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Posts Tagged ‘Lenders’

We are Experiencing High Call Volumes

July 5, 2012 1 comment

Due to the segment that was aired on Nightline July 4. 2012 we are experiencing high call volumes and an overwhelming number of emails from homeowners asking for our assistance.

If you are trying to contact us please be sure to let us know if you have a sale date on your home by including that in your phone message or typing it into the subject line of your email.

Please be patient. We will do our best to get in touch with everyone who has contact us.

File a Mortgage Complaint – Consumer Financial Protection Bureau

April 6, 2012 2 comments

Here are some of the most common complaints about mortgage servicers we hear from homeowners:

Eligible homeowners denied for Hamp modifications because of sloppy handling of documents by the servicer.

Servicers pushing homeowners into less than affordable “in house” modifications when they clearly qualify for the more affordable government Hamp program.

Foreclosing while in review for a modification.

Misapplying trial modification payments or processing incorrectly so the homeowner is disqualified for a Hamp modification.

Misapplying mortgage payments so the homeowner is deemed in default.

Processing escrow accounts incorrectly.

Declaring homes vacant (when they are in fact occupied by the homeowner) which disqualifies them for HAMP.

Granting 3 month trial modification, but the bank insists that the homeowner continue to make the trial payments for months or years, leading them to believe they will receive permanent loan modification documents in the mail, but they never arrive.

Servicers abrubtly refuse payments or send payments back to the homeowner when they have been participating in an extended trial modification plan, then informing them they are denied for modification.

Requesting loan modification and financial documents repeatedly and telling the homeowner they were never received.

Improperly calculating the homeowner’s income to disqualify them for a loan modification.

Discriminating against minorities and single women.

The Consumer Financial Protection Bureau  is taking mortgage complaints.  If you are having issues with your mortgage servicer we encourage you to file a complaint at www.consumerfinance.gov.   It is our hope that the CFPB will see the patterns of abuse as more complaints are submitted by homeowners.

How Should Banks Change the Way They Treat Homeowners?

March 27, 2012 2 comments

Tell us how you’d like to see banks change the way they treat homeowners.  Please use the comment section for your responses.

HSITrust Volunteer Attends Hope Now Home Preservation Event

March 26, 2012 Leave a comment

My experience at HAMP’s Education session for Real Estate Professionals was like being in a parallel universe. What my mind knew and what I was hearing and seeing were complete opposites. I had to mask my expressions all day. I was fearful my face would give me away. I was terrified I would be “found out”. I really play for the other team, the team that wants people to STAY in their homes. I was truly David in Goliath’s backyard. Even with my own foreclosure nightmare, I still am naïve to the far reaches of greed and fraud. Looking into the faces of the “Big 5” bank representatives, I saw smugness, condensation, annoyance, and the ever present blame everyone else attitude.

The session was about HAFA, Home Affordable Foreclosure Alternatives, i.e. Short Sales and Deed in Lieu. Or as D.S. from Wells Fargo said, “Graceful Exits”. “ A way for people to keep their dignity.” Wow talking about families with such compassion. The Big 5 showed no understanding they were talking about their neighbors, their friends, their children’s classmates. Just unfeeling people sitting on a stage, while the minions sat below.

This event had primarily real estate professionals attend. Those poor brave souls, who had no idea that by the end of the session, they would be belittled and blamed for short sales that fail. Real Estate agents need to do their “due diligence” in order to get the sale closed. Another carrot dangling…My opinion of short sale agents shifted a bit, from the bottom feeders, to people being victimized by the banks. The banks create impossible hurdles for homeowners and everyone involved in real estate. The truly are the puppet masters of our country.

The biggest threat in America today is the BIG BANKS and WALL STREET. Be afraid.

 

Part 2

HopeNow – Home Preservation event for homeowners.

The event continued in the afternoon, this time it was a huge production to show America that the banks, HUD and the Government really do care. Ha Ha. Once I realized that HopeNow is funded by the banks, I felt like I was in the twilight zone. Hundreds of people involved in this event, hopeful homeowners, unsuspecting housing counselors, and volunteers who believed this event was going to help people. It was nothing more than smoke and mirrors.

I entered the event, once again a sheep in wolf’s clothing. I was granted access to sit with the HUD approved counselors. I entered with apprehension, did I look like them? Would anyone recognize my name from change.org or the media? Would HSITrust be recognized? Nope. I was in. Talking with the counselors was unbelievable. Some were naïve and hopeful. Some like R.V. from a local HUD approved counseling agency were jaded and pessimistic. She said the banks like people to meet with housing counselors first, to make it easier for the banks. So people can start to accept the reality, that in the end they will lose their home.

I also met another woman, from another HUD approved agency who is a Realtor, and uses being a housing counselor to support her short sales. She has learned well; use the system for your own benefit. Maybe she could get a job at a bank, in the liquidation department.

