Loancare Mortgage Servicing Professionalism Is Questioned

I was informed by RoundPoint Mortgage Servicing that my mortgage has been transferred to Loancare LLC, a Servicelink company. RoundPoint is very professional. Roundpoint also informed me that my mortgage payment would decrease due to an escrow overage and escrow analysis. Loancare says they never got the memo. Loancare further stated that my mortgage payment …

Key quotes from 2012 State Of The Union address

We watched predatory lending, and watched the mortgage crisis build. Most people did not realize financial folly would lead to a crisis of great proportion, but we did. Here at Mortgage Crisis Daily we documented abuses and changes to laws that permitted abuse in mortgage and lending. At least five years have passed since the …

ResCap was one of largest subprime mortgage originators

We are starting a segment that looks at where major subprime mortgage players are today. With many of them it is easy because they don’t exist any more. I know you’ve seen television, Internet, and newpaper ads for Ally Financial, which used to GMAC. Ally Financial’s mortgage subsidiaries include Residential Capital, LLC (ResCap) Here is …

CBS confirms our claims of fraud investigation cover-ups

Eighteen hours ago, as I write this article, CBS News confirmed what our staff writers have known for years. The subprime mortgage crisis was caused by greed and economic incentives that outweighed potential fines. Then there were the fraud investigation cover-ups. “If you talk to people who work on the front lines, they’ll tell you …

Mortgage Crisis Quick Facts Update

It’s late 2011 and we look back to 2007, and where we are now. Mortgages were at the epicenter of the financial crisis that began in 2007 and resulted in more than $2 trillion in writedowns and losses at the world’s largest financial institutions based on data compiled by Bloomberg. Sales of existing homes have …