Mortgage loan servicers document their communication with consumers in several ways:
- They record outgoing and incoming phone calls.
- They type notes into a communications log when they place or receive a call; send or receive written correspondence; or record an event such as when a loan becomes delinquent, is placed in foreclosure, or the consumer files for bankruptcy.
- They calendar events such as when they must respond to a request for information, send out an escrow account disclosure statement, record an assignment of mortgage, or institute a foreclosure proceeding.
In other words, the servicer tracks all communication with the consumer, authorized third parties, their legal representatives, etc. in their electronic Servicing File. This puts the servicer in a superior position if and when a dispute arises because they have preserved their evidence.
We recommend that you track all written and telephonic communication with your servicer by using our interactive communication logs which you should keep in your Active File.
- Proof of Payment Log
- Call Log
- Correspondence Log
(All Interactive Communications Logs for $25.00)
Remember, Your Mortgage File is Evidence at Trial!