Loan service companies are companies that service a loan for the investor or the actual lender. During this challenging time when the mortgage industry is overwhelmed its not uncommon to find some really bad loan servicers out there.
The loan servicer has alot of power to hand out loan modifications and often make some decisions based on what they feel to be right. The problem is some of the less qualified ones often make really bad decisions costing investors hundreds of thousands of dollars and hurting the borrower at the same time.
During this busy time when good, qualified people are in demand there really is no way to fix this. Hopefully your loan servicer is a good one.
