Editor’s Note:  Today Housingwire.com published an article that the CFPB is investigating Ocwen while an article posted the same day about a housing advocacy group praises Ocwen as, “an example of how servicers help to keep borrowers in their homes.”  These conflicting stories demonstrate why homeowners are not obtaining relief as investors, servicers and governmental […]

Tags: deliberate foreclosure, Engineered Default
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Servicers are creating the illusion of defaults by manipulating the escrow accounts even when no escrow account exists. So even where there is no agreement for the “lender” to maintain an escrow account, they will create one anyway and engineer circumstances to make it seem like a default occurred not just in the “escrow account” […]

Tags: Engineered Default, escrow, forced placed insurance, interest, Manipulation of Escrow, PITI, principal, taxes
Posted in Uncategorized |