Monthly Archives: April 2011

Senators Propose Homeowner Advocacy Act (S.690) for HAMP Grievances

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Although the Treasury Department has vowed to hold mortgage servicers publicly accountable for their adherence to Home Affordable Modification Program (HAMP) guidelines, some senators want to take it one step further. Recent industry expert testimony has revealed that HAMP loan … Continue reading →

Harris interactive Poll: 22% of Homeowners Have Difficulty Making Mortgage Payments

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According to a recent poll from the New York-based market research firm Harris Interactive, 22 percent of people with mortgages have difficulty making their monthly payments, and nearly 7 percent are not making payments or facing foreclosure. The poll also … Continue reading →

Citi Faces Lawsuit Over HAMP Mod Denials

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By: Carrie Bay 04/06/2011 CitiMortgage Inc. has been hit with a class action lawsuit for allegedly denying borrowers a permanent loan modification through the government’s Home Affordable Modification Program (HAMP). The complaint was filed by the law firm of Berger … Continue reading →

The Servicing Mess and Mortgage Lending

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BY BILL BERLINER This column originally appeared in the April 2011 issue of Asset Securitization Report (www.sourcemedia.com) titled “The Servicing Mess and Mortgage Lending”. The outcome of the negotiations between servicers, the group of state Attorneys General and the fledgling … Continue reading →

Fair Housing Investigation Uncovers Corrupt Loan Mod Practices

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By: Heather Hill Cernoch 04/11/2011 Four fair housing organizations have released their findings of a year-long undercover investigation of 80 loan modification companies, which reveal a host of corrupt practices scammers employ to target homeowners in distress. The National Fair … Continue reading →