[*1] U.S. Bank, N.A beneficial. v Rodriguez 2013 New york Slip Op 232 Supreme Courtroom, Bronx State Torres, J. Written by Ny County Laws Reporting Agency pursuant so you can Judiciary Legislation 431. This viewpoint try uncorrected and payday loans Crooked Creek you will at the mercy of up-date in advance of publication during the the released Formal Account.
Rodriguez preserves your plaintiff have not offered a prompt decision on their loan mod software one to comports into the relevant federal House Affordable Modification Program (HAMP) advice
Shapiro, DiCaro & Barak, LLC, Rochester, Ny (Scott Ferraro, Esq., from counsel) to the Plaintiff ; Legal advice New york-Bronx, Bronx, New york (James J. we, Esq., of the recommendations) toward Accused.
Within this property foreclosure action, the newest defendant Jorge Luis Rodriguez (Rodriguez) seeks an order, pursuant to CPLR 3408 and Uniform Municipal Laws , discovering that the new plaintiff You. S. Bank, N.
Particularly, Rodriguez claims one Wells Fargo mishandled and you can misapplied this new HAMP guidelines concerning his qualifications having HAMP. Thus, Wells Fargo materially broken the fresh new HAMP assistance, and you will shown too little good faith. Thus, Rodriguez is seeking an order that: (1) directs United states Bank so you’re able to procedure and you may P advice; (2) tolls the newest accrual of interest, late fees and you may Us Bank’s counsel fees until instance big date because the brand new legal find your plaintiff is during compliance having CPLR 3408; and you can (3) tolls this new accrual of interest, later costs and you will You Bank’s the recommendations costs retroactively of . Plaintiff opposes the actions, and you may claims it offers very complied into HAMP direction.
The usa Agencies from Treasury (DOT) situated HAMP pursuant to Parts 101 and you may 109 of your own Disaster Financial Stabilization Operate away from 2008 (twelve USC 5201-5261). HAMP was created to avoid preventable property foreclosures by the incentivizing loan servicers to attenuate the mandatory month-to-month home loan repayments without a doubt having difficulties residents. In system, servicers is actually obliged to help you stay glued to recommendations promulgated of the Dot whenever determining a mortgagor’s qualification to possess a long-term mortgage loan modification (look for United states Dept. of Treasury, And make Household Reasonable Program, Handbook to own Servicers away from Low-GSE Mortgages, at the 27 []). The fresh Health spa provided an effective “Program Paperwork,” and this established advice, measures, rules, papers, and you can directives issued of the Mark, Federal national mortgage association, otherwise Freddie Mac concerning new requirements regarding using servicers.
To start with, the latest HAMP Tier 1 program is create to aid individuals who are unpaid on their mortgage loans for their primary residence or against certain threat of default. Consumers inside the likelihood of defaulting to their mortgages may then implement for the system, while the financial servicer contains the amendment otherwise prevention attributes so you’re able to the newest debtor. Due to the fact a condition out-of participating in the application form, servicers need adhere to guidance and functions provided of the Mark (select Commitment to Pick Economic Instrument and you may Servicer Contribution Arrangement, see plus Family Affordable Modification System: Assessment, [reached ]).
Good. (United states Financial), as well as mortgage servicer, Wells Fargo Bank (Wells Fargo), broken its duty to discuss in the good faith while in the required payment meetings
HAMP Level 1 has got the after the advice regarding eligibility: (1) the mortgage financing have to have got its start in advance of ; (2) the loan must be a first lien; financial hardship need to be shown by homeowner; the house must be that five gadgets; there can’t be one earlier in the day loan modification significantly less than H the property must be the prominent quarters; while the monthly payment must be greater than 29% of your own borrower’s monthly revenues. After a borrower match it conditions, a beneficial servicer will comment the newest monetary recommendations provided by the fresh borrower to decide if he could be qualified to receive the Level step one system [*2](select [accessed ]).