I have the same issue that all the others. Payments are "posted" upon receipt they say, but do not apply to your statement until they clear the bank. This has taken up to 10 days! With today's electronic banking, funds are transfered instantly! They must use a very antiquated system. Wish I could move my mortgage.

I sent this to the Attorney General:

My mortgage loan was recently bought from Countrywide Home Loans by America’s Servicing Company. This coincidentally happened in the same month in which I sold my home and closed on it. There was some hassle with transferring my January payment over, but the biggest complaint is in regards to a prepayment penalty showing up on my payoff statement. I live in the state of MN where these penalties do not apply, so I contacted them, let them know that this needed to be removed, and explained why. This request was DENIED even after the requested purchase information & HUD was given to them (I have the denial letter from them). There were several long frustrating phone calls I went through to fight for this before, and well after my closing. I ended up having to fax them the portion of the law before finally waiving this fee.

If I didn’t know about this, I would have most definitely been erroneously charged this percentage for the prepayment penalty. Not only did I point this out to them that this was a mistake, but I was blatantly denied the request to waive this fee.
After faxing the statute of the MN law to their legal department that states I should not be charged, I finally talked with a representative this morning who told me I would indeed be refunded this money and the waiver was granted.

All requested information was faxed with of the appropriate documentation stating that this was a purchase in Minnesota and included my HUD.
They had told me that this original request to waive the penalty was reviewed and denied by their legal department.
I, the customer, had to fax the portion of the law to ACS after the 1st denial to show them that they cannot charge me for this.
My title company mentioned that this was the most difficult company they have ever worked with and they were very uncooperative. I had given my permission to ASC for someone at the title company to speak on my behalf and ASC would not speak with her about my loan.
It was always very difficult to get a straight answer and had to re-explain my story every time I called, and there were even cases where the representative would not tell me their name and/or would ignore my questions. One representative told me he would call me back, which never happened (and he was EXTREMELY rude to me).

Despite the fact ASC has told me I will be refunded shortly, I want to bring this to your attention. I think it’s very safe to assume that others have been inaccurately charged this and will most likely continue to get charged. I feel this is a significant amount of money (2% of the total loan amount I believe), and I feel this is unjust.

Our mortgage, unfortunately, was sold to America's Servicing Company in September of 2006. They have to be one of the worst companies we have ever dealt with. Our payment was due on January 26, 2007- Payment was sent out from our bank on 01/22/2007 and was to be delivered by 01/25/2007. AMC claims that they did not receive the payment until February 2, 2007. After speaking with several rude customer service representatives. I was told several different stories each one contradicting the other. On February 5, 2007 I was told that they did have the payment and it was received on January 26, 2007. Another (rude) representative stated that it was not received until February 2. That it takes 15 days for a payment to reach them through the mail. That I need to send the payment by mail at least 15 days prior to the due date. However, if the payment is received within 2 days they will still cash the payment because they do not recognize post dated checks. I was also informed that a machine opens the payments. However, they know for a fact that the payment was not received until the machine opened it. Which was February 2, 2007. Even though I have documentation from my bank varifying that the payment was sent out well before the due date. Basically, my bank and myself are liars. In the mean time they have charged me additional fees, interest, etc. They also have sent my payment back to me refusing to accept it because it was not received on the due date of January 26, 2007. Today February 8, 2007 I received a letter of acceleration which was dated February 5, 2007. (amazing it only took 3 days by mail--my payment must have been sent via Pony Express). While trying to clear this matter I have been hung up on, shouted at, and treated with absolute disregard. It is such a shame that when your mortgage is sold, we the people paying the money and interest have NO say in the company in which it is bought by.

This company bought my loan from GMAC (to whom I was never late). GMAC doesn't charge for pay by Internet, ASC does. GMAC's website always works, ASC's is often down. GMAC never called unless there was a real problem. ASC begins harassing phone calls on the due date and the payment isn't late for 15 days after the due date of the 1st. When I call, there is always an aire of incompetence. I am going to refinance as soon as I can to get away from them. When I do an Internet search on them, I see several complaint sites. With this level of complaint, one wonders if there may be reason for class action. This is the first company I've complained about, stay away from them if you can.

I bought a house in June 2006. My first payment was due July 1, 2007. Since that time, the loan was sold to GMAC and one month later, it was sold to ASC. All of my payments are current however, ASC claims I am behind one payment. Since October, I have called and sent ASC copies of my cancelled checks verifying my payments- no correction was made. I talked to supervisors, managers, reps begging them to correct my account. I have the names of the people I talked to and they agreed I was right. I asked them if their error would affect my credit and they indicated "no" - in fact, I had to beg to get a letter from them to get this in writing. According to ASC policy, they do not send out any letters involving their accounts - so I was happy about receiving my letter. This week, I applied to refi and found out ASC reported this to the credit bureaus and my score dropped dramatically - I am so frustrated with them. My main account is held at Wells Fargo and I am shocked to find a subsidiary of theirs is allowed to get away with these tactics that ruin people's credit. Let's stop this rip-off.