How long does lender have to reply?

I'm not certain that there's a time limit on lender's responses to queries such as yours, though I am certain that six weeks is longer than it ought to be. For example, I requested a copy of my mortgage note a couple of weeks ago, and it arrived within a week.

That would seem to be a normal turnaround time for documents to arrive, but then again every lender is different. Not every lender is sufficiently reliable to provide the kind of service that you might expect. That's a shame, of course, but the best way in which you might accelerate the process is to call again and repeat your request for documents.

You didn't indicate the reason for your request, but if it's related to a legal action, you might want to get your lawyer involved. That sort of prompting might just get the lender's staff off its dead posteriors.

My mortgage was held by a mortgage co. Anothertook it over, because the gov't came in on the original mortgage co. They notified me mid August 09, after my monthly payment went out as normal. They then started telling me I was behind on my mortgage. I showed doumentation confirming the payment was made as scheduled. Then the gov't seized the accounts of the original lender. Since then in the following 22 months I've been harrassed via mail, phone and so on. They damaged my credit twice

to finish my reply... I demanded in writing over a year ago written confirmation that the new lender was not going to report me to the credit agencies and that it was their error. They did so, within two weeks they reported me to the credit bureaus.

That scenario is far more than I anticipated when I responded to your query; I thought you were simply looking for some documents. This is a far more convoluted situation, and I'd suggest you might want to speak with a HUD-approved housing specialist who might have encountered such a circumstance before; and therefore might have the precise expertise you need.

You can always involve legal counsel, but the expense involved and the timing that might also result may very well put you severely behind the 8-ball on the mortgage.

Yeah its a muddy disaster. However, the new lender first acknowledged the money was released and would be credited to my account early in Jan '11 a week before they reported me again. In March they corrected the reports, but the damage is done. My credit was 800 and now is 600. A friend suggested I request the mortgage docs. I did so mid May, and here I am. Like I said I have a letter promising they would not report me and then they did within two weeks.

Do some research on RESPA, real estate settlement procedures act. It clearly is written in law, that when a borrower sends in a "Qualified Written Request" to dispute any discreprancy on your account, the lender has 21 days by law to respond to the request. They also have 60 days where they cannot report to credit bureaus any negative items. The lender is required to take immediate actions to address your concerns, or send you notice why the items disputed are in fact correct, and not a mistake on behalf of the lenders.

Thank you for that information. It's been a 22 month ordeal and counting. They actually sent me a letter saying it was their error and would not report me and did so within the next two weeks. And it has been entirely their error

Unfortunately, this is just one of those situations where the rules are on your side, but violations are so rampant that you must fight tooth and nail and go to incredible lengths to get those rules enforced. At least it should be relatively easy to get the credit report part straightened out.

To add to my situation, they've acknowledged their error, sent a correction to the credit bureaus, however, my other creditors have raised my interest rates, cut my credit lines, and I own a business where my personal credit rating is reviewed by many of the lenders of my clients and can be/ has been used to disqualify me for consideration on my clients' projects. Even though my creditors are aware of what happened they have opted not to restor my interest rates or credit lines.

the issue with my credit has been like a growing snowball rolling down a steep hill started by this lender. When my other creditors dropped or cut my credit lines and raised my interest rates, my credit rating dropped even further being my debt to credit ratio i.e. my debt compared to my available credit limit, changed for the worse

I looked into RESPA. Based on what I've read there was a clear violation of the notification rules. I received nothing from the former lender. I received notification from the new lender on 08/12/09 that as of 08/01/09 I was to make my payments to them. So based on the rule, I should have gotten a notice no later than 07/15/09. The original lender was shut down by the Gov't. But I see no exception for that

I posted the above comment. for some reason it listed me as a guest. Does anyone know if there's any exception to the RESPA rules based on the gov't seizure of the original lender? thx

As for an exception to RESPA based on the government's shutting down the initial lender - I know of no such exception, but I would have to guess that the shutdown would have altered any plans that they had to comply. That's not an excuse, of course, but I'm sure that things got lost in that shuffle.

I am trying to reach a settlement with the new lender without getting a lawyer involved officially but it's getting to the point where I may have to. I sent a letter this past Monday demanding for the third time my loan docs. I also warned that their non compliance makes me think they do not have it. My next move is to demand my title

If the lender cannot supply the loan documentation, then I assume that the loan obligations to the occupier of the home are discharged? I wouldn't think that the new lender would have a legal right to demand payment of the mortgage without the ability to prove a legitmate debt and agreement to pay, let alone have a claim against the property in the event of non payment?

Has ther been any established case law around this? I expect it's a more common issue than many people realise.