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american home mortgage servicing

Carrington Capital’s Bruce Rose Out Lawyered by Wilbur Ross of AHMSI

by Moe Bedard

Rose has been claiming that he has special rights to direct American Mortgage Home Servicing as to how it can modify loans and sell off foreclosed homes. Carrington’s motive was spelled out in an investigative feature story at HousingWire last May, which basically said the fund was trying to siphon off cash flow from the [...]

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American Home Mortgage Servicing Joins Making Home Affordable

by Moe Bedard

American Home Mortgage Servicing, Inc. (AHMSI) today announced its participation in the Home Affordable Modification Program (HAMP). 
I am not sure if the ACORN ordeal with AHMSI had promted this press release or what? In case you didn’t catch that news, here is a link and quote from a recent article explaining ACORNS beef with Obama.
Attention homeowners: Join LoanSafe.org [...]

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Wilbur Ross Purchases Citi’s $185 Billion Mortgage Servicing Portfolio

by Moe Bedard

I have been watching WL Ross and AHMSI since they gobbled up H&R Blocks’ Option One this past year and what I can say that this guy is the real deal. Mr. Ross knows exactly how to operate a proficient and “effective” specialty mortgage servicing operation for homeowners that are in default.

My firm was dealing with the infamous subprime Option One prior to the WL Ross purchase and their service went from terrible to OK within about 60 days of AHMSI taking over. There is still much room for improvement, but it seems like Ross is dedicated to helping more homeowners stay in their homes and he wants to stand out from the rest of the mortgage servicing crowd.

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H&R Block Closes Sale of Option One Mortgage Servicing Business

by Moe Bedard

KANSAS CITY, Mo. – H&R Block Inc. (NYSE: HRB) today announced that it closed the sale of the mortgage loan servicing business of its Option One Mortgage Corporation (“OOMC”) subsidiary effective April 30, 2008.  As previously announced, the purchaser was American Home Mortgage Servicing, Inc. (“American Home”), an affiliate of WL Ross & Co. LLC. [...]

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