Posts Tagged ‘servicing’

In a class-action lawsuit against Homecomings Financial, consumers alleged that Homecomings would charge borrowers for unnecessary homeowner’s insurance, fail to process payments on time, forcing borrowers to pay “Speedpay” fees of up to $12.50. One plaintiff says Homecomings charged him with six property-inspection fees in a 10-day period, apparently because Homecomings wanted to make sure [...]

I was amused to read Mark Ireland’s post saying he came under fire by members of a panel on foreclosures at the recent Equal Justice Conference in Minneapolis for suggesting that mortgage loan servicers are not acting in the best interest of either consumers or lenders. I thought that was common knowledge.
Servicers make money from [...]