NY Establishes Loss Mitigation, Fair Dealing Duties for Mortgage Servicers

FHA National Servicing Center Loss Mitigation Services – HUD. – Home / Program Offices / Housing / Single Family / National Servicing Center / FHA National Servicing Center Loss Mitigation Services Loss Mitigation Services for fha homeowners communities across the United States are experiencing steady and even increasing rates of foreclosure, as well as an increase in the number of homeowners at risk of foreclosure.

Auction.com improves foreclosure outcomes for lenders and servicers Fidelity expected to ramp up LPS data operations Alabama Supreme Court rules in favor of MERS Congressional leaders reach a debt deal to avoid painful sequestration cuts The top four congressional leaders of both parties are expected to meet with white house officials next week to discuss a two-year budget deal, a pair of sources confirmed Friday.. They’ll also need to raise the debt ceiling later this year to avoid defaulting, with the Treasury Department.The U.S. Supreme Court is expected to rule on that question as early as this month. where the state constitution already.ModWright Instruments – We have grown as a company, significantly over the past couple of years and I am grateful to have the team that we now have. Thanks to Kristin as Director of Operations and Adi as Director of Production, I am free to pursue new designs, explore new ideas and.foreclosure reversed re no showing of compliance with FHA servicing requirements). 2012 PA Super 18 (court set aside mortgage foreclosure sheriff sale based on defect in Act 91 pre-foreclosure notice) Bennett et al. v. A.T. Masterpiece Homes, PA Super. March 6, 2012 (a UDAP issue, provide for the lender, “before four full

Financial Services Update – thewbkfirm.com – (5) For all mortgage servicers licensed or acting under the HMSA, it establishes a duty of good faith and fair dealing in communications, transactions and dealings with borrowers; and (6) Clarifies the requirements under the HMSA for processing mortgage payments, responding to borrower complaints, providing payoff statements and maintaining

UNITED STATES DISTRICT COURT DISTRICT OF. – 5 See Fannie Mae Single Family 2011 Servicing Guide, Pt. VII, § 609 (effective Apr. 21, 2009) (“All servicers must participate in HAMP for all eligible mortgage loans held in Fannie Mae’s portfolio or that are part of an MBS pool that has the special servicing option or a shared-risk MBS pool for which Fannie Mae markets the acquired.

Statebridge secures FrontRange Capital Partners investment Shadow Inventory To Peak in Summer of 2010: barclays servicers Can modify current loans, Fannie Mae Says Mortgage. modify their loan. If rates are high, these borrowers are unable to lower their payments and are more likely to default. “The remedy is simple: give servicers more leeway to reduce.A couple housing stories. the first provides analysis from Barclays analysts that suggests distressed sales will stay elevated for some time. The second is from Diana Olick about house prices and the tax credit. From Jon Prior at HousingWire: Shadow Inventory To Peak in Summer of 2010: BarclaysFrontRange Capital Partners completed an investment in mortgage servicer Statebridge, in an effort to continue the servicer’s growth and expansion.

Alabama Secure And Fair Enforcement for Mortgage. – Secure And Fair Enforcement for Mortgage Licensing Act. This chapter may be cited as the Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009 or Alabama S.A.F.E. Mortgage Licensing Act of 2009. (Act 2009-627, §1.). LOSS MITIGATION SPECIALIST. The term "loss mitigation specialist" means an

Servicers Can Modify Current Loans, Fannie Mae Says DeMarco says Senate hearing was constructive’ step toward taking Fannie Mae, Freddie Mac out of conservatorship – The former head of Fannie Mae’s and Freddie Mac’s chief regulator. DeMarco now is president of the Housing Policy Council that represents mortgage finance companies that originate, service and.

10-K – SEC.gov – For certain accounts, we perform specialty servicing activities utilizing a “high-touch” model to establish and maintain borrower contact and facilitate loss-mitigation strategies in an attempt to keep defaulted borrowers in their homes.

Dealing with Foreclosure and Loss Mitigation Requirements - FORECLOSING ON THE FEDERAL POWER GRAB: DODD. –  · New York’s Superintendent of Banks issued perhaps the most stringent state mortgage servicing regulations in October 2010, requiring servicers to pursue suitable loan modifications and imposing a “duty of good faith and fair dealing in [the servicer’s] communications, transactions, and course of dealings with each borrower . . . .”

Special Alert: Federal and State Officials File Settlement. – Special Alert: Federal and State Officials File Settlement with Nation’s Five Largest Mortgage Servicers March 15, 2012. Buckley Special Alert. On March 12, 2012, Federal and state officials filed documents in the United States District Court for the District of Columbia formalizing a previously announced settlement (the Settlement) of various government probes into alleged mortgage-related.

Regulation X: A New Direction for the Regulation of. – When mortgage servicers did implement loss mitigation options in 2007 and 2008, the majority of options increased borrowers’ monthly payments rather than reducing them. 103 McCoy, supra note 6 (manuscript at 24). For example, one study showed that over 84% of loan modifications involved capitalized arrears even though this increased the risk.