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Nation’s Largest Servicers Falsify Records to Delay Modifications

May 30, 2018 by d wood Leave a Comment

In a congressional letter dated June 18, 2013, we learn the details of how the nation’s largest servicers instructed their employees to “falsify records and delay U.S. loan assistance applications by requesting paperwork that the (bank) had already received.” Congresswoman Maxine Waters

The goal of the delay, according to a Bloomberg article https://bloom.bg/2I9j0eu, was to ensure that instead of homeowners receiving a HAMP modification, they would be foreclosed upon. Ms. Waters notes numerous studies concluding how foreclosure is often a profit center for servicers.

A quote from the article: “There were people who did everything right, and they would still get screwed over” —Daniel Ellersdorfer

Visit HAMP Website: https://www.hmpadmin.com/portal/index.jsp

Filed Under: Judicial Foreclosure state, TILA, Truth In Lending, Uncategorized Tagged With: HAMP

Judge Says No Foreclosure Until Suit Resolved

May 23, 2018 by d wood Leave a Comment

“A Massachusetts judge has ordered Ameriquest Mortgage Co. to halt a $715 monthly increase in a Cape Cod couple’s March payment and to refrain from foreclosing on their property until a lawsuit over the mortgage is resolved.” -Read the Full Article-  https://bit.ly/2I7jNwh

STOP FORECLOSURE

Filed Under: Fraudulent Assignment, TILA, Truth In Lending, Uncategorized Tagged With: stop foreclosure

Do You Have a Mortgage Loan Error?

May 16, 2018 by d wood Leave a Comment


Do You Have a Mortgage Loan Error?

Our President and Founder, Marie McDonnell, has been a Certified Forensic Fraud Analyst for more than 30 years. During her time helping homeowners across the country, she has held a front row seat to every mortgage crisis that has struck our economy. The same problems from decades ago still haunt our mortgage banking system today and homeowners remain vulnerable to lender malfeasance. With the inevitable dismantling of the Consumer Financial Protection Bureau (CFPB), The Truth In Lending Act of 1968 https://bit.ly/2I7Q5aF may be the last bastion of hope to help save the American dream of buying and owning a home.

This article is a reminder of an old problem that remains prevalent today: “A Milton, MA man had been making his mortgage payments on time when out of the blue, he got a letter from the lender saying he needed to pay an additional $4,000 or his home would be foreclosed.”
– Read the Full Article- Problems With Bank Errors

 

Filed Under: Forensic Mortgage Audit, TILA, Uncategorized Tagged With: forensic accounting, mortgage error, mortgage fraud, TILA, truth in lending

Judicial vs NonJudicial Foreclosure

December 14, 2016 by d wood Leave a Comment

Pasadena City Hall building sign detail in southern California.

DO YOU UNDERSTAND WHICH FORECLOSURE YOU’RE FACING?

There are two types of foreclosures — judicial and nonjudicial. A judicial foreclosure goes through court. A nonjudicial foreclosure does not.  Some states require that all foreclosures be judicial; others set forth procedures for nonjudicial foreclosures. Whether a foreclosure is judicial or nonjudicial is significant-  it affects the foreclosure process and procedures, how you can raise defenses, and often whether you’ll be liable for a deficiency after the foreclosure sale. Read the full article at Nolo

 

Filed Under: Uncategorized

FREE REPORT

RESPA To The RESCUE!
How To Stop Foreclosure With A Notice Of Error

What can you do when the company servicing your mortgage loan has refused to listen to your complaints, denied your application for loss mitigation relief, and scheduled a foreclosure sale that is only a matter of weeks away?  Don’t panic! There is power in your pen if you know how to write a “Notice of Error” that conforms to the requirements of the Real Estate Settlement Procedures Act (“RESPA”) and its implementing Regulation X.

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Recent Posts

  • Nation’s Largest Servicers Falsify Records to Delay Modifications
  • Judge Says No Foreclosure Until Suit Resolved
  • Do You Have a Mortgage Loan Error?
  • Judicial vs NonJudicial Foreclosure

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CODE OF ETHICS & CREDENTIALS

I, Marie McDonnell, am the President and Chief Executive Officer of McDonnell Property Analytics. … Read More

News

"Foreclosure filings jumped 27.1 percent nationally from September to October 2016. According to ATTOM Data Solutions, which tracks foreclosures, this is how the 50 states and the District of Columbia ranked for foreclosure filings in October. The national average for foreclosure … Read More

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McDonnell Property Analytics 2017