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Templet for QWL and Validation of Debt


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I have had several people question ask what is a QRW and Validation of Debt Letter and how to write one. Every case I work on, this is the first thing that goes out....


Aug, 19, 2011

Bank of America

PO Box 5170

Simi Valley, CA 93062

Attn: Legal Department


Address: 101010 Baldwin Rd Evans, CO 80620

Account Number: 063400.......

To All Concerned,

Our office has been retained to assist our client in his attempt to save his home from foreclosure by obtaining a loan modification. Please treat this letter as a “qualified written request” under the Real Estate Settlement Procedures Act, 12 U.S.C. § 2605(e). This request is made on behalf of our client based upon his dispute of the amount alleged to be due and owing. Specifically our client believes that moneys have been misapplied to his account. To fully explore our clients claim, we are requesting a breakdown of the following information:

1. The monthly principal and interest payment, and monthly escrow payments

2. The total amount, separately listed and identified, for any unpaid principal, interest, escrow

charges, and other charges due and owing

3. The total amount paid on the mortgage account as of the date of default

4. For each payment received, indicate the amount of the payment, the date received, the date posted to the account, how the payment was applied or credited (indicating the portion, if any, applied or credited to principal, interest, escrow, suspense or other treatment), and the month to which the payment was applied. If interest is calculated using a daily accrual accounting method, indicate for each payment the number of days that lapsed from the prior payment application date.

5. The amount, payment date, purpose, and recipient of all foreclosure expenses, late charges, NSF check charges, appraisal fees, property inspection/preservation fees, force placed insurance charges, legal fees, bankruptcy/proof of claim fees, recoverable corporate advances, and other expenses or costs that have been charged and/or assessed to the mortgage account

6. The amount, payment date, purpose, and recipient of all escrow account items, including but not limited to taxes, water and sewer charges, and insurance premiums, charged and/or assessed to the mortgage account.

7. A breakdown of the current escrow account payment showing how it was calculated and the reasons for any increase or decrease in the months prior to the date of this letter. Indicate the date when the last escrow account analysis was conducted on the mortgage account.

8. The balance in the escrow account as of the date of this letter

9. The balance in any suspense account as of the date of this letter and the reason why such funds were deposited in said account.

10. The current interest rate on the mortgage account. To the extent that you, as servicer, have charged to the mortgage account any late fees appraisal fees, broker price opinion fees, property inspection/preservation fees, legal fees, recoverable corporate advances, and other fees or costs in connection with the default and your claim that the account is in default, our client disputes such fees and costs and specifically requests that the account be corrected to delete such fees and costs.

Additionally, upon our initial review of the available loan documentation, we have uncovered several potential legal issues, primarily relating to the timing and efficacy of disclosures required by the Real Estate Settlement Procedures Act (RESPA), the Truth in Lending Act (TILA), and the Fair and Accurate Credit Transactions Act (FACTA).

Given the potential violations we have already uncovered, we would like to continue our investigation into this matter. However, many of the documents that we require are not presently available.

Therefore, we hereby demand that you immediately provide our office with any and all documents relating to the above referenced loan, including:

(1) the Original Promissory Note, signed by the Borrower.

(2) all other original loan documents and disclosures.

(3) a complete and accurate payment history (including all account

statements from the original and/or intermediate creditors).

(4) documentation regarding all assignments, transfers or sales of the loan, including evidence that your company is the rightful holder of the loan.

(5) all other documents regarding your compliance with the servicing provisions contained in RESPA §3500.21.

Please produce each of these documents with 20 days of the date hereof for our inspection. As you are aware, the Fair Debt Collection Practices Act (‘FDCPA”) governs the actions of all debt collectors (including law firms) and requires very specific actions by any such debt collector in connection with the collection of any alleged debt.

Specifically, FDCPA requires that all debt collectors must produce validation of any alleged debt upon demand by the debtor. Without producing the above described documents, particularly the Original Promissory Note, the alleged debt may not be validated and you may expose your company to specified liability.

This demand letter does not specify all of the rights and claims to which the Borrower is entitled, and therefore, all other rights and remedies are expressly reserved.

We hereby submit this letter as a Qualified Written Request, and therefore, you are now required by Section 6 of RESPA to acknowledge this demand letter within 20 business days and resolve the matter within 60 business days.

We hope that you will contact our firm to discuss the option of resolving this case by means of a modification of the terms of the existing loan, rather than an ongoing dispute.

Very Truly Yours,

...Law Associates, P.C.


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