facebookfacebooklinkedin

This email address is being protected from spambots. You need JavaScript enabled to view it.

497 Hooksett Rd. #105
 Manchester, NH 03104 
Phone: (603) 685 4301

In the News

Market Shifts See Servicers Prioritizing Borrowers Over Investors

Although mortgage servicers technically work for the investors that pay them, the state of the business today requires that they make consumers front-and-center in their operations.

The shift in servicers' priorities from being investor-driven to consumer-centric has come largely as the result of heightened regulatory scrutiny by the Consumer Financial Protection Bureau.

These changing business dynamics make it a great time to be in servicing, "because you have the ability to make a difference" with consumers, Craig Martin, a director in the mortgage practice at J.D. Power and Associates, said during the recent National Mortgage News servicing conference in Dallas.

...
 

Lawsky's New Ocwen Fight Threatens Wells Fargo Servicing Sale

Mounting regulatory and political problems may prevent Ocwen Financial from completing its purchase of $39 billion in mortgage-servicing rights from Wells Fargo.

The deal has been in jeopardy for months since New York's top banking regulator, Benjamin Lawsky, froze it indefinitely and he may have just delivered the death blow, analysts and servicing experts said.

Lawsky's latest crackdown on Ocwen drove the mortgage servicer's shares down 18.2% Tuesday and another 7% in Wednesday afternoon trading. Lawsky accused Ocwen of sending thousands of financially distressed homeowners notices of imminent foreclosure well after their last chance to pay and said the company had to fix its systems immediately.

"This increases the chances the Wells Fargo servicing deal is canceled," Compass Point Research & Trading analyst Kevin Barker wrote in a research note.

Moreover, the situation could help prolong the chill in the overall market for buying and selling mortgage-servicing rights.

...
 

HUD Reverses Course on Nonborrowing Spouse Foreclosures

The Department of Housing and Urban Development has rescinded a policy designed to help certain widowed spouses of reverse mortgage borrowers avoid foreclosure.

The April 30 letter affects so-called nonborrowing spouses individuals who were not named on their deceased husbands' or wives' reverse loan documents, and whose spouses had case numbers assigned before Aug. 4, 2014.

As a result of the rescission, mortgagees get an additional 60-day extension of the deadline when they must initiate foreclosure and "comply with reasonable diligence timeframes," according to information published on HUD's website. Mortgagees will not be penalized for not meeting standard foreclosure timelines during this period. However, mortgagees must submit a extension request to HUD for each case, as well as track and record the volume of requests they make.

...
 

Ocwen, Assurant Near $150M Settlement in Class Action Lawsuit

Ocwen Financial and Assurant have reached an agreement to settle charges that the embattled mortgage servicer profited from kickbacks on force-placed insurance policies with struggling homeowners.

The settlement, filed in federal court earlier this week, would provide $140 million in monetary relief to nearly 400,000 borrowers. It would also provide an additional $10 million for legal fees and expenses.

At issue in the class-action suit are insurance policies placed on foreclosed properties, to cover hazard, flood, flood-gap and wind insurance. Plaintiffs in the case accused Ocwen of inflating premiums and profiting from kickbacks through an arrangement with Assurant, the New York-based insurance provider that administered the policies.

...
 

Page 7 of 1048


Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 94

Warning: Illegal string offset 'active' in /home/stellionata/www/www/templates/jbpure/html/pagination.php on line 100

Company Contact

Stellionata Consulting, LLC

497 Hooksett Rd. #105

Manchester, NH 03104

Phone: (603) 685 4301

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Chain of Title

A few years ago, there was a lot of media hype about "producing the original note." There was almost equal response from the mortgage/foreclosure industry that the original note wasn't important and that reasonable facsimiles that were attested to as being "true and accurate copies of the original" were/are good enough to demonstrate that the current "bearer" of the copy is the rightful note holder and, therefore, has title and interest in the promissory note and has legal standing to foreclose.

Find out more