Archive for August, 2013

By August 9, 2013 2 Comments Read More →

Ninth Circuit Adopts Wigod: Lender Contractually Obligated to Offer Permanent Modification If Borrower Complies With TPP

An important new opinion is out from the Ninth Circuit holding that Wells Fargo was contractually obligated to offer a permanent modification after the plaintiff-homeowners fully complied with the terms of their HAMP trial period plan. In Corvello v. Wells Fargo Bank, the Ninth Circuit reversed a California district court’s dismissal of plaintiffs’ breach of […]

Posted in: News and Events
By August 5, 2013 0 Comments Read More →

Attorney General Rosenblum Pens Op-Ed Calling Revamped Mediation Program A Win-Win

This weekend Attorney General Ellen Rosenblum published a smart and insightful op-ed in the Statesman-Journal calling the revamped foreclosure mediation program a win-win for homeowners, lenders and the Oregon economy. Since taking office, Rosenblum has demonstrated a keen understanding of the problems facing struggling Oregon homeowners. During the last legislative session, Rosenblum testified in support of SB […]

Posted in: News and Events
By August 4, 2013 0 Comments Read More →

OregonLive: State Starts Do-Over on Foreclosure Mediation

Elliot Njus has a short article on the relaunch of the foreclosure mediation program, now dubbed the Oregon Foreclosure Avoidance Program, on OregonLive. In the article, the Oregon Banker’s Association’s chief lobbyist on this issue, Paul Cosgrove, warns that lenders will need time to adjust to the new rules, noting that lenders had only a […]

Posted in: News and Events
By August 4, 2013 1 Comments Read More →

Oregon’s Revamped Foreclosure Mediation Program Goes Live

The new Oregon Foreclosure Avoidance Program (OFAP) officially launched today, though homeowners will not have an opportunity to initiate the process until Monday. OFAP is the creation of SB 558, which overhauled the existing Foreclosure Avoidance Mediation Program (FAMP) in effect since last July. FAMP did not apply to judicial foreclosures, a gaping loophole that […]

Posted in: News and Events
By August 4, 2013 0 Comments Read More →

Chase Glitch Sends Oregon Widow Into Foreclosure

Widow fights MetLife for a year to get a modification. Widow makes the first of three trial payments. MetLife transfers servicing to JPMorgan Chase. Widow makes the next two payments. Chase tells her the permanent loan modification documents are in the works and to stop making trial payments. But thanks to a “glitch” on Chase’s […]

Posted in: News and Events