Mortgage Servicing

Bank Of America’s No-Good, Very Bad Enablers

(Source: Forbes Halah Touryalai) – What’s the worse than Bank of America acting as if it deserves immunity from all its  bad foreclosure behavior? A presidential administration that agrees.


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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’ Mortgage Servicing Falls Short, Connecticut Says

(Source: Bloomberg By David McLaughlin) – 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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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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Goldman Sells Mortgage Servicing Unit to Ocwen

(Source: New York Times By MICHAEL J. DE LA MERCED) – Goldman Sachs has agreed to sell its Litton Loan Servicing unit to the Ocwen Financial Corporation for about $263.7 million, ending its ties to an industry steeped in controversy.


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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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