Tag Archives: Lender

Kramer Kaslow: Home Mortgage Servicer Sues Lender in Unprecedented Law Suit

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Calabasas, CA (PRWEB) May 31, 2011

Consolidated plaintiff litigation attorney Philip A. Kramer announced recently that One West Bank, a servicer of home mortgages, is suing a lender, HSBC, in order to prevent them from foreclosing on homeowner Pamela Jeter. (One West Bank, FSB vs HSBC Bank Association, as trustee of the Deutsche Alt-A Securities Mortgage Loan Trust, Series 2006-AR5; United States District Court, Southern District of New York; Case 1:10-cv-04855-SHS).

News sites such as Propublica.org are weighing in on the suit. The suit is remarkable not only because it seems unique — close observers said they hadn’t seen another example of a servicer going to court against a trustee — but also because it lays bare a relationship that is usually a mystery to homeowners and investors in securitized mortgages, said Propublica.org representatives.

Philip Kramer, an attorney and senior partner at the law firm of Kramer & Kaslow as well as a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession also weighed in on the suit. In all my years of practicing law, I have never seen anything like this, says Philip Kramer. I have seen lenders deny people before. I have seen paperwork get lost. I have seen all kinds of things, but what happened next was a first even for me. For a servicer to sue the noteholder? That is unheard of!

ABOUT PHILIP KRAMER

PHILIP A. KRAMER is the senior partner of the Law Office of Kramer & Kaslow, in Calabasas, California. Kramer & Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on business litigation, and real property matters. He has prosecuted and defended cases for over twenty five years.

Mr. Kramer is a licensed real estate broker and has spent considerable time providing legal services in connection with real estate issues relating to loan modification and loss mitigation, land use and zoning, environmental issues, easements, construction and development, finance, and landlord tenant matters.

Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 cases. He has appeared on nationally televised programs regarding pre-trial procedure and trial strategy and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of various legal and business issues.

Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in many companies. For more information call (818) 224-3900 or visit http://kramer-kaslow.com

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Rekon Installs Additional Assignment Software for Top Three Lender

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Pasadena, CA (PRWEB) September 30, 2011

Rekon Technologies, the leading provider of advanced lien release, assignment processing and document preparation software for mortgage servicers, has installed the latest edition of its Rekon software for one of the top mortgage lenders in the nation, enabling the lender/servicer to avoid any backlogs in its rapidly increasing mortgage assignment volume. The top lender, a Rekon software user for lien releases and mortgage assignments since 1997, completed more than 125,000 assignments in the first full month with the latest edition of the Rekon software system installed. The Rekon lien release and assignment software is seamlessly integrated with any servicing software system.

With the escalating volume of foreclosures today, mortgage servicers need to quickly straighten out the chain of title and establish a clear and clean title for delinquent properties in the assignment of mortgages, which ensures successful foreclosure proceedings by publicly documenting the owner of record and safeguarding the right to foreclose. By installing Rekons software the top three lender will avoid costly backlogs of mortgage assignments that can delay loss mitigation efforts. Rekon software quickly and accurately creates assignments for lenders and servicers in the more than 3,600 recording districts in all 50 states. The software maintains an up-to-date status on the regulations and requirements for preparing lien release and assignment documents in all recording districts nationwide.

Additionally, Rekon can electronically record assignments in more than 650 counties in the 36 states that offer eRecording for mortgage documents. With its eRecording capabilities, Rekon software can dramatically reduce manual assignments and assignment expenses. A recent lender analysis shows that up to 45 percent of servicers assignment volume, depending on their loan portfolios, could be transmitted electronically today.

Senior executives at the top three lender praised the quality of Rekons software features and noted that the delivery, installation, testing and go-live process for the software system was fast, easy and uncomplicated, taking little more than a month. Rekon ensured an efficient and seamless transition for our internal team members responsible for the project, said a senior executive who requested anonymity. The Rekon software also is extremely helpful when working with our business partners in the foreclosure process.

