Simone Lawson
A Qualified Written Request (QWR) is a letter sent to a mortgage servicer to request information about the servicing of a mortgage loan or to assert that the company has made an error. A QWR is sent to request detailed information about a mortgage account or to notify the servicer of an error. The Real Estate Settlement Procedures Act (RESPA) requires mortgage lenders, loan servicers, and brokers to disclose certain information to borrowers about the nature and costs of buying real estate. RESPA also requires servicers to provide borrowers with information about their loans and to correct any errors if a borrower makes a QWR.
| Characteristics | Values |
|---|---|
| What is a QWR? | A Qualified Written Request, or QWR, is a written correspondence sent to a mortgage servicer. |
| Who can send a QWR? | You or someone acting on your behalf can send a QWR. |
| When to send a QWR? | When you want to request information about the servicing of your mortgage loan or to assert that the company has made an error. |
| Where to send a QWR? | Send it to the correct address, which may be different from where you send your payments. |
| How to send a QWR? | You can send a letter or a handwritten note, but not on a payment coupon or other payment form. |
| What to include in a QWR? | Your name, account information, a statement of reasons for the error, or a detailed description of the information you are seeking. |
| QWR format | There is no specific format, but it should be sent to the servicer and not another party. |
| QWR acknowledgement | The servicer must confirm receipt within five business days and respond within 30 business days. |
| QWR fees | The servicer is not allowed to charge a fee for responding to a QWR. |
| Non-compliance consequences | If the servicer fails to comply, the borrower may recover damages, additional damages up to $2,000 for patterns of non-compliance, and attorney's fees and costs. |
| Statute of limitations | The statute of limitations for violations is three years. |
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What You'll Learn
QWRs must be sent to the correct address
When sending a Qualified Written Request (QWR), it is essential to ensure that it is addressed to the correct recipient. A QWR is a formal written correspondence sent to a mortgage servicer or loan servicer to request specific information or to notify them of an error in the servicing of a mortgage loan. Sending it to the wrong address can result in delays or even a failure to receive a response, as the servicer is not obligated to respond if the request is not sent to the designated address.
The correct address for QWRs may differ from the address where regular payments are sent. Servicers often establish a specific address for receiving QWRs, Notices of Error, or Requests for Information. This designated address should be provided to borrowers in writing, and it is the borrower's responsibility to ensure they are aware of and use this address when submitting a QWR. This address may also be listed on the servicer's website, or borrowers can call the servicer to obtain the correct information.
It is important to note that sending a QWR to the wrong address could have consequences. If the servicer does not receive the request at the designated address, they may not be held accountable for the specified time limits for responding. Under the Real Estate Settlement Procedures Act (RESPA), servicers are generally required to acknowledge receipt of a QWR within five business days and provide a response within 30 business days. However, if the request is not sent to the correct address, this timeline may not apply.
To ensure a timely and proper response, borrowers should take the necessary steps to identify the correct address for QWRs. This includes reviewing any written notices provided by the servicer, checking their website, or contacting the servicer directly. By sending the QWR to the correct address, borrowers can increase the likelihood of a prompt response and ensure their rights are protected under RESPA.
In summary, when submitting a Qualified Written Request, it is crucial to address it to the correct recipient at the designated address. By doing so, borrowers can facilitate a smooth and efficient process for obtaining information or resolving errors related to their mortgage loan.
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Servicers must acknowledge receipt within 5 days
Servicers must acknowledge receipt of a Qualified Written Request (QWR) within five business days, excluding Saturdays, Sundays, and legal holidays. This is a critical step in the QWR process, as it confirms that the servicer has received the borrower's request and triggers the timeline for responding to the request.
The servicer's acknowledgement can be in writing or oral, depending on the circumstances. If the borrower submits a QWR close to a foreclosure sale, the servicer must make a good-faith attempt to respond promptly, even if it is not in writing. However, in most cases, the servicer will provide a written response, especially if the borrower's request is detailed and requires a thorough investigation.
The servicer's acknowledgement of receipt is just the first step in the QWR process. After acknowledging receipt, the servicer must then work to resolve the issue or respond to the borrower's request for information. This response must be provided within a specific timeframe, typically 30 business days from the receipt of the QWR.
