Debt collectors can come calling years after a mortgage default
Saturday, March 27, 2010
Homeowners defaulting on mortgages today may be surprised to learn years from now that they still owe thousands of dollars -- and that a collection agency is coming after them to get it.
That's because lenders have been quietly selling second mortgages and home-equity lines left unpaid after foreclosures and short sales. The buyers: collection agencies, which in some states have years to make a claim.
If they win court judgments, these collectors could have years to pursue borrowers with repayment plans, and even to garnish their wages, said Scott CoBen, a Sacramento bankruptcy attorney.
"The only relief a consumer will have is entering into a debt-negotiating plan or filing for bankruptcy," said Sylvia Alayon, a vice president with the Consumer Mortgage Audit Center. The firm provides mortgage analysis to lenders, advocacy groups and attorneys.
The phenomenon suggests an ominous, looming echo of the recent real estate collapse. As debt collectors seek at least partial repayment of millions of dollars in unpaid home loans, some say renewed financial stresses on tens of thousands of consumers could dampen economic recovery.
"I think there will be a lot of unhappy people when it hits," said CoBen. "We saw this in the '90s. This is not really new. Just when you think you're back on your feet, you're making money and the economy's good, they hit you with this."
Alayon said most people are so stressed out and exhausted by trying to save their homes now that they are unaware they could face another hit later. And many who are losing homes don't get the advice necessary to prevent future fallout, say loan counselors at nonprofit organizations.
"You've got tens of thousands of people in California who have this hanging over their heads who don't even know it," said Scott Thompson, principal at for-profit Mortgage Resolution Services in California. He fears a new wave of bankruptcies might affect people just starting to recover from losing their homes.
"So many of these are people with 750 or 800 credit scores who made a bad decision," said Thompson. "Or they're people who suffered income cuts. These are people, in terms of the economy, whom we need to participate." But an entire industry is gearing up to buy their debt at deep discounts and collect what it can, Alayon said.
"It's a big business, and investors are coming out of the woodwork. It's a very lucrative business," she said. Real estate insiders and financial players know it as "scratch and dent." One of the biggest players in the business, Texas-based Real Time Resolutions, did not respond to an inquiry on the subject from McClatchy Newspapers. Neither did Bank of America, which holds many defaulted loans made by its Countrywide affiliate during the real estate boom.
Banks made many "second-lien" loans, including those used to finance 20 percent down payments during the housing boom. A separate category of "seconds" includes home-equity loans and home-equity lines of credit. Nationally, about 3.4 percent of those loans are currently delinquent, according to Foresight.
Owners are generally, but not always, on the hook for the second loans left over from a foreclosure or short sale. Most investor mortgages, too, leave the borrower liable for potential unpaid debt.
In many short sales, experienced real estate agents or attorneys can negotiate away debt obligations for the second-lien loan. But many inexperienced borrowers don't know that, and they sign final-hour agreements giving lenders the right to pursue them later.
"Seek advice," counseled Doug Robinson, spokesman for national nonprofit mortgage counselor NeighborWorks America. He said nonprofit counselors can help.
"Often when you work with a real estate agent, they're not really equipped to handle the repercussions. They're set up to make the sale," he said.
A new Obama administration short-sale program aims to prevent banks that hold second-lien loans from pursuing collections from homeowners after the short sale. It goes into effect April 5 and works this way: Sellers will receive notice that their servicer has steered part of the sales proceeds to secondary lien holders "in exchange for release and full satisfaction of their liens." But this release would apply only to short sales done for people through the Home Affordable Foreclosure Alternatives program.
Wednesday, March 31, 2010
Tuesday, March 30, 2010
WaMu files Chapter 11 plan
WaMu files Chapter 11 plan
Saturday, March 27, 2010
DOVER, Del. -- Washington Mutual Inc. filed a Chapter 11 reorganization plan, two weeks after resolving a $4 billion dispute with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp.
The FDIC seized Washington Mutual's flagship bank in 2008 and sold its assets to JPMorgan for $1.9 billion. The sale resulted in the two banking companies and the government agency trading lawsuits over roughly $4 billion in disputed deposit accounts following the largest bank failure in U.S. history.
The bank holding company filed its 521-page plan late Friday in U.S. Bankruptcy Court in Delaware.
The plan, which still has to be approved by a judge, would set up a $7 billion trust fund for paying creditors, including the $4 billion in deposit accounts that JPMorgan had claimed for itself.
As part of a compromise reached this month, JPMorgan has agreed to turn over the $4 billion to Washington Mutual in return for 70 percent of the tax refunds expected from WaMu's prior operating losses, which are valued at about $3 billion.
WaMu would get about 40 percent of the tax refunds resulting from a second round of operating losses, which are valued at about $2.6 billion. The remaining 60 percent would go to the FDIC.
Saturday, March 27, 2010
DOVER, Del. -- Washington Mutual Inc. filed a Chapter 11 reorganization plan, two weeks after resolving a $4 billion dispute with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp.
The FDIC seized Washington Mutual's flagship bank in 2008 and sold its assets to JPMorgan for $1.9 billion. The sale resulted in the two banking companies and the government agency trading lawsuits over roughly $4 billion in disputed deposit accounts following the largest bank failure in U.S. history.
