    http://www.sec.gov/news/press/2009/2009-92.htm

    What happened to you and I ? You already know.

    Meet the curb! Here’s a 650 page book from the Financial Crisis Inquiry Commission you can read to pass the time away. Good luck starting over and finding a job. No one cares that you were honest delivering your taxes and statements to the mortgage broker. Good luck finding that lawyer to defend you. Perhaps you can hire one with your food stamps. Sucker!

  17. how can AHMSI stay in biz if its OTC value is 0.02?

    if so many other banks/servicers are getting hit in the courts how come no one hears of AHMSI ?

    since AHMSI isn’t actually a bank, then OCC can’t help home owners?

  18. You have all read the OCC’s enforcement action against eight mortgage servicers and two third-party service providers. If not please read.

    http://www.occ.treas.gov/news-issuances/news-releases/2011/nr-occ-2011-47.html

    Borrowers who have lenders who are subsidiary to National Banks are getting help through the OCC by filing a complaint with HelpWithMyBank.gov.

    AHMSI is NOT a National Bank! You may think these actions are based on the pools your loan is in. They aren’t. You may think because you have MERS and LPI these enforcements apply. No.

    These two links are AHMSI company profile. AHMSI bought Flower Bank and changed it’s name to American Home Bank.

    http://www.reuters.com/finance/stocks/companyProfile?symbol=AHMIQ.PK

    http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=AHMIQ:US

    AHMSI is sneaking out the bank door simply because the aren’t a National Bank. We may have to act fast really fast. Tower Bancorp who acquired American Home Bank is closing it’s doors.

    http://www.tradingmarkets.com/news/stock-alert/fcec_tobc_american-home-bank-at-risk-of-closing-1398505.html

  19. I have all the complaint’s as everyone else. What I want to know is why doesn’t anyone know about the lawsuit agains’t ahmsi and how to join it. That seems pretty wierd to me.This company needs stopped.All the complaint’s are every where but no info on anything.

  20. In 2008, received foreclosure notice early in may for foreclosure at end of month. Illegal in state of va. Went to local agency to mediate modification. Got documents approving mod at agency from ahmsi. Never got further documents providing loan info including where to mail payments. Agency told me to send first payment via western union to address listed on document. I did so but never heard another word. Attempted to contact ahmsi and got processor to make certain western union money received and asked when statements/coupons would arrive. Processor could not assist me but did give me an address to send payment in meantime. After 12 months never receiving statements but continuing to make payments was shocked to find out home was in foreclosure. In Nov 2009. Been playing the hamp game for 17 months now. Claim I never send in all documents then start over again. Have others experienced the lack of payment statements, documents, etc.? If so, what does this mean? My life has become a nightmare of epidemic proportions. Any advisement would be appreciated.

  21. hey VERY SAD

    do you have an update on your situation with AHMSI?

  22. hammertime,

    ahmsi did the same with my loan. the only answer i received was that their system had been updated and the loan num’s were changed.

    never got a truthful answer regarding that question. “truthful”, meaning, i just don’t believe them

  23. my mortgage has been serviced by ahm citicorp and now ahmsi when they took over my loan they changed my loan number when I asked them they were clueless does anybody have a answer

  24. Hello

    I applied for a loan mod because I had lost my job, which loan mod was approved in November of 2010. Well, in December of 2010, I decided to file BK becasue this is the advice that was given to me that after loan mod to file BK. The supposedly attorney I was dealing with for BK told me not to make my December payment, which i didnt’ and now I received a letter from the investor of AHMSI that they are suing me for non payment since loan mod was approved. What can I do because I do not want to lose my home at all. Please advice

  25. Ahmsi canceled my foreclosure and I don’t know why?
    For 2-1/2 years I have been filling out mod. forms every 2 months. I have been to court about 7 times for what they call mortgage mediation where you deal direct with the banks lawyer and try to work this out well they told me no (because I never submitted proper forms tax/ect.) their was nothing they could do and they were moving forward with the foreclosure process three months later all foreclosure action canceled. now it’s been 3 years and they are sending mod. paper work again. I don’t understand what there doing

  26. I have a whole file drawer on this company. We have been having problems with AHMSI for almost 4 years now. I have contacted an attorney and we are going through mounds of paperwork. Basically, we moved out last December due to AHMSI holding our payments every other month. When my lawyer contacted them they tried tacking on late fees and service charges on checks they had in their office. Then I got a recent credit report and AHMSI stopped reporting on our credit, all the years of payments I had made all gone! They were refusing that it was their error even after I took the name date and time I spoke to someone and she told me the check numbers they were holding and told me they hadn’t decided how to apply those payments. It has now been a year, since we moved, and the house is sitting empty they haven’t even done anything with it. We were advised by our lawyer to stop making the payments until the matter was resolved, so I can’t live in a home I am not paying for , so we moved. Today this has gone on too long and we are tired of fighting and need a little help, please. Thank you!

