DOWNLOAD ~ Strict Courts Create Servicer Headwinds (Servicing) ~ by Bruce J. Bergman ~ eBook PDF Kindle ePub Free

eBook details

Title: Strict Courts Create Servicer Headwinds (Servicing)
Author : Bruce J. Bergman
Release Date : January 01, 2011
Genre: Industries & Professions,Books,Business & Personal Finance,
Pages : * pages
Size : 49 KB

Description

No one need be reminded that servicing can be a tough business. Recently, this already difficult pursuit was made all the more challenging by a host of new federal and state statutes, rules and regulations designed to aid borrowers and impose myriad requirements on the foreclosure process. These vary of course from state to state, but the wariness expressed here is that judicial interpretation of the statutes may be akin to the messianic, mandating remarkable strictness and thereby leaving not an inch for possible servicer miscues. This is hardly welcome. While this excursion will not be a review of all statutes in every state, it will mention some New York impositions as an example to highlight the possible peril. Underlying all this is the apparent legislative view that borrowers neither recognize nor understand the consequences of defaulting on a mortgage, thus leaving them at a disadvantage. The remedy of some statutes, therefore, is to require extensive notice provisions so borrowers may presumably rescue themselves from their plight.