Submitted by Belinda (not verified) on March 23, 2009 - 4:17pm.
Guaranty agencies are no longer acting with simplicity. They handle federal and private loans which are handled differently because of federal regulations but they mix up the difference and screw up the borrower. Borrowers wouldn't be begging to know who the current assignee of their loan is (so they can be sure to pay the right lender) but for guaranty agencies mucking up communications. Guaranty agencies get between the borrower and the federal government when they've violated the regulations. No one is policing the guaranty agencies. And they are not looking out for the borrower. They are rewarded for their poor loan servicing.
Bring forth the truth and the will shall set you free. Turn a blind eye and you won't know what hit you. Guaranty agenies have become toxic debt manufacturers because of their poor loan servicing. Perhaps we need a third alternative for loan servicing.
You're Inventing the Simplicity
Guaranty agencies are no longer acting with simplicity. They handle federal and private loans which are handled differently because of federal regulations but they mix up the difference and screw up the borrower. Borrowers wouldn't be begging to know who the current assignee of their loan is (so they can be sure to pay the right lender) but for guaranty agencies mucking up communications. Guaranty agencies get between the borrower and the federal government when they've violated the regulations. No one is policing the guaranty agencies. And they are not looking out for the borrower. They are rewarded for their poor loan servicing.
Bring forth the truth and the will shall set you free. Turn a blind eye and you won't know what hit you. Guaranty agenies have become toxic debt manufacturers because of their poor loan servicing. Perhaps we need a third alternative for loan servicing.