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Loan Modification

: Loan Modification & Home Loan News

Should Lenders Go After Borrowers Who ?Walk Away???

By Moe Bedard

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Fannie Mae?s announcement last week that it would seek tougher penalties against borrowers who walk away from homes when they have the capacity to pay has sparked all types of outrage. The company said it would step up efforts to pursue deficiency judgment?seeking to recoup the difference between the loan balance and the net proceeds [...]

Full post as published by Loan Modification & Home Loan News on June 30, 2010 (boomark / email).

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Lawsuits and Settlements

Lenders Fined
Ryland Group Inc. settles $370,000 questionable lending suit.

Countrywide Financial Corp.
allegedly charged borrowers improper foreclosure fees.

Wesley A. Snyder et al.
alleging the consultants perpetrated a Ponzi scheme by encouraging borrowers to lend more than they needed.

Loan Backers
Mortgage Lenders Network pays $855,000 bankruptcy settlement for unfunded mortgages.

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