NACA Agreement with Servicers

Fiveaces

LoanSafe Member
Oct 30, 2009
29
0
0
BEWARE. I've been working with NACA since September of 2009 and not much has happened. In fact today I received the following email from my NACA contact:

"On 5/3/10, I sent an email to Aurora requesting them to provide a solution to the NACA Restructure proposal ASAP. To date, unfortunately, NACA has yet to receive any correspondence from Aurora. This in part is due to NACA not having an agreement and/or Contract with Aurora. If you can follow up with them and provide me with a viable contact within their Loss Mitigation Dept. "

So after almost 9 months, I'm finally being told in so many words that NACA is powerless against servicers which they do not have an agreement/contract with. Waiting on NACA has been a colossal waste of time. I can get just as far as they can on my own. Note to all: make sure your servicer has a contract with NACA before you start this process. It could be all for nothing.

I've listed below a list of servicers that currently have contracts with NACA. I got this from a NACA rep on LoanSafe:

Bank of America

Home Loan Services

Wilsire

Wells Fargo

Wachovia

Wells Fargo Financial

ASC ... America's Servicing Company

CitiMortgage

CitiFinancial

AHMSI

Saxon
Litton
GMAC/Homecomings

IndyMac/OneWest

This list is subject to change at anytime.

NACA will continue to help advocate for homeowners whose servicer may or may not be on this list.


Has anyone had success with a modification through NACA from a servicer NOT on this list? Do tell.
 

Etherplain

LoanSafe Member
Mar 7, 2009
38
0
0
I posted in another thread that I'm looking into getting an attorney to pursue my modificiation and NACA does have an agreement with my lender. So that should tell you something.

The truth is that these lenders, at the very least, need to be ridden like stubborn mules. If you don't stay on top of them they just wander off where you don't want them. NACA doesn't appear to have the clout or manpower to do this. That's what I'm coming to realize anyway.

I mean really? What good does following up with the lender only once per month via email going to do in regards to a stuborn lender? Particularly where they don't have a contract/agreement?

:(
 

rameda18

LoanSafe Member
Apr 16, 2009
317
1
0
Well, you should have known that before you started with NACA. When I started with NACA, I made sure that NACA has agreement with my servicer.
 

Fiveaces

LoanSafe Member
Oct 30, 2009
29
0
0
Really Rameda18? I never thought of that. Your must be a genius. I wish you were around to offer that tidbit before I started this process. You should change your username to Einstein.

I've always known that my servicer didn't have a contract with NACA. What was never conveyed to me was how powerless they are without the contract. My point is if they don't have a contract, do it on your own. I have been patient with them to see what they could do since they have always told me the would get results. When they start asking ME for MY contacts, you know you're in trouble. Duh.
 

rameda18

LoanSafe Member
Apr 16, 2009
317
1
0
Well, NACA can only do so much. I would only think NACA help me through the paperwork process. I didn't think they have any power even with the agreement.

For me, NACA helped a lot by postpone my sale date...even that I have to remind NACA. In your case, at least NACA let you know they need help. Maybe if u put both share information, it would help a lot more.
 

tcat

LoanSafe Member
Apr 1, 2014
2
0
1
70
Well, NACA can only do so much. I would only think NACA help me through the paperwork process. I didn't think they have any power even with the agreement.

For me, NACA helped a lot by postpone my sale date...even that I have to remind NACA. In your case, at least NACA let you know they need help. Maybe if u put both share information, it would help a lot more.
Well, NACA can only do so much. I would only think NACA help me through the paperwork process. I didn't think they have any power even with the agreement.

For me, NACA helped a lot by postpone my sale date...even that I have to remind NACA. In your case, at least NACA let you know they need help. Maybe if u put both share information, it would help a lot more.