1996 Mortgage made by Flagstar and paid off in 1999. Mortgage was assigned sometime between 1996 and 1999 to Mellon Mortgage.
Flagstar NEVER recorded an assignment of their interest. Mellon stamps mortgage PAID IN FULL and sends it for recording to Monmouth County Clerk. Clerk rejects discharging mortgage of record because Mellon does not own the loan, Flagstar Mortgage still does. Now it is 2013 and we find this problem while selling the house.
Flagstar sends you from wrong department to wrong department and then says I need to HIRE an attorney. The buyers are ready to walk away and I will lose the sale because Flagstar refuses to acknowlege and fix thier mistake. They now are saying it is Chase's problem. Chase acquired Mellon.
HOWEVER, Flagstar is still the owner of record and refuses to help.
The house is in contract for $500,000. If I lose this buyer (which took a year!) Flagstar will pay.
Product or Service Mentioned: Flagstar Bank Mortgage.