Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Is Wells Fargo living up to its end of $25 billion mortgage servicing deal?

Notify me of new replies via email
Mortgage Professional America | 04 Feb 2015, 08:37 AM Agree 0
The N.Y. Attorney General, who accused the lender of failing to comply with several mortgage servicing standards, doesn't think so. A federal judge recently ruled on the case.
  • Cheryl M | | 04 Feb 2015, 10:27 AM Agree 0
    Mr. Schneiderman, FIRST you need to understand the parameters of a mortgage modifications...YOU DO NOT! If you did you would stop forwarding consumer complaints sent to your offices to the CFPB. Consumers are telling you Wells and CHase are NOT living up to their end of the "Settlement." Keep doing what you're doing...don't listen to New Yorker's.

    This is a clear indication that you need to understand the difference between servicing and what the "mortgagee" was doing during the time of modification. YOU DO NOT! SECOND did you settle with the "servicer's" or the mortgagee's? That would be important!!! The problem with mortgage modifications did not happen during the servicing, it was with the mortgagee's modifying their own mortgages than later transferring them to investors like Fannie and Freddie. The servicers did nothing wrong the mortgagee's did. THIRD...So, Who did you settle with? And why are you only accusing Wells, how about Chase?
Post a reply