Servicers

Experts in mortgage processes, housing law and bankruptcy say the practices employed by the big mortgage originators, securitizers and servicers is largely flawed, and that in some cases the basic process of how a loan came to be securitized and sold can be legitimately questioned. ❋ Shahien Nasiripour (2010)

Wells Fargo & Co., one of the country's largest home lenders and loan servicers, is among the companies being targeted by Families Fighting Foreclosure. ❋ Amir Efrati (2010)

: Despite repeated attempts and many hours of effort, many homeowners report they repeatedly get put on hold when they call servicers or bounced from one person to another without receiving any meaningful assistance. ❋ Unknown (2009)

Ever since this current foreclosure crisis began, Congress has complained that the companies administering mortgages -- "servicers" -- have not done enough to modify home loans in ways that might prevent foreclosures. ❋ Eric Brenner (2009)

Why was the program voluntary for "servicers" - most of them bailed-out banks? the bailout provisions included help for homeowners - I just wanted prevailing mtg. interest rates not a handout. ❋ Unknown (2011)

The OCC is also trying to persuade mortgage companies that collect payments from borrowers, known as servicers, into adopting new standards in how they deal with homeowners. ❋ Shahien Nasiripour (2011)

Remember, the servicers are the same fraudsters who are losing mortgage payments, sending foreclosure notices to the wrong homeowners, telling homeowners to skip payments so that they can qualify for modifications -- then stealing their homes, and in some cases delaying foreclosures in order to maximize late fees and penalties. ❋ L. Randall Wray (2010)

You may remember her as being one of the few members of Congress to take up the cause of homeowners when this mess started to unravel, going so far as to call servicers on behalf of her constintuents. ❋ Richard Zombeck (2010)