MFI-Miami Blog

Veteran Sues Nationstar Mortgage AKA Mr Cooper For Putting Him In Foreclosure After Reneging On Modification Deal John T. Baldy II  filed a lawsuit in West Virginia against Nationstar Mortgage aka Mr Cooper. Baldy a veteran living in Charleston. He alleges breach of contract and other counts. The veteran claims the mortgage servicer failed to modify a loan. As a result, they placed Baldy’s home into foreclosure. He also alleges Nationstar aka Mr Cooper violated FHA/VA guidelines. The suit states that the plaintiff obtained a VA loan for the purchase of a home on March 29, 2006. Baldy was married when he secured the loan. However, he and his wife divorced. The lawsuit alleges Nationstar aka Mr Cooper was assigned ownership and servicing of the loan in 2015. The plaintiff alleges he experienced hardship in 2017. As a result, Nationstar offered Baldy a loan modification in September 2017 and he accepted. Baldy alleges the Nationstar aka Mr Cooper breached the agreement an...

AIME Accuses Quicken Loans And Other Major Retail Lenders Of Scamming Veterans On VA Loans The mortgage trade group AIME is claiming that Quicken Loans and other lenders are taking advantage of VA borrowers. Association of Independent Mortgage Experts CEO Anthony Casa alleges lenders are overcharging them for their mortgages. and overcharging them for their mortgages. HUD, Ginnie Mae, and the VA are investigating lenders. The government is investigating the lenders for targeting service members and veterans for quick and potentially risky refinance deals. The investigation has led to some lenders being  booted  from Ginnie Mae’s primary mortgage securities platforms. In addition, some lenders are also  being restricted  for questionable conduct. Casa accuses lenders of charging veterans as much as 20% higher for a mortgage in a  lengthy post on LinkedIn The AIME CEO also names the culprits. Casa accuses Quicken Loans, Movement Mortgage, ...