The bank holding company filed its 521-page plan late Friday in U.S. Bankruptcy Court in Delaware.
The plan, which still has to be approved by a judge, would set up a $7 billion trust fund for paying creditors, including the $4 billion in deposit accounts that JPMorgan had claimed for itself.
As part of a compromise reached this month, JPMorgan has agreed to turn over the $4 billion to Washington Mutual in return for 70 percent of the tax refunds expected from WaMu's prior operating losses, which are valued at about $3 billion.
WaMu would get about 40 percent of the tax refunds resulting from a second round of operating losses, which are valued at about $2.6 billion. The remaining 60 percent would go to the FDIC.
Sunday, March 28, 2010
Citi Agrees to Participate in Second Lien Program
Citi Agrees to Participate in Second Lien Program
3/25/2010
In an effort to keep families in their homes, Citi announced Thursday that it has committed to participate in the administration’s second lien modification program (2MP).
The New-York based global financial services company is the fourth major servicer to sign on to the program, which was introduced nearly a year ago.
“It is our priority and commitment at Citi to help homeowners in need,” said Vikram Pandit, Citigroup CEO.
“The 2MP program will further improve the affordability on mortgages and help families facing financial distress stay in their homes.”
2MP was designed to work in tandem with the Home Affordable Modification Program and is aimed at helping homeowners who have a second home equity mortgage. According to Treasury estimates, up to 50 percent of at-risk mortgages also have second liens.
To qualify for the program, homeowners must successfully complete a trial modification on their first mortgage. Then, if the servicer of the borrower’s second line in a 2MP participant, the servicer must offer to modify the second lien or accept a lump sum payment from Treasury in exchange for fully doing away with the second lien.
Citi joins Bank of America, Wells Fargo, and Chase as participants in the program. Together, these four servicers own $400 billion of the nation’s $1 trillion second lien mortgage market. Based on fourth quarter 2009 filings with the Securities and Exchange Commission, BofA holds $149 billion in junior liens, Citi has $54 billion, JPMorgan Chase holds $101 billion, and Wells Fargo has $115 billion.
The New-York based global financial services company is the fourth major servicer to sign on to the program, which was introduced nearly a year ago.
“It is our priority and commitment at Citi to help homeowners in need,” said Vikram Pandit, Citigroup CEO.
“The 2MP program will further improve the affordability on mortgages and help families facing financial distress stay in their homes.”
2MP was designed to work in tandem with the Home Affordable Modification Program and is aimed at helping homeowners who have a second home equity mortgage. According to Treasury estimates, up to 50 percent of at-risk mortgages also have second liens.
To qualify for the program, homeowners must successfully complete a trial modification on their first mortgage. Then, if the servicer of the borrower’s second line in a 2MP participant, the servicer must offer to modify the second lien or accept a lump sum payment from Treasury in exchange for fully doing away with the second lien.
Citi joins Bank of America, Wells Fargo, and Chase as participants in the program. Together, these four servicers own $400 billion of the nation’s $1 trillion second lien mortgage market. Based on fourth quarter 2009 filings with the Securities and Exchange Commission, BofA holds $149 billion in junior liens, Citi has $54 billion, JPMorgan Chase holds $101 billion, and Wells Fargo has $115 billion.
Hard Times Lead To Dramatic Rise In Bankruptcies
Hard Times Lead To Dramatic Rise In Bankruptcies
A Decade Of Personal Bankruptcies: 1999-2009
Consumer filings dropped sharply after Congress overhauled bankruptcy laws in 2005 but have been on the rise since 2006.
Personal bankruptcies rose more than 30 percent last year, with more than 1.4 million protection filings. Many middle-class Americans sought relief after losing jobs, seeing their businesses fail or facing foreclosure.
In fact, far more people are now using Chapter 7 — in which assets are sold to pay off debts and what can't be paid is absolved — instead of Chapter 13. In a Chapter 13 bankruptcy filing, an individual signs up for a time-limited repayment plan and, in return, gets to keep certain assets. Creditors often get more money in Chapter 13 filings.
In Search Of A Fresh Start
Bankruptcy is never pretty, but it does provide a fresh start for individuals like Linda Frakes, who lives in the Atlanta metro area.
By the time Frakes sought help from a bankruptcy lawyer, she owed about $150,000 on her credit cards. And the former corporate manager turned entrepreneur was getting deeper and deeper in debt. She tried to work out a repayment plan with a credit counseling agency, but things didn't go smoothly, and bankruptcy began to feel like the only way out.
Enlarge Richard Drew/APPeople waited in line outside the U.S. Bankruptcy Court in New York to file petitions on Oct. 14, 2005, prior to the start of a federal law that set stricter standards for seeking protection from creditors.
Richard Drew/AP
People waited in line outside the U.S. Bankruptcy Court in New York to file petitions on Oct. 14, 2005, prior to the start of a federal law that set stricter standards for seeking protection from creditors.
The single mother in her 50s, who had been living an upper-middle-class life, was both terrified and depressed.
"Up until that point in my life I really had defined myself by how successful I was," Frakes says. It was really difficult to come to the realization that she had gotten herself into a very difficult situation. "To me the equation was I wasn't as smart as I thought I was."
