Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook

loan modification

Hope LoanPort Collaborates With the Lawyers' Committee for Civil Rights Initiatives

HOPE LoanPort Logo

Hope LoanPort (HLP) has announced that they have begun a collaboration with the Lawyers’ Committee for Civil Rights Under Law to share information specific to entities representing consumers in pursuit of a foreclosure alternative. HLP has also become a member of the Loan Modification Scam Prevention Network to assist consumers in avoiding foreclosure rescue fraud.Click to continue

Nearly 770,000 Homeowners Granted Loan Mods in 2013


HOPE NOW released its final 2013 loan modification data, which shows that approximately 768,000 homeowners received permanent, affordable loan modifications from mortgage servicers in 2013. The reported data for December shows that, for the year, mortgage servicers completed approximately 592,843 proprietary loan modifications for homeowners and 175,076 Home Affordable Modification Program (HAMP) modifications (as reported by US Treasury Department). December data also showed approximately 281,000 short sales completed for the year.Click to continue

Total Loan Mods for the Year Exceed 680,000 in October

Foreclosure Crooked Sign Pic

HOPE NOW has released its October 2013 loan modification data which finds that an estimated 50,000 homeowners received permanent, affordable loan modifications from mortgage servicers during the month of October. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP). The total number of loan modifications for 2013 currently stands at approximately 680,000. This compares to approximately 545,000 foreclosure sales reported for the year to date.Click to continue

Ally Fulfills Nationwide Mortgage Settlement Requirement


Joseph A. Smith Jr., Monitor of the National Mortgage Settlement, has filed a report with the Federal District Court for the District of Columbia that certifies that Residential Capital LLC, Ally Financial Inc. and GMAC Mortgage LLC (collectively known as "Ally") have satisfied their consumer relief obligations and partially certifies completion of Ally’s mandatory solicitation requirements under the settlement.Click to continue

Proprietary Loan Mods Jump 43 Percent in July


HOPE NOW has released its July 2012 loan modification data. An estimated 66,002 homeowners
received permanent, affordable loan modifications via proprietary programs from mortgage servicers during the month. This represents a 43 percent increase in proprietary loan modifications over the previous month (46,208). The reported data does not include loan modifications completed under the Home Affordable Modification Program (HAMP) for the month of July. That data has not yet been reported by U.S. Department of the Treasury for the month.Click to continue

Landmark $25 Billion Servicing Agreement Filed in Federal Court

Black Gavel Pic/Credit: Brand X Pictures

The U.S. Department of Justice (DOJ), the U.S. Department of Housing & Urban Development (HUD) and 49 state attorneys general have announced the filing of their landmark $25 billion agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. The federal government and state attorneys general filed in U.S. District Court in the District of Columbia proposed consent judgments with Bank of America Corporation, J.P. Morgan Chase & Company, Wells Fargo & Company, Citigroup Inc.Click to continue

Four Florida Men Arrested in Foreclosure Rescue Scam


Christopher S. Godfrey of Delray Beach, Fla.; Dennis Fischer of Highland Beach, Fla.; Vernell Burris Jr. of Boynton Beach, Fla.; and Brian M. Kelly of Boca Raton, Fla. have been arrested on charges that they defrauded homeowners in Massachusetts and elsewhere in connection with a home loan modification scam, announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division, U.S. Attorney Carmen M. Ortiz for the District of Massachusetts, and Christy L.Click to continue

California AG Brown Calls on Banks to Stop Foreclosures in California


Following his office's negotiations with the state's top loan servicers and the recent announcement by Bank of America that it is temporarily halting foreclosures nationwide, California Attorney General Edmund G. Brown Jr. has called on the state's other lenders to halt foreclosing on California homes until the banks can demonstrate that they are complying with state law.Click to continue

California AG Brown Files Suit Against Fraudulent Forensic Loan Mod Scammers

Black Gavel Pic/Credit: Brand X Pictures

California Attorney General Edmund G. Brown Jr. has filed a $60 million lawsuit against a pair of Sacramento, Calif.-based companies that lured desperate homeowners with a deceptive marketing scheme that promised to obtain mortgage modifications through the use of computer-generated "forensic loan audits."Click to continue