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Mortgage Loan Modification Confidential Settlement

Our firm recently obtained a confidential settlement on behalf of a North Carolina individual who was wrongfully denied a loan modification required under the Home Affordable Modification Program (HAMP).  While HAMP expired in 2016, there are still additional requirements associated with modifications called for by the Real Estate Settlement Procedures Act (RESPA) as well as applicable state law claims. Many have read about all of the issues with Wells Fargo in dealing with a failure to allowed loan modifications required by law; many of which led to foreclosure of homes.

Our client filed a Complaint alleging that his modification agreement had been breached, that the bank had engaged in negligent behavior, fraud, made negligent misrepresentations, and had committed unfair and deceptive trade practices. We demanded actual and punitive damages from this bank.

After the defendant filed a motion to dismiss and the parties engaged in some limited discovery, we were able to resolve the matter confidentially. Our client was satisfied and so were we.

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