Foreclosure Fraud Settlement Updates

This is from Dayen at FireDogLake, full post here: Another element of the foreclosure fraud settlement kicking off in the next several weeks are the servicing standards: After failing to adhere to at least two separate sets of servicing guidelines since 2010, lenders are preparing for more than 300 rules that take effect next month on […]

GMAC Mortgage Creditors May Need to File Proof of Claim in ResCap Bankruptcy, Says BK Notice

There have been notices sent to homeowners with GMAC mortgages to file Proofs of Claim before the deadline coming up.  I’ll scan and post a redacted one tomorrow because it gives the information for filing deadlines, etc. Here’s Matt Weidner on the GMAC opposition to the formation of a homeowner’s committee in the ResCap bankruptcy. […]

Victory for Consumer Debtors in Kentucky: Ocwen Bullied Debtors Into Forbearance Agreements

From the National Consumer Bankruptcy Rights Centerblog: In a victory for consumer debtors, the Bankruptcy Court for the Eastern District of Kentucky disallowed Ocwen’s proof of claim for late fees and charges, and awarded judgment, including punitive damages in the amount of $25,000.00, in favor of the debtor due to Ocwen’s “gross reckless[ness]” in accounting and […]

Foreclosure Fail

Foreclosure Fail: Study Pins Blame on Big Banks by Paul Kiel ProPublica, Sept. 11, 2012, 1:35 p.m.Answers to homeowners’ questions about the Independent Foreclosure Review.The administration’s website for the foreclosure prevention program. Provides an FAQ, homeowner examples, and other tools to see whether you might qualify for the program.A list of HUD-approved housing counseling agencies […]