Seterus Inc is a residential mortgage servicing company which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
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What is Seterus Inc?
Seterus, Inc. is a mortgage loan servicer based in Oregon. Seterus has received consumer complaints, some of them alleging violations of the Fair Debt Collections Practices Act (FDCPA) such as misrepresentation and improper sharing of information. If you have been contacted by Seterus regarding your home loan, make sure you understand your rights before responding.
According to its website, Seterus Inc us is “one of the nation’s leading specialty loan servicing companies, [offering]…fully integrated loan servicing…consisting of experienced, skilled professionals using leading technology.”
A review from a consumer on the BBB website reads: “They are NOT in the mortgage business at all! They act more like a collections agency. They do not want you to pay your mortgage, they want you to default so that they can get your house.”
Seterus services home loans that have been transferred from the original lender. As a result, many of these loans may be in default or in danger of defaulting. The Homeowner Assistance tab of Seterus’ website offers serval options for people “experiencing a financial hardship and having difficulty paying their mortgage.” For homeowners experiencing difficulty paying their mortgages, Seterus offers three basic options: loan modifications; short selling; and deed sales. These options are designed to assist homeowners to avoid foreclosure. Seterus accepts applications on the internet, by mail, and via overnight courier.
For homeowners currently not in default, Seterus’ Homeowner Resources page encourages enrollment in autopay; visiting the KnowYourOptions.com website; contacting the Department of Housing and Urban Development; and checking their credit reports annually. In addition, there is a New to Seterus tab with a brief list of Frequently Asked Questions and a Request a Payoff Quote tab for homeowners interested in paying off their balances at a reduced rate.
Who are we? We are Lemberg Law, a Consumer Law Firm
Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We are ranked A+ by the BBB. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors. Harassed? Abused? Misled by a collector? Call our Helpline today! There is no charge unless we win.
How many complaints are there against Seterus Inc?
The BBB has closed 532 complaints against Seterus Inc in the past three years. Since March 2015, the Consumer Financial Protection Bureau (CFPB) has received 873 complaints against Seterus. Justia lists at least 45 cases of civil litigation naming Seterus as a defendant.
Can you help me file a No Fee Lawsuit against Seterus Inc?
Absolutely. Here are some Sample Cases against Seterus Inc.
In December 2015, in the United States District Court of Appeals for the Eleventh Circuit, a judge issued a decision in a case alleging Seterus’ business practices had violated the Fair Debt Collections Practices Act (FDCPA). Previously, the plaintiff had filed a complaint alleging violations of the FDCPA and the Florida Consumer Collections Practices Act (FCCPA) in which the court had granted summary judgement in favor of Seterus. In this case, the plaintiff appealed that decision. Initially, the plaintiff had taken out a loan of $160,000 in 2004 to secure a mortgage for a home. He defaulted on the home loan in August 2012, and Seterus began servicing the loan in October 2012. Because the loan was in default, Seterus had begun foreclosure proceedings. The plaintiff asked Seterus to reinstate the mortgage in August 2013, which required that he meet “certain conditions, including paying all sums due; curing any defaults; paying any expenses incurred in the process; and taking any other actions that may be reasonably required. In September 2013, Seterus sent the plaintiff a letter indicating the total amount to reinstate the mortgage was $15,569.64. This amount included $3,175 in “estimated attorney’s fees.” The plaintiff paid the entire amount and the loan was reinstated. Seterus refunded the $3,175 in estimated attorney fees in November 2013, and subsequently, the plaintiff sued Seterus for two separate violations of the FDCPA.
The first violation cited the prohibition against “the collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law” The second violation cited the prohibition against using “any false, deceptive, or misleading representation or means in connection with the collection of any debt, including the false representation of (A) the character, amount, or legal status of any debt; or (B) any services rendered or compensation which may be lawfully received by any debt collector for the collection of a debt.”
Initially, the court granted summary judgement to Seterus because Seterus had identified the estimated attorney fees as estimates rather than actual fees, but the appeals court agreed that the FDCPA’s provision prohibiting “the false representation of any ‘compensation which may be lawfully received by any debt collector for the collection of a debt’…was violated… when Seterus demanded that the plaintiff pay estimated attorney’s fees before it would reinstate his loan, because Seterus could not ‘lawfully receive’ those fees…whether the plaintiff believed it was entitled to those fees” or not. Similarly, the appeals court reversed the earlier decision and found Seterus in violation of the FCCPA, which states that collection agents cannot “claim, attempt, or threaten to enforce a debt when such person knows that the debt is not legitimate, or assert the existence of some other legal right when such person knows that the right does not exist.”
Seterus, Inc. 14523 SW Millikan Way STE 200 Beaverton, OR 97005-2352 Website: https://www.seterus.com/
Seterus Inc Calling You?
Federal laws protect you. The Fair Debt Collections Practices Act (FDCPA) regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt. The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).
But here’s the rub: If you want to enforce your rights, or recover money for violations — you need to sue. These laws provide individuals like you with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.
Want to Stop Seterus Inc Debt Collection Harassment Now?
Your debt harassment checklist:
You are receiving multiple calls per week from third party collection agencies
You are receiving early morning or late night calls from debt collectors
You are recieving calls at work from a debt collection agency
Debt collectors are calling your friends, neighbors, or coworkers
Collectors are threatening you with violence, a lawsuit, or arrest
A debt collector attempts to collect more than you owe
You are being threatened with negative credit reporting
A debt collector attempts to intimidate you
Criminal accusations are being made towards you
Use of obscene language during an attempt to collect
Automated robocalls are being made to your phone in an attempt to collect
“The group at Lemberg Law was professional, courteous, and effective. Their grasp of consumer protection laws and guidelines are second to none, and they work extremely difficult to ensure this procedure is client-friendly.”
“After a few months of frustration with a debt collector, I eventually called Lemberg Law. It was among the best financial decisions I have ever made. Jody and her staff were comprehensive, useful, and above all else powerful. I highly recommend their services and thank them for their continual efforts.”
“I just wanted to let you know we received the check from your office on now and I wanted to take some time to inform you that we really appreciate all of your efforts in this matter.”
Can You Help Me Delete Seterus Inc from My Credit Report?
Chances are good that we can help. Call us today and we’ll explain.
Can Your Firm Help me Deal with Seterus Inc?
In short, the answer is yes. Contact us to find out more.
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About the Author:
Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.