"We Will Be Bringing More Lawsuits As Needed" Says Ohio AG To Mortgage Servicers Who Fail To Provide Reasonable Loan Mods To Eligible Borrowers

Statement from Ohio Attorney General Richard Cordray:

• “[A recent] report from the U.S. Treasury further demonstrates that most mortgage loan servicers are not doing enough to live up to their commitments to help keep people in their homes. What is it going to take to get these companies to change their behavior and take responsibility? [Recently], Ohio broke new ground by filing a lawsuit against Carrington Mortgage Services for violating Ohio consumer law and for failing to abide by its agreement with the state to provide reasonable loan modifications to eligible borrowers.(1) The numbers released [...] further justify that approach. As noted [in the Treasury Department report], other loan servicers also are falling well short of expectations. In Ohio we will not just stand by. We will be bringing more lawsuits as needed in the future.”

Source: Cordray Reacts to U.S. Treasury Report on Mortgage Servicers.

(1) For the Ohio AG lawsuit, see State of Ohio v. Carrington Mortgage Services LLC. For the Ohio AG press release announcing the lawsuit, see Cordray & Ohio Department of Commerce First in Nation to Sue Mortgage Servicer for Unfair Practices.