National Mortgage Settlement

National Mortgage Settlement: Overseer Praises Whistleblower for Reporting Ocwen Financial ‘Deficiencies’

The overseer of the National Mortgage Settlement said that Ocwen Financial Corp., one of the largest U.S. servicers of home loans, has failed to produce reliable information about its practices and he has hired ...
ocwen-financial-office

N.Y. Regulator: Ocwen Backdated Denial Letters to Homeowners Seeking Mortgage Modifications

Ocwen Financial, one of the largest U.S. mortgage servicers, wrongfully denied hundreds of thousands of borrowers mortgage modifications, many of them seeking to prevent foreclosure, New York’s financial regulator ...
fannie_freddie

Fannie, Freddie Not Moving Fast Enough to Help Distressed Homeowners, Advocates Say

Homeowner advocates say that the Federal Housing Finance Authority, the independent U.S. agency that oversees mortgage giants Fannie Mae and Freddie Mac, is taking to long to help the most-troubled borrowers reduce ...
bank-america-fannie-freddie

Big Bank Fines Over Bad Mortgages, Practices Total $128 Billion Since 2009, But Is That Too Little?

Bank of America is on the verge of finalizing a reported $17 billion settlement with the U.S. government over the packaging and selling of bad mortgages, and it would be the biggest single hit taken by a big bank ...
National Mortgage Settlement

National Mortgage Settlement: Monitor Says Banks Complete Consumer Relief Requirements

The overseer of the National Mortgage Settlement says the remaining four top lenders under the agreement — Bank of America, Chase, Citi and Wells Fargo — have satisfied their consumer relief and refinancing ...
federal income tax return

Are 2013 Payouts from Foreclosure Settlements Taxable? IRS Addresses Murky Issue

An estimated 5 million borrowers in 2013 received payouts from two huge settlements with the biggest banks over alleged foreclosure abuses or mortgage-aid deficiencies since the housing meltdown of 2007-2008. The ...
joseph-smith2

Mortgage Settlement Monitor: Banks Need to Regain Customers’ Trust

The big U.S. mortgage servicers are still failing to completely hold up their end of the deal known as the National Mortgage Settlement, which aims to provide new protections for delinquent borrowers who may face ...
foreclosure-filing

Massachusetts Prohibits Foreclosing During Mortgage Modifications

Homeowners in Massachusetts have gained new protections against unfairly losing their homes, including a regulation that prevents national and state lenders from foreclosing if an application for a loan modification ...
national-mortgage-settlement

Mortgage Settlement Monitor: Bank of America Complying at Fastest Pace

Bank of America has moved at a faster clip than Wells Fargo, JPMorgan Chase and Citigroup in meeting obligations to help borrowers facing possible foreclosure under last year’s $25 billion National Mortgage ...
mary-kissel

Mind-boggling: Pundit Says No Homeowners Were Wrongfully Foreclosed

Two huge settlements with the biggest U.S. banks — dubbed the National Mortgage Settlement and the Independent Foreclosure Review — involved millions of wronged homeowners thrust into foreclosure. But ...
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