September 15, 2016 Speakers: Odette Williamson, National Consumer Law Center and Sarah Bolling Mancini, National Consumer Law Center Land installment contracts, also known as "contracts for deed," have long been a poor replacement for mortgage loans in credit-starved communities. In these transactions, the purchaser is required to take on all the obligations of homeownership, while making monthly [...]
A recent article by the Seattle Times and Buzzfeed News has exposed discriminatory practices by the nation’s largest manufactured housing company, Clayton Homes and its lending subsidiaries Vanderbilt Mortgage and 21st Mortgage. The article alleges that borrowers of color were steered into higher-rate loans, rushed at loan closing, charged substantially higher rates, on average, than [...]
Discovery plays a key role in mortgage litigation. The focus on this program will be on what information is available from mortgage servicers and other possible parties, but we’ll also touch on electronic (ESI) discovery and protective orders. Presenters: Kai Richter (Nichols Kaster, PLLP) and Tara Twomey (National Consumer Law Center) This Webinar is provided [...]
Advocates representing widows or widowers that were left off of a reverse mortgage loan taken out by their spouses have been struggling to keep foreclosure at bay. While the Plunkett litigation is ongoing, HUD has long promised a solution addressing this issue for all non-borrowing spouses. With the issuance of Mortgagee Letter 2015-03, it is [...]
Confidentiality issues in mortgage litigation arise frequently. From the early stages of discovery through final settlements, lenders and servicers routinely ask practitioners and clients to keep secrets. But, do these requests go too far? Does the servicers protective order sweep to broadly? Are you putting yourself and your client at risk when you agree to [...]
Since the turn of the century, the majority of residential loans have been securitized with the mortgage loans being transferred numerous time as they move through the securitization process. This session will delve into the Uniform Commercial Code--articles 1, 3 and 9--to figure out whether loans were properly transferred between parties and who really owns [...]
Bankruptcy is one of the most effective tools for preventing foreclosure. From the automatic stay to the ability to cure mortgage arrears, bankruptcy can help save homes. But the power of bankruptcy goes beyond these two critical provisions. Any advocate working to preserve homeownership needs to know what bankruptcy can and cannot do for clients [...]
After a death in the family or a divorce, financial hardship often follows. The heir or ex-spouse trying to save the home from foreclosure may not have been an original borrower on the mortgage loan. Mortgage servicers sometimes refuse to provide any information or claim that such a non-borrower cannot apply for a loan modification. [...]
Medley of Mortgage Issues: In this webinar, our presenters will provide updates on various mortgage-related programs including FHA loss mitigation, new reverse mortgage rules, the applicability of the ATR rule for successors in interest, deficiency judgments, and an overview of the latest mortgage servicing rules proposed by the CFPB. Presenters: Geoff Walsh and Odette Williamson, [...]
The family home is often viewed as a pillar of stability and economic well-being. But, death and divorce are two events that can rock families to their core. These events are often coupled with financial distress and can lead to the loss of the home. Mortgage servicers treatment of surviving spouses and divorcees too frequently [...]
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