  27. ATTN: To those who are being screwed by AHMSI based in Coppell, TX. There is is class-action law suit just filed by a lady name Kay Van Hauen, from Sanger,Tx . Google her name to get the info, maybe we can put a stop to these criminals by joining forces.

  28. thanks too neidermeyer,

    i’ll keep it in me folder for NACA, lawyer, etc, just in case the hamp falls through — since i haven’t met anyone that a hamp went through on time and on point

  29. neidermeyer,
    thanks for posting this article. It is exrtremely helpful to me in my situation – timing couldn’t be better.
    How can ABC, while in BK, after telling a borrower in Federal Court his loan wasn’t being sold, then turn around and assign it outside the court, without the courts permission with a “Linda Green” signature on it?

  30. PAGE 4 of the Reuters article is devastating…

    *********************************************

    For example, LPS arranged through a local employment service to hire about a dozen notaries, sending them to work at a new signing operation set up in the Jacksonville office of American Home Mortgage Servicing, one of LPS’s biggest clients.

    Records from county recorders’ offices show that at least as recently as October, American Home Mortgage Servicing employees signed exactly the same type of questionable mortgages assignments that LPS staffers at DocX and in Minnesota had signed. These included assignments done on behalf of defunct companies like American Brokers Conduit, and after foreclosure actions already had been filed. Reuters obtained a partial list of the names of the LPS-hired notaries. Copies of mortgage assignments available publicly show that these notaries notarized many of these assignments, including ones signed on behalf of defunct companies.

    In interviews, two of the notaries, who asked that they not be identified, said the American Home Mortgage Servicing office also set up a “robosigning” operation for affidavits, another type of document required in foreclosure cases. The employees who signed the affidavits were swearing that they had verified the facts listed in them, such as the specific amounts owed by homeowners.

    But the two notaries, who said they were dismissed after raising questions with supervisors about the practices, said that each morning about a half-dozen American Home Mortgage Servicing employees in about an hour would sign some 200 affidavits received via LPS’s computer system, without reading them, let alone verifying the facts they contained. “In that time, come on, you have not verified figures in 200 documents. That’s impossible,” one of the notaries said.

    Philippa Brown, spokeswoman for American Home Mortgage Servicing, said in an e-mailed statement that “We recently had independent audits conducted on our processes and it was found that at no time was AHMSI (American Home Mortgage Servicing Inc.) ‘robosigning’.” She confirmed that the company had used DocX until December 2009, and then “contracted with LPS” to provide it with notaries “in connection with execution of affidavits and other documents” in American Home Mortgage Servicing’s office. Concerning assignments the company signed for defunct lenders, Brown said American Home Mortgage Servicing “obtains authorization from the previous parties,” but did not explain how.

  31. AHMSI implicated in cintinuing LPS robosigning fraud as an active participant even after DocX forgery investigation was underway… REUTERS story http://www.reuters.com/article/idUSTRE6B547N20101206?pageNumber=1

    “In one instance, it helped set up a massive signing operation at the nearby office of a major client, a spokeswoman for the client, American Home Mortgage Servicing, confirmed. LPS-hired notaries who worked there said in interviews that troves of documents were improperly handled. They said that about 200 affidavits per day were robosigned during the two months the two notaries remained there.”

  32. http://www.change.org/petitions/view/stop_mers_in_its_tracks

    Please pass on this site to as many blogs on as many different loan servicing agencies as you can. Thank you.

  33. FINALLY someone in NV takes action. It’s a start. Not sure if AHMSI is on their list. I sent them an email and asked, though have not heard back.

    Nevada law firm sues MERS, cites fee avoidance and dubious loan authorizations

    http://npri.org/publications/courts-asked-to-foreclose-on-robosigners

  34. wb,
    I understand how you feel.

    If you decide to pursue legal actions your attorney needs to know that the Borrower’s Committe in AHM’s BK court got AHM to agree to turn over any documents with regards to discovery at the borrowers and/or their attorney’s asking.

    Within your file is a “broker sheet” that shows the amount of the YSP – kickback. You will find that the worse the loan terms were the higher the YSP was.

    Hope things work out for you. Maybe since they have that lawsuit agaisnt them filed by the Attorney General of Texas, they may be pressured to do the right things.

  35. The following are addresses for:

    American Home Mortgage Servicing, Inc.
    4875 Belfort Road, Ste #130
    Jacksonville FL 32256-6058

    The above address is where the HAMP mods are supposedly done.

