PHH Accused of Deceiving Distressed Borrowers
PHH Mortgage Corp. has agreed to settle allegations that it misled distressed borrowers about the options available to them.
PennyMac Servicer Rating Raised
An improved process for handling loan modifications and resolved investor reporting issues were among factors that led to an upgrade in the servicer rating for PennyMac Loans Services.
HAMPs Lead Monthly Drop in Modifications
The monthly volume of completed loan modifications took a big hit, with government-supported modifications leading the way. Even year-over-year activity tumbled.
Montana Supreme Court Hears Modification Appeal
The Montana Supreme Court heard an appeal from a couple who was denied a loan modification through the government program and now faces foreclosure.
HAMBS Hit Market
|HAMP Gains Tumble
The monthly gain in permanent modifications for the government loan modification program fell by more than half in the latest report.
Investors of residential mortgage-backed securities will now have the option of buying securities with loans that have been modified through the government-supported loan modification program.
LoanCare Unveils Borrower Complaint Site
LoanCare Servicing borrowers can now lodge complaints through a new consumer-facing customer advocate website. Complaint information is automatically routed to regulators.
Some Servicers Unaware of Valuation Rule
Some mortgage servicers might not be aware that they could be subject to a new rule involving home valuations.
HAMPs Gain as Proprietary Modifications Diminish
The volume of government-supported modifications rose both on a month-over-month and year-over-year basis, while lenders' own proprietary programs saw declines from both earlier periods.