Mortgage Servicers

Servicers Offer Loan Mod Help Center Faster Loan Modification Decisions

(Source: LoanSafe.org By Michael Nazarini) – Working in conjunction with loan modification and disposition analysis software custom created for RESTReportMatters.com, LoanModHelpCenter.com has begun processing loan modifications and short sales with servicers to achieve faster and more efficient answers to loan [...]


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Banks’ Mortgage Servicing Falls Short, Connecticut Says

(Source: David McLaughlin, Bloomberg News) – Connecticut Attorney General George Jepsen is seeking meetings with four U.S. lenders to discuss their foreclosure practices, saying they are failing to devote sufficient resources to servicing mortgages.


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Banks File Plans to Fix Mortgage Servicing

(Source: Wall Street Journal By Alan Zibel) – The nation’s largest banks have submitted plans to fix their troubled mortgage-servicing operations. But those plans will remain confidential, despite calls from some on Capitol Hill to publish the information, a bank [...]


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Blumenthal Announces Senate Probe of Mortgage Servicers

July 11 (Source: By Janice Podsada, The Hartford Courant, Conn.) – Sen. Richard Blumenthal said Monday the Senate Judiary Committee will investigate alleged abuses by mortgage servicers, including improper loan modification agreements and shoddy foreclosure procedures, which may have resulted [...]


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Blumenthal Announces Senate Probe of Mortgage Servicers

(Source: The Hartford CourantBy JANICE PODSADA) – The Senate Judiciary Committee will investigate charges of abuses by mortgage servicers, including improper loan modification agreements and shoddy foreclosure procedures, which might have resulted in improper home seizures, Sen. Richard Blumenthal announced [...]


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Consumer Bureau Official: Mortgage Servicing Problems ‘Pervasive and Profound’

(Source: Wall Street Journal By Maya Jackson Randall and Alan Zibel) – Fixing the mortgage-servicing market, which has been plagued with allegations of shoddy home-foreclosure practices, will be one of the new Consumer Financial Protection Bureau’s main priorities, a top [...]


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U.S. Consumer Bureau Plans to Write Rules for Mortgage Servicers

(Source: Bloomberg By Lorraine Woellert) – The Consumer Financial Protection Bureau is preparing to impose rules on U.S. mortgage servicing firms, said Raj Date, the bureau’s associate director.


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Lenders Said Near Foreclosure Deal

NEW YORK (Source: Boston Globe) – JPMorgan Chase & Co., Bank of America Corp., and three other US mortgage servicers are in advanced talks to resolve state and federal claims over faulty foreclosures, according to two people briefed on the [...]


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Problems Rampant in Mortgage Servicing, Advocates and Regulators Say

(Source: By Jamie Smith Hopkins, The Baltimore Sun) – Anca Safta never missed a payment on her loan to expand her Lutherville home. But that didn’t stop Safta’s mortgage servicer from citing her this year for failing to pay, reporting [...]


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Madigan and Other Attorneys General Meet with Banks on Foreclosure Practices

(Source: WJBC By: Nick Gale) – Illinois Attorney General Lisa Madigan is one of several attorneys general from across the nation in Chicago this week, in negotiations with the top five U.S. mortgage servicers over foreclosure practices. The San Francisco [...]


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House Republicans Draft Letter on Warren Mortgage-Talks Role

(Source: Bloomberg By Phil Mattingly) – U.S. House Republicans will press for new details on Elizabeth Warren’s role in talks to settle federal and state claims that mortgage servicers improperly processed foreclosures.


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Courts may reshape mortgage industry ‎

(Source: Washington Post) – The cases also underscore the uncertainty that continues to surround Mortgage Electronic Registration Systems, known as MERS, which has allowed the financial industry to transfer and reassign millions of mortgages quickly and cheaply since the 1990s. [...]


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Senators Press OCC to Work With States on Mortgage-Servicing Plans

(Source: Bloomberg) -Twelve U.S. senators urged the Office of the Comptroller of the Currency to work with state attorneys general and other federal agencies as it considers banks’ plans for addressing mortgage-servicing deficiencies.


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U.S. Targets Poor-Performing Mortgage Servicers

(Source: Reuters) – The U.S. Treasury has started withholding payments to three of the biggest mortgage servicers because of their poor performance in modifying loans under a federal program to assist homeowners behind in their payments.


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NY Fed Probing Goldman Mortgage Servicing Unit

(Source: Reuters) – The Federal Reserve Bank of New York is investigating whether Goldman Sachs’ mortgage servicing arm did not conduct proper reviews before denying borrowers the option to lower their payments under a government loan modification program.


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