Mortgage Related Cases
Mortgage Modification Cases
Mark Anderson has represented a number of consumers who entered into agreements with mortgage companies to reduce their monthly mortgage payments only to find the mortgage company reported to the credit reporting agencies that they were late in making their monthly payments. In some cases, the mortgages were owned by Fannie Mae and were being managed by mortgage servicing companies such as One West Bank, Bank of America, and Ocwen Loan Servicing. The cases resolved with the companies agreeing to remove the late payment reports and payment of damages, fees and costs.
Short Sales and Deeds-in-Lieu Cases
When a homeowner’s house is “under water,” the mortgage companies often will agree to allow the house to be sold in a short sale or will accept a deed-in-lieu of foreclosure. In such cases, the mortgage company will sometimes send the credit reporting agencies inaccurate reports on the transaction. For example, Mark F Anderson’s clients entered into a deed-in-lieu transaction with a bank under which the bank agreed nothing would be owed after the transaction was complete. After the closing of the transaction was delayed due to no fault of the consumers, the bank reported the consumers were late in making a mortgage loan payment.