Arizona Attorney General Terry Goddard and the attorneys general of nine other states are asking 16 mortgage lenders to adopt streamlined mortgage modification programs to help ease the wave of foreclosures and bad loans.
The states cite protocols set up by Countrywide Financial after its merger with Bank of America as an industry example.
The states are asking lenders to create systems to fast track changes for distressed mortgage holders.
Those lenders include Wells Fargo Home Mortgage, Morgan Stanley Home Loans, HSBC Finance Corp., JPMorgan Chase & Co., Citigroup and American Home Mortgage Servicing Inc. California, Ohio, Texas and Illinois are among other states involved in the action.
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Andrew Monaghan
The Monaghan Group
Keller Williams Professional Partners.
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Andrew, wouldn't that be nice if they would streamline the process to streamline that process! Thanks for reading my post my friend...