Mortgage Servicer To Pay $2M In Mass. Loan Modification Deal

Law360, Boston (April 9, 2019, 3:26 PM EDT) -- A national mortgage servicing company will pay $2 million to settle allegations that it failed to help borrowers avoid foreclosure by giving homeowners “ballooning” and unaffordable monthly payments, the Massachusetts attorney general’s office said Tuesday.

Caliber Home Loans Inc. agreed to provide restitution and loan modifications to homeowners and bring its business practices into compliance with state laws in an assurance of discontinuance filed in Suffolk Superior Court in Boston.

“Mortgage servicing companies have a duty to help Massachusetts residents avoid foreclosure and stay in their homes,” said Massachusetts Attorney General Maura Healey. “Our settlement with Caliber will provide relief to...

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