Mortgage Servicer

A mortgage servicer is a company to which some borrowers pay their mortgage loan payments and which performs other services in connection with mortgages and mortgage-backed securities. The mortgage servicer may be the entity that originated the mortgage, or it may have purchased the mortgage servicing rights from the original mortgage lender.
Posts about Mortgage Servicer
  • Hurricane Harvey and your Mortgage Payments

    … payments owed to lenders. Failure to timely make your payments will result in consequences. 2. The good news is that you can request help by contacting the individual companies. Many may offer assistance. If you have a federally backed mortgage, there may be specific programs available to help (contact your mortgage servicer for details). 3. You…

    Dove Bankruptcy Law- 29 readers -
  • USFS Settles Crisis Era False Claims Act Mortgage Fraud Case

    … that are guaranteed by the government. Today, most home loans are sold immediately after closing. Investors won’t buy those loans unless guaranteed. The FHA, VA, Fannie Mae, Freddie Mac and a few private insurers offer these guarantees. Because Fannie and Freddie are under a government conservatorship, most loans are today backed by taxpayers. Lenders can issue…

    Due Diligence- 19 readers -
  • INVESTIGATION: Clayton Homes, Vanderbilt Mortgage, 21st Mortgage

    … was part of Vanderbilt. this was not disclosed to me.” New Mexico: “I have a mobile home with Vanderbilt Mortgage. In 2014 about $5000 was added to my billing statement as ‘service fees.'” The customer goes on to say that the customer can’t get an explanation and made all monthly payments. Colorado: “I purchased a manufactured home which…

    Due Diligence- 19 readers -
  • Possible Solutions if Your Mortgage is in Default

    … A mortgage default occurs when your mortgage goes unpaid for a period of time or if less is paid than the amount due. A default is not the same as a foreclosure, but your mortgage lender can choose to begin the foreclosure process allowed by Missouri mortgage laws if your mortgage remains in default. A mortgage that is in default can become very… 15 readers -
  • Standing and the Possession of Original Loan Documents in a New York Foreclosure

    … and note, as all interaction is with the mortgage servicer. A mortgage servicer is the party contracted by the owner, under a Pooling and Servicing Agreement[3] (PSA), to manage the loan, including, send statements, collect and apply payments, run the escrow analysis, make tax and insurance payments, and engage in loss mitigation if the borrower falls behind…

    Ronald D. Weiss, PC- 31 readers -
  • Home Preservation Companies: Friend or Foe?

    … simply walking away from their underwater homes since the beginning of the Great Recession of 2008, mortgage companies and servicers have begun hiring “home preservation companies” in greater numbers. These are independent companies that are hired by the mortgage servicer to enter a home that has been or will be foreclosed upon for the purpose…

    Bond and Botes- 27 readers -
  • Options for the Distressed Florida Homeowner

    … consideration for modification. There is "no requirement to use principal reduction" under this program but "servicers may forgive principal to achieve" a certain monthly debt service to gross monthly income target. 3. Participate in Florida Circuit Court Foreclosure Actions A person who has been served with a mortgage foreclosure action should…

    Miami Bankruptcy Law Blog- 14 readers -
  • Witness Prepping or Witness Tampering?

    … witnesses in a foreclosure case. The lawyer he accused isn’t just any lawyer, he is a lawyer that represented embattled mortgage servicer Ocwen. This author personally believes that Ocwen is one of the sleazyist companies in the financial services industry. The company has been sanctioned several times by regulators. Never did we believe, however…

    Legal Malpractice - Chris Trebatoski- 26 readers -
  • Mortgage Servicers and the Need for Whistleblowers

    … collects payments on behalf of the banks and trusts that own the loans. The servicer also maks sure that homeowners insurance remains current and that property taxes are paid. Once, many banks handled these functions internally but the advent of large mortgage pools and mortgage backed securities resulted in the creation of a new industry, nonbank…

    Due Diligence- 17 readers -
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