Posts Tagged ‘ Ginnie Mae ’

National Mortgage Servicing Settlement

iStock_000001035674XSmall

The National Settlement Executive Summary, the Mortgage Servicing Settlement Fact Sheet, and the Servicing Standards Highlights for the recent mortgage servicing settlement among the United States Justice Department, federal agencies identified within the Executive Summary, certain state Attorneys General, and five leading residential mortgage loan servicers including Bank of America; Citigroup, Inc.; J. P. Morgan Chase; Wells Fargo; and, Ally Financial, Inc. (formerly GMAC) collectively describe a significant accomplishment for homeowners receiving benefits from the settlement. Included within the settlement provisions is a prohibition against dual or two tracking by  mortgage loan servicers, e.g., loan servicers are reportedly not to engage in discussions or negotiations with borrowers...

Read more »