Managed to get my payment date changed from the first of the month, but found out a few weeks ago that the payment is still due on the first and until I make that months payment I am in arrears and no doubt charged arrears interest, going to request a SAR and find out the truth, or I may ring them and ask whatever will post result on here.

George You need help with that N244 and some advice and the place to go for that is the Home Repossessions thread, look at the top of the CAG home page you have Main Board, Banks and Credit and Debt click on debt scroll down to the sub forum home repossessions, you need the help of Ell-enn she is part of the site team she will help you with that N244, keep the posting simple such as: Help Repossession Hearing next week, she should respond, you need to do this asap like right now or even sooner.

George Because they sent the D/D form it does not mean your offer has been accepted, be very careful with this lot they prefer repossession, find out on Monday if your offer has been accepted and if yes get it in writing, if not you need a N244 form and Ell-enn on the repossessions forum urgently, if its good news on Monday give it a couple of days then check with the court make sure that hearing has been cancelled.

For anybody still reading this thread thought you might like this snippet I found about salaries at the FSA: Almost 200 staff earned between £100,000 and £200,000, 11 earning between £200,000 and £300,000, and four earning more than £300,000. The boss Hector Sants earned £478,000. If I had my way they would pay most of it back for failling to do the job they have been paid to do.

jasperpad You need help very quickly and you may not find it here, go to the main board look for the Debt forum scroll down until you find the sub forum Home Repossessions and post there, the person you need is Ell-enn she may be able to help, do this today. hope things work out for you. Regards nabl

peterjm Agree with you about lack of activity on this thread would contribute a bit more myself but very busy at the moment and cannot get my head around some of the legal argument, but I have kept up to date and read all the latest posts. I have had notification of my loan being transferred from SPPL to Mortgage Funding 2008 and I am concerned and I think everybody else should be, just remember who we are dealing with?, not sure where we go from here don't want to leave LD but a new thread for SPPL victims?. I think we need to keep pressure on the FSA, and OFT, have been fighting a mis-sold PPI case for two years and got nowhere then came recent FSA announcement on PPI and now I think a settlements in sight. nabl

You require a statement you need to find out what charges have been applied to the account, and did they ask you to fill in an income and expenditure statement before asking for the extra one hundred?, and was the loan taken out before 2006 or after?. You need help with this and that help is CAB, go on the telephone Monday morning and get an appointment with a debt councillor, but get the account statement it should be free but argue if its not you will need it for CAB. Was in a similar position as you two years ago three months arrears eight hundred pounds worth of charges, they tried for repossession but we fought back, nearly all the charges refunded, now pay twenty pounds off remaining arrears and now trying to get those refunded. I wouldn't bother with the wording of the agreement at the moment get these arrears sorted out first, when you have an affordable payment plan in place and your life is back on track then look at the agreement, have you asked if they would capitalize the arrears might be worth a try?, And one bit of advice I will give you is when you talk to them always be polite but do not let them push you around and if you can record the calls so much the better.

ikle pickle Until someone else comes along I will try to help, first a few questions what percentage of the arrears are missed payments and what percentage are arrears or litigation charges? if there are any, and what was the date the loan was taken out?, you need to try to save your home what was said at the time that you signed the agreement might not stand up in a court, hopefully someone with a better legal brain than mine will turn up very soon and help, try to find the answers to the above because you will be asked for this information. Well my reply may have helped a bit its bumped your thread to the top so someone might see it. will be back later to see if help has arrived.

Have you asked Capstone for repayment of the charges?, if you ask them now they have eight weeks to respond and that may be to long for you, your loan has been or will very soon be transferred to Mortgage Funding 2008 so you need to get this claim in ASAP. If you have asked for repayment and have the answer in writing just fill in the forms, available I believe on this site or the FOS, if you have not asked for repayment ring the FOS and explain the loan transfer and ask for advice, start your claim today do not put it off.

