What can I do?
First, it should be noted that there is currently no regulation of the mortgage loan servicing industry in the State of New Jersey. These matters normally have to be worked out between the consumer and the servicing company. If this cannot be accomplished, either party has civil recourse as the matter would be dealt with as a contract issue.
If you feel that the servicing is in breach of your mortgage contract (for example, not applying your payments properly, charging you fees that are not indicated on the mortgage note, failing to make timely tax payments through your escrow account, etc.) you should consider consulting with legal counsel. This counsel should have expertise in dealing with mortgage loan contract issues.
You can also file for assistance with the Division of Banking – Consumer Services Bureau. As a courtesy, this office will send a copy of your complaint along with a letter asking the subject mortgage company/bank to address the issues involved.
Please note that you can file a complaint at the same time as filing a civil action against the company as the complaint investigation will not impact any legal proceeding that may subsequently occur.
