Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Real Time Economics
Economic insight and analysis from The Wall Street Journal.

List of Banks’ Progress on Loan Modifications

The Treasury Department released  the first monthly progress report on its plan to aid homeowners through loan modifications.

The report found that just 9% of homeowners eligible for the program have received trial modifications. The Treasury also released a breakdown of modifications, by loan servicers. The following sortable chart lists the firms with the most eligible loans that are delinquent for 60 days or more.

Servicer   Estimated Eligible Loans   Offers Extended   Offers as Percent of Eligible   Mods Started   Mods as Percent of Eligible   
Bank of America796,46799,64913%27,9854%
J.P. Morgan Chase Bank394,075117,25930%79,30420%
Wells Fargo Bank329,08538,67312%20,2196%
CitiMortgage185,41838,67321%27,57115%
Saxon Mortgage Services84,13030,81737%21,13025%
Aurora Loan Services72,83825,96536%15,32021%
Wachovia Mortgage, FSB62,8522,0283%1,3562%
GMAC Mortgage61,32620,92434%12,54020%
Select Portfolio Servicing57,45011,40420%1,8493%
Ocwen Financial Corporation55,5166,50212%2,5175%
National City Bank37,126920%40%
Home Loan Services33,19300%00%
Nationstar Mortgage25,69011,44345%4,85419%
Carrington Mortgage Services14,1289887%5974%
Green Tree Servicing5,2284519%2094%
Bayview Loan Servicing4,4252255%1483%
CCO Mortgage3,81840211%2376%
Wilshire Credit Corporation3,41162118%201%
RG Mortgage Corporation3,309722%00%
Residential Credit Solutions1,30430123%26520%
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LittonLoanServicing

Mortgage Orb: Content / Mortgage Servicing / Litton Loan Servicing Joins HAMP

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i guess maybe you noticed ... litton is not ...on that list...
litton does NOT do loan modifications..

litton loan is prevented from modifying a loan by law.
forbearance agreement.. yes.. or anything that increases the payment they keep as profit,
litton is a debt collector/ not an agent of the lender

contrary to what MR gibberish himself [larry liar litton jr]
lying to the senate sub-committee in august-08
we... are helping homeowners that are in need of assistance with lowering loan payments or...bla bla bla...all bs

as the judge stated to larry in court re; litton accounting statments ...
judge-this is gibberish..
larry- your honor ...we dont deal in gibberish.
..hahahaha oh paaaleeeeze

hey larry... i have your gibberish hanging ... waiting for you to hug


i know litton .. maybe better than anyone else at this forum.
litton is the original stain of servicing
1st- vacuum homeowner of all $$$
2nd- vacuum homeowner of all equity
3rd - hose throughly repeat as necessary
4th - rinse

i will find a way to return the disservice litton
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Cookin'

Problems with a Loan Modification: 10 POINTS TO CONSIDER

SUBMITTED BY NY

Problems with a Loan Modification:

  1. The borrowers will think they are modifying their current loan when in fact they are starting all over again.
  2. The Foreclosing entity which lacks standing to bring lawsuit, is not authorized to modify anything since they are not the owner of the loan in question.
  3. Since the real parties in interest are no where to be found, they are taking it upon themselves with the help of their lawyers to steal your property.
  4. The borrower is actually getting a new loan which may enjoin borrower from rescinding new transaction.
  5. The foreclosing entity is STILL not using their own funds to modify (new loan) loan. They are getting funds to lend borrowers through Federal bail outs, insurance proceeds and believe it or not Investors. [same process]
  6. Their lawyers are not acting in a lawyer’s capacity but as BROKERS; [middlemen] they are getting paid commission on every new loan they help brokered.
  7. What Does Loan Modification Mean?
    A modification to an existing loan made by a lender in response to a borrower’s long-term inability to repay the loan. Loan modifications typically involve a reduction in the interest rate on the loan, an extension of the length of the term of the loan, a different type of loan or any combination of the three. A lender might be open to modifying a loan because the cost of doing so i
    s less than the cost of default.
  8. Why would they need to re-qualify if they claim they would make the borrowers payments and rates to be less?
  9. The borrower took the loan out with lender “A” but an unknown lender “B” is trying to modify it.
  10. When the modification is said and done, the borrower will have lender “B” as the lender. What happened to lender “A”???
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Geeze
But Litton still is trying to work on my modification

Well, they have been working on it for almost 4 months now...yeah, right...
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