Tag: dual track

By November 17, 2013 2 Comments Read More →

Nationstar Issues Public Apology to Elderly Oregon Couple For Botched Modification

An Oregon couple has received a public apology from Nationstar, one of the nation’s largest mortgage loan servicers, for botching their loan modification. Nationstar approved Michael and Judith McElderly for a trial period plan in January 2013. Nationstar promised the McElderlys that it would permanently modify their loan if they made three trial payments of […]

Posted in: News and Events
Oregon’s Dual Track Notice Provision is Working
By November 15, 2012 2 Comments Read More →

Oregon’s Dual Track Notice Provision is Working

The mediation bill passed last spring contained some unrelated reforms to the non-judicial foreclosure process in Oregon. One of those reforms is a requirement that lenders send homeowners a notice explaining in plain English why they do not qualify for a loan modification, short sale, or other foreclosure avoidance measure. If the homeowner and the […]

Posted in: Features
Post-Settlement Dual Tracking: Its Better than Nothing
By October 23, 2012 0 Comments Read More →

Post-Settlement Dual Tracking: Its Better than Nothing

You may have heard that the national foreclosure settlement has put an end to dual tracking by the Big Five loan servicers (Bank of America, Wells Fargo, Chase, Citi, and GMAC/Ally). That makes for a pithy headline, but the reality is more complicated. First, there are two big settlement caveats to keep in mind. The […]

Posted in: Features