Lender & Sevicer Facts

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Why Aren’t Lenders Doing More Loan Modifications?

Daily, in the newspapers, radio, television and the internet, articles are written about the difficulty that borrowers face in getting loan modifications. At the same time, the Federal Government and the Obama Administration announce new programs to assist homeowners in getting loan modifications. These programs are going to solve the problems that homeowners have, and are going to save their homes. Yet, closer inspection of the program’s details raises. Next, states like California decide to try and pass legislation to prevent homeowners from paying money upfront to loan modification companies and attorneys for assistance in dealing with the Lenders and Servicers. Then, the President even declares that homeowners should not pay for loan modifications and that their lenders and servicers are doing the modifications for free.
Who does a homeowner believe? What is the real truth? This article will attempt to shed some light on the issues. I will focus primarily upon loans that have been securitized.

26Aug2009 | | 9 comments | Continued
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Predatory Servicing and “Questionable” Fees – Countrywide Named in Foreclosure Probe

By Moe How would you like to be charged $20,000 when in fact you owe $2,000? Doesn’t sound like too great of a billing and accounting system. In fact it sounds down right fraudulent and predatory. Welcome to the new unfortunate fleecing of the homeowner that is infiltrating our court systems and robbing unsuspecting borrowers [...]

29Nov2007 | | 4 comments | Continued
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Deutsche Bank Foreclosures Tossed Out of Ohio Federal Court – “They Own Nothing!”

by Moe Bedard and Aaron Krowne Judge Christopher A. Boyko of the Eastern Ohio United States District Court, on October 31, 2007 dismissed 14 Deutsche Bank-filed foreclosures in a ruling based on lack of standing for not owning/holding the mortgage loan at the time the lawsuits were filed.

12Nov2007 | | 12 comments | Continued

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