Aurora Marsh, CEO of Rekon Technologies, said, Rekons software is used by the largest servicers in the country and it consistently and accurately handles the growing volume of mortgage assignments facing the industry without a need to outsource, thus giving servicers and lenders of all sizes direct control over their assignment preparation costs. By installing the latest edition of the Rekon software, our top tier lender customer can avoid any backlog of assignments and safeguard its right to foreclosure and sell or transfer loans, including pools of loans, with clear and clean titles.

About Rekon Technologies

Rekon Technologies provides advanced software solutions to loan servicers and lenders that prepare, record, manage and track loan documents, such as assignments, lien releases, UCC terminations and trailing documents, among others. Rekon software is used by the largest servicers in the industry and is designed to handle growing volumes of document preparation and recording in the more than 3,600 recording districts in all 50 states. The companys flagship product and namesake Rekon is a fully automated system for document preparation and management, integrated with imaging and eRecording capabilities, that processes loans from payoff to recording in a paperless environment from anywhere in the world. Rekon also offers DokTrak, the most versatile document tracking and data warehouse technology product available for managing documents in the gap between origination and servicing, resolving issues in post-closing and file certification for securitization. Rekon Technologies is based in Pasadena, California. For more information, please visit http://www.Rekon.com/.

Press Contacts

Rosalie Berg

Strategic Vantage Marketing & Public Relations

PR(at)StrategicVantage(dot)com

(305) 971-5352

Marshall Taylor

Strategic Vantage Marketing & Public Relations

MarshallTaylor(at)StrategicVantage(dot)com

(410) 867-1093

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Avenue 365 Lender Services Adds Shegun Onakomaiya as Vice President of Business Development for its Default Services Division.

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Plymouth Meeting, PA (PRWEB) December 01, 2011

Avenue 365 Lender Services has announced Shegun Onakomaiya as its new Vice President of Business Development for its Default Services Division. Avenues Default Services Group has been growing exponentially since its inception earlier this year. Onakomaiyas role will be to expand the client base and find additional ways in which Avenue can serve its existing clients.

Onakomaiya spent 8 years at Citigroup Global Markets, Inc., most recently as a transaction manager in the acquisition and securitization desk. As such he has deep and firsthand experience from the customers perspective. He has interacted with dozens of asset managers, hedge funds, investors, and servicers, and plans to bring those contacts and solid relationships to his role at Avenue.

Our Default Services Group has grown by almost 100% every month since inception. I believe that Sheguns experience, great reputation in the default space, and extensive contacts will assist us in continuing that growth. Our team brings unparalleled customer service, true knowledge of collateral and title issues, and a commitment to partnering with our clients for smoother transactions. Shegun will take that message to the street and we believe the result will be phenomenal for us and our clients, said Ryan Peterson, President and CEO of Avenue 365.

Avenue 365 Lender Services is a customer-focused, technology-inspired national title insurance and settlement services provider with an unwavering commitment to provide every consumer, originator, and lender with an unparalleled experience with every loan closing. They conduct business in all 50 states for both Origination Services and Default Services. Their customers include national mortgage banks, lenders, retail mortgage brokers, asset managers, investment funds, REO managers, and servicers. To learn more visit http://www.avenue365.com.

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Lance Denha Discusses Lender of The united states Announcement to Widen Its Principal Reduction Choices

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(PRWEB) Might 16, 2012

Lender of The usa introduced last 7 days that it has started sending letters to countless numbers of homeowners in the United States, providing to forgive a portion of the principal stability on their home loans by an believed average of $ a hundred and fifty,000 every. This reduction for qualifying house owners could quantity to monthly cost savings of up to 35 p.c on mortgage loan payments, Financial institution of The us stated in a news launch on May seven, 2012.

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The principal reduction delivers from Financial institution of The united states House Financial loans are the immediate result of a $ twenty five billion settlement settlement previously this yr with 49 state lawyers general as properly as federal authorities who had been investigating allegations of abuses over the dealing with of foreclosures, as reported in March of this 12 months by the Linked Press. To the extent principal reduction and other modification instruments assist us flip mortgages headed for feasible foreclosures into long-phrase doing loans, it will be good for property owners, mortgage loan buyers and communities, Ron Sturzenegger, a legacy asset servicing government, stated in the assertion. Lance Denha, Esq. of the Regulation Places of work of Lance Denha commented nevertheless that The banking companies concerned have up to three many years to fulfill the provisions of this settlement although there are incentives for banking companies to help home owners in the initial twelve months.

