MICHAEL CORKERY, NY Times New York State’s top banking regulator is raising questions about the capabilities of the mortgage servicing firm Nationstar Mortgage Holdings, demanding details about the company’s staffing levels, modification procedures and affiliated businesses. In a letter to Nationstar on Wednesday, the regulator, Benjamin M. Lawsky, superintendent of financial services, said his office had received […]
Amy Loftsgordon, Nolo Dual tracking occurs when a mortgage holder continues to foreclose on a homeowner’s home while simultaneously considering the homeowner’s application for a loan modification. In the past, dual tracking was common. However, new rules issued by the Consumer Financial Protection Bureau (CFPB) as well as various state laws and the National Mortgage Settlement (NMS) […]
Hedge Funds Unlikely Saviors for New York-Area Homeowners Prashant Gopal, Bloomberg Louis Ragusa, who hasn’t paid his mortgage in two years, says he now has a chance to save his Blackwood, New Jersey, home from foreclosure after a hedge fund bought the loan. American Homeowner Preservation, a Chicago-based investment firm, purchased the mortgage for less than half […]
David J. Reiss or the Brooklyn Law School Wrote An Interesting Analysis Of The Fannie/Freddie Conservatorship David J. Reiss or the Brooklyn Law School Wrote An Interesting Analysis Of The Fannie/Freddie Conservatorship. You may have never heard of Professor David J. Reiss or the Brooklyn Law School. We have and it’s a probably one of the […]
NY AG Lawsuit Opens Up Wells Fargo Foreclosure Manual The Wells Fargo Foreclosure Manual used for committing foreclosure fraud has gotten the attention of New York Attorney General Eric Schneiderman and New York State Banking Regulators and now they want to talk to Wells Fargo executives. Schneiderman and three major regulators are now investigating allegations made […]
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