Using Credit To Stay Afloat
Frakes owned several successful businesses. But market conditions changed and she couldn't sell them as she had planned. As those in debt often do, she resorted to credit cards to keep herself and her businesses afloat. Then, the other shoe dropped — someone who owed her a lot of money as part of a business deal quit paying.
"What was left of the income I was living off of disappeared," Frakes says. "Now I was scrounging just to pay daily living expenses and that's when I became trapped."
Frakes has chronicled her financial journey, in a self-published paperback, How To Go Broke with Style: A User's Guide to Filing (or Avoiding) Bankruptcy with Humor & Grit!
The Origin Of Personal Bankruptcies
Business failures are often at the heart of personal bankruptcies. So are serious illnesses, divorce, a death in the family and, increasingly, the loss of a job.
Some who choose to file for personal bankruptcy may be deadbeats or individuals who deliberately run up debts that they have no intention of paying. But Seattle bankruptcy lawyer Gloria Nagler says the vast majority of people who seek protection don't fall into either category: "Believe me, people do not come into my office and say, 'Whoopie, I get to file bankruptcy.' "
Rather, she says, many people considering filing are often so embarrassed that they can't even look her in the eye.
"I quickly let them know it's not a moral failing," Nagler says. "My God, the economy is falling apart all around us. So many people are filing bankruptcy — I have twice the business. I can't even return all my calls." Other lawyers across the country report the same thing.
So many people have lost their jobs, says John Farver, another Seattle area bankruptcy lawyer, that they can no longer afford what they easily could have six months ago. "They need their own personal bailout," he says. "Just like the fat cats on Wall Street."
Saturday, March 27, 2010
Obama administration revises anti-foreclosure strategy
Obama administration revises anti-foreclosure strategy
Saturday, March 27, 2010
The Obama administration Friday tried to manage expectations about its newest foreclosure-prevention efforts, while consumer advocates and others who track the housing market praised the initiative but questioned whether it would succeed in curtailing the foreclosure epidemic.
The initiative, announced Friday, expands on the government's marquee foreclosure prevention program, Making Home Affordable. That program was originally expected to reach as many as 4 million borrowers, but it is not on track to help so many.
To reach its goal, the administration is adding tools to help lenders reach struggling borrowers who have lost their jobs or who are "underwater" because home values have plunged and they now owe more than their homes are worth.
In a briefing with reporters Friday, administration officials said the new efforts are not designed to help all troubled borrowers, but rather those who stand the best chance of recovering. That approach, they said, should help further stabilize the housing market and the economy at large.
"We're not going to stop every foreclosure. It wouldn't be fair. It would be too expensive, and it probably wouldn't succeed anyway," said Diana Ferrell, deputy director of the National Economic Council, which advises the president.
The administration's plan, to be implemented over several months, requires lenders to slash jobless borrowers' payments for three to six months, adopting a strategy used by the industry and applying it more broadly.
"The banks simply haven't been doing it as much as they should," said Rep. Barney Frank (D-Mass.), a longtime supporter of this approach. "The unemployed are fully deserving of this help."
Many housing advocates said they appreciated the administration's effort. But some were disappointed that parts hinge on lenders' voluntary participation.
To help underwater homeowners, lenders will be asked to reduce the principal owed on a loan if the amount exceeds the value of the home by 15 percent or more. The reduced amount would be set aside and forgiven by the lender over three years if the borrower keeps up with monthly payments.
John Taylor, chief executive of the National Community Reinvestment Coalition, said he would have preferred that the administration mandate principal forgiveness as a first step.
"I will be pleasantly shocked if investors step up for half a million borrowers," Taylor said.
But other housing experts said the government's support of principal reductions marks a significant shift from the past, when the administration feared that doing so would encourage borrowers to stop paying their loans. Now, it is backing the tactic and offering financial incentives for the first time to lenders who reduce loan principal.
"My sense is, this will change the calculus and make a difference," said Mark Zandi, chief economist at Moody'sEconomy.com. "Every lender on the planet will now be compelled to do the math."
Lenders are not forced to lower the loan debt, but they will be required to run calculations to determine whether doing so would yield the best financial return for the investors who hold the mortgages, said Julia Gordon, senior policy counsel at the Center for Responsible Lending.
In some cases, reducing the principal might be more advantageous to investors than foreclosure or common loan-modification methods, such as cutting the interest rate, Gordon said.
Of most interest to institutional investors is a new program at the Federal Housing Administration, which will help underwater borrowers who are on time with their payments refinance into cheaper FHA-backed loans. The FHA will offer incentives to lenders that reduce the amount borrowers owe by at least 10 percent.
This approach is similar to one embraced by another FHA program, launched in late 2008, which managed to refinance only 35 borrowers instead of the 400,000 originally expected.
But the new program differs from the old one, said Tom Deutsch, executive director of the American Securitization Forum.
Under the old program, if a borrower had a second mortgage on a home, that mortgage would have to be terminated for the homeowner to refinance, Deutsch said. The financial incentives offered by the government at the time were not strong enough to entice banks to do that.
