Foreclosure Mediation Discussion Group

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Foreclosure Mediation Discussion Group

Information and discussion on foreclosure mediation under Washington's Foreclosure Fairness Act. An open public forum on best practices, current trends, new information.

Open to any registered member of the wsba-adr.org network.

Members: 82
Latest Activity: Feb 23

See the Resources & Links page to see links to useful resources about foreclosure mediation in Washington, including Commerce's new FFP Guidelines as of January 2015.

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This is an open public forum hosted by the WSBA ADR Section for discussion of matters regarding foreclosure mediation. All opinions and comments expressed in this group  represent the views of the individual contributors and do not necessarily have the endorsement of the WSBA, the Alternative Dispute Resolution Section, or the officers or other members of either organization. It is moderated according to WSBA Social Media Guidelines and our Network Rules. Please read Using the Network.

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Discussion

Unrepresented borrowers

Started by Lori Scott. Last reply by Sherman L. Knight Aug 25, 2015. 3 Replies

Hi to all - at the last telephone conference, I asked if any of you have issues with folks not being represented and being pressured by the attorney for beneficiary, to close out in bad faith because of the lack of representation. I was also…Continue

Bank won't sign DRC mediation agreement

Started by Steve Olsen. Last reply by David K. Hiscock Jun 30, 2015. 8 Replies

I volunteer with the kitsap DRC. I have my first referral from dept of Commerce. The Kitsap DRC was setting up the mediation for me. It's tentatively set for 10/18.However, the bank won't sign the DRC's mediation agreement. their attorney says the…Continue

NVP - Does anyone use it?

Started by Sherman L. Knight. Last reply by Jeff Bean Nov 24, 2014. 4 Replies

In the typical case I have, the beneficiary provides an NPV analysis as part of its analysis when there has been a denial of a modification.  In only one of my cases has anyone contested the NPV analysis.   In that case, the borrower represented…Continue

Thoughts on King 5 Report on "Bad Faith" Banks

Started by Jeff Bean. Last reply by Jeff Bean Nov 20, 2014. 7 Replies

(Updated to correct expired link to the article below.)King 5 investigations learns there have been a number of lack of good faith certifications. …Continue

Washington Supreme Court's Roadmap for Filing Pre-Sale CPA Lawsuit

Started by Jeff Bean Sep 19, 2014. 0 Replies

Yesterday the Washington State Supreme Court published it's opinion in …Continue

VA Loan Modification Issues

Started by Francois Fischer Aug 22, 2014. 0 Replies

Has anyone dealt with the VA preventing a loan modification for a vet by fouling up the vet's benefits?  I have a case in which a disabled vet is trying to prevent foreclosure of his house, but can't get the servicer to approve a loan modification…Continue

Comment Wall

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Comment by Douglas Brown on March 8, 2012 at 9:24am

Except for Section 12, I don't see any language which would get the majority of these changes to take effect sooner than this summer.  Am I correct on that?

 

Comment by Jeff Bean on March 7, 2012 at 10:12am
Comment by Jeff Bean on March 6, 2012 at 5:26pm

Rep. Orwall just informs that the FFA amendments, amended onto HB 2614, just passed the house. 

Comment by Jeff Bean on March 6, 2012 at 10:13am

The FFA technical fix amendment bill looked like it was a casualty of last Friday's parliamentary maneuvers. It has since been amended to another bill that's still in play. Click here to track the old FFA amendment bill; it's been amended to HB 2614 which you can track here

Comment by Jeff Bean on January 30, 2012 at 6:08pm

The bill coming out of the all-stakeholder group that met over the holidays is making its way through the House. It includes establishing immunity for all mediators and makes some significant improvements to the mediation process and NPV calculations. See the bill tracker here.

Comment by Jeff Bean on November 30, 2011 at 7:13pm

The URL for the FDIC Loan Modification Program Guide ("Mod in a Box") is now returning a 404 File Not Found. Searching FDIC's site still shows it as the correct URL. Can anyone advise where FDIC put it?

Here's the address that 404s now:

http://www.fdic.gov/consumers/loans/loanmod/loanmodguide.html

Comment by Jeff Bean on November 29, 2011 at 4:10pm

FFA has been codified in Chapter 61.24 RCW. Find links on the Resources and links page. Of most interest will be RCW 61.24.163 (formerly Section 7 of the session law).

Comment by Judith Eiler on November 17, 2011 at 1:27pm

It has been my experience in 5 mediations that the lender's representative does not want to bring the NPV.  There is always some excuse.  I tell them that they send the NPV (they can attach all the objections, limitations, or other language that they want but the NPV comes or a bad faith ruling goes to the Dept. of Comm.  It is surprising how fast I get an NPV and 2 pages of objections and gripes about how it doesn't apply.  They do not like them but if required they will send them

Comment by Sherman L. Knight on November 17, 2011 at 11:30am


I send a letter to the parties before the mediation. It typically includes a
request for the NVP and a link to the website that has the calculator or I send
a copy (attachment) of the spreadsheet we received at the training. 



I ask the lender to do the math and come prepared.  I have never had a problem with the lender and NVP.  

Sherman



Sherman

Comment by Steve Olsen on November 17, 2011 at 10:07am

John:

How are you & others handling the lender's failure to provide the NPV? I'm hearing that this may be a pattern

 
 
 

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