    AHMSI
    1525 S. Beltline Road
    Coppell, TX 75019

    The above address here is their main office. They have been sued by the Texas AG for violation of debt collection laws.

    Pls keep in mind that they have TWO COMPUTER SYSTEMS tracking accounting and phone baloney mortgage loans. Literally, one hand does not know what the other is doing. You get a loan mod in one system and foreclosure in the other. They are bottom feeding sleazeball debt collectors. They have no right to collect the debt, because they don’t have the note. BTW, AHMSI is connected to a hedge fund. http://www.challengingforeclosure.com Sirak@challengingforeclosure.com

  36. anon & MJ,

    do you have the AHMSI attorney address that i can send another letter to?

    i’m just collecting pertinent info and passing to my attorney’s file folder just in case something can help.

    i only want a fair mrtg. i had the great paying job, put the down payment in, but listened to the broker’s promise of such a great loan. though i begged to have the loan redone after signing for about 3 years. knowing full well after seeing the numbers, even with a great paying job, i could not afford the adjustment. now i know why the broker didn’t take my VA loan and why my appraisers were way lower than the broker’s appraiser. frankly i was ignorant of the backend kickbacks the broker was getting.

    needed to vent a bit i guess. this mrtg cloud that hangs over many of us is like chinese water torture, it just drips and wears on you.

  37. anon,

    currently i’m on second month of HAMP with AHMSI. disabled vet on a fixed income. the HAMP thing came after working with NACA. we’ll see in feb if the HAMP is actually honored.

    i’ve spoken to an attorney and i’m more than willing to go to short sell phase if they HAMP isn’t honored — that is, i’m not interested in being strung along month after month of a HAMP phase that they have no intention of honoring. if not short sell, then foreclose the thing.

    i just can’t live like a slave with this hanging over me. who knows, they may actually honor the HAMP. but the stats i see on the internet and from what my attorney says, few folks are actually getting the HAMP — that is they just get strung along.

  38. wb,
    keep on them – tell them you want to know the name of the trust your loan is in.
    If I were you I would send a letter requesting this info to one of their attorneys. Do it certified, as they are famous for the “we never got it”.

    Are you facing foreclosure?

  39. annon,
    My letter says American Home Mortgage Investment Trust c/o AHMSI with the Coppell, Tx address!

  40. wb,

    something does sound fishy. I wonder if they waited to transfer you note while they were in BK without the trustee’s approval.
    Or your loan may have been one of the batch called the Broadhollow/Mellville loans they sold off thru the court.
    The are the owner/servicer, not the true owner. You loan is in a trust and they have to tell you which one and/or the master servicer. They don’t have a choice.

  41. anon,

    i did send them a USC type note. that is when they returned they were the owner/servicer of the trust. just seemed fishy to me.

    i’ll send them another one. not sure what good all this does though. thanks

  42. hi anon,

    it is a American Home Mtg. loan. i don’t have the loan paperwork with me but i know it is with MERS too on the trust deed.

    i was always curious if the investor was a local person(s) or something.

    i’ll look at the paperwork when i get back and follow up then.

    thanks

  43. wb,
    what may be the case is that your loan is in an AHMIT (?) trust. U.S. bank may be the owner trustee and/or trustee of the trust.
    Find out what the acutal name of the trust is. I will be AHMIT followed by 4 numbers – 2 numbers, ex. AHMIT 2007-2.
    Wells Fargo could also be the master servicer.
    Is your loan an American Home Mtg. loan or Option One?

  44. They worte me a letter which said American Home mortgage Trust Inc. is the owner and AHMSI is the servicer!!! But on MERS show that US Bank is the owner!!!

  45. wb, send them a formal letter asking who the owner of your note is under USC Sec. 1641(f)(2). They have to disclose the “true” owner and/or master servicer of the trust you loan is in. They have been called out on the carpet many a time for not complying to this. Keep on them.

  46. i’ve sent a few letters to AHMSI to get the real investor name but all they send back is that AHMSI is the owner.

    is that a truth or a lie?

    what is an address to send a request to see about getting the real owner?

  47. i recently noticed my loan numbers were different on my monthly statements and the original loan papers.

    this is the response they sent me:

    AHMSI recently converted loan-servicing systems and as a result, the account numbers were changed to accommodate the loans in the new loan-servicing system. The account number change does not affect the information stored in the previous loan-servicing system.

    anyone else notice a different loan number? could be nothing but these days i’m so jaded i trust nothing.

