Now that HAMP has expired, it is more important than ever to utilize the provisions of Regulation X to ensure that servicers provide your clients with timely, thorough evaluations for all loss mitigation options. Regulation X has important protections in place for your clients in seeking options to save their homes. These actively litigated protections provide specific details and requirements a borrower must follow to eventually be entitled to relief if a servicer fails to comply. This session is for attorneys who have some familiarity with Regulation X but would like to pursue litigation under the provisions that allow for private rights of action and fee-shifting.
What You Will Learn
• How to draft and deliver Requests for Information (RFIs) and Notices of Error (NOEs) and how many is enough
• What is the need for actual pecuniary damages
• How to maximize Emotional Distress Damages
• What constitutes “Reasonable Diligence” and how to use that in your claims
• What are the Servicers’ obligations under 1024.41
Andrea Bopp Stark is an attorney at Molleur Law in Biddeford, Portland, and Auburn, Maine. Her work focuses on helping consumers who are overwhelmed with debt. She practices consumer rights litigation in the Bankruptcy, Federal, and State courts, including actions for automatic stay and discharge injunction violations, unfair debt collection practices, inaccurate credit reporting, mortgage servicing abuses, and foreclosure defense. Andrea was the Brooks Consumer Law Fellow through the National Consumer Law Center from 2006 to 2007 and joined Molleur Law in January 2008 after working for many years for Legal Aid in Massachusetts. She graduated from the University of Vermont in 1991 and from Boston College with a Masters in Social Work and Juris Doctorate in 1997. She is admitted to practice law in Maine, New Hampshire, and Massachusetts.