12 USC 2605(e) creates a duty of a loan servicer to respond to the inquiries of borrowers regarding loans covered by RESPA. If the borrower believes there is an error in the mortgage account, he or she can make a "qualified written request" to the loan servicer. The request must be in writing, identify the borrower by name and account, and include a statement of reasons why the borrower believes the account is in error. The request should include the words "qualified written request". It cannot be written on the payment coupon, but must be on a separate piece of paper. The Department of Housing and Urban Development provides a sample letter.
The servicer must acknowledge receipt of the request within 20 days. The servicer then has 60 days (from the request) to take action on the request. The servicer has to either provide a written notification that the error has been corrected, or provide a written explanation as to why the servicer believes the account is correct. Either way, the servicer has to provide the name and telephone number of a person with whom the borrower can discuss the matter.
Connecticut Qualified Written Request under Section 6 of the Real Estate Settlement Procedures Act (RESP) is a powerful tool that homeowners can use to request information and resolve issues with their mortgage services. This provision grants homeowners the right to send a formal written request to their loan service, asking for specific information, clarification, or resolution regarding their mortgage loan. Under Section 6 of RESP, the Connecticut Qualified Written Request allows homeowners to challenge errors, seek clarification, or address issues related to their loan account. It enhances transparency and provides homeowners with a means to obtain necessary information from their mortgage service. By submitting a Qualified Written Request, homeowners can protect their rights and ensure fair treatment in the mortgage servicing process. Some key elements of a Connecticut Qualified Written Request include: 1. Identity and Contact Information: The request should contain the homeowner's name, address, and contact information. This helps the mortgage service identify the borrower and respond appropriately. 2. Loan Account Details: Homeowners should provide their loan account number and specify the property address associated with the mortgage. 3. Specific Request: The letter should clearly state the information or action the homeowner seeks from the mortgage service. For example, it could address issues such as unclear fees, erroneous charges, loan modification requests, or billing discrepancies. 4. Supporting Documents: It is advisable to attach any relevant supporting documents, such as mortgage statements, payment records, or any correspondence related to the issue at hand. This can strengthen the homeowner's case and facilitate a faster resolution. 5. Deadline for Response: Connecticut Qualified Written Requests should clearly state a reasonable deadline for the mortgage service to respond and provide the requested information or take appropriate actions. Different Types of Connecticut Qualified Written Requests under Section 6 of RESP: 1. Request for Loan Information: Homeowners can submit a Qualified Written Request to obtain specific information about their mortgage loan, such as the loan balance, interest rate, escrow account details, or payment history. 2. Dispute Resolution Request: If there are errors or discrepancies in the mortgage account, homeowners can send a Qualified Written Request challenging the inaccuracies and requesting a swift resolution. 3. Loan Modification Consideration: Homeowners seeking loan modification options can use the Connecticut Qualified Written Request to formally apply for assistance and relay supporting financial information for consideration. Overall, the Connecticut Qualified Written Request under Section 6 of RESP empowers homeowners to seek clarity, address issues, and protect their rights in the mortgage servicing process. It is essential to consult legal professionals or housing counseling agencies for assistance in preparing and submitting a thorough and effective Qualified Written Request.
