Two years ago my mortgage was sold by First Tennessee Bank to Nationstar Mortgage. When I initiated payoff as part of a refinance it took two months for Nationstar to accept a payoff from the new bank. In addition, they charged a number of exuberant fees for payoff quotes and wire transfers. This was in part due to the new bank not following Nationstar's requirements to perfection. But, Nationstar intentionally delayed payoff and made it extremely difficult to pay off the loan. They rejected certified checks, lied on the phone about when certain documents would be faxed or mailed, and lied to me about what was going on when I called.
I'm write this so anyone that comes across this page in a "Nationstar" or "Predatory Lending" search will find this, and also to warn anyone who is thinking of refinancing and borrowing money from any bank. Many banks will intentionally make refinancing extremely difficult. Paperwork must be followed exactly, addresses must be checked up on (they will change their address), they will intentionally omit instructions and then deny the entire payoff. If you find yourself in a similar situation, document all interactions and call daily for status updates.
Definitions from Wikipedia:
Predatory Lending
Predatory Mortgage Company