  48. To all of you asking questions about AHMSI class action lawsuit, please put a phone umber or email address, so we can all get this done together. They are running a scam. I applied for a modification in May. They have over 200 pages. From every Blog I have rad from other sites coming up on AHMSI, they are the devils advocate, with no intention on really giving out any true number of modifications. I am in Housing. I can tell you, everyone is getting jerked around by this company. If there is really a lawsuit going on, please call me at 205-243-8604 My email is Lscott@nmifunding.com If you know of a class action lawsuit, please send me the info or leave a voice mail. Please, all of you, be careful about companies trying to get money out of you to do a class action suit. They are usually paid out of the suit. Thousands of people have been scammed who gave money for help. I lost $600, and that was minor compared to the thousands some have lost. AHMSI has gotten 1 or 2 Billion pledged to them from TARP money. I have the actual copy of the tarp ledger that was sent to me. Please leave your contact info or post your email. Otherwise, we can not reach each other. We all need to pray for relief on this, because we are dealing with the worst greed ever seen. They don’t care about us and will benefit from all the moeny they get from repeat foreclosures. Please contact and please pray!

  49. I have been in foreclosure limbo for 3 years. I have sent 9 separate packages to get either a short sale or a loan mod with them. Finally, I have sued them in federal court for due process violations, because they did not give me a HAMP loan mod. They have said they want to settle (quickly), and that I had to send in package no. 9 for a loan mod. Still waiting to hear what they have to say. One hand does not know what the other is doing. Totally crooked servicing/debt collector which operates entirely outside the law. Everybody take note: DEBT COLLECTIONS OPERATE OUTSIDE THE LAW!
    http://www.challengingforeclosure.com Sirak@challengingforeclosure.com

  50. Tom,

    Wilbur Ross purchased Option One back in 4/08. He pushed his economic close for AHMS (then called AH Acqusition) on 4/11/08 because he wanted to purchase them both around the same time.
    Duestch bank did not buy AHM. The are trustee for some of their trusts.
    AHM hasn’t been sold – they are still in C-11. Seems it is winding down as they are trying to sell of the last big assest, their bank, AH Bank. 2 sales have fallen thru thus far.
    Wells Fargo, if I am not mistaken, is Master Servicing quite a lot of the Option One loans.

  51. can anyone tell me how mayn cents on the dollar Deutsce Bank paid for American Home Mortagage?

  52. Had Interest only 5/1 ARM and just jumped $700 since I have to make principle, but my income is not what is was 5 yrs ago when I got the loan, AHMSI sent me a notice which states they can do all these different option to reduce my payment one of them is fixed for 2% or extended for 40 Yrs term. If they do that it would be great but thus far NO. Has anyone heard AHMSI extending terms? By the American Home Mortgage Trust Inc. is the investor (note owner). I started my modification request back in July. Its been about 4 months and I haven’t been able to make the new increased payment. Any tips would be appreciated.

  53. @HAMP

    is there a website by people for people who are on HAMP or trying to get on?

    i’m wanting get some more feedback of how it is going for them or to see if is another carnival scam to get as much money as possible with whatever means.

    anyone know some sites let me know please. thanks

  54. @Heather, on October 20, 2010 at 3:39 pm :

    were you able to qualify and start the three trail payments?

    i’m wanting to know what the loan/mod was of even if they went through with it for you…or keep stringing you about.

    i started the 3 months. with a little hope they’ll actually do what they say they’ll do and modify it at an affordable price for 30 years. otherwise, i jump to short sale. i can’t chase a dangling rabbit for years.

  55. let us do like the french.let us hit the streets and start marching on.Americans are too passive.Your home is yr foundation.What is left,if it’s taken away.Hope wilbur ross slip and break his neck into an induced coma.

  56. aa d,
    they got nailed for not complying to TILA 1641(f)(2), where they have to disclose the true owner of the note and/or master servicer of the trust it is securitized in. If you send a certified letter requesting the info under this code to a V.P. in the servicing unit I just bet they will comply. I sent mine to Friedman, who of course tried to ignore me. They did comply in my case after 7 months of me pounding them for the info.

    They are a nightmare. If you find the trust your loan is in you will find provisions for loan modifications. You will also find the amount they have modified in the trust. In my trust of over 3000 loans they had modified only 3 as of 1/10.

    It is the master servicer of the trust that decides on a loan mod or not. And in many many cases that party is Wells Fargo.
    Unfortunately one can not go directly to the master servicer for a loan mod because of the contract they have with AHMSI for servicing. AHMSI is actually a sub servicer under the master servicer.

    I would really like to get to the bottom of what they are doing. And why they are so adamant with not modifying loans. Something hinky over there.

