Don't belive anything they say... call the sec, occ, state att. general before it's to late a business of lies that makes money. wonder why no e-mail or fax #

MY family's story.

I have had two separate loans on two separate properties with Greenpiont Mortgage, Countrywide, Bank of America for 4 years. In May of 2010 I received a Welcome Statement from a new lender, creditor IBM-LPBS that they had taken over processing of my two separate loans directing me to no longer send any payments to Bank of America regarding my two loans.

Two loans means twice the pain.

Bank of America/IBM-LPBS sold my loans and misappropriated my escrow reimbursement payments of $1, 843.42 on Loan A and $1, 862.62 on Loan B on 3/28/10.They had removed my the total amounts paid on loans A and B. They moved my loan off in a negative fashion when it never had been. Later Bank of America reappeared my payments to principal instead of escrow reimbursement.

The new company, IBM/LPBS, a loan processor/collecter and is not a bank. IBM/LPBS is a company owned by Jay Merrimont in Oregon but registered in Delaware. LPBS is servicing the loan holding the loan is really Bank of America. Fanny Mae holds the note.

In April 2010 I received a Welcome statement with no payment statement at all. I called to complain and was told that I would receive my June Statement. NO JUNE STATEMENT EVER ARRIVED.I used my prior Bank of America to pay both loans A and B as usual for June 2010.

My very first statement from IBM/LPBS was received from them on 7/20/10 and dated 7/16/10, already by then I was two months late, LPBS said but. I paid both mortgages the same amount as per 3 other mortgage insitutions I had been paided prior.

On July 29th, 2010 I received an Important Notice of Delinquincy stating that I had a new negative balance of -$2.266.73 on Loan B, and a negative balance of -$2, 231.95 on Loan A escrow accounts.

I had never before had escrow accounts on either of these loans, as I paid the taxes and insurances on both properties directly to the proper entities ever since I purchased these properties. IBM/LPBS opened an escrow account for insurance on both contracts without my knowledge or signature. After 5 faxes /letters completely detailed along with front and back cop[ies of the checks cashed by Bank of America, LPBS refused to accept my proof and payments of insurance. It took 3 more FAXes and they claimed one was lost. I then had to have my insurance agent take over to stop this fire.

Now facing some new negative amounted to a grand total of -$4, 500.00 for no reason at all. LPBS refused to credit payments to both accounts Loan A and B escrow remibursements to Bank Of America till much later 2010. They began "suspended payment."

August 2010 was a new experience with the two escrow accounts climbing to negatives of -$2629.53 on Loan A and -$2664.31 on Loan B. AMAZING! Somehow I now owed $5, 300.00 total on both properties on non-existing accounts. The loan balances on both loans stayed the same not crediting payments towards the balance.

At this point the paid Bank of America payments I made were missing. I called Bank of America and they refused to help or be involved, stating that this problem was between the new lender (IBM/LPBS) and me, they stated that they "were out of it." Bank of America is still the lender and IBM/LPBS is just a loan processor/server.

September 2010 came and all my proof and days of hard work proved that I was paid up in full and there was no escrow due. That was true according to LPBS on only one Loan B. The second statement had an escrow amount due of more than the monthly loan payment. 300 dollars a month. What?

On August 18, 2010 to satisfy the lender, who tried to pay my escrow, I once again paid both escrows in full to LPBS, one for $795, 10 Loan A and the second for $807.64 on Loan B, Complete to maintain my own escrow payments. LPBS ONCE AGAIN FRADULENTLY AND PURPOSEFULLY MISAPPLIED THIS MONEY. This caused penalties, phony fees and a "suspense account." 8 corrections and so called property inspection.

They had received my 2010 FULL YEAR escrow reimbursements for both of the loans but WOULD NOT CREDIT my payments, CAUSING MORE PENALTIES, FEES, INSPECTION FEES.

October 2010 came with Loan A removed escrow amount a new $307.00 a month and a new amount due of -$1, 067.79UNBELIEVABLE. Loan B had a new 312.00 a month escrow and a negative -2.629.52 escrow.

The second statement had no change on the balance EVEN WITH the MONTHLY PAYMENT BEING MADE. I made numerous telephone calls to LPBS in an attempt to straighten this out. The best quote on one of those phone calls was "You have three of the best working on getting this fixed. It will be put right or I'll quit my job." This person never called back as this person was in training in North Carolina.