The new FHA program will double the amount paid to lenders that help modify second loans and allow those second mortgages to continue. The two loans combined cannot exceed the current value of the home by more than 15 percent once the first loan is refinanced. Allowing the borrower to remain slightly underwater would be a change from the old program, which was limited to borrowers who had some equity in their homes.
"The investor community is hopeful that tens of thousands of loans could go through this program," Deutsch said. It is unlikely to attract many more than that because it is limited to borrowers who have 31 percent or less of their pretax income available for their monthly mortgages. Few underwater borrowers can meet that requirement, he said.
FHA Commissioner David H. Stevens agreed. "I would not overstate by any stretch expectations that this is going to be a huge program in the investor community," he said.
Saturday, March 27, 2010
The Obama administration Friday tried to manage expectations about its newest foreclosure-prevention efforts, while consumer advocates and others who track the housing market praised the initiative but questioned whether it would succeed in curtailing the foreclosure epidemic.
The initiative, announced Friday, expands on the government's marquee foreclosure prevention program, Making Home Affordable. That program was originally expected to reach as many as 4 million borrowers, but it is not on track to help so many.
To reach its goal, the administration is adding tools to help lenders reach struggling borrowers who have lost their jobs or who are "underwater" because home values have plunged and they now owe more than their homes are worth.
In a briefing with reporters Friday, administration officials said the new efforts are not designed to help all troubled borrowers, but rather those who stand the best chance of recovering. That approach, they said, should help further stabilize the housing market and the economy at large.
"We're not going to stop every foreclosure. It wouldn't be fair. It would be too expensive, and it probably wouldn't succeed anyway," said Diana Ferrell, deputy director of the National Economic Council, which advises the president.
The administration's plan, to be implemented over several months, requires lenders to slash jobless borrowers' payments for three to six months, adopting a strategy used by the industry and applying it more broadly.
"The banks simply haven't been doing it as much as they should," said Rep. Barney Frank (D-Mass.), a longtime supporter of this approach. "The unemployed are fully deserving of this help."
Many housing advocates said they appreciated the administration's effort. But some were disappointed that parts hinge on lenders' voluntary participation.
To help underwater homeowners, lenders will be asked to reduce the principal owed on a loan if the amount exceeds the value of the home by 15 percent or more. The reduced amount would be set aside and forgiven by the lender over three years if the borrower keeps up with monthly payments.
John Taylor, chief executive of the National Community Reinvestment Coalition, said he would have preferred that the administration mandate principal forgiveness as a first step.
"I will be pleasantly shocked if investors step up for half a million borrowers," Taylor said.
But other housing experts said the government's support of principal reductions marks a significant shift from the past, when the administration feared that doing so would encourage borrowers to stop paying their loans. Now, it is backing the tactic and offering financial incentives for the first time to lenders who reduce loan principal.
"My sense is, this will change the calculus and make a difference," said Mark Zandi, chief economist at Moody'sEconomy.com. "Every lender on the planet will now be compelled to do the math."
Lenders are not forced to lower the loan debt, but they will be required to run calculations to determine whether doing so would yield the best financial return for the investors who hold the mortgages, said Julia Gordon, senior policy counsel at the Center for Responsible Lending.
In some cases, reducing the principal might be more advantageous to investors than foreclosure or common loan-modification methods, such as cutting the interest rate, Gordon said.
Of most interest to institutional investors is a new program at the Federal Housing Administration, which will help underwater borrowers who are on time with their payments refinance into cheaper FHA-backed loans. The FHA will offer incentives to lenders that reduce the amount borrowers owe by at least 10 percent.
This approach is similar to one embraced by another FHA program, launched in late 2008, which managed to refinance only 35 borrowers instead of the 400,000 originally expected.
But the new program differs from the old one, said Tom Deutsch, executive director of the American Securitization Forum.
Under the old program, if a borrower had a second mortgage on a home, that mortgage would have to be terminated for the homeowner to refinance, Deutsch said. The financial incentives offered by the government at the time were not strong enough to entice banks to do that.
The new FHA program will double the amount paid to lenders that help modify second loans and allow those second mortgages to continue. The two loans combined cannot exceed the current value of the home by more than 15 percent once the first loan is refinanced. Allowing the borrower to remain slightly underwater would be a change from the old program, which was limited to borrowers who had some equity in their homes.
"The investor community is hopeful that tens of thousands of loans could go through this program," Deutsch said. It is unlikely to attract many more than that because it is limited to borrowers who have 31 percent or less of their pretax income available for their monthly mortgages. Few underwater borrowers can meet that requirement, he said.
FHA Commissioner David H. Stevens agreed. "I would not overstate by any stretch expectations that this is going to be a huge program in the investor community," he said.
Mortgage Servicers Who Have Agreed to Participate in the Home Affordable Modification Program
Mortgage Servicers Who Have Agreed to Participate in the Home Affordable Modification Program
Home Affordable Modification Participants are listed below. In addition, all servicers for loans owned by Fannie Mae and Freddie Mac are required to participate. Visit theLoan Look Up to determine if your loan is held by Fannie Mae or Freddie Mac.
