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wilbur ross

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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CNBC’s Rick Santelli Refers to Suffering Homeowners as “Losers”

by Moe Bedard

By Moe Bedard
CNBC’s Rick Santelli isn’t a happy man. Referring to the millions of suffering Americans as “losers” Santelli spews forth some of the vilest verbiage I’ve heard in the foreclosure prevention debate. Santelli argues the new administration should use their powers of social media to determine how the average American feels about President Obama’s [...]

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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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Moe’s 2009 Predictions Become Reality

by Moe Bedard

It looks like some of my mortgage and housing predictions for 2009 that I posted on January 1st are starting to become reality.

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Massachusetts AG Coakley Puts the Legal Brakes on Option One & AHMSI Foreclosures

by Moe Bedard

Finally, a ”true” foreclosure victory for homeowners in the great state of Massachusetts!

In what I am suspecting will be common news in the coming months, Massachusetts Attorney General Martha Coakley office announced today that they have secured preliminary injunctions to prevent Option One Mortgage Corp. and H&R Block Mortgage Corp. from initiating or advancing foreclosures [...]

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