It is important to note that the servicer is not required to correct the error or provide the requested information immediately within the 5-day acknowledgement period. Instead, this period allows the servicer to confirm receipt and begin processing the borrower's request. The servicer must then work diligently to address the issue or provide the requested information within the following 30 business days.
The 5-day acknowledgement requirement is a critical aspect of the QWR process, as it ensures that borrowers receive a timely response to their requests for information or notices of error. It also helps to establish a record of the communication between the borrower and the servicer, which can be important if there are any disputes or discrepancies in the future.
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Servicers must respond with an answer within 30 days
Servicers must respond to a Qualified Written Request (QWR) within 30 business days. However, before this, they must confirm receipt of the QWR within five business days.
A QWR is a written request for information or a notice of error sent by a borrower to their mortgage servicer. It can be used to request detailed information about a mortgage loan account or to assert that the servicer has made an error. A QWR is often used when a borrower is facing foreclosure and is having difficulty getting information about their account.
To qualify as a QWR, the written request must include the borrower's name and account information, or information that enables the servicer to identify the account. It must also include a statement of reasons why the borrower believes the account is in error or a detailed description of the information being sought. Any written document, such as a letter or a handwritten note, can be considered a QWR, as long as it is not written on a payment coupon or other payment form.
It is important to note that servicers are not required to comply with every QWR. For example, if the request is too broad or similar to a previous request, the servicer may choose not to respond. However, they must notify the borrower within five business days of making that determination and provide the basis for their decision.
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QWRs can be sent by someone acting on your behalf
A Qualified Written Request (QWR) is a form of written correspondence that you or someone acting on your behalf can send to your mortgage servicer. It is a way to request information about your mortgage loan or to assert that the company has made an error. A QWR can be sent by someone acting on your behalf, such as an agent or a lawyer.
To make a QWR, the person acting on your behalf must send a letter to the mortgage servicer that includes specific information. This information typically includes your name and account details, or at least enough information for the servicer to identify your account. Additionally, the letter should clearly state the reasons why you believe there is an error in your account or provide a detailed description of the information being requested. It is important to note that a QWR must be sent to the correct address, which may be different from the address where you send your payments.
When submitting a QWR on someone's behalf, it is essential to establish your authority to act on their behalf. This can be done by providing documentation or written authorization from the individual. Once the authority is established, the servicer will treat the request as if it were submitted by the individual themselves.
It is worth mentioning that a QWR is not the only option to address these matters. You can also send your servicer a Notice of Error or a Request for Information. These alternatives can be sent separately or in the same letter as the QWR. Sending these requests via certified mail, with a return receipt requested, can provide confirmation that the servicer received the correspondence.
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Servicers can't charge a fee for responding to a QWR
Servicers are not permitted to charge a fee for responding to a Qualified Written Request (QWR). A QWR is a written correspondence that a borrower can send to their mortgage servicer to request information about the servicing of their mortgage loan or to assert that the company has made an error. It is important to note that a QWR is different from a Notice of Error or a Request for Information, which are also types of written requests that can be made to a servicer.
The Real Estate Settlement Procedures Act (RESPA) outlines the requirements for QWRs, and it has been clarified by the Fourth Circuit that a QWR must include sufficient information to identify the account and an alleged servicing error. This means that a general assertion of error without specific reasons is not considered a QWR. The letter should include the borrower's name and account information, or at the very least, enough information for the servicer to identify the account. Additionally, the borrower must provide a detailed description of the information they are seeking or a statement of the reasons why they believe the account is in error.
It is important to send the QWR to the correct address, as servicers may establish a specific address for receiving these requests. Once the servicer receives the QWR, they must acknowledge receipt within five business days and provide a response within a certain timeframe, typically around 30 business days. If the servicer fails to comply with the law or the QWR, the borrower may be able to recover damages and attorney's fees.
By prohibiting servicers from charging a fee for responding to a QWR, consumers are empowered to seek information and resolve errors related to their mortgage loans without incurring additional costs. This helps ensure fairness and transparency in the mortgage servicing process and encourages borrowers to exercise their rights and take action when needed.
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