Home Affordable Modification Participants are listed below. In addition, all servicers for loans owned by Fannie Mae and Freddie Mac are required to participate. Visit theLoan Look Up to determine if your loan is held by Fannie Mae or Freddie Mac.
| Name | Web Site | Phone | Service Address | Fax |
| Allstate Mortgage Loans & Investments, Inc. | http://www.allstateocala.com/ | P.O. 1201, Crystal River, FL 34423 | ||
| American Eagle Federal Credit Union | www.americaneagle.org | Attention: Loss Mitigation 1 Corporate Drive Lake Zurich, IL 60047 | ||
| American Home Mortgage Servicing, Inc. | www.ahmsi3.com | Attn: HAMP Processing 1525 S. Belt Line Road Coppell, TX 75019 | ||
| AMS Servicing, LLC | www.ams-servicing.com | 3374 Walden Avenue Buffalo, NY 14043 | ||
| Aurora Loan Services LLC | https://www.myauroraloan.com/ | P.O. Box 1706 2617 College Park Scottsbluff, NE 69363-1706 | ||
| Bank of America, N.A. | www.bankofamerica.com/mha/ | MHA Escalations Unit PO Box 941408 Simi Valley, CA 93094-0070 | ||
| Bank United | http://www.bankunited.com/display.asp?navid=&id=117 | Attn: Modification Department Mail Code: DO4-RESALT-560 7815 N.W. 148th Street Miami, FL 33016 | ||
| Bay Federal Credit Union | http://www.bayfed.com/lo/mortgage.html | 3333 Clares Street Capitola, CA 95010 | ||
| Bay Gulf Credit Union | http://www.baygulf.com | 3202 W. Waters Ave, Tampa, FL 33614 Tampa, FL 33614 | ||
| Bayview Loan Servicing, LLC | www.bayviewloanservicing.com | Attn: Specialized Asset Management 4425 Ponce De Leon Blvd., 5TH Floor Coral Gables, FL 33146 | ||
| CCO Mortgage | www.ccomortgage.com | 10561 Telegraph Road Glen Allen, VA 23059 | ||
| Carrington Mortgage Services, LLC | www.carringtonms.com | Attention: Home Retention P.O. Box 54285 Irvine, CA 92619-4285 | ||
| Central Florida Educators Federal Credit Union | www.mycfe.com | P.O. Box 958471 Lake Mary, Florida 32795-9814 Attn: Real Estate - HAMP Team | 407-893-5727 | |
| Central Jersey Federal Credit Union | www.cjfcu.org | 380 Berry St Woodbridge NJ 07095 | 732-726-8709 | |
| Chase Home Finance LLC | http://www.chase.com/myhomep | Regular Mail: PO Box 469030 Glendale, CO 80246 Overnight Mail Attn: Chase Fulfillment Center 4500 Cherry Creek Drive South Suite 410 Glendale, CO 80246 | ||
| Community Bank & Trust Company | www.combk.com | 125 N. State Street, Clarks Summit, PA 18411 | ||
| CitiMortgage, Inc. | www.mortgagehelp.citi.com | 866-915-9417 | Citi Ham Trial Agreements NTSB 1680, 680 Colwell Blvd Irving, TX 75039 | 866-989-1356 |
| Citizens 1st National Bank | https://www.citizens1st.com/ | 800-311-7531 | 606 S. Main Street Princeton, IL 61356 | |
| Citizens First Wholesale Mortgage Co. | https://www.cfwmortgage.com/ | 800-477-1086 | 560 Fieldcrest Drive The Villages, FL 32162 | 352-753-4482 |
| Countrywide Home Loans Servicing LP | http://my.countrywide.com/media/hasp.html | 800-669-6607 | MHA Escalations Unit PO Box 941408 Simi Valley, CA 93094-0070 | 800-596-8395 |
| CUC Mortgage Corporation | www.cucmortgage.com | 800-342-4998 | P.O. Box 12670 Albany, NY 12212 | N/A |
| Digital Federal Credit Union | www.dcu.org | 220 Donald Lynch Blvd., Malborough, MA 01752 | ||
| DuPage Credit Union | www.dupagecu.com | Attn: Alternative Loan Solutions P O Box 3930 Naperville, IL 60567 | ||
| EMC Mortgage Corporation | http://www.emcmortgagecorp.com | Regular Mail Chase/EMC Fulfillment Center PO Box 293150 Lewisville, TX 75029 Overnight Mail Chase/EMC Fulfillment Center 2780 Lake Vista Drive Lewisville, TX 75067 | ||
| Eaton National Bank & Trust Co | www.enbbank.com | 110 West Main Street, Eaton, OH 45320 | ||
| Farmers State Bank | https://farmersstate-oh.com | 11 S. Main St., P.O.Box 801, West Salem, OH 44287 | ||
| Fidelity Homestead Savings Bank | http://www.fidelityhomestead.com | 201 St. Charles Ave, 20th Floor New Orleans, LA 70170 | ||
| First Bank | http://www.firstbanks.com | 1 First Missouri Center St. Louis, MO 63141 | ||