  57. i have tried to modify with these guys many times as well and was always told NO. we have out grown our house and we need to move out. I have an ARM that they refuse to modify. also, they never tell you who owns the loan, always: investors.
    How to get rid of these crooks? should someone just walk out? if they do not accept short sales, do not modify? what can they do? keep taking your money? what are the true consequences of a foreclosure or walking out besides a bad up credit? Did anyone of you have AHMSI3 come after him/her? any creditors call that did not end? sometimes, i just want to leave the house and be done.

  58. I have also been a victim of .AHMSI They sent a 90 day HAMP trial modification document completely blank except for my name and account number.After a year of requesting the payment amounts and terms so I could participate and eventually a foreclosure notice/ I brought the whole issue to the attorney general. It has been the most challenging/ life altering experience for me as far as having trust in a business relationship and remaining respectful while trying to sift through the smokey haze they have created.

  59. they sent a HAMP doc recently saying i qualified for HAMP. so i make 3 months payments, then what?

    will it be more of the same redundant paperwork over and over again? that is, do they really do the loan mod after 3 months or is this just a string-along?

    they didn’t acknowledge the loan audit that showed many fed law issues. should i not be surprized?

    really HATE to hear they won’t entertain a short-sell. that is my next option if the HAMP doesn’t work out.

    so one can’t even do a short sell as it is still up to the bank?

    many experts are predicting this mortgage issue is going to get worse. the commercial foreclosures are coming next along with the continuing house mortgage issue..

    anyone else have experience with them and HAMP? did it go well or bad?

    a nightmare on maple street to be sure!

  60. Please if there is a class action suit against AHMSI
    email me and tell me where to sign. I also tried to do the loan mod. & 4 times (after having to call them to see what was going on) I was told I needed to resend all the documents again. I’d like to stop paying these crooks, but I’m afraid they would foreclose on me. Has anyone stopped their mortgage payments? If there is a suit against them do we still pay this company? Thanks for any help!

    Linda from Kentucky

  61. Same old story. I called Option One when my husband was laid off, asking for help to modify the loan. They told me the only way they could help me was if I stopped paying the Note. No one would talk to me. We fell into a bad situation and wanted to short sell the home after that. We had FIVE bona fide offers for nearly all of the principal balance. They refused to entertain any of them and sent the house to foreclosure.
    These guys are BADDDD! The economy is in bad shape because of them not consumers who are not willing to pay mortgages.

  62. http://www.reuters.com/article/idUSTRE6975Q820101008

    see above linke to article:

    AHMSI isn’t going to help. they own the cards and numbers. and the laws are on their side.

    without the US gov intervening or a legal precedent set in motion for the homeowner, i see little help for us.

    these guys are in the biz to make that profit, rightfully so, yet we got caught in the crossfire with few exits, of all that greed (gov, banks, lenders, etc).

    all we did was buy a house and it has turned into the worst nightmare of our lives…like many people.

  63. >>Will gladly get involved in a class action suit against ahmsi. Just email me to let me know where to sign up…

    i second this motion. just email me.

    i’m a disabled vet that begged the loan officer for 3 years to modify the loan saying i couldn’t afford the ARM when it adjusts. he would never accept my VA loan qualification. i know now why — the VA would never allowed this type of loan.

    i’ve been unemployed for 3 years now, SSD + VA disability. i may not qual for the HAMP and the 31% income criteria they stipulate. so much for that gov stimulus to help out the citizens.

    enough of my story, just so me where to sign for the class action lawsuit. hey BoA halted foreclosures, i hope DC is now listening and other banks(AH
    MSI) listen too.

  64. David,

    American Home Mtg. Servicing filed BK in Delaware. Wilbur Ross became the Debtor in Possession and bought the servicing unit.
    He did the economic close around 12/07 – then final close 4/11/08, and pushed up to this date because he was in the process of purchasing Option One.

  65. I have an “assignment of mortgage” from Option One to AHMS dated 4-3-2009. I understand that AHMS filed bankruptcy in 8-6-2007, and was liquidated with some assets (probably including its name) purchased by Wilbur Ross & Co. and some assets were purchased by Sandhills Mortgage. If the new AHMS is a different corporation, even though it has the same name as the liquidated AHMS, isn’t the “assignment of mortgage” of 4-3-2009, a fraud? I would think that the bankruptcy trustee who liquidated AHMS would have assigned my mortgage to either Wilbur Ross & Co, or to a new entity called AHMS owned by Wilbur Ross & Co, but my mortgage was not assigned to either one of those entities. By the date of the ‘assignment’, the old AHMS was dead and buried. Does anyone know where AHMS filed bankruptcy?

