ASC – America’s Servicing Company

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ASC Mortgage stands for America’s Servicing Company. ASC is a division of Wells Fargo that services mortgages that were originated by other lenders. ASC provides managerial services for those loans, collecting the mortgage payments and handling business interactions with the borrower. It collects a fee for its services and distributes the rest of the funds it collects to the appropriate parties such as lenders, home insurance premiums, and property tax payments.

Services Offered by ASC

ASC Mortgage is not a lender. They do not offer mortgages to the public. However, as a mortgage servicer, they are the company you would contact when seeking a loan modification on a mortgage they handle.

ASC would be your point of contact for seeking a loan modification through the federal Home Affordable Modification Program (HAMP), although a private loan modification may also be available.

ASC Mortgage does not provide any type of mortgage refinancing. If you wish to refinance a mortgage serviced by ASC, you can do so with any mortgage lender, provided that you have sufficient equity in the property and meet the lender’s credit, income, and other requirements.

As a loan servicer, ASC will be your point of contact for the following services:

  1. Payment processing: ASC handles the collection of monthly mortgage payments from borrowers, ensuring that payments are made on time and processed accurately.
  2. Escrow account management: ASC manages escrow accounts for borrowers, using these accounts to pay property taxes, homeowners insurance premiums, and other related expenses.
  3. Customer service and inquiries: ASC operates a customer service center to address borrower inquiries and provide assistance. They handle questions related to payment schedules, escrow accounts, loan balances, and other mortgage-related matters.
  4. Default and foreclosure management: ASC manages the default process when borrowers cannot meet their mortgage obligations. They work with borrowers to find possible solutions to avoid foreclosure, but if necessary, they handle the foreclosure process in accordance with legal and regulatory guidelines.
  5. Year-end tax and interest statements: ASC provides borrowers with necessary year-end statements, including forms such as the 1098 Mortgage Interest Statement, which borrowers may need for tax purposes.

ASC Information and Details

As Wells Fargo’s servicer, America’s Servicing Company was incorporated on October 13th, 1964.

According to the Better Business Bureau (BBB), America’s Servicing Company is based in Des Moines, IA. They can be reached at (800) 842-7654.

ASC has an A+ rating from the Better Business Bureau but is not BBB-accredited.

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