independent foreclosure review: The Check's in the Mail| Independent Foreclosure Review Check That Is
- 04/19/13 07:24 AM
The process for handling homeowners who experienced wrongful foreclosure and deficient mortgage servicing practices - i.e. Robosigning, foreclosure going through on a mortgage that was not in default, foreclsoure for servicepersons protected by poor handing of loss mitigation requests, etc. - changed a LOT with 13 major servicers. It went from requiring application and review by potentially 3.8 million homeowners seeking restitution for there practices, to 13 named servicers self-directing the restitution and reaching out to 4.2 million homeowners. Homeowners are receiving anywhere from $300 to $125,000 with the vast majority in the lower ranges. I know of someone who recently … (2 comments)
independent foreclosure review: Settlement of $8.5+ Billion For Unsafe|Unsound Foreclosure|Servicing
- 01/07/13 04:08 AM
Looks like 2013 is starting off with a concept many of us are familiar with – the only constant in life is change! And many times CHANGE is GOOD. The Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency announced today they have reached a settlement with ten of the servicers that were part of the Independent Foreclosure Review: · Aurora · Bank of America · Citibank · JP Morgan Chase · MetLife Bank · PNC Sovereign · SunTrust · U.S. Bank · Wells Fargo They are still working out settlements with … (0 comments)
independent foreclosure review: National Mortgage Settlement Deadline Approaching January 18, 2013
- 12/31/12 03:25 AM
Do you or someone you know believe you have suffered a wrongful foreclosure that led to losing your home between January 1, 2008 and December 31, 2011? Forty-Nine State Attorneys General and the Federal government recognized the prevalence of this dilemma when they came together and negotiated the National Mortgage Settlement. Heard of “robo-signing”? Were there inexplicable fees racked up on your final bill at the end of the foreclosure? Was “MERS” – the Mortgage Electronic Registration System – the entity that instituted your foreclosure? Payments will be given to borrowers who lost their homes to foreclosure, with the minimum … (2 comments)
independent foreclosure review: Going…Going…HURRY! Independent Foreclosure Review Deadline 12/31/2012
- 12/31/12 03:03 AM
Procrastinators, ATTENTION! Today is the deadline for filing a request for the Independent Foreclosure Review if you suffered what you believe was a wrongful foreclosure. If you, or someone you know, were anywhere in the foreclosure process anytime between January 1, 2009 and December 31, 2010, and believe you were financial damaged, your claim with supporting documentation has to be submitted by today. This review is separate from the National Mortgage Settlement - you may be eligible to apply for both. The review is being handled by independent reviewers, and it may take several months for you to receive a response. … (0 comments)
independent foreclosure review: Immense Possiblities|Foreclosure Avoidance|Housing Counseling
- 12/10/12 06:47 AM
On his recent "Immense Possiblities" show, "Pushing Back Against Foreclosure" aired 12/7/2012 on Southern Oregon Public Television, Jeff Golden talks with us about some of the events that led up to the National Mortgage Settlement - namely MERS violations - the experiences homeowners have shared, and solid guidance toward solutions. In a recent report published by HUD about the outcomes of housing counseling, it was clear that homeowners seeking the guidance of a Housing Counselor are more likely to find alternatives to foreclosure. Of the counselees, 69% found a mortgage remedy and 56% were able to bring their mortgages current. After … (0 comments)
independent foreclosure review: Help for Borrowers – Independent Foreclosure Review
- 03/20/12 05:24 AM
The Office of Comptroller of Currency and Federal Reserve created a process to help borrowers who were facing foreclosure in 2009 or 2010 with several servicers. This process will help these borrowers who believe they suffered financial injury as a result of errors in the foreclosure process present their case to an independent third party reviewer. These borrowers have been identified and were sent a Notice with clear instructions how to apply to be reviewed. The borrowers’ greatest chance of obtaining financial restitution will be a clearly documented, supported paper trail they can provide to the independent third party reviewer. Situations … (0 comments)
Loving the challenge of a career in mortgage|real estate since 1983, keeping up with the progression of changes in this industry keeps one on their toes. What doesn't kill us makes us stronger, right? Here's to a few more decades of strength building!
The process for handling homeowners who experienced wrongful foreclosure and deficient mortgage servicing practices - i.e. Robosigning, foreclosure going through on a mortgage that was not in default, foreclsoure for servicepersons protected by poor handing of loss mitigation requests, etc. - changed a LOT with 13 major servicers. It went from requiring application and review by potentially 3.8 million homeowners seeking restitution for there practices, to 13 named servicers self-directing the restitution and reaching out to 4.2 million homeowners.
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