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Ohio Foreclosure Lawsuits Dog Lenders

Recent activity in Ohio foreclosure litigation

June 18, 2012

By SAM GARCIA Mortgage Daily


portrait of Sam Garcia

The Buckeye State continues to be tough on mortgage servicers, with courts frequently ruling for borrowers in foreclosure litigation. However, lenders are having some luck at the appellate level.

A review last year by Mortgage Daily found that the worst state for mortgage investors was Ohio. The findings were based on a combination of legislative and other government actions taken in attempts to hinder recovery through the foreclosure process. One big factor was foreclosure cases lost by lenders.

The report cited former Ohio Attorney General Richard Cordray -- now the director of the Consumer Financial Protection Agency -- for actions he took against GMAC Mortgage LLC and HomEq Servicing.

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Related:
Ohio Worst State for Mortgage Investors
The federal government has gone to great lengths to protect the less than 5 percent of borrowers who haven't been making mortgage payments at the expense of mortgage investors and the other 95 percent of current and future borrowers who will end up subsidizing the delinquents. As if that weren't enough to hurt investor demand, some individual states have gone to great lengths to delay or block lenders from enforcing their liens -- and Ohio is the biggest culprit.


Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.



Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Prior to his news career he worked in mortgage lending for two decades.

e-mail:
SamGarcia@MortgageDaily.com


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