The levy of fines works directly with our single message: to have a check on servicer underwriting and denial of HAMP modifications with a neutral third party. The fines can be based on declined loans that in fact did qualify for a HAMP modification. The "Escalation" process is one area where we think the neutral third party concept works. When a file is declined, it will be redone from the start by a neutral third party. If in fact that homeowner did qualify, the servicer would be fined. If the trial mod goes over 120 days, the file would move to neutral third party for underwriting - and the servicer would be fined. If after a long period on a trial with no permanent mod or a decline, an applicant can "Escalate." If they qualify, the servicer would be fined.
Our single message of a neutral third party would allow for a process of determining fines.
We must put a large group of people together quickly. Hearings in the Senate and house will start in March on this subject and we have to be ready with our single message. Will the (Target) be at the hearing today – or tomorrow? I am an angry homeowner who is losing my home. I have done everything asked of me. I do not trust the bank and want a neutral third party to review my file. We Need Change Now!
Send and email to firstname.lastname@example.org with "We Need Change Now" in the subject line. I will reply with the full strategy.
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