Litton Loan Servicing Class Action Settlement

Litton Loan Servicing Class Action Settlement

The law firms, Kessler Topaz Meltzer & Check, LLP, Berger & Montague, P.C., and Lowey Dannenberg Cohen & Hart, P.C., announced today that a settlement in a class action has been reached with Litton Loan Servicing LP, The Goldman Sachs Group, Inc. and/or Arrow Corporate Member Holdings LLC. (more…)

Ocwen and NAACP to Host Hope & Help for Homeowners Event in Delray Beach, FL

Ocwen and NAACP to Host Hope & Help for Homeowners Event in Delray Beach, FL

Florida homeowners with an Ocwen mortgage who need help with their loans can get free assistance on Saturday, June 4 in Delray Beach, Florida.

The event is being help by the Florida State Conference of NAACP Branches, along with Ocwen Financial Corporation. It will be the first Help & Hope for Homeowners event to offer borrowers in Palm Beach County and the surrounding areas the opportunity to meet with Ocwen Home Retention Agents and U.S. Department of Housing and Urban Development (HUD)-approved financial counselors to explore loan modifications and other options to make their homes more affordable. (more…)

Home Prices Rise in Many States for March 2016

Home Prices Rise in Many States for March 2016

Home prices continue to rise in many housing markets across the U.S. according to new data released for March 2016 by the S&P/Case-Shiller Home Price Indices, and Black Knight Financial Services. House price growth has been particularly strong in recent years, averaging 5.6 percent annually according to the Federal Housing Finance Agency.

The S&P/Case-Shiller U.S. National Home Price Index, reported a 5.2% annual gain in March, down from 5.3% in April. Black Knight had said home values were up 1.2 Percent for the month of March, and 5.3% from this same time last year. (more…)

Nearly $40 million awarded through National Foreclosure Mitigation Counseling program to help more than 122,000 families

Nearly $40 million awarded through National Foreclosure Mitigation Counseling program to help more than 122,000 families

“Demand for funding is twice the money available”

Washington – NeighborWorks America today announced that nearly $40 million has been awarded to 21 state housing finance agencies (HFAs), 19 HUD-approved housing counseling intermediaries, and 60 community-based NeighborWorks organizations to provide counseling to families and individuals facing the threat of foreclosure. (more…)

Senator Reed Announces Additional $650k in Foreclosure Prevention Funds for Rhode Island

Senator Reed Announces Additional $650k in Foreclosure Prevention Funds for Rhode Island

PROVIDENCE, RI – U.S. Senator Jack Reed today announced that Rhode Island will receive an additional $629,160 in federal funding to continue providing housing counseling to struggling Rhode Islanders through NeighborWorks America’s National Foreclosure Mitigation Counseling (NFMC) program.  This funding is in addition to $703,000 in NeighborWorks grants that Rhode Island received in March, bringing the state’s total to over $1.3 million this year.  (more…)

Wells Fargo Agrees to Pay $70 Million Fine for Mortgage Servicing Abuses

Wells Fargo Agrees to Pay $70 Million Fine for Mortgage Servicing Abuses

Wells Fargo & Co. has agreed to pay $70 million to the U.S. Treasury as a civil penalty for mortgage servicing violations.

The Office of the Comptroller of the Currency (OCC) also terminated its mortgage servicing-related order against Wells Fargo after determining the bank is in compliance with the order. The termination lifts the June 2015 OCC imposed business restrictions, which includes providing or offering remediation to borrowers who received an incorrect loan modification denial. (more…)

Black Knight: Lowest Number of Foreclosure Starts in 10 Years & Delinquencies Are Up

Black Knight: Lowest Number of Foreclosure Starts in 10 Years & Delinquencies Are Up

Black Knight Financial Services released its April 2016 national mortgage statistics showing that foreclosure starts were at 58,700, which was the lowest level since April 2006.

The number of active foreclosures went below 600,000 for the first time since 2007.

However, the mortgage delinquency rate was 3.77% higher than the previous month, but still 10 percent lower than this same time last year.

Black Knight April 2016  

(more…)