  66. My husband and I have just begun the process of loan modification with AHMSI and in a short time its been a ride. We faxed all of our documents last week. We were told that in 12 days we would know who our negotiator is. We called tonight for the helluva it and received a different answer. We won’t know “anything” for 30 days. I have the contact number and fax for Jeanne Drake in the Retention Department in DALLAS NOT INDIA. I will fax out our packet to her tomorrow. We’re hearing nightmare stories out the kazoo with this outfit. Apparently, the Attorney General in Texas is out to finally get them. Any suggestions?

  67. I have been in foreclosure for 2 years and 10 months with AHMSI. My attorney and I have formed the above-mentioned website to help people who are in or heading for foreclosure or are having problems with their servicer (AHMSI/Option One). We are working on Quiet Title actions for a minimal cost in nonjudicial states and a Motion to Dismiss in judicial states. Pls visit our website. No obligation if you want to pick my brain. Very, very tired of AHMSI and their stonewalling and incompetence and larcenous ways.

  68. I started crying when I read the above e-mails, I HAD THE SAME EXACT THINGS DONE TO ME over the phone and now I am HOMELESS!!! why cant this be stopped??? Please tell me the best lawyer to contact in texas, should I file a suit with the attorney general? Help!!!

  69. i wrote them a Truth in Lending Act note and they returned:

    “The owner and note holder for the above mentioned loan is American Home Mortgage Investment Trust 2006-3. American Home Mortgage Servicing, Inc (AHMSI) is the mortgage servicer on this mortgage loan and collects payments on behalf of the owner.

    so is that really true? or is that a way to hide the real owner(s)?

  70. AHMSI holds my note too. they say they do and not an investor when i requested that info.

    i’ve requested a loan mod to stay in my home but no matter how many times i send in requested documents they call saying more of the same docs are needed.

    if there is a class action suit and/or a “on the level” attorney here in Vegas dealing with AHMSI please let me know

    sn3pcxexes@gmail.com

  71. I am trying to find out if Option One Mortgage Corporation exists in any capacity. I have been in litigation with OOMC for the past 3 years pertaining to a foreclosed property that I bought from them. My lawsuit doesn’t have anything to do with a mortgage with them.

    I’ve gotten wind that OOMC is about to file BK but I’m not convinced that any portion of them still exists. I’m not sure what recourse I have with AHMSI as they supposedly only bought the “servicing” division of OOMC. I need to know if OOMC still exists and where. Can anybody help?
    Thanks.

  72. Rob,
    Wells Fargo acts in the capacity of trustee, master servicer and/or indenture trustee over trillions in these trusts.
    One of the roles of the master servicer is to decide if a loan can be modified. All the servicing unit, sub servicer, does is submit the paperwork to them.
    Based on this one party can blame the other for not modifying loans. And the master servicer can hide behind this because the vast majority of the public doesn’t know how these trusts are structured. Neither to the investors for that matter.
    Within the trusts their are provisions for the allowance of a certain number of loans that can be modified. I have looked at several current reportings to the SEC of certain trusts and they aren’t even coming close.

    I had to laugh when Mary Coffin of WF came out years ago stating that “she can count on her fingers how many loans cannot be modified that are in these trusts”. I wrote to her and asked her if she had thousands of fingers – never heard back.

  73. http://www.myfoxdfw.com/dpp/news/investigative/08162010Mortgage-Servicing-Companies-Unregulated-in-Texas-

    This article/interview came out today – it is Fox 4 news exposing some of what AHMSI does to people – word is getting out.

  74. Daniela Mars you wouldn’t know where i could get the amended complaint on this case? Thanks for the info it is an interesting read and shines a light into securitization issues.

  75. people fighting AHMS or option one – be careful because they are fabricating documents.

    Check this:

    http://www.deb.uscourts.gov/Opinions/2008/css062708_07-51738.pdf

  76. I’m trying to get information from AHSMI. My original lender was AB Conduit which is gone. I have sent a QWR to AHMSI and can’t seem to get an answer as to who the investor is even though it is a right under RESPA to receive such information. I have read that Wells Fargo is a trustee and Option One (have made payments to Option One) is in there also so I would like to know what bundle of securities my mortgage is in. Can anyone help me with this? I can be reached at robert@moi-now.com. Thanks in advanced.

  77. The key is to deal only in writing with AHMSI. It’s amazing how bad they look when you have a stack of their papers in front of a jury or judge!!!!!!!!!!!!

  78. I am a realtor with loans from AHMSI I am trying to get my own loan modification this is the worst company i have ever seen. I call one day and they say I owe 12K the next day its 13K in one day it goes up 1 thousand dollars due to they say attorney fee. I would like to be party to any class action suit. They now have me in forclosure they said my payment would go up not down.

