Hampton Bay Fans: A Harrowing Home Depot Hassle

Earlier, I wrote about what a hassle it has been to try and take the glass globe off of my Home Depot Hampton Bay Sovana model fan.

A quick update:  Since I could not get the glass cover off (similar to lots and lots of other Home Depot customers who also made the unfortunate decision to buy a Hampton Bay fan), I will now be forced to break the glass in order to replace the light bulb.

I tried calling Hampton Bay last week, was told by a customer service person that they don’t have the part, and the manufacturer would get in touch with me.

Today, I received an email from said Home Depot/Hampton Bay customer care representative, telling me to call a woman named Belinda.  I tried calling Belinda at the number provided, and the operator answered with the name of a random company that was neither Home Depot nor Hampton Bay.

Belinda apparently does work for Home Depot (not sure in what capacity) and was able to help me a little bit by giving me the model number and explaining that the information I received last week was inaccurate.

So, I’m now paying Home Depot $27 for a replacement globe because I’ll have to crack open the glass to get this one off.

Home Depot- this is not a great way to treat your customers.  😦

Keep Your Home California Program is Over

This blog featured a number of posts about the Keep Your Home California program and how its various programs could help homeowners in California who were possibly going to lose their homes.

In case you missed the announcement in August, 2018, the program is over and is no longer accepting applications. (More here)

More than 82,000 Californians benefited from this program.  You can learn more by reading The Economic Impact of Keep Your Home California: A Statewide and Regional Analysis.

Also, quarterly reports about the program are available on its website under the reports and statistics section.

If you’re a homeowner who used the program and have questions, there are still representatives available to answer your questions.

Wells Fargo in the News For Overdraft and Foreclosure Lawsuits and Settlements

Wells Fargo

It’s been a busy couple of weeks for Wells Fargo Bank!

On April 4, the LA Times reported that the US Supreme Court declined to hear Wells Fargo’s appeal of a class action lawsuit against the bank that it lost.  After losing this lawsuit, Wells Fargo was ordered to pay $203 million related to overdraft fees it had charged Californians from 2004-2008.  Read more here: Supreme Court upholds verdict against Wells Fargo on overdraft fees in California

Then, on April 8, Courthouse News Service broke the news that the City of Oakland’s lawsuit against the bank can proceed:  Wells Fargo Must Face Oakland’s Lending Suit

And, last Friday, April 8, Wells Fargo agreed to pay the federal government $1.2 billion related to FHA mortgages the bank had underwritten (rather poorly, it turned out).  The irony is especially rich on the heels of a recent Paul Krugman article which suggested that main street banks hadn’t really played a role in the mortgage meltdown.  Or, the Op-Ed from GE’s CEO, lecturing Bernie Sanders about “creating jobs.”  Just don’t remind GE’s CEO about GE’s role in creating the mortgage meltdown with its lender, WMC Mortgage Corp.

David Dayen on CitiGroup’s Late Independent Foreclosure Review Payments

David Dayen has a great new piece (Weak Justice for Wall Street: How a Twisted Double Standard Saved Citigroup Millions) on CitiGroup failing to pay $20 million under the Independent Foreclosure Review:

Did Citigroup have to pay interest or make a late fee on two years’ of missed payments? No. Was its credit rating affected? No. Did it have a lien placed on its headquarters or bank branches, as would many debtors who failed to pay? No. Did the OCC call them in the middle of the night and threaten to garnish their tax refund? No. Were they in any way treated the way “deadbeat borrowers” are in this country? Nah. In fact, they got to use that $20 million for two years, and profit from it, without punishment.

Read the whole article here: Weak Justice for Wall Street: How a Twisted Double Standard Saved Citigroup Millions

New Announcement About Uncashed Checks for Independent Foreclosure Review

Just the messenger folks, contact Rust Consulting for more information:

Joint Press Release

Board of Governors of the Federal Reserve System
Office of the Comptroller of the Currency
For release at 1:00 p.m. EDT
February 18, 2015

Agencies Announce Reissuance of Checks Related to the Independent Foreclosure Review

Replacement checks are being mailed this week to borrowers eligible for payment under the Independent Foreclosure Review Payment Agreements and who have not yetcashed or deposited their check, the Federal Reserve Board and the Office of the Comptroller of the Currency announced Wednesday. The checks are being sent by the paying agent, Rust Consulting, Inc., to replaceuncashed checks that have now expired.Agreements reached in January 2013 between federal bank regulatory agencies and 13 mortgage servicers provided $3.6 billion in cash payments to borrowers whose homes were in any stage of the foreclosure process in 2009 or 2010. The mortgages were serviced by one of the following 13 companies, their affiliates, or subsidiaries: Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo. The payments ranged from several hundred dollars to $125,000 plus lost equity.