You are right Sue I thought I had found the missing link and got excited, it never pays to get excited, an old head on old shoulders but not acting like one. But how about this one: Standard&Poor's Ratings Services has assigned credit ratings to the €1,112.125 million mortgage-backed floating-rate notes issued by Mortgage Funding 2008-1 PLC. At the same time, Mortgage Funding 2008-1 issued £146 million of unrated notes. At closing, Mortgage Funding 2008-1 PLC issued the class A and B notes and used part of the proceeds to acquire the loan pool from the sellers, Preferred Mortgages Ltd. (PML) and Southern Pacific Mortgage Ltd. (SPML). This loan pool comprises first- and second-ranking mortgages on properties in England, Wales, and Northern Ireland and standard securities on properties in Scotland. The mortgage loans in the pool are nonconforming mortgages (for further details see "Collateral Description" and "Nonconforming Mortgages"). The notes benefit from collections of principal The loan pool of first and second ranking mortgages would this have been SPML and PML selling on second charge loans but not first charge mortgages?.

Found this posting on Money Saving expert [Went to the FSA & spoke to a lovely chap there, he told me mortgage funding 08-1 are not regulated with the FSA,but wilmington trust have a CCA credit licence with the OFT & that they only hold that licence on loans under 25k,but mine is a 1st mortgage over the 25k, I have also received a letter from Homeloans stating I should note MF08-1 as first mortgagee on my buildings insurance. Does anyone think I should take legal advice over this,with the info I have received from the FSA?.] Proof if proof was required FSA regulated loans being handed over to a company without FSA registration, anyone with a first charge mortgage (such as SPML) and transferred to Mortgage Funding 2008-1 get your complaint in to the FOS asap. nabl

Five guests at 15.00 we are getting popular maybe its because there is some activity on here again?. I wonder if bouncing betty is among them, I wonder why she called herself that?. (answers on a postcard please).

littledotty Yes they are going to look into it and pressure will be kept on to make sure they do. peterjm I am going for repayment of some unfair charges have spoken to FOS, forms going in post over weekend also letter to LR, not sure about date but its something I will chase them for. Many thanks for your posting regarding charges I was not aware of the urgency until notification of transfer arrived but have already tried to get charges back a request they refused and I have that in writing so if all else fails may try using that against them. littledotty Just received a call from Trading Standards regarding complaint to OFT, very interesting conversation not going to post details on here needs to be kept private at the moment will PM you over weekend. nabl

I received a letter yesterday advising me that my SPPL loan had been transferred to Mortgage Funding 2008, so I rang Capstone and asked who are Mortgage Funding 2008?, whats there address?, spent ten minutes on the telephone and ended up being told that it was none of my business and they would not provide any more details. The matter has now been reported to the OFT, surprise surprise it appears that I had every right to ask and should have been given the information, its not going to result in them getting their CCA licence revoked but now one person in the OFT knows a lot about Capstone and not just the lack of information they are also aware of the £85 arrears management fee and the £115 litigation charge, and thats how we can stop them, complain and keep complaining, FSA, OFT, Companies House, FOB, your MP, CAB, anyone who will listen?, someone said that Capstone have two types of customer A & B those that complain and those they can push around now lets all become A+. And if you look at Mortgage fundings CCA licence the name Wilmington Trust comes up who just happen to have the same London address as Capstone now thats a coincidence is it not?. Good to see both EIE and Sue back. Regards NABL