  79. American Home Mortgage Servicing Inc, the loan servicer, is or was doing business as American Brokers Conduit, the loan originator. Twice I sent letter requesting originating documents and financing demonstration. The 1st letter being a Qualified Written Request came back stating under the rules of RESPA we are the loan servicer if you feel fraud was involved take the problem up with the loan originator. ? The second letter is through the Department of Corporations. Still waiting for a response. I’m Foreclosed but still fighting and looking for lawyer in San Diego or Riverside area Calif. Please no mods, rescue, or audits; I’ve been through all that.

  80. New HAUP (Home Affordable Unemployment Program) is a new program effective August 1st 2010 for unemployed borrows that are serviced through AHMSI. For those that have not yet been approved by HAMP. yoy may want to reseach and go through this program 1st if you qualify.

  81. Option One / H&R Block was the lender of an 80/20 ARM for a condo that I purchased in 2005. The problem was that the approval was based on my income which was suffiecient to handle the loans before the primary (9.5%) loan was scheduled to reset in 3 years. The second loan was financed at a flat 12%. My credit really wasn’t that bad. In 2007 just before the reset, I became unemployed. AHMSI did work a loan modification. I paid AHMSI a fee of $500.00 and another fee of $2500 to a 3rd party company out of CA that was able to expediate the process due to an inside connection with AHMSI. I was able to save about $850 monthly. Since then I am unemployed twice and exhausted all avaialbe funds. I am now collecting unemployment and social security. I am sending my papers today to apply for HAMP. Hopefully, I will get approved. I am also filing a complaint with the Attorney General in the state of GA.

  82. PLEASE HELP ME I AM SO DEPRESSED I HAVE SOLD EVERYTHING OF VALUE TO GIVE TO THIS AHMSI ,THEY KEEP ADDING THOUSANDS OF DOLLARS IN THE PAST 2 MONTHS OVERN 8,000 WAS BLACKMAILED IF WE DONT SIGN THE PAPERS THEY GAVE US THEY WERE GOING TO FORCLOSE,
    I HAVE A LIST OF ALL THE TORTURE THET HAVE PUT US THROUGH
    KIMBERLY Bradford P.S. THEY LOST OUR PAYMENTS & THEN MADE US PAY FOR EVERYTHING WE HAVE PROOF ANY COPIES

  83. We are going through a mod which is so screwed up it is crazy. We have been in our house for 45 years but have refinanced a few times and made the mistake of getting involved with option one. Will gladly get involved in a class action suit against ahmsi. Just email me to let me know where to sign up. bill1229@wwmgmt.org

  84. Background

    - I lost my job in January 2009
    - In May 2009, I received foreclosure sale notice
    - I applied for a loan modification (1)
    - In the meantime, having no job, the loan mod was not tracked carefully by me
    - In December 2009, a foreclosure sale was postponed
    - I continued looking for work in land development, my 25 year career, but the market was pretty dead
    - In March 2010, I got a new job
    - In March 2010, I found out that my previous loan mod app was never received, allegedly
    - In March 2010, I began the process of a new loan mod under HAMP
    - Due to the time lag req’d to show proof of income, I delayed the application, although I have a valid hardship
    - The office I worked in also went through a “restructuring” in office management, and I could not get the records for pay I needed until May 2010
    - I informed the mortgage company that the delay was not intentional
    - In April I was preparing to send in loan mod app (2) HAMP
    - The mortgage company told me verbally, the foreclosure date was June 21, 2010
    - AHMSI, the mortgage company foreclosed me May 7, 6 weeks sooner than they said verbally

    When I called asking a few questions:
    Why didn’t you produce the note?
    Why did you tell me one thing, and slip in another?

    AHMSI informed me, my loan mod app had been denied. I wondered how, as I never submitted information
    I asked for an audit, and AHMSI informed me they were allegedly no longer the loan servicer, contact the attorney for the trustee
    I did this only to be referred back to AHMSI.
    I asked AHMSI Which loan mod was denied? One was claimed to be lost or not received, the other was never submitted. So what’s up?

    At this point I asked for a supervisor, and was transferred to a line which rang endlessly, with no message option; stonewalled.

    1.AHMSI Loan mod denied: I found this to be strange, as I had not even applied yet, and was in the process, and after this much time hoped they would extend me the mercy of one more month, since I have a good job now. If it referred to the previous one, they told me they never received it in March 2010, now it’s denied? When asking the story, no one at AHMSI knows or can be contacted.

    2. If this was referring to loan mod 1, they told me previously it was never received
    I’m researching if there is any illegal activity here, or if there is the possibility of rescinding the foreclosure sale, or any information on how to force AHMSI to give me information regarding the home’s actual owner, as they now stonewall me and refer me to the trustee and bank. When I called the trustee and Deutsche bank, they tell me AHMSI is power of attorney, and to contact them, which has turned into an endless loop.