| First Federal Savings and Loan Assoc of Lakewood | http://www.ffl.net | 14806 Detroit Ave., Lakewood, OH 44107 | ||
| First Federal Savings and Loan of Port Angeles | https://www.ourfirstfed.com/home/home | PO Box 351 Port Angeles, WA 98362 Attn: Collection Department | ||
| First National Bank of Grant Park | http://www.1st-nationalbank.com/ | 119 N Main Street, Grant Park, IL 60940 | ||
| First Keystone Bank | http://www.firstkeystonebankonline.com | 22 West State Street Media, PA 19063 | ||
| Franklin Credit Management Corporation | http://www.franklincredit.com/ | Attn: Loss Mitigation 101 Hudson Street 25th Floor Jersey City, NJ 07302 | ||
| Fresno County Federal Credit Union | http://www.fresnocfcu.com/ | 4979 E. University Ave Fresno, CA 93727 | ||
| Glass City Federal Credit Union | www.glasscityfcu.com | 1340 Arrowhead Drive Maumee, OH 43537 | 419-887-1099 | |
| Glenview State Bank | www.gsb.com | 847-729-1900 | 800 Waukegan Road, Glenview, IL 60025 | 847-832-0199 |
| GMAC Mortgage LLC | www.gmacmortgage.com | 800-766-4622 | 2711 North Haskell Ave, Suite 900 Dallas, TX 75204 | 866-709-4744 |
| Golden Plains Credit Union | www.gpcu.org | 877-775-8175 | 1135 College Drive, Suite C, Garden City, KS 67846 | 620-276-8072 |
| Grafton Suburban Credit Union | www.graftonsuburban.com | 508-839-5493 | 86 Worcester Street, North Grafton, MA 01536 | 508-839-5750 |
| Great Lakes Credit Union | www.glcu.com | 800-442-3488 | ||
| Greater Nevada Mortgage Services | http://www.gnms.com/ | 800-421-6674 | 4070 Silver Sage Drive, Carson City, NV 89701 | 775-884-7041 |
| Green Tree Servicing LLC | www.gtservicing.com | 800-643-0202 | 7360 S Kyrene Road T214 Tempe, AZ 85283 | 877-265-9717 |
| Harleysville National Bank & Trust Company | http://truebridge.harleysvillebank.com/hnb/home.php?b=24541143-0 | 888-462-2100 | 483 Main Street, P.O. Box 195 Harleysville, PA 19438 | 215-256-4903 |
| Hartford Savings Bank | http://www.hartfordsavingsbank.com | 800-844-3812 | 1400 Schauer Drive, Hartford,WI 53027 | 262-673-0459 |
| Hillsdale County National Bank | www.countynationalbank.com | 517-439-6121 | One South Howell Street Hillsdale, MI 49242 | 517-437-3151 |
| HomEq Servicing | www.homeq.com | 877-867-7378 | P.O. Box 160248 Sacramento, CA 95816-0248 | 866- 554-5325 |
| Home Financing Center Inc. | www.homefinancingcenter.com | 305-777-1171 | 806 S. Douglas Rd., Suite 580 Coral Gables, FL 33134 | 305-777-9819 |
| HomeStar Bank and Financial Services | www.homestarbank.com | 815-468-2265 | 3 Diversatech Dr., Manteno, IL 60950 | 815-468-2378 |
| Home Loan Services, Inc. | www.viewmyloan.com | 800-622-5035 | Loan Services P.O. Box 1838 Pittsburgh, PA 15230-1838 | 412-499-3400 |
| Horicon Bank | www.horiconbank.com | 920-485-3080 ext.7310 | 326 E Lake Street, PO 126 Horicon, WI 53032 | 920-485-3059 |
| Horizon Bank, NA | www.accesshorizon.com | 888-873-2640 | 515 Franklin Square, Michigan City, IN 46360 | 219-874-9374 |
| Iberiabank | www.iberiabank.com | 800-968-0801 | 1680 Fruitville Rd. Sarasota, FL 34236 | 941-556-5821 |
| IBM Southeast Employees Federal Credit Union | www.ibmsecu.org | 800-873-5100 | Attn: Mortgage Modifications PO Box 2850 Kennesaw GA 30156 | 678-797-6329 |
| IC Federal Credit Union | http://www.iccreditunion.org | 800-262-1001 | Attn: Judy Kaddy 300 Bemis Road Fitchburg, MA 01420 | 978-343-4949 |
| Idaho Housing and Finance Association | www.ihfa.org | PO Box 7899 Boise, Idaho 83707 | 208-331-4800 | |
| iServe Residential Lending, LLC | http://www.urlending.com | 1-888-875-8326 | 13520 Evening Creek Drive Suite 400, San Diego, CA 92128 | 1-480-614-6710 |
| iServe Servicing Inc. | http://www.iservecompanies.com/ | 1-214-496-9500 | 222 W. Las Colinas Blvd. Suite 1252E, Irving, TX 75039 | 1-214-496-9501 |