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Financial institution of America said it planned to contact more than two hundred,000 homeowners who could be candidates for the provides, sending letters to a vast majority of them by the third quarter of this year. To be suitable for the principal reductions, nevertheless, property owners will have to meet specific conditions, like: getting a loan owned or serviced by Bank of The us owing a lot more on the mortgage than their residence is worth and getting at the very least 60 times driving on payments as of the stop of January. Mr. Denha was swift to be aware, Catering only to these borrowers 60 days or more powering on payments has the added gain to Financial institution of The united states to keep away from any potential authorized hurdles in circumstances where shoddy paperwork helps make it difficult for them to demonstrate it owns the mortgage loan and has the appropriate to foreclose. Its a strategic move by Bank of The united states to assist individuals property owners that it at first attempted to foreclose on during the Robo-signing period of time that resulted in the settlement. Many of the first troubles and irregularities nonetheless exist. The Connected Push observed at the time of the settlement that Bank of The us experienced the largest financial obligation under the settlement at $ eleven.eight billion.

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The base line is this, claims Lance Denha, Those who help them selves do well much more than they fall short. Those who are conditioned to waiting around for the condition or federal govt to make the financial institutions do the proper issue are probably to locate themselves with number of possibilities. The clever homeowner is presently pursuing his lender in the appropriate medium: the courtroom. He is nicely-ready, normally has retained an lawyer, has the proof of a securitized financial loan audit and can prove his scenario.

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The Regulation Place of work of Lance Denha P.A. is dedicated to make sure that each feasible avenue is pursed so that the property owners authorized rights are preserved. Actively monitoring the at any time modifying landscape of foreclosure regulations, recent foreclosures throughout the nation as well as point out imposed rules and methods related with foreclosure, is essential to ensure and safeguard these rights. The Legislation Workplaces of Lance Denha P.A. is a multistate legislation agency and assists lawfully defend wrongful foreclosure actions and make use of any and all lawful techniques obtainable to assist achieve preserving house owners legal rights. For further details or help, please get in touch with at 954-840-0770.

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Lender Answers Team Adds New U.K. Associate, Tony Ward

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Atlanta, Ga (PRWEB) June 10, 2013

Financial institution Solutions Team, LLC (BSG) declared today that Tony Ward has joined the consulting company as a companion based in the U.K.

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Tony provides to our organization enormous monetary solutions market encounter as a CEO and advisor, says BSGs Senior Taking care of Associate Les Riedl. He is recognized as an market chief and innovator, with in depth treasury, funding, chance management and regulatory skills. We are very delighted to have him be part of our consulting staff and appear forward to leveraging his skills to aid consumers throughout North and South The united states as effectively as Europe.

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Its a demanding time for the fiscal services sector, stated Ward. Bank Solutions Group has brought jointly the global expertise and complex ability to support companies navigate through this to make sure innovation, accomplishment and optimizing shareholder benefit. So Im excited to be joining that group.

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Ward is U.K. based and has been in banking and finance for much more than 35 years, the final sixteen at the CEO level. In the eighties he was dependable for developing one of the UKs first securitization funded home loan loan providers. Much more just lately, he recognized a start off-up loan provider for WestLB. Ward is a recurrent conference speaker and adviser on retail banking, organization technique, household home loans, treasury, funding, risk management and regulatory matters. Given that the credit rating crisis, Tony has grow to be a go to particular person to explain and interpret the implications of these marketplace and regulatory adjustments for funding, danger management and business method.

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About Lender Options Group, LLC&#thirteen

Lender Remedies Group, LLC is a administration consulting agency that will help banks, credit history unions and other monetary providers customer-companions in assembly complicated business problems to achieve larger performance and achieve aggressive advantage. BSG is headquartered in Atlanta with associates in 8 U.S. cities and has a international presence with groups dependent in eleven nations in North America, South The usa, Europe and Asia Pacific.

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