Beginning in April 2013, payments were mailed to all of the nearly 4.2 million in-scope borrowers of these servicers. As of January 2015, more than 3.4 million of these checks, totaling more than $3.1 billion, had been cashed or deposited. This represents approximately 87 percent of the total amount of funds these servicers were required to pay.

Nearly 600,000 checks mailed to borrowers of these 13 servicers remain outstanding, and have now expired. As part of the agencies’ ongoing efforts to reach these borrowers, the paying agent was directed to conduct additional searches of updated addresses. The current mailing represents the third attempt directed by the agencies to provide checks to in-scope borrowers. Borrowers who have already cashed or deposited their checks will not receive additional payment. Borrowers must cash or deposit the replacement checks within 90 days of the issue date or the check will be void.

After January 2013, similar agreements were reached with federal bank regulatory agencies that provided cash payments to borrowers whose homes were in any stage of the foreclosure process in 2009 or 2010 and whose mortgages were serviced by GMAC Mortgage and EverBank. As of year-end 2014, payments were mailed to all of the in-scope borrowers of these two servicers. Replacement checks for borrowers of GMAC Mortgage who have not yet cashed or deposited their checks are expected to be mailed by Rust Consulting, Inc., by May 2015.

Borrowers whose mortgages were serviced by one of the 13 servicers that entered into agreements in January 2013 or by GMAC Mortgage should call Rust Consulting, Inc. with questions at 888-952-9105, Monday through Friday between 9:00 a.m. and 8:00 p.m. EST or Saturday between 11:00 a.m. and 4:00 p.m. EST. Borrowers who had a mortgage serviced by EverBank should contact the paying agent for that agreement, Epiq Systems, with questions at 877-819-9754.

Are you a former IndyMac, OneWest, or Financial Freedom customer living in Los Angeles?

Marketplace: IndyMac backdating helped downfall

Marketplace: IndyMac backdating helped downfall

PUBLIC HEARING IS IMPORTANT OPPORTUNITY FOR CUSTOMERS TO WEIGH IN WITH BANK REGULATORS 

If your mortgage was originated by Financial Freedom or IndyMac, or if your mortgage was serviced by OneWest Bank, then we have an important announcement to share with you.

Earlier this month, the Federal Reserve and the Office of the Comptroller of the Currency announced they would hold a public hearing on the proposed merger of OneWest with CIT Group.

If you had an experience with OneWest Bank that was less stellar, you should consider sharing your experience with the Federal Reserve and OCC.  As part of the public hearing announcement, the regulators also announced they were extending the public comment period on the merger until February 26, 2015.

Better yet, if you’re in Los Angeles, consider attending the public hearing.  If you’re not speaking, you can just show up.  But, if you’d like to speak, you need to tell the regulators and information on how to do that is listed below.

If you are in Los Angeles and would like to weigh in on the merger, there is a public hearing being held on February 26th.  All persons wishing to testify at the public meeting must submit a written request no later than 5:00 p.m. PST on February 20, 2015. A request to testify may be sent by mail to: Scott Turner, Vice President, Community Engagement, Federal Reserve Bank of San Francisco, 101 Market Street, San Francisco, California 94105; by e-mail to: sf.community.development.info@sf.frb.org; or by facsimile: 415-977-4011.

If you can’t make the hearing, but want to share your views, you can send an email to: comments.applications@ny.frb.org and WE.Licensing@occ.treas.gov.  If you have personal experiences with OneWest Bank, CIT Group, or Financial Freedom, it is probably a good idea to mention that in your email.

If you’d like to learn more about this proposed merger, you may want to go to the California Reinvestment Coalition’s website, they have an entire page dedicated to this merger and it outlines the more troubling aspects.  Proposed Merger of CIT Group and OneWest Bank Resource Page. 

New Presentation Explains Why Organizations and People Across the US Oppose the OneWest and CIT Group Merger

Did you have a mortgage from IndyMac Bank, OneWest Bank, or a reverse mortgage from Financial Freedom? Federal bank regulators are holding a public hearing about a proposed merger of CIT Group and OneWest Bank. If you’ve had negative experiences with OneWest or Financial Freedom, you may want to take a look at this blog post and consider emailing the Federal Reserve and OCC so they have an accurate picture of OneWest’s servicing practices.