thanks for the info....after researching a bunch of their rules, regulations, and handbooks...I think I might have something that might help....this is the email I wrote to the manager handling the case in the Wells Fargo executive offices for the Home Equity division.....
FROM PAGE 59 of The Office of the Comptroller of Currency's website with regards to the Truth in Lending Handbook....
Loan Servicing Practices
Companies that service mortgage loans are prohibited from engaging in
certain practices, such as pyramiding late fees. In addition, servicers are
required to credit consumers' loan payments as of the date of receipt and
provide a payoff statement within a reasonable time of request.
Specifically, for a consumer credit transaction secured by a consumer’s
principal dwelling, a loan servicer cannot:
Fail, with limited exception, to credit a payment to the consumer’s loan
account as of the date of receipt.
Impose on the consumer any late fee or delinquency charge in connection
with a timely payment made in full, when the only delinquency is
attributable to late fees or delinquency charges assessed on an earlier
payment.
Fail to provide, within a reasonable time after receiving a request from the
consumer or person acting on behalf of the consumer, an accurate
Should this go to court I will seek criminal charges against you and anyone else that specifically chooses to violate the Truth in Lending laws set forward from the Office of Comptroller of Currency...from page 50 of the Office of Comptroller of Currency's Truth in Lending handbook....
Criminal Liability [TILA Section 112]
Anyone who willingly and knowingly fails to comply with any requirement of
the TILA will be fined not more than $5,000 or imprisoned for not more than
one year, or both.
Starting Score: EQ 575 EX 595 TR 524I will let you know their response when I get it...
The question I have regarding this provision is under what "limited" circumstances are they excused from this provision? It states there is an exception but doesnt detailed what limited exceptions apply.
@Duncanrr wrote:The question I have regarding this provision is under what "limited" circumstances are they excused from this provision? It states there is an exception but doesnt detailed what limited exceptions apply.
Yeah, I was kinda wondering that too...My thought's on it are for some 'special' or 'unseen' circmstance....I would bet it would be fairly easy to argue that 'limited' would not include their normal procedure of posting the next day....that wouldn't sound very 'limited' to me....