Bankruptcy

Mortgage Companies/Servicers Get Blasted

By mcbride

Bankruptcy Judges and Trustees are weighing in on mortgage companies? and servicers? tactics and strategies and the results are not pretty.  ?This May, Judge Elizabeth Magner in Louisiana said her review of multiple cases involving Ocwen Loan Servicing had shown the servicer regularly acted in ?bad faith.? The judge said Ocwen had charged improper fees and attempted to collect bankruptcy-related fees after the court closed a case. In one of the cases, Ocwen took 10 months to provide a full accounting of fees.?

Here is a link to this article which has links to Court opinions and articles on this topic: http://www.propublica.org/ion/bailout/item/bankruptcy-judges-justice-dept.-rip-mortgage-companies-811

 Michael

Full post as published by Texas Lawyer Blog on August 13, 2009 (boomark / email).