The 2011 Mortgage Servicers Outlook published mid-December by Moody’s predicts more troubles ahead for servicers regarding irregularities in foreclosure practices and documentation. More scrutiny of the irregularities banks have recently been under fire for could allow for definition of just … Continue reading
DS News.com Wells Fargo reached an assurance agreement with California Attorney General Edmund G. Brown Jr., to provide loan modifications worth more than $2 billion to thousands of California homeowners with “pick-a-pay” loans originated by World Savings and Wachovia, banks … Continue reading
Starting January 31, the Federal Trade Commission has banned consulting firms from charging up-front fees for negotiating modifications of residential mortgage loans. In Nevada, the Mortgage Lending Commissioner said the constraints of the federal rule “will have substantial impact” on … Continue reading