homeowner Tag

Mortgage Claims Deutsche Bank

Mortgage Claims Against Deutsche Bank Not Barred by Failed-Bank Law

Can homeowners whose original mortgage bank failed sue the new owner of their mortgage for the original bank’s wrongdoing? Yes, according to a recent decision from the Massachusetts Appeals Court, Starkey v. Deutsche Bank. The case involved a relatively complicated statutory issue related to the Financial...

wrongful foreclosure astoria bank

Wrongful Foreclosure Lawsuit to Proceed Against Astoria Bank

A Massachusetts homeowner’s claim for wrongful foreclosure is being permitted to proceed in federal court, despite banks attempt to dismiss the case. The homeowner claimed that the company who owned and serviced his mortgage, Astoria Bank, committed fraud and violated the Massachusetts Consumer Protection Act by...

Ocwen Mortgage Massachusetts

Ocwen Ordered to Cease Mortgage Operations in Massachusetts

Ocwen, one of the largest mortgage servicers in the country, faces regulatory action from both the state and federal levels for “failing borrowers at every stage of the mortgage servicing process,” including mishandling mortgage accounts and botching loan modifications. The federal Consumer Financial Protection Bureau sued...

loan modification standards 2017

New Loan Modification Standards to Take Effect Later This Year

Banks and mortgage servicers are expected to use new standards when providing loan modifications to homeowners with delinquent mortgages, according to a proposal from the Mortgage Bankers Association, the main industry group for mortgage banking. Under the program, homeowners’ monthly mortgage payments will be reduced by...

Freddie Mac Principal Reduction

Freddie Mac Gives More Guidance On Principal Reduction Modifications

Mortgage giant Freddie Mac had for a long time offered no loan modifications that included a principle reduction. That changed when Freddie Mac announced a Freddie Mac Principal Reduction Modification in April 2016. Freddie Mac has now announced new support for these loan modifications. The Principal Reduction...