Our Private Members are joining a foreclosure CFPB lawsuit, suing mortgage lenders in federal court.

URGENT NOTICE: NOT READING THIS COULD FORFEIT A MONETARY AWARD OF UP TO $10,000!

You could be entitled to money! Act Now, the time may be limited.  While the Dodd Frank Act can’t undo what has been done, it does allow for some level of financial relief. With our Consumer Financial Protection Bureau audit and federal lawsuit; for every incident we identify, the settlement for your mortgage lawsuit could increase up to $2000.  In most cases homeowners were violated 3 to 5 times.

What are the qualifications to file this federal lawsuit against your bank?

Have you reached out to your lender or servicer for help with a Loan Modification, Short Sale, Foreclosure Alternative, or any other Loss Mitigation program? If so you could be eligible to sue your bank, and may be entitled to receive monetary compensation.

Due to recent legislation with the Dodd-Frank Act, we have identified major violations that lenders and servicers have committed against homeowners who have attempted to get help or are currently trying to get help.  Whether you received a modification of your mortgage, or even if you have lost your home you still may still have grounds to file our lawsuit.

Don’t miss this opportunity to see if you’re eligible to receive a monetary award. Time may be limited so act today.

To take advantage of this opportunity become a member of FRAUD STOPPERS Private Members Association today for only $97 by Sue My Bank!

CFPB has published the 2013 CFPB Dodd-Frank Mortgage Rules Readiness Guide to help financial institutions come into and maintain compliance with new mortgage rules. On January 10, 2014, the CFPB mortgage rules went into effect pursuant to its authority under Dodd-Frank.

Despite the laws and protection provided to home owners under the Dodd-Frank Act enforced by CFPB, homeowners continually find themselves denied the help they need, often times losing their homes to foreclosure.

Lawsuits are now being filed daily against mortgage lenders and servicers who have violated the Dodd-Frank act including those who became a hindrance to homeowners at the time when they needed help the most. But even if the homeowner has already lost their home, they can potentially still be entitled to compensation due to violations committed against them. This act can elicit awards of up to $2000 per violation.

If help has been sought out from roughly November 2013 to present day, it is likely that one or more violations have been committed against the homeowner. We are now aggressively helping pursue lawsuits on behalf of homeowners who have been a victim of these violations. Beneficiaries of compensation for these violations can include the homeowner as well as the real estate short sale professional that assisted with the short sale documentation.

  • When you submitted a loss mitigation package, did the lender/servicer send written notification within 5 business days stating whether the package is complete or incomplete? If incomplete, did the letter give a complete list of documents still needed?
  • Has the lender/servicer asked you to repeatedly send in the same documentation over and over again claiming they never received it?
  • Did the lender/servicer take longer than 30 days to notify you of the outcome of your submission?
  • Did the lender/servicer attempt to move forward with foreclosure, and/or issue a sale date while the borrower was under review for any loss mitigation programs?
  • Did the lender/servicer put Forced-Placed insurance on the property? If yes, is this what caused the borrower to fall behind on payments?
  • Did the lender/servicer foreclose on the property while in a loan modification trial period?
  • Did the lender/servicer send the borrower written notification prior to foreclosure within 45 days of delinquency?
  • Did the lender/servicer send an improper notice of loan modification denial?
  • Was there a decision of loan modification appeal within 30 days?
  • Did you receive a submittal of a Payoff Statement?

 

To take advantage of this opportunity become a member of FRAUD STOPPERS Private Members Association today for only $97 by clicking here

 

What is the Dodd-Frank Act?

It’s a law that is designed to protect consumers from unethical banking tactics which states if banks do not respond in a timely fashion to help the homeowner with a Short sale or Loan Modifications request, the bank can be subject to a $2000 fine per violation.

 

What is the average amount of a settlement?

Most homeowners have an average of five violations which can yield up to $10,000 in financial compensation. Violations can include but are not limited to wrongful foreclosure, losing out on a potential buyer due to the banks’ untimely responses and moving forward with foreclosure while a loss mitigation package is under review.

 

How do we prove a violation occurred?

We need some verifiable evidence a violation occurred like tracked submission packages, dated letters from the servicer, or even evidence found in the note history of a file. We then further prove these violations, as well as new violations through discovery. This gives the firm the authority to demand that the bank turn over all their loss mitigation records.

 

Is this compliant?

Yes! There is no money, nor any upfront charge to the client. All services, including legal are provided on contingency basis and are only awarded to any party contingent upon the successful completion of a monetary award. Additionally, the attorney fees are paid separately by the servicer under CFPB statutes and are not shared.

 

Why are we so confident we can resolve these cases?

Experience! We have already worked with hundreds of homeowners to recover fines and damages. We have filed, and the law firm has successfully resolved hundreds of cases with many mortgage servicers, while working hand in hand with our recovery firm.

 

What do you need from me to get a case started?

Proof that a loss mitigation package was submitted or under review after January 10, 2014. We have found potential violations in most files.

 

John Doe vs. Bank of America*

Examples of the violations of Regulation Z, and 12 C.F.R. § 1024.41 are as follows:

A complete package was submitted to the bank and they did not respond in writing within the 5 day allotted time frame. The bank also repeatedly requested documentation that was previously sent to them. They also continued with the foreclosure process while a loss mitigation package was under review which is duel tracking. Once a complete package is received by the bank they have 30 days to review it and either approve or deny the request. Unfortunately, Bank of America did not follow this protocol and took over 2 months to make a decision which was a violation. Due to the multiple violations committed by Bank of America John Doe was awarded $12,455. The process took 4 months from start to finish.

 

Jane Doe vs. Ocwen*

Examples of the violations of Regulation Z, and 12 C.F.R. § 1024.41 are as follows:

A complete package was submitted to the bank and they did respond in writing within the 5 day allotted time frame, but the 5 day letter was noncompliant. The letter only stated the package was received. In order for the letter to be compliant it must say whether the package was complete or incomplete. If the package is incomplete it must state the documents that are missing for the bank to review the file. The bank also foreclosed on the property while the loss mitigation package was in review which is a major violation. The bank did rescind the sale and approved the modification, but the approval was done outside the 30 day allotted time frame. Jane Doe was awarded $10,000 for the violations committed against her. Due to all the documentation being provided in a timely manner to our firm, this process only took less than 3 months to complete.

 

John Doe vs. Wells Fargo

John was in a short sale negotiation with Wells Fargo. Once the file was submitted to the bank they did not respond within the 5 day time frame. The bank did approve the price at $140,000 but continued to request more and more documentation from the homeowner. Subsequently, the bank prolonged the process for about 4 months which ultimately forced the buyer to walk away from the deal. The seller found another buyer for the property. This process did run a little smoother, but the bank still committed violations during this process as well. The property eventually sold and the homeowner was awarded $14,000 by the bank due to the violations committed during both short sale negotiations. This process took 4 months to complete once the file was submitted in federal court.

 

To take advantage of this opportunity become a member of FRAUD STOPPERS Private Members Association today for only $97 by clicking here

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For information on foreclosure defense call us at 844-372-8378. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.

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DISCLOSURE: THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. Legal Information is NOT Legal Advice: This site provides “information” that is only designed to help users safely cope with their own general legal needs. Legal information is NOT the same as legal advice — the application of law to an individual’s specific circumstances. FRAUD STOPPERS is a National Private Members Association (PMA). PLEASE TAKE NOTICE OF THE FOLLOWING MARS Disclosure[s] 12 C.F.R. 1015.: (1) FRAUD STOPPERS PMA is NOT Affiliated with any Government Agency or Any Bank Lender; (2) Even if YOU Accept any of  FRAUD STOPPERS PMA Products or Services Your Lender May Choose to NOT Change Your Loan.  FRAUD STOPPERS products and services are only available to Active Members of the FRAUD STOPPERS PRIVATE MEMBERS ASSOCIATION. To join FRAUD STOPPERS PMA click here: https://www.fraudstoppers.org/members-only/

 

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