The rules of the road for residential mortgage servicing have changed significantly over the past several years and they’re about to shift again as we approach the expiration of the Treasury Department’s Making Home Affordable (MHA) loan modification and other loss mitigation programs.
This intermediate-level presentation is geared to consumer attorneys with some experience representing homeowners and borrowers but will also provide a basic overview suited to attorneys interested in adding residential mortgage servicing cases to their practices.
What You Will Learn
• Which programs are ending and when, including critical timelines and deadlines
• How to spot and address end-of-MHA problems
• What loss mitigation options are expected to look like post-MHA for non-GSE, GSE, and agency (FHA, VA, RHS) loans
• How to use federal mortgage servicing regulations to protect homeowners’ and borrowers’ rights once MHA rules and procedures are gone
Steven Sharpe is a Senior Attorney in the Hamilton office of the Legal Aid Society of Southwest Ohio, LLC, where he represents borrowers facing foreclosure and taxpayers having disputes with the Internal Revenue Service. He previously worked at the Bloomington office of Indiana Legal Services, Inc., where he started advocating on behalf of low-income homeowners in 2005 with a two-year Skadden fellowship. He is a contributing author to the NCLC’s Foreclosures and Mortgage Servicing manual on issues related to FHA-insured loans and he contributed a chapter on government insured loans to Ohio Consumer Law (2016–17 ed.). Steve is a 2005 graduate of the Indiana University School of Law where he graduated magna cum laude and was the Executive Notes & Comments Editor of the Indiana Law Journal.
Lisa Sitkin is Managing Attorney at Housing and Economic Rights Advocates (HERA) in Oakland, CA. She has been practicing law since 1997. Prior to joining HERA, Ms. Sitkin litigated civil rights, media law, and intellectual property cases and provided advice and counseling to reporters, publishers, businesses, and individuals. At HERA, Ms. Sitkin counsels individual clients, serves as a consumer advocate with lenders, loan servicers and legislative bodies, and assists with mortgage servicing, predatory, and unfair lending litigation. Ms. Sitkin has testified several times before the California State Legislature and other governmental bodies regarding mortgage servicing and foreclosure. She was one of the original drafters of the bill that ultimately became the California Homeowner Bill of Rights.