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.
The Cook County, Illinois Qualified Written Request (BWR) under Section 6 of the Real Estate Settlement Procedures Act (RESP) is a powerful tool that allows homeowners to receive information and seek resolution regarding their mortgage loans. This legal provision provides homeowners with the right to send a written request to their loan service, demanding specific information and documents related to their loan, and addressing any potential errors or issues. A Cook County Qualified Written Request under Section 6 of RESP is an official communication sent by a homeowner or their representative to their loan service to obtain detailed information and request clarification on various aspects of their mortgage loan. This request is an important avenue for homeowners to gain a better understanding of their loan terms, payment history, and any potential discrepancies or irregularities. The purpose of a Cook County Qualified Written Request is fourfold: to identify and confirm the loan service's identity and contact information, to request information regarding the loan, to address any errors or other issues with the loan account, and to express any concerns or problems related to the loan servicing process. When sending a Cook County BWR, it is crucial to include key information such as the borrower's name, loan account number, and property address. Additionally, the BWR should outline the requested information and documents, which may include the loan application, servicing transfer history, payment history, escrow account details, fees and charges, and any relevant communications or notices. Different types of Cook County Qualified Written Requests under Section 6 of RESP may include: 1. Loan Information Request: This type of BWR seeks detailed information about the loan, such as the loan terms, interest rates, escrow account details, and any changes that may have occurred during the loan servicing period. 2. Error Resolution Request: In the case of suspected errors or discrepancies regarding the loan account, this type of BWR aims to identify and rectify any inaccuracies. This may involve reviewing payment history, fees, or charges that might have been applied incorrectly. 3. Escrow Account Inquiry: If there are concerns about the management of the escrow account, a BWR can be submitted to request a detailed breakdown of the escrow funds and payments, including taxes, insurance, or other related expenses. 4. Loan Servicing Concerns: Homeowners can express concerns or problems related to the loan servicing process, such as difficulties in contacting the loan service, poor customer service, or improper handling of requests or payments. By utilizing the Cook County Qualified Written Request under Section 6 of RESP, homeowners can ensure transparency, obtain essential information, and seek resolution for any issues related to their mortgage loans. It is recommended to consult legal counsel or seek advice from housing counseling agencies to ensure compliance with applicable laws and regulations.The Cook County, Illinois Qualified Written Request (BWR) under Section 6 of the Real Estate Settlement Procedures Act (RESP) is a powerful tool that allows homeowners to receive information and seek resolution regarding their mortgage loans. This legal provision provides homeowners with the right to send a written request to their loan service, demanding specific information and documents related to their loan, and addressing any potential errors or issues. A Cook County Qualified Written Request under Section 6 of RESP is an official communication sent by a homeowner or their representative to their loan service to obtain detailed information and request clarification on various aspects of their mortgage loan. This request is an important avenue for homeowners to gain a better understanding of their loan terms, payment history, and any potential discrepancies or irregularities. The purpose of a Cook County Qualified Written Request is fourfold: to identify and confirm the loan service's identity and contact information, to request information regarding the loan, to address any errors or other issues with the loan account, and to express any concerns or problems related to the loan servicing process. When sending a Cook County BWR, it is crucial to include key information such as the borrower's name, loan account number, and property address. Additionally, the BWR should outline the requested information and documents, which may include the loan application, servicing transfer history, payment history, escrow account details, fees and charges, and any relevant communications or notices. Different types of Cook County Qualified Written Requests under Section 6 of RESP may include: 1. Loan Information Request: This type of BWR seeks detailed information about the loan, such as the loan terms, interest rates, escrow account details, and any changes that may have occurred during the loan servicing period. 2. Error Resolution Request: In the case of suspected errors or discrepancies regarding the loan account, this type of BWR aims to identify and rectify any inaccuracies. This may involve reviewing payment history, fees, or charges that might have been applied incorrectly. 3. Escrow Account Inquiry: If there are concerns about the management of the escrow account, a BWR can be submitted to request a detailed breakdown of the escrow funds and payments, including taxes, insurance, or other related expenses. 4. Loan Servicing Concerns: Homeowners can express concerns or problems related to the loan servicing process, such as difficulties in contacting the loan service, poor customer service, or improper handling of requests or payments. By utilizing the Cook County Qualified Written Request under Section 6 of RESP, homeowners can ensure transparency, obtain essential information, and seek resolution for any issues related to their mortgage loans. It is recommended to consult legal counsel or seek advice from housing counseling agencies to ensure compliance with applicable laws and regulations.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