| J.P. Morgan Chase Bank, NA | http://www.chase.com/myhomep | 866-550-5705 | Regular Mail: PO Box 469030 Glendale, CO 80246 Overnight Mail Attn: Chase Fulfillment Center 4500 Cherry Creek Drive South Suite 410 Glendale, CO 80246 | 866-282-5682 |
| Lake City Bank | www.lakecitybank.com | 888-522-2265 | ATTN: Candy Little PO BOX 1387 Warsaw, IN 46581-1387 | 574-267-9128 |
| Lake National Bank | www.lakenationalbank.com | 440-205-8100 | PO Box 1048 Mentor, Ohio 44061-1048 | N/A |
| Litton Loan Servicing | www.littonloan.com | 800-247-9727 | 4828 Loop Central Drive Houston, TX 77081 | 713-793-4923 |
| Los Alamos National Bank | www.lanb.com | 800-684-5262 | PO Box 60 Los Alamos NM 87544 | 505-663-4053 |
| Marix Servicing, LLC | www.marixservicing.com | 866-406-2749 | 1925 W. Pinnacle Peak Road Phoeniz, AZ 85027 | 623-249-2070 |
| Members Mortgage Company, Inc | www.membersmortgage.com | 800-316-9790 | 10 Cedar Street, Suite 11 Woburn, MA 01801 | 781-376-9452 |
| Mission Federal Credit Union | www.missionfcu.org | 800-500-6328 x2074 | PO Box 919023 San Diego, CA 92121 Attn: Loss Mitigation | 858-546-2058 |
| Metropolitan National Bank | https://www.metbank.com/default.asp | 866-796-3876 | Attn: Mortgage Department P.O. Box 8010 Little Rock, AR 72203 | 501-907-8709 |
| MorEquity, Inc. | www.morequity.com | 800-441-3805 | 1) PO Box 3788 Evansville IN 47736-9984 2) 601 NW Second Street, Evansville IN 47708 | 812-475-7074 |
| Mortgage Center, LLC | www.mortgagecuso.com | 866-856-3750 | 20300 Civic Center Dr, # 403 Southfield, MI 48076 | 248-799-8556 |
| Mortgage Clearing Corporation | www.mortgageclearing.com | 800-727-9043 | ||
| National City Bank | www.pncmortgage.com | 800-523-8654 | 3232 Newmark Drive Miamisburg, OH 45342 | 937-910-4009 |
| Nationstar Mortgage LLC | www.nationstarmtg.com | 888-850-9398 | Attn: HAMP 350 Highland Drive Lewisville, TX 75067 | 214-488-1993 |
| Navy Federal Credit Union | www.navyfederal.org | 1-888-842-6328 | 3820 Follin Lane S.E Vienna, VA 22180 | 1-703-206-3055 |
| Oakland Municipal Credit Union | www.omcu.com | 510-637-6600 | 250 Frank H. Ogawa Plaza Suite 6301 Oakland , CA 94612 | 510-238-5227 |
| Ocwen Financial Corporation, Inc. | www.ocwencustomers.com | 800-746-2936 | 16661 Worthington Rd Ste 100 West Palm Beach, FL 33409 | 407-737-6174 |
| OneWest Bank | www.owb.com/mymortgage | 800-781-7399 | Indymac - 1, 2900 Esperanza Crossing Austin, TX 78758 | 866-235-2366 |
| ORNL Federal Credit Union | www.ornlfcu.com/ | 800-676-5328 | Attn: Mortgage Modification Dept 221 S. Rutgers Avenue Oak Ridge, TN 37830 | 865-481-5810 |
| Park View Federal Savings Bank | www.parkviewfederal.com | 440-914-3900 | 30000 Aurora Road, Solon, OH 44139 | 440-914-3656 |
| PennyMac Loan Services, LLC | www.pnmac.com/index.php | 866-545-9070 | Attn: Karen Denton 27001 Aguora Road, Suite 350 Calabasas, CA 91301 Attn: Karen Denton | 818-224-7510 |
| PNC Bank, National Association | www.pncmortgage.com | 800-523-8654 | 3232 Newmark Drive Miamisburg, OH 45342 | 937-910-4009 |
| Purdue Employees Federal Credit Union | www.purdueefcu.org | 800-627-3328 | P.O. Box 1950 West Layette IN 47996-1950 | 765-497-7477 |
| Q lending, Inc. | www.qlending.com | 517-439-6121 | 1 Corporate Drive, Suite 360 Lake Zurich, IL 60047 | 847-574-7658 |
| Quantum Servicing Corporation | www.quantum-servicing.com | 813-371-0270 | 6302 E. MLK Blvd., Suite 300 Tampa, FL 33619 | N/A |
| RG Mortgage Corporation | www.rgmortgage.com/mortgage | 888-264-4674 | PO Box 362394 San Juan, PR. 00936-2394 | 787-756-2845 |
| Residential Credit Solutions | 800-737-1192 | 4282 North Freeway Fort Worth TX 76137 | 888-775-7250 | |
| Roebling Bank | http://www.roeblingbank.com/ | 609-668-6500 | Route 130 & Delaware Avenue, Roebling , NJ 08554 | 609-668-6255 |
| RoundPoint Mortgage Servicing Corporation | www.rpmservicing.com/ | 877-426-8805 | P.O. Box 19409 Charlotte, NC 28219-9409 | 888-364-5558 |
