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

Thousands of foreclosure payments going to wrong people

Notify me of new replies via email
Mortgage Professional America | 05 May 2014, 08:31 AM Agree 0
A major mortgage servicer is about to start handing out $1,000 checks -- as compensation for foreclosure problems borrowers never experienced. And the reasoning behind the payout highlights problems with the government's foreclosure settlements.
  • Teresa | | 06 May 2014, 09:57 AM Agree 0
    The big lender bank Flagstar FSB was found guilty of FHA fraud just like the other 'big' lenders & fined $132 million by the government, but the Flagstar foreclosure victims involved have not been offered any kind of settlement. Our mortgage with Flagstar was full of illegal tactics, and they refused modification attempts for 2 yrs. after a job layoff got us behind yet they foreclosed (MERS# on docs,) illegally anyway. Why hasn't the AG made ALlL the crooked lenders who have been found guilty of mortgage fraud compensate their victims?? Why has Flagstar Bank, a federal savings bank, been allowed NOT to pay any compensation to its numerous mortgage fraud victims?? Yet Flagstar Bank FSB made billions off the crooked mortgages they made.
Post a reply