I made both November payments on time but BOTH WERE "SUSPENDED" to cause a late fee and a Delinquent Notice.Both accounts had changed balances depite the timely payments.DESPITE THE FULL AND TIMELY PAYMENTS, THE BALANCES DUE NEVER CHANGED.

In December 2010 Loan A principal balance was now increased by $1, 600.00. My year to date principal was $183.40, which in December 2010 now became -$1449.52, with 11 corrections and my loan payment was "suspended." The other Loan B also had 11 corrections and the balance had been increased by $1, 660, with my year to date principal of $171.30 now reading -$1544.08.

DELINQUENT AND DEFAULT NOTICES ONCE AGAIN ARRIVING. THEY ARE SITTING ON MY $5, 700.00 PAID ESCROW DOLLARS, INCREASING MY BALANCES, REMOVING MY INTEREST PAYMENTS PAID DURING THE 2010.THEY ALSO SENT OUT MY SECOND NEGATIVE CREDIT REPORT DESPITE THEM BEING PROTESTED AND UNDER REVIEW.

January 2011, Loan A statement showed 12 corrections and a new negative-$795.11, better. I WAS AGAIN TOLD THAT THE ESCROW ACCOUNT WAS CLOSED.They had received my PROOF OF TAXES PAYMENT AGAIN WITH BOTH SIDES OF THE CANCELLED CHECK BUT "SUSPENDED PAYMENT." The Loan B which had no escrow account in December 2010, now had a $158.31 a month payment, twice the amount legally allowed and" SUSPENDED" MY PAYMENT AGAIN. OVER AND OVER I HAD PAID TIMELY AND THEY HOLD THE PAYMENTS AND APPLY THEM WHEN THEY WANT TO.

February 2010, more stupidity. The accounts finally has no escrow as agreed when it was up to $300 per month.
300 x 12 = $3, 600.00 yearly times the 2 accounts = $7, 200.00. MY TAXES ON THAT ACCOUNT ARE ONLY $800.00 PER YEAR. ILLEGAL AGAIN. THEY MADE 5 CORRECTIONS AND "SUSPENDED" THE LOAN PAYMENT AGAIN.

PAYMENT ON THE LOan B ACCOUNT WAS ALSO "SUSPENDED, " WITH THE SAME EXCROW PAYMENT BUT A POSITIVE $747.77 ESCROW BALANCE. THE Loan A ACCOUNT SHOWED A NEGATIVE -$795.11 BUT NOW A NEGATIVE YEAR TO DATE PRINCIPAL OF -$151.00 AND AN INCREASED BALANCE OF $150.00.

WHAT MAKES ALL OF THIS SO AMAZING is that both loans are due on the same date of the month. They are paid out of the same bank account. I MAKE BOTH PAYMENTS TOGETHER. PAYMENTS AND TAXES. EVEN USING THE SAME ENVELOPE. BUT SOME PAYMENTS SHOW UP AS BEING PAID LATE AND SOME ON TIME - NOT POSSIBLE.

When I paid back the taxes one account was doubled -$1554.00, the other zero or one negative -$795.00, the other plus $795.00. They also tried to apply these payments to principal and TOLD ME I WAS TWO MONTHS AHEAD ON ONE ACCOUNT AND ONE MONTH AHEAD ON THE OTHER.

I HAD THEM GO BACK AND APPLY MY PAYMENTS LEGALLY AS INTENDED TO REIMBURSE ESCROW PER OUR TELEPHONE CONVERSATION, WHICH THEY NOW REFUSE TO DO.

WHEN IBM/LPBS CLOSED THE ESCROW ACCOUNT, I PAID MY PROPERTY TAXES AT THE PROPER COURTHOUSEIN JANUARY FOR 2011.

IBM/LPBS STATES THAT THIS YEAR THEY ALREADY/CHARGED THE 1ST HALF TAXES ON JANAUARY 29, 2010 AND THE SECOND HALF ON MARCH 29, 2010.

THAT IS A LIE. I PAID THE TAXES, SO THEY ARE NOT DUE. THEY CAN'T PAY IT. THIS SHOWS THEY DON'T PAY YOUR TAXES WHEN THEY SAY THEY DO OR WHEN THEY BILL YOU. Jamming it up front in the year earns them more excrow. BANK OF AMERICA IBM/LPBS PAY THE TAXES ON DECEMBER 31ST.

