[*1] You.S. Financial, Letter.A great. v Rodriguez 2013 Nyc Slip Op 232 Finest Legal, Bronx Condition Torres, J. Authored by Nyc County Laws Reporting Bureau pursuant so you’re able to Judiciary Rules 431. It view was uncