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  • 00:34

    THE DAILY COMPLAINT (SELENE FINANCE/LOAN TRANSFER/PAYMENT ISSUES/HUD/FTC/RIGHTS)

    in Finance

    TODAY'S SPOTLIGHT:


    SELENE FINANCE BANK OF AMERICA MORTGAGE SERVICING TRANSFER FAILED TO POST PAYMENT FALSE THREATS UNLAWFUL LATE FEES MORTGAGE SERVICER RULES CONSUMER RIGHTS CFPB HUD FTC


    "the daily complaint"


    Every weekday we answer client complaints on The Daily Complaint to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated.  


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on The Daily Complaint and I thank you for your continued support!


    We hope you enjoy the Show...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


     


    Every new beginning comes from some other beginning's END!


    THE DAILY COMPLAINT - LIVE WEEKDAYS AT 8:30 AM PT (CA) & 11:30 AM ET (NY)

  • 00:10

    Legal issues with Second mortgage foreclosing in California

    in Legal

    Can my second mortgage foreclose on me if I am not current on loan payments?


    This is a question my real estate law office hears quite frequently.  The simple answer is YES, your second mortgage or HELOC loan can foreclose on your if you are not current on your loan payments. Your HOA can foreclose on your as well if you have delinquent HOA liens.  So it is important to try to keep these things current so you do not lose your home to foreclosure.  Attorney Steve discusses this topic, and also presents a WARNING TO AVOID A SECOND MORTGAGE SCAM of paying the wrong party.


    Some other important issues to keep in mind are dicsussed on this show, for example:


    1.  The California "one-action rule" (second mortgages suing you on the note before exercising on the "security first"


    2.  Failure of new loan servicer to send you a notice of transfer of loan servicing rights (RESPA)


    3.  Failure to provide notice of change of ownership (for example if someone "buys your note" at a promissory note sale) (


    4.  The need to send FDCPA "debt validation" letters and QWR (Qualified Written Requests to make sure you do not get scammed)


    Listen in to the show for valuable information that might possibly help you save your home from foreclosure and preserve any equity you might have in your property.


    Don't forget to watch our real estate youtube channel for foreclosure videos (make sure to Subscribe by clicking on the Red "V")


     

  • 00:10

    Alvarez v. BAC Home Loans case overview

    in Legal

    Loan Modification Negligence


    When you are trying to fight for your home in the loss mitigation loan modification process, it is no laughing matter.  You are submitting the documents being requested and hoping you will not be "dual tracked" by your loan servicer who is usually servicing your loan on behalf of an often unkown securitized loan trustee, and you wonder if you will get a fair shake, or a real opportunity to save your home.  This real estate podcast talks about what happens when your loan servicer is negligent in handling or reviewing your completed loan modification application.


    Introduction


    One of the legal cases every homeowner should have in their foreclosure prevention toolbox is the case of Alvarez v. BAC Home Loans, LP (Bank of America).  Some of the common things that can go wrong when you submit your financial documents to be consdiered for a loan mod are:


    1. False statements by the loan servicer's representative


    2.  Claiming your documents were never received ("missing tax returns" and "rental agreements" are two common ones)


    3.  Denying you based upon consideration of false information (ex. your income or property value)


    4.  Lies about postponing your foreclosure sale


    There are other types of things that can wrong in the loss mitigation department of large loan servicers such as Nationstar, Ocwen, Wells Fargo, Citimortage, and Bank of America, but this Alvarez case is a very important case that discussed "duty" and "damages" in regard to the tort of negligence against a loan servicer.  Give this real estate podcast a listen with Attorney Steve explaining and defining these important and complex legal topics.

  • 00:33

    THE DAILY COMPLAINT (MORTGAGE SERVICING CRISIS/COMPENSATION INCENTIVES/CFPB NOW)

    in Finance

    TODAY'S SPOTLIGHT


    EXAMINATION OF SYSTEMIC FAILURE DUE TO INCENTIVE COMPENSATION FOR MORTGAGE SERVICERS PROMOTOES FORECLOSURE OVER MORTGAGE ASSISTANCE FOR PURE FINANCIAL GAIN CFPB RIGHTS


    "the daily complaint"


    Every weekday we answer client complaints on The Daily Complaint to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


     


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated.  


     


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on The Daily Complaint and I thank you for your continued support!


    We hope you enjoy the Show...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


    Every new beginning comes from some other beginning's END!


    THE DAILY COMPLAINT - LIVE WEEKDAYS AT 8:30 AM PT (CA)

  • 00:33

    Field Service Compliance – Mingham, Pacific Preservation Services

    in Finance

    CFPB servicing rules not only impact the servicer, but have a significant impact on 3rd party vendors, especially field service providers.   


    Oversight, audits, neighborhood stabilization, management of code violations and property preservation are just a few of the issues servicers and field service providers need to management.


    Standardization and data management appear to be vital to managing an auditable process to reduce risk and remain compliant with evolving legislation. 


    Joining the broadcast today to discuss the impact of compliance and quality control on the field service industry is Brian Mingham, President of Pacific Preservation Services.


    Pacific Preservation Services is a property preservation and inspection company for pre-foreclosure, vacant, and REO properties.


     


    Pacific Preservation Services integrates advanced transactional technology and seamless asset management workflow which has propelled year-over-year sales growth by 34%


     

  • 00:33

    THE DAILY COMPLAINT (WHAT IS DUAL-TRACKING AND WHY SHOULD YOU CARE?/CFPB/RIGHTS)

    in Finance

    TODAY'S SPOTLIGHT:


    WHAT IS DUAL-TRACKING AND WHY SHOULD YOU CARE? AN IN DEPTH LOOK AT THE MORTGAGE SERVICING VIOLATION AND NEW REGULATIONS FORTHCOMING STRENGTHENING PROTECTIONS FOR BORROWERS VIA CFPB RESPA DODD-FRANK KNOW YOUR RIGHTS ASSERT YOUR RIGHTS


    "the daily complaint"


    Every weekday we answer client complaints on The Daily Complaint to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated.  


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on The Daily Complaint and I thank you for your continued support!


    We hope you enjoy the Show...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


     


    Every new beginning comes from some other beginning's END!


    THE DAILY COMPLAINT - LIVE WEEKDAYS AT 8:30 AM PT (CA) & 11:30 AM ET (NY)

  • 00:31

    THE DAILY COMPLAINT (MORTGAGE SERVICER RESPONSIBILITIES/RESPA/CONSUMER RIGHTS)

    in Finance

    TODAY'S SPOTLIGHT:


    MORTGAGE SERVICER RESPONSIBILITIES HUD RESPA DODD-FRANK CONSUMER RIGHTS


    "the daily complaint"


    Every weekday we will be answering client complaints on THE DEBT SHOW to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just scumbags but they can be beat at their own game too just like the big banks can be defeated.  


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on THE DEBT SHOW!


    We hope you enjoy THE DEBT SHOW...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


     


    Every new beginning comes from some other beginning's END!

  • 00:33

    Short Refinances, Everett - Cairn Advisors

    in Finance

    In November, FHA extended the principal reduction loan program for two more years.  The FHA short refinance program was first authorized by Congress in 2008 to assist non-FHA borrowers that are underwater. It has evolved over time and is now being extended through 2016.


    The short refinance is an under-utilized tool for investors who are looking to monetize their performing loans at a higher yield than a sale of the re-performing note.


    Joining the broadcast to discuss short refinances is Craig Everett, principal at Cairn Advisors.


    Craig has over 20 years’ experience in the mortgage industry in a variety of lending environments.  Craig’s previous positions include Vice President of Distressed Originations for Lime Financial/Credit Suisse and Founding Partner of Wealthbridge Mortgage a 50 state originator and special servicer. Craig has spent the last 5 years as principal of Cairn Advisors working in the distressed origination space where he has helped hedge funds, servicers and other clients maximize the return on their assets through unique loss mitigation strategies. 

  • 00:34

    THE DAILY COMPLAINT (KEYS TO STOPPING A FORECLOSURE SALE DATE/CONSUMER RIGHTS)

    in Finance

    TODAY'S SPOTLIGHT:


    WE WERE SUCCESSFUL IN ASSISTING A HOMEOWNER IN STOPPING A FORECLOSURE SALE DATE DESPITE THE FACT THE MORTGAGE SERVICER HAD BEEN VIOLATING FEDERAL LAW CFPB RIGHTS


    "the daily complaint"


    Every weekday we answer client complaints on The Daily Complaint to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated.  


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on The Daily Complaint and I thank you for your continued support!


    We hope you enjoy the Show...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


     


    Every new beginning comes from some other beginning's END!


    THE DAILY COMPLAINT - LIVE WEEKDAYS AT 8:30 AM PT (CA) & 11:30 AM ET (NY)

  • 00:29

    E-Discovery Nuts and Bolts: CFPB Rules for Dual Tracking for Homeowners

    in Legal

    The CFPB, which was established under the auspices of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, codified at Pub. L. 111-203, 124 Stat. 1376-2223, issued new mortgage servicing rules that went into effect as of January 10, 2014. 


    Under the new rules, a mortgage servicer cannot initiate a foreclosure until 120 days after you fall behind in payments.  Also, the servicer cannot start the foreclosure process if a loss mitigation application is pending.


    What this means folks is that if you submit a complete loss mitigation application to your mortgage servicer after the foreclosure has started, but more than 37 days before a foreclosure sale, the servicer must stop the foreclosure proces until:


    1. The servicer informs you that you are not eligible for any loss mitigation options (and any appeal you make has been exhausted);


    2. You reject the workout option that the servicer offers to you, or


    3. You accept a workout, but fail to comply with the terms of the deal (such as not making payments during a trial modification)


    To find out more about the CFPB's new mortgage servicing rules, visit our website at www.ediscoverynow.net or call 888-502-0586 to speak with and E-Discovery Specialist.

  • THE DAILY COMPLAINT (OCWEN/NO ESCROW ACCOUNT/FALSE ESCROW LATE FEES/FRAUD/FTC)

    in Finance

    TODAY'S SPOTLIGHT:


    OCWEN LOAN SERVICING INVALID EXORBITANT ESCROW FEES NO ESCROW ACCOUNT ESTABLISHED MORTGAGE SERVICER REFUSAL TO CORRECT MISTAKE ESCALATING FORECLOSURE FTC CFPB HUD


    "the daily complaint"


    Every weekday we answer client complaints on The Daily Complaint to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated.  


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on The Daily Complaint and I thank you for your continued support!


    We hope you enjoy the Show...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


     


    Every new beginning comes from some other beginning's END


    THE DAILY COMPLAINT - LIVE WEEKDAYS AT 8:30 AM PT (CA) & 11:30 AM ET (NY)