Could not post a link to this so have posted article. MoneyMarketing Capstone could be in line for MBO 29 April 2010 | By Paul Thomas The management of Lehman Brothers’ mortgage administrator subsidiary company Capstone Mortgage Services could be planning a buyout of the firm, Money Marketing understands. Lehman’s administrators PricewaterhouseCoopers are understood to be looking to restructure the business so its management gain a bigger stake in running the firm, fuelling speculation that the management team are aiming to achieve a buyout. A PricewaterhouseCoopers spokeswoman says: “The Capstone management team has been retained to run and potentially grow the business. There is no outside private equity support.” But the spokeswoman would not comment on speculation of an MBO. It was first suggested that Capstone could be sold in September 2008 following the winding-up order against Lehman Brothers. PricewaterhouseCoopers put Lehman’s sub-prime mortgage book up for sale in January 2009 after it reportedly failed to deleverage the Preferred Mortgages and SPML mortgage books. Lehman Brothers went into administration in September 2008 in the biggest bankruptcy in US history.

campari2 SPPL only hold (or should that be once held?) an OFT licence for second charge lending up to 25K and regulated by the Consumer Credit Act, for first charge lending and loans over 25K you need to be licenced by the FSA and SPPL are not but SPML are, hence the transfer, what was the date of the transaction?, I don't want the day and the month just the year will be fine, whats going to be very interesting is the paperwork, SPML hold an FSA and OFT licence so you need to have a good look at the way this switch was done, could it have done for less? as both are in the same stable, you never know you might find a loophole?. nabl

False representation that started in October last year when the last directors appointment was terminated?

Jetli Danielle Delorie Customer Service Manager at Capstone Mortgage Services. Previously Team leader Insurance & Servicing Team at Capstone. Before that worked for RBS and before that First National Bank. Ask your Solicitor to write asking them to confirm she works for SPPL confirmation on SPPL letterhead please, if you get it keep it you may find it useful in the future. You could also point out to your Solicitor that SPPL is a name and not much else ask him to check Companies House register No 4096093

Hello EiE Good to hear your still on board, I was fine until I read my emails have had a response from the OFT but not the one I wanted, "they said if I would like to check the status of a company click on this link to the register". What my message pointed out was that SPPL should not be on the register as they as good as bust, I sent attachments showing that they have no directors and all the paperwork was sent to a SAIL address in Jan, it appears that emails of complaint need to be sent marked: For the attention of the Credit Fitness Team so will try again later. ANW Is there a transfer window open?, and does he want to come back?.

Jetli Many thanks for your reply I remember your case and I thought SPPL was involved, may have something here but not sure if OFT angle has been tried in the past?, will keep you posted, and yes keep the fight going I know your situation, ours is we could get out by taking equity release but that would be walking away I want revenge first, might take it after our friends have been sunk.

Good morning EIE how are you?.

Good morning CSULTD welcome to the thread I see you are recently registered do you have a loan with the Capstone group?.

ANW I think you are right we are on the bridge of a sinking ship, and most of crew have jumped off, Just had a half time score in from the Financial league: Wycombe Wanderers 5 Caggers United 0 need more players for the second half.

Campari2 & ANW lets hope your next posts are about the common cause (please). Sent an email to the OFT this morning asking why SPPL still held a CCA licence?, the licence holder must notify the OFT of any change within the company If the OFT had known that the last director resigned in October and all the paperwork was removed in January would the licence have been withdrawn?. Now as far as I know you cannot take someone to court with a CCA regulated agreement if you do not hold a CCA licence, now Capstone are licenced but do they have the authority?, and if they have the authority why use the SPPL name at all?, also failure to notify changes that may affect the licence is an offence and I hope with a very large fine. As I have a limited knowledge of matters legal can someone answer this: if SPPL have not acted in accordance with their licence, because they failed to advise the OFT of changes in the company then would recent repossession in the name of SPPL be unlawful?. May be easier to argue that they are unlicenced rather than locus standi. This would of course depend on what the OFT have to say, but I cannot see them holding a licence for the last six months without one single director if the OFT had been aware of same. Anybody had a summons in the name of SPPL issued after October 09?.

The end of SPPL?, its a shell so why is it still listed?. Nice to see you back ANW will now go and brush up on my Shakespeare. blREX+0L0078-21586_1-04757613.pdf blREX+GJ0078-20859_1-04757613.pdf