I saw no one being helped. For example, woman from “keep your home California” table, who had 2 people go sit to apply and walked them to another table, saying they “probably” didn’t qualify. Truth is she was busy working on her laptop. I think housing counselors should be foreclosure survivors, they might have more willingness to work for their clients.

Most of the people I spoke with on their way out of the event, said they got no help. Gee, I wonder why? Others left with contact info for their “single point of contact” at the bank and were optimistic and disillusioned. I left feeling like a very small David, battling a HUGE Goliath. I also left with resolve to keep helping people like me, like others at HSITrust, victims of the foreclosure scam and Wall Street’s greed.

 

 

L. Randall Wray: Secret Deals, Foreclosure Settlements, Stress Tests and Vampire Squid Whistleblowers

March 16, 2012 Leave a comment

From Huffington Post:

 

No Hollywood scriptwriter could plot a more implausible story. Here is the plotline sequencing:

    1. Bankers make NINJA loans, securitize them, and sell on to government GSEs
    1. Bankers destroy all the loan documents and begin random and fraudulent foreclosures, throwing millions of innocent victims out on the street
    1. GSEs sue bankers and force them to take back bad mortgages
    1. Bankers sell servicing rights for the same bad mortgages back to GSEs, who overpay
    1. GSEs resell servicing rights to companies run by former GSE officials
    1. Bankers slapped on wrist with puny foreclosure settlement in return for government promise it will never sue them for past foreclosure fraud
    1. Government stress test claims banks are healthy
    1. Bankers get sweet deal, counting mortgage mods for best borrowers toward the settlement
    1. HUD report released demonstrating massive foreclosure fraud that reached to highest levels of banks
    1. Vampire Squid Executive Director fires off resignation letter decrying bankster culture
  1. Banksters walk away scott-free as statute of limitations runs out for criminal behavior

 

L. Randall Wray

GET UPDATES FROM L. Randall Wray

Secret Deals, Foreclosure Settlements, Stress Tests and Vampire Squid Whistleblowers

Posted: 03/15/2012 10:53 am

No Hollywood scriptwriter could plot a more implausible story. Here is the plotline sequencing:

    1. Bankers make NINJA loans, securitize them, and sell on to government GSEs
    1. Bankers destroy all the loan documents and begin random and fraudulent foreclosures, throwing millions of innocent victims out on the street
    1. GSEs sue bankers and force them to take back bad mortgages
    1. Bankers sell servicing rights for the same bad mortgages back to GSEs, who overpay
    1. GSEs resell servicing rights to companies run by former GSE officials
    1. Bankers slapped on wrist with puny foreclosure settlement in return for government promise it will never sue them for past foreclosure fraud
    1. Government stress test claims banks are healthy
    1. Bankers get sweet deal, counting mortgage mods for best borrowers toward the settlement
    1. HUD report released demonstrating massive foreclosure fraud that reached to highest levels of banks
    1. Vampire Squid Executive Director fires off resignation letter decrying bankster culture
    1. Banksters walk away scott-free as statute of limitations runs out for criminal behavior

This would have to be a fantasy because no one would ever believe it could have been true.

and

A detailed review of 36 of Chase’s foreclosures found that the bank was unable to find any documents related to how much the borrowers owed in 32 of them; there were documents in 4 cases, but docs for 3 of those were wrong. In other words, Chase actually had correct documents needed for foreclosure in only one case out of 36. And these were foreclosures it had successfully completed. In 35 out of 36 cases Chase had simply stolen the home — it had no documents showing what the homeowners supposedly owed. Maybe they owed nothing. We will never know. That is the state of home mortgages in America — thanks to Wall Street and MERS.

 

L. Randall Wray: Secret Deals, Foreclosure Settlements, Stress Tests and Vampire Squid Whistleblowers.

Message to Wells Fargo – Lopez Family

March 14, 2012 Leave a comment

The Lopez family qualifies for a Homes Affordable Modification but Wells Fargo has denied them repeatedly. Tell Wells Fargo to end discriminatory practices and treat the Hispanic community fairly and equally.

Join Rachel Kendall: Save Our Homes Rally – Lincoln, CA

March 14, 2012 Leave a comment

SAVE OUR HOMES RALLY

Wells Fargo Bank, 945 S State Highway 65 (Map)
Lincoln, CA 95648
Thursday, March 15th, 10:00 AM

Let’s keep the momentum going! Please sign up for this gathering right away! 

We are still working to have Rachel’s wrongful foreclosure rescinded. Several weeks ago Wells Fargo stopped eviction activity and informed us Rachel must complete a trial modification before rescinding the foreclosure. However, to date, Rachel has not received the trial modification documents. Add your name to Rachel’s Change.org petition here.