Washington Mutual (WaMu)

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Category: Business & Finances

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United States

Washington Mutual (WaMu) Reviews

October 6, 2008

Unethical Business Practices

I paid off my WAMU credit card in 8/08. Three weeks later, I recv'd a bill in the mail for $28 - citing finance charges. I finally found the executive services phone no. and called and got Ana on the phone. She was very nice, pleasant, sympathetic to what the company had done to me. I faxed her the information I referred to in our talk. I told her several times that a company rep. would only be able to call me after my wk hrs and since her office was 2 hours behind me, that would not be a problem. She had a rep call me at work, where I was not able to take the call. Today, I spent over a half hr. on the phone with these people - refusing to let me speak to a representative. Telling me no one was available and would not be available. Some history - 7 mos prior to this call, I attempted numerous times to contact WAMU as I was having some financial difficulty. Their representatives in the Phillipines refused my requests repeatedly to speak to someone in the United States. One of their Phillipino reps. actually told me to F--K off and then proceeded to hang up on me. Today, I was told by a woman that the same day I paid off this account in full, was the same day the stacked the $28 in finance charges on which would of course be without the consumer knowing this and all of a sudden, by the time the next billing cycle comes around, that $28 has not been paid because you did not know about it and then more finance charges are heaped on top of that because you're all of a sudden "late" in paying your payment. Its a no win situation with WAMU. I can now understand why they are having the legal troubles they have currently. BEWARE OF THIS COMPANY. UNETHICAL BUSINESS PRACTICES.

July 23, 2007

Deceptive business practices!

My wife and I have had literally stellar credit our entire lives. We have a long and reliable credit history. We purchased a home and got a 15 year FIXED mortgage. We have religiously paid our mortgage on-time since.

Since the initial loan, our mortgage was purchased by Washington Mutual (WAMU).

We received a telephone call from WAMU’s collection department stating our mortgage was not paid for May 07... what... yes it was???

Through some investigation we have learned that they determined our escrow was short and they raised our mortgage... get this... TWO YEARS AGO. We were never informed!

Evidently, they have been mailing notices to an incorrect address. NOT the “current” address for us listed on our loan application, NOT the property address where the loan was taken on (application flagged the property will be “PRIMARY RESIDENCE”). Evidently, they have been mailing notices to some other (incorrect) address they found on a credit report!

They claim that we have been late on our mortgage for the past two years (because it was raised, and we have been paying the same, old amount). They have kept adding the late fees until they decided it was time to use our funds paid for May mortgage to late fees, leaving no money to pay the May mortgage, triggering a call to us.

We figured we could simply clear it up... right? NOPE! Their “dispute department” declined all claims by us. They insist that we owe thousands in late fees, and the negative reports to the credit bureau remain unchanged!!!

What to do? They are to the point where they don’t return our calls anymore, we are in the process of trying to sell/buy a home and have this mess on our hands!

The originally agreed mortgage has been paid on-time every month for the past 4 years without exception. How were we supposed to know they raised the mortgage?? They admittedly didn’t send any information to either address listed on our loan application. They admittedly never called us prior to this.

Now, we are looking at expensive legal fees to clear this up!

HELP!!!