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Mortgage fraud can mean big bucks for conmen but if caught and convicted it will result in long jail terms. MFG takes a look at some recent court cases Nine members of a Birmingham-based mortgage fraud gang were jailed in April 2016 for a 4.4 million fraud. However, it has now emerged the fraud.

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 · My Mortgage was sold to Selene Finance in August 2018, according to agreement with them my mortgage payment included principal, interest and taxes, total about $600 monthly, after a couple of months they started charging $713, I called them a lot of times, spending countless hours on a phone, wrote countless emails, send 5 times proof of insurance, tried to dispute the amount of money.

One of the duties of a mortgage servicer is to collect and process payments from the borrower. However, in some cases, a mortgage servicer may: improperly apply funds (in violation of the terms in the mortgage contract) ignore a grace period, and/or. fail to credit funds to the account.

What gives my mortgage company the right to hold my I have a leak in my shower that is seeping into my bedroom my insurance company settled the claim for $2497.75. i have a contractor who has agreed to take care of all.

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If you fail to make one or more payments on your mortgage loan, your loan is in default. The servicer may then order "default-related services" to protect the value of the property. These services may include property inspections to make sure you are still living in the home and maintaining the property.

NY Banking Dept Reaches Servicing/Foreclosure Practices Agreement with Goldman, Litton, Ocwen

Coastal States Mortgage Corporation (Coastal). Mansell was sentenced to a statutory maximum penalty of five years in prison, followed by three years of supervised release by U.S. District Judge Robin S. Rosenbaum. Mansell previously pled guilty to conspiracy to commit wire fraud to defraud government sponsored entities, Fannie Mae and Freddie Mac.

If you fail to make your mortgage payments each month, your bank or mortgage lender may take action to repossess your home.. or send you a notice in the mail regarding your failure to pay on time.. Before creating this blog, Colin worked as an account executive for a wholesale mortgage.