WHAT'S A QWR?
The Qualified Written Request is a specific kind of letter that you can send to your mortgage servicer when you believe there is an error on your mortgage account. You have to make sure to follow the rules for formatting it, but the servicer is bound by federal law to respond within a certain period of time. If they don't, you can go after them for actual damages, costs and attorneys fees, plus $1000 of additional damages if there is a pattern of noncompliance.
Attention Customer Service:
Subject: [Your loan number]
[Names on loan documents]
[Property and/or mailing address]
This is a "qualified written request" under Section 6 of the Real Estate Settlement Procedures Act (RESPA).
I am writing because:
I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.
Sincerely,
[Your name]
REMEMBER: This letter SHOULD NOT be included with your mortgage payment, but should be sent separately to the customer service address.
You SHOULD continue to make the required mortgage and escrow payment until the request is resolved.
You may bring a private right of action under Section 6, if you suffer damages due to the lender's servicing of the loan. See the RESPA statute and regulations.
Tags:
Why on earth should a customer have know the fine points of format in order to get this kind of mandatory response?
Why should the lender not be required to give that response on any written communication complaining of an error on his/her account?
The answer could only be: because the bank lobby dreamed up this contortion of ordinary business practices to avoid being business-like.
That it has the weight of federal authority behind it is one more example of the bankers having too much power in our society.
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