To access the new Handbook for MHA, inclusive of HAMP and HAFA, click here. While reviewing the Handbook you should be aware of the case of Flagstar Bank v. Walker wherein the Court held that the statutory good faith standard for a CPLR 3408 Foreclosure Settlement Conference is compliance with the Handbook. To review the case, click here.
This Handbook is the rules for banks / servicers to modify mortgages, so pay careful attention to detail and make sure that they comply.
Bank of America wins as the worst with 27% of all complaints directed at them. Next in line is Wells Fargo, followed by Chase, then Citi, and rounding out the top 5 is Ocwen.
To read a great article in Business Insider giving the specific statistics and some analysis, click here.
Business Insider based its information from data collected by the Consumer Financial Protection Bureau. To visit CFPB, click here.
To read a great article in Business Insider giving the specific statistics and some analysis, click here.
Business Insider based its information from data collected by the Consumer Financial Protection Bureau. To visit CFPB, click here.