Ocwen Accused of Backdating Borrower Letters
Ocwen Financial Corp. has been accused of serious issues in its servicing practices including potentially backdating hundreds of thousands of borrower letters.
GSE Mods Ok On FL Loans Delinquent Over 2 Years
Florida borrowers who are more than two years past due on their government-sponsored enterprise mortgages will have an opportunity to modify their loans.
Proprietary Modification Volume Up, HAMPs Slip
An increase in the number of monthly proprietary loan modifications completed more than offset a reduction in the number of government-supported modifications.
Servicing Rules Allegedly Violated in CFPB Action
Regulatory action has been taken in the case of a residential loan servicer that allegedly violated mortgage servicing rules with the way it handled loan modifications.
Loan Modification Activity Fades
The volume of mortgage loan modification activity was down on a month-over-month basis and tumbled on a year-over-year basis.
Proprietary Activity Drives Rise in Loan Modifications
The monthly volume of loan modifications that were completed edged up, though not much. The gain might have been stronger if it weren't for drop in government-supported activity.
PHH Challenging Huge Award in Modification Lawsuit
A PHH Corp. mortgage unit is challenging a huge jury verdict in a lawsuit alleging that it botched a loan modification for a California borrower.
Former Fannie IT Employee Admits Sabotaging HAMP
A former employee of the Federal National Mortgage Association has admitted to accessing company computers after he was fired and sabotaging the website for loan modifications.
Modification Activity Continues to Wind Down
With more home loans moving out of the distressed category and the country's collective home-equity position improving, mortgage servicers are completing fewer loan modifications.
SunTrust Settlements Surpass $1 Billion During Past Month
A second settlement in the past 30 days between SunTrust Mortgage Inc. and the U.S. government brings to more than $1 billion the amount it has agreed to pay to resolve allegations of poor lending practices. The latest agreement addresses mishandled modifications.