Loan production costs are drowning mortgage brokers
Just 32% of loan companies were able to remain profitable in 2022.
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Tag: loan servicer
May a mortgage be assigned to a new loan servicer while it is in default?
Myles v. Pennymac Loan Services, LLC Facts: An owner defaults on a mortgage secured by their...
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Does a loan servicer have a duty to respond to letters challenging loan terms and requesting modification?
Owners sent three letters challenging the validity of the loan terms and requesting modifications to the loan servicer. The loan servicer did not respond to the letters.
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Look out! Transfer of servicing rights may derail short sales
Short sales don’t need another stumbling block. However, an increasing number of short sales are...
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Servicers must assist underwater military members ordered to relocate
This guidance addresses concerns about mortgage servicer practices involving military service...
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Critics demand fewer HARP 2.0 restrictions
Do you personally know any borrowers who received a HARP 2.0 refinance? No (85%, 79 Votes) Yes...
Read MoreNew procedures for the Home Affordable Modification Program (HAMP)
In the spring of 2009, the federal government’s Home Affordable Modification Program (HAMP) had prodigious goals aimed at helping up to four million Americans. Mortgage lenders were instructed to modify loan terms of troubled...
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