Loan Services Agree to Work with State to Find Solutions
Governor's Loan Servicers Meeting a Success
BALTIMORE (2-26-08) - Department of Labor, Licensing and Regulation Secretary Thomas E. Perez announced the success of today's servicers meeting to develop a streamline triage system for Maryland homeowners to avoid foreclosure.
"The foreclosure crisis requires an all-hands-on-deck enterprise that will only be accomplished with the cooperation of
servicers, nonprofit housing counselors, state and local government," said Secretary Perez. "We made significant progress toward that end today."
Today's meeting concluded with commitments from the servicers to:
Provide information within ten days about what is required from borrowers to access real loss mitigation solutions
Reconvene in three weeks to continue work on a streamline triage system for Maryland homeowners
Participate in a summit to train housing counselors in the requirements for loss mitigation
The servicers that participated in the Governor's Servicers Meeting include:
Wells Fargo and Litton Loan Servicing were unable to attend today's meeting but committed to the effort.
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