    I’m researching any information I can find regarding this process. Although I am prepared to leave, I am not giving up now researching what is available. I also wonder why the servicer can lie, refuse information I request in the process, lose and/or deny loan modifications and tell me nothing as to what the reasons why or which loan mod they refer to, continue to imply they are not a legal source of information, stonewall my requests for further information.

    Thank You,

    Mark with geomterixxx.webs.com

    520-971-2234
    techmeaux@gmail.com

    AHMSI’s unrelenting stonewalling techniques including:
    1. Multiple switchboard operators with conflicting information.
    2. Supervisor call escalations to endlessly ringing extensions, with no messaging
    3. Denial of having power of attorney, or servicing responsibilities any longer.
    4. Referrals to trustee which are re-referred back to AHMSI.
    5. Referrals to bank which are re-referred to AHMSI.
    6. Rude and confrontational staff on switchboard in general, who barely know their own data system in many cases, and who purposely route me to dead ends, I assume for further stalling of my audit requests and general information.

    *This is not a complaint against the bank, or trustee, just the bizarre tactics of AHMSI, Inc.

    Any information on litigation or questionable practices regarding American Home Mortgage Service Inc. will be appreciated and reserached.

  85. This is the worst company ever ran by a greedy dog that needs to be exposed like ENRON!! I live in LA, Ca. We have tried 2 save our house numerous times, only to pay out soo much money that we could’ve bought a house in Louisianna 2 times over. We went from Option One to AHMSI with a first and a second. Went through a loan modification with AHMSI assuming that the first and the second were covered under the modification…Uhhh NOT!! Received a letter stating the 2nd was being sold…WTF!!! Now they want more letters, more money and more consumer begging. Are they part of the BBB??? Is their anyone that can suit?? They make it hard to suit because all of the money it would take to hire a lawyer is being used to salvage the roofs over our heads..

  86. We need help with AMHSI. We have been trying to work out a loan mod program with them since Citi sold our loan to them and they bumped our payments up $500 a month. Got a foreclosure letter today. Need help ASAP.

    Thanks

  87. Anyone with information pertaining to filing a lawsuit against AHMSI, please contact me as I would like to be a part of this. Major problems with this company.

  88. note i had a mortgage with american home mortgage through american brokers conduit, however they are in chapter 11 and my note was turned over to ahmsi in oct. of 2008, they changed my note from $550.050.00 to $843,000 my monthly payment went from $2,005.70 to $4749.00 my escrow went from$461 per month to $1,125.00 this company has refused all information since 11 of 2008 who hold, my note, what is my pay off, who is the trustee on deed of trust, what is the leagal description on this note, and on the title insurance report, now this company wants to do a loan modification and they want to charge me $74,000 in bogas fees, and now they have my credit files all messed up, they show my note as $624,000 to $848,000 and payments from $1,747,29 to $4,749.09 now they said that if i did not sign this loan modification with the bogas figrures they would file a notice of foreclosure, I need help and would love to be a party to a class action law suit (417) 833-3358

  89. AHM denied my loan modification. They stated that the investor did not approve the modification. Now I am 12000 behind. Please any help there as what to do next.

  90. Anyone who has filed or is about to file a CLASS ACTION LAW SUITE against AMERICAN HOME MORTGAGE SERVICING please contact me.

    Thank you,

  91. NO..NO.. NO.. Wrong !!!
    I am in a law suit with these folks. Option One did not change its name. Sand Canyon has usurped the name of a dead corporation-Option one. I have tons of records as support for my accusation.

    Sand Canyon Corporation merged with Option one mortgage capital corporation not Option one mortgage corporation the oprerative word being “capital.” two different companies. they have apparently got everyone fooled.

  92. Wells Fargo master servicer fir escuritization trust xxxxxx for servicer indymac now one west who are being protected by the FDIC do we see a oattufn of sorts here. Wells Fargo are in there again and again

  93. Those facing similar issues in Northern Virginia / DC are encouraged to contact Bankruptcy and Litigation attorney Gregory Bryl through bryllaw.com

  94. Option One Mortgage Corporation merely changed
    its name to Sand Canyon Corporation June 4, 2008.
    It is still registered as a California corporation.
    American Home Mortgage Servicing is a Delaware
    corporation located in Irving, Texas which merely
    services the loans. Wells Fargo is the Trustee of the
    pool of Option One Mortgage Loan Trust etc.

  95. Wells Fargo is typically named as the Trustee (trustee for the security not to be confused with the trustee for a Deed of Trust) and is to whom AHMSI submits payments or partial payments to….from what I have determined.

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