As big mortgage servicers sell off blocks of servicing rights or sell loans to toxic debt buyers who focus on liquidation and discourage modification, advocates face complex questions about what happens to loss mitigation that is already underway (or not yet started). This webinar will cover loss mitigation and modification related issues that arise when servicing is transferred or loans are sold, including:
- Transfers of servicing under HAMP
- Transfers of servicing or subservicing under the AG Settlementn Transfer of FHA-insured loansn Statutory and regulatory requirements during transfer
- Sale of loans during the modification process and changed investor restrictions on modification
(This webinar will not touch on issues of standing to foreclose under the UCC.)
Elizabeth Letcher, the Director of Litigation at Housing and Economic Rights Advocates in Oakland, California, has practiced as a public interest attorney for over fifteen years. She joined HERA in 2009, and now leads the organization’s individual and class litigation in areas ranging from predatory lending to mortgage servicing and modification issues to unfair debt collection. She has an active caseload of clients for whom she does non-litigation mortgage-related advocacy, has testified as an expert on foreclosure rescue and loan modification issues, and conducts worships and trainings for consumers and attorneys on related issues.Ms. Letcher is a 1994 graduate of Berkeley Law (fka Boalt Hall). Before joining HERA, she clerked for the Hon. Thelton E. Henderson of the U.S. District Court for the Northern District of California, and the Hon James R. Browning of the Ninth Circuit Court of Appeals, and was a Skadden Fellow at the Employment Law Center in San Francisco. Over the course of six years as an associate at a small civil rights firm and two as a private attorney working with other firms, she practiced extensively in both state and federal courts and provided business and employment advice and counseling. Her litigation has focused on challenges to government conduct and practices, employment discrimination and public benefits suits.