National Mortgage Settlement

A series of blog posts with information and analysis regarding the National Mortgage Settlement (NMS), also referred to as the Department of Justice (DOJ) Settlement.

Mortgage Loan Loss Mitigation Application – Financial Ratios – Be Careful

Mortgage Loan Loss Mitigation Application – Financial Ratios – Be Careful: In this video, attorney Jason McGrath, who handles many mortgage dispute and foreclosure matters, discusses an important loss mitigation issue. Persons filling out their mortgage loan loss mitigation applications need to be very aware that the financials they are listing may make or break… Read more »

Wells Fargo Creates Fake Foreclosure Sale Date for NC Property

Wells Fargo Creates Fake Foreclosure Sale Date for NC Property As an attorney who represents many homeowners and other mortgage loan borrowers in mortgage relief, mortgage dispute, and foreclosure cases, I deal with some fairly unusual situations. This current case with Wells Fargo, in which I had a foreclosure hearing this week, well let’s just say that if… Read more »

Principal Balance Reduction Hope for Fannie, Freddie Mortgage Loans?

Principal Balance Reduction Hope for Fannie, Freddie Mortgage Loans? UPDATE ON NOVEMBER 13, 2013 Many of us have been waiting to see if a new Federal Housing Finance Agency Director would amend the Interim Director’s decisions with regard to not allowing principal balance reductions on Fannie Mae and Freddie Mac loans. Of course, first a… Read more »

National Mortgage Settlement & CFPB Monitoring of Loan Transfers

National Mortgage Settlement and the Consumer Financial Protection Bureau’s Monitoring of Loan Transfers Are National Mortgage Settlement defendants transferring mortgage loans to other servicers in an attempt to avoid their obligations under the NMS? As an attorney who represents mortgage loan borrowers and homeowners, I am sensitive to the needs, complaints, and fears of my… Read more »

Why the Independent Foreclosure Review (RIP) Became a Sham

The Independent Foreclosure Review (RIP) Became a Sham  In a fairly shocking development, the Independent Foreclosure Review has now been abandoned and is being “replaced” by other measures related to another mortgage and foreclosure abuse settlement. In addition to obvious flaws in the process, consultants involved in the Independent Foreclosure Review may have made as… Read more »

How BOA Tainted the Allegedly Independent Foreclosure Review

How BOA Tainted the Allegedly Independent Foreclosure Review  The “Independent Foreclosure Review” (may it now rest in peace) was established as a result of a settlement of federal lawsuits against numerous mortgage loan lenders and servicers. The intent was to provide compensation to borrowers who were improperly foreclosed upon. Borrowers were supposed to be able… Read more »

Illegal Foreclosures by Banks in FHA Mortgage Loan Cases?

Are Lenders Improperly Foreclosing in FHA Mortgage Loan Cases? A must read for anyone with an FHA mortgage loan who is facing foreclosure.   A court recently found that Countrywide Home Loans and Recon Trust Company violated Federal Housing Administration (FHA) regulations when it foreclosed but failed to follow FHA rules in doing so. The… Read more »

BOA mortgage loan modification offers – errors & mistakes abound

BOA Mortgage Loan Modification Offers – Errors & Mistakes Abound As an attorney who represents mortgage loan borrowers and homeowners, I see more than my share of mistake-filled Bank of America mortgage loan modification offers. I just reviewed another modification offer from BOA, made to new clients of mine. Almost every modification offer I’ve ever reviewed… Read more »

North Carolina Mortgage Loan Distress – Foreclosures Up 38%

North Carolina Mortgage Loan Distress – Foreclosures Up 38% As an attorney who represents borrowers in mortgage loan disputes, mortgage relief matters, foreclosures cases, and other similar matters, I obviously pay great attention to the trends in foreclosures. Unfortunately, mortgage loan distress for North Carolina homeowners continues to increase, with the amount of foreclosure cases… Read more »

Wells Fargo Again Prosecuted by Federal Government for Mortgage Fraud

The Federal Government has Filed a Civil Mortgage Fraud Lawsuit Against Wells Fargo Bank for Fraud Over Ten Years with Regard to Federal Housing Administration Lending The US Attorney for the Southern District of New York and the US Department of Housing and Urban Development have filed a civil mortgage fraud lawsuit against Wells Fargo… Read more »