Features

Qualified Written Requests Under the New Mortgage Servicing Rules, Part Two: Information Requests
By February 23, 2014 0 Comments Read More →

Qualified Written Requests Under the New Mortgage Servicing Rules, Part Two: Information Requests

In Part One, we reviewed the essential provisions of the new mortgage servicing rules for resolving errors. In Part Two, we will look at the requirements for requesting information about a loan from the servicer. The new rules became effective January 10, 2014. Even if the borrower is not asserting an error, a borrower is […]

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Qualified Written Requests Under the New Mortgage Servicing Rules, Part One: Error Resolutions
By February 23, 2014 1 Comments Read More →

Qualified Written Requests Under the New Mortgage Servicing Rules, Part One: Error Resolutions

New rules issued by the Consumer Financial Protection Bureau went into effect on January 10, 2014. Those rules include detailed guidelines for submitting and responding to qualified written requests under RESPA. There are two types of qualified written requests: notices of a servicing error and requests for information. The rules vary for each type of […]

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Loss Mitigation Under the New Mortgage Servicing Rules
By February 21, 2014 1 Comments Read More →

Loss Mitigation Under the New Mortgage Servicing Rules

On January 10, 2014, new mortgage servicing rules promulgated by the Consumer Financial Protection Bureau went into effect. Among other things, the new rules include detailed requirements for loss mitigation. If a servicer violates the loss mitigation provisions, a borrower may sue for damages, costs, and attorney fees. Whatever their shortcomings, the rules are the […]

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New Mortgage and Foreclosure Bills Introduced in the 2014 Oregon Legislature
By February 1, 2014 0 Comments Read More →

New Mortgage and Foreclosure Bills Introduced in the 2014 Oregon Legislature

The Oregon Legislature will convene on February 3 and at least a few mortgage and foreclosure bills will haunt the hallways. Bills to watch include: HB 4033 This bill requires a trust deed beneficiary to provide a copy of the note and a “beneficiary statement” and/or a “payoff statement” within 21 days from receipt of […]

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Stealing Bases: Lenders Using Writs of Assistance To Remove Tenants Post-Foreclosure in Violation of State and Federal Law
By January 31, 2014 4 Comments Read More →

Stealing Bases: Lenders Using Writs of Assistance To Remove Tenants Post-Foreclosure in Violation of State and Federal Law

Another troubling foreclosure practice has come to light in Oregon. Lenders are using common law writs of assistance to avoid the post-foreclosure eviction process and summarily remove tenants in derogation of both state and federal laws. State and Federal Law Protects Tenants From Summary Eviction Post-Foreclosure Writs of assistance are creatures of common law arising […]

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Reformation Claims: The Answer for Non-Borrowing Spouses Facing Foreclosure of a Reverse Mortgage?
By November 11, 2013 0 Comments Read More →

Reformation Claims: The Answer for Non-Borrowing Spouses Facing Foreclosure of a Reverse Mortgage?

What a mess HUD has made for elderly couples federal law always meant to protect. Federal law prohibits HUD from insuring reverse mortgages that allow the loan to come due before the death of the borrower or the borrower’s spouse. Despite the plain language of the statute, HUD issued regulations that allow a lender to […]

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Where’s the Beef? The Disappointing Reality of the National Mortgage Settlement
By November 1, 2013 0 Comments Read More →

Where’s the Beef? The Disappointing Reality of the National Mortgage Settlement

In the 1980s, the Wendy’s fast food chain famously ran an ad campaign featuring a silver-haired lady exclaiming “Where’s the beef?” As the ads wryly suggested, competitors were all buns and no beef. Much the same can be said today of the National Mortgage Settlement. As the five participating servicers wind up their consumer relief […]

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OHCS Creates New Promotional Video Explaining Oregon’s Foreclosure Mediation Program
By October 31, 2013 0 Comments Read More →

OHCS Creates New Promotional Video Explaining Oregon’s Foreclosure Mediation Program

Oregon Housing and Community Services (OHCS) has created a snazzy new promotional video explaining how the Oregon Foreclosure Avoidance Program works. The video now greets every visitor to the state’s central foreclosure information repository: OregonHomeownerSupport.gov. The website also contains a search tool to locate the nearest state-approved housing counseling agency and information about programs and […]

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Early Signs of Success for Oregon’s Revamped Foreclosure Mediation Program
By October 30, 2013 0 Comments Read More →

Early Signs of Success for Oregon’s Revamped Foreclosure Mediation Program

Yesterday, the Advisory Committee for the Oregon Foreclosure Avoidance Program (OFAP) met for the first time since the mediation program relaunched. The service provider, Mediation Case Manager, reported on the progress of cases filed to date. In the first 12 weeks of the program, more than 1,738 cases have been uploaded to the portal. Nearly […]

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A Spooktacular Halloween Proposal: A Foreclosure Free Year For the Oregon Legislature
By October 20, 2013 0 Comments Read More →

A Spooktacular Halloween Proposal: A Foreclosure Free Year For the Oregon Legislature

Halloween is coming soon. Children and adults alike will dress as witches, zombies, and deranged serial killers. From homes dominated by politics, there will no doubt come marching tiny Ted Cruzes, Sarah Palins, and Barack Obamas ready to bicker over the distribution of candy. Living nightmares will abound. Conjuring up those images brings to mind […]

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