IBM/LPBS IS TRYING TO CHARGE ME TWO TIMES THE DUE ESCROW FOR TAXES FOR THIS YEAR, WHICH I ALRELADY PAID AT THE COURTHOUSE.1/6TH IS ALL THAT IS ALLOWED BY LAW, (RESPA) THE AMOUNTS ABOVE ARE ILLELGAL.

They verbally promise one thing then change everything to their needs including payments.THEY HAVE SENT ME SEVEN FORECLOSURE NOTICES since June 2010 when I HAVE BEEN PAID UP IN FULL AT ALL TIMES.

I have neverhad escrow accounts on either loan. I WAS TOLD JUST TO SEND IN A REQUEST FOR NO escrow as previously existed, NO PROBLEM. I HAVE BEEN TOLD VIA TELEPHONE ESCROW WAS CLOSED NUMEROUS TIMES (EVEN HAD NO ESCROW ACCOUNTS SHOW ON PAYMENT STATEMENTS), BUT THAT CHANGED AGAIN THE NEXT MONTH, ONLY TO HAVE IT REAPPEAR FOR TWICE THE AMOUNT. I HAVE BBEN TOLD AFTER FIVE SUBMISSIONS, THAT TWO WERE LOST AND THAT THE COMPANY NEVER DOES THAT AT ALL.

EVERY PAYMENT I HAVE MADE SINCE JULY 2010 HAS NEVER BEEN CREDITED.

I HAVE RECEIVED NOTICE OF ADDED FEES, REDUCED FEE, THREE STATEMENTS FOR THE SAME MONTHLY PAYMENT WITH DIFFERENT AMOUNTS DUE.

I HAVE MADE OVER 60 PHONE CALLS, SPOKEN TO 22 DIFFERENT REPRESENTATIVES SINCE JUNE OF 2010 IN AN ATTEMPT TO STAIGHTEN OUT THEIR MESS AND CORRECT THEIR ERRORS OR UNLAWFUL POLICIES, NO STATEMENT FOR THE MONTH OF JUNE 2010, THE DEFAULT/LATE NOTICES, FORCED INSURANCE POLICIES WHEN I PROVIDED PROOF OF INSURANCE THREE DIFFERENT TIMES AT A RATE OF FIVE TIMES THE COST I NOW PAY THROUGH BALBOA INSURANCE COMPANY, WHICH IS A PART OF BANK OF AMERICA. IS THAT LEGAL?

MY CREDIT REPORT HAS BEEN SENT OUT THREE TIMES TO OTHERS DURING THIS DISPUTE WHEN THEY "SUSPENDED" MY PAYMENTS SHOWED UNPAID FEES OR FINES. LPBS STATED THEY DO NOT DO THAT.

THEY HAVE NOT CREDITED MY ACCOUNTS PROPERLY SINCE THEY TOOK OVER THIS LOAN.

Mr. Jay L. Memmontt has a history of being involved in fraud and scams. From his banking days at Beverly Hills Bancorp, Wilshre Credit Corp, came fraud convictions and a Bear stearns take over.Once rolled into Bear Stearns, who also faced predatory charges. All of this smells of the MERS method of illegal practices and was shut down and not allowed for busines in many states but has reappeared as Jay Memmott's Bank of America/IBM/LPBS system of banking. The above parties perform illegal loan enforcement and should be stopped and looked at as to the laws they break. RESPA Laws, Truth in Lending Act. Banking Fraud.

MY CASE SPEAKS LOUDLY OF U.S. CODE TITLE 18 1344 BANK FRAUD (2).
ALL OF THESE CONTINUED ACTIONS, EFFORTS AND ILLEGAL PRACTICES ARE BY NO MEANS A MISTAKE OR ERROR AT THIS POINT. I HAVE INCLUDED A LETTER ADDRESSING THE PRACTICES OF BANK OF AMERICA AND IBM/LPBS.

Update: March 2011 Loan A has a new $124.94 escrow with a pricipal balance of $33, 495.21. When I had this loan transfered the balance was $32, 150.17. So after a year of payments my balance has risen $1, 345.00. Statement held 4 corrections and a property inspection fee again.
Loan B had 5 corrections property inspectioin fee. a 73.31 escrow .

April 2011 called asked for complete payment for both balances. Loan A and B, The Statements for were paid Under protest paid 4 times by phone w/ confirmation numbers, 2 amounts due for april Loan A and B paid 4/15 and the 2 more phone payments 4/16, witnessed, for Loan A and B so called complete due.They credit on 4/18 for late fees. 2 more property inspection fees are you kidding no one goes there. just piling it on..