| Saxon Mortgage Services | www.saxononline.com | 800-594-8422 | Saxon Attention: Home Preservation HMP Documentation Department 4708 Mercantile Drive North Fort Worth, TX 76137 | 888-240-1885 |
| Schools Financial Credit Union | www.schools.org | 800-962-0990 | C/O Real Estate Department 1485 Response Rd Suite 126 Sacramento CA, 95815 | 916-569-2047 |
| SEFCU | www.sefcu.com | 866-733-2880 | 700 Patroon Creek Blvd Albany, NY 12206 | 518-464-5213 |
| Select Portfolio Servicing | www.spservicing.com | 888-818-6032 | PO BOX:65250 Salt Lake City, UT 84165-0250 3815 S. West Temple Salt Lake City, UT 84107 | 801-293-3936 |
| Servis One Inc.,dba BSI Financial Services, Inc | www.bsifinancial.com | 866-209-4178 | Attn: HAMP Department P.O. Box 517, 314 S. Franklin Street, Titusville, PA 16354 | 814-217-1366 |
| ShoreBank | www.sbk.com | 800-905-7725 | Attn: Kenisha Davis 3401 South King Drive, Chicago, IL 60466 | 773-420-4501 |
| Silver State Schools Credit Union | www.silverstatecu.com | 800-357-9654 | 1 Corporate Drive Suite 360 Lake Zurich, IL 60047 | 847-574-7658 |
| Sound Community Bank | www.soundcb.com | 800-458-5585 ext 362 | 2005 5th Ave., Seattle, WA 98121 | 866-216-3405 |
| Specialized Loan Servicing, LLC | http://www.sls.net/ | 800-315-4757 | 8742 Lucent Blvd., Suite 300, Highlands Ranch, CO 80129 | 720-241-7526 |
| Spirit of Alaska Federal Credit Union | www.spiritofak.com | 907-459-5974 | Mortgage Dept 1417 Gillam Way Fairbanks, AK 99701 | 907-459-5980 |
| Stanford Federal Credit Union | www.sfcu.org | 888-723-7328 | Attn: Tram Le 1860 Embarcadero Road Palo Alto, CA 94303 | 866-743-3151 |
| Sterling Savings Bank | www.sterlingsavingsbank.com | 800-772-7791 | Attn: Tram Le 111 N. Wall, Spokane, WA 99201 | 509-624-8038 |
| Tempe Schools Credit Union | www.tscu.org | 480-967-9475 | 2800 S. Mill Ave., Tempe, AZ 85282 | 480-776-3729 |
| Technology Credit Union | www.techcu.com | 800-553-0880 | 2010 N First Street San Jose, CA 95131 Attn: LAD | 408-453-8742 |
| The Bryn Mawr Trust Company | www.bmtc.com | 610-687-4268 | 801 Lancaster Ave., Bryn Mawr, PA 19010 | 610-526-2450 Attn: Bill Shirdan |
| The Golden 1 Credit Union | http://www.golden1.com/ | 800-553-0880 | 8945 Cal Center Drive Sacramento, CA 95826 | 408-453-8742 |
| United Bank | http://www.accessunited.com | 1-770-412-7211 | 22818 N Main St. Ettrick, WI 54627 | 608-525-2118 |
| United Bank Mortgage Corporation | www.unitedbankofmichigan.com | 800-968-1990 | 900 East Paris SE, Grand Rapids MI 49546 | 616-559-4631 |
| Urban Trust Bank | http://www.urbantrustbank.com/ | 1-407-732-5698 | 400 Colonial Center Parkway, Lake Mary FL 32789 | 1-407-732-5698 |
| U.S. Bank National Association | www.usbank.com | 866-932-0462 | P.O. BOX 20005 OWENSBORO, KY 42304-0005 | N/A |
| Vantium Capital, Inc. | http://www.acqura.net | 866-660-5804 | 6500 International Parkway Suite 1500 Plano, TX 75093 | 972-444-3356 |
| Verity Credit Union | http://www.veritycu.com | 800-836-8172 | CU Home Mortgage Solutions PO Box 75989 Seattle, WA 98175 | 206-361-5300 |
| Visit Financial Corp. | www.vistfc.com | 1240 Broadcasting Rd. Wyomissing, PA 19605 | ||
| Wachovia Mortgage, FSB | www.wachovia.com | 800-922-4684 | 4101 Wiseman Blvd Mailcode TX 1616 San Antonio, TX 78251 | 866-359-7363 |
| Wachovia Bank, NA | www.wachovia.com | 800-922-4684 | 1000 Blue Gentian Road Suite 300 Eagan MN 55121 | 866-359-7363 |
| Wells Fargo Bank, NA | www.wellsfargo.com/homeassist | 800-678-7986 | HAMP Application Documents 1000 Blue Gentian Road Suite 300 X9999-01N Eagan MN 55121 Customer Service Correspondence PO Box 10335 MAC: X2302-017 Des Moines, IA 50306 | 866-359-7363 |
| Wescom Central Credit Union | www.wescom.org | 888-493-7266 | 5601 E. La Palma Avenue Anaheim, CA 92807 | 626-535-1357 |
| Wilshire Credit Corporation | https://www.wcc.ml.com | 888-502-0100 | PO Box 8517 Portland, OR 97207-8517 | 888-917-1050 |
| Yadkin Valley Bank | www.yadkinvalleybank.com |
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