News & Analysis as of September 22, 2024

Home Affordable Modification Program

+ Follow

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -

Real Property, Financial Services, & Title Insurance Update: Week Ending November 15, 2019

Carlton Fields on 12/4/2019

Real Property Update - Foreclosure / Notice: Mail log sufficient evidence to establish mailing of notice to borrower of default and possibility of foreclosure – Stacknik v. U.S. Bank, N.A., No. 2D18-2156 (Fla. 2d DCA Nov....more

Part III: Navigating the Maze of Servicing Discharged Debt

Bradley Arant Boult Cummings LLP on 3/20/2019

Part III: Modifications Post-Discharge - Welcome to Part III of our series on the servicing of discharged mortgage debt. This part will discuss modifying a borrower’s loan after a discharge. (If you missed Part I or Part...more

Mortgage-Loan Modification Scam Ends with Serious Consequences

Bradley Arant Boult Cummings LLP on 9/16/2016

A California man that operated as a high-level sales executive for a fraudulent residential mortgage-loan modification scheme will now spend several years in jail. From 2009 to 2016, Mehdi Moarefian (aka Michael Miller)...more

CFPB Issues Guiding Principles for Loss Mitigation after HAMP

Morrison & Foerster LLP on 9/6/2016

On August 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) published a new guidance document titled CFPB’s Principles for the Future of Loss Mitigation (the “Guidance”), which outlines a recommended framework for...more

CFPB outlines future principles for loss mitigation

Ballard Spahr LLP on 8/4/2016

Looking forward to a post-financial crisis and post-HAMP mortgage marketplace, the CFPB has issued a document outlining principles intended to “provide a framework for discussion about the future of loss mitigation.” The...more

CFPB Highlights Mortgage Servicing Examination Findings and Technology Issues

Ballard Spahr LLP on 7/8/2016

In an unmistakable warning shot to mortgage servicers, the CFPB recently issued a “Mortgage Servicing Special Edition” of its Supervisory Highlights. The CFPB also updated portions of its Mortgage Servicing Examination...more

CFPB Highlights Mortgage Servicing Examination Findings and Technology Issues

Ballard Spahr LLP on 7/1/2016

Borrowers Don’t Have Private Right of Action Under HAMP but May Pursue New Jersey State Law Claims

Blank Rome LLP on 4/17/2015

Action Item: To avoid possible state law claims related to denial of loan modifications, trial modification offers should clearly define the requirements a borrower must fulfill to receive a loan modification, and lenders and...more

California District Court Denies Certification Where Putative Class Members Lack Standing and Plaintiff Fails to Conduct Extensive...

Carlton Fields on 11/26/2014

The United States District Court for the Eastern District of California recently denied class certification in a case alleging wrongdoing by a loan servicer in connection with the Home Affordable Modification Program...more

Ninth Circuit Opens Door for Protracted HAMP Litigation

Snell & Wilmer on 8/16/2013

Earlier this month, the Ninth Circuit reversed a lower court’s dismissal of two consolidated class action complaints, holding that mortgage servicers participating in the Home Affordable Modification Program (HAMP) are...more

10 Results

View per page

Page: of 1

Loan Modifications › Mortgage Servicers › Home Affordable Modification Program

"My best business intelligence, in one easy email…"