Category Archives: Loan Modification

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Part III: Navigating the Maze of Servicing Discharged Debt

Part III: Modifications Post-Discharge Welcome to Part III of our series on the servicing of discharged mortgage debt. This part will discuss modifying a borrower’s loan after a discharge. (If you missed Part I or Part II, go ahead and catch up.) Servicers and borrowers struggle with lack of clarity regarding the nature of the relationship … Continue Reading

HUD OIG Report Could be Precursor to Increased Partial Claim Reimbursement Demands

On September 21, 2018, the Department of Housing and Urban Development (“HUD”)’s Office of Inspector General (“OIG”) completed a review of HUD’s partial claims program. In many ways, the title of the OIG audit report, “HUD Did Not Have Adequate Controls To Ensure That Partial Claim Notes for FHA Loans Were Properly Tracked for Future … Continue Reading

Mortgage-Loan Modification Scam Ends with Serious Consequences

A California man that operated as a high-level sales executive for a fraudulent residential mortgage-loan modification scheme will now spend several years in jail. From 2009 to 2016, Mehdi Moarefian (aka Michael Miller) acted as a senior sales manager for a series of California-based companies that purported to help struggling homeowners under names such as … Continue Reading

The Eleventh Circuit Issues Two Unanimous Opinions Finding No Private Right of Action Under TARP

On October 3, 2008, George W. Bush signed the Troubled Asset Relief Program (TARP) into law as part of the government’s efforts to combat the subprime mortgage crisis and shore up the faltering economy. In general terms, TARP allowed the U.S. Department of Treasury to purchase or insure up to $700 billion of troubled assets, … Continue Reading
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