What is a Qualified Written Request?
The Qualified Written Request is a letter that forces your bank or servicer to provide documents or information concerning your loan and to make account corrections, if warranted, or provide information on why they did not, within 60 business days. If you feel that you have had any problem with the servicing of your loan, or that there are any inaccuracies, you have the right to this simple request and it’s highly recommended that you exercise this right.
Under the Section 6 of the Real Estate Settlement Procedure Act (RESPA), every homeowner has this right, and for homeowners in foreclosure it’s vital you take this step to make sure you are being serviced correctly. You’ll see numerous letters like this on the Internet requesting all kinds of information from the bank. While they look great the actual information a bank will provide falls within specific guidelines which our letter provides. Asking for extraneous materials can allow the bank to refuse the request.
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Additional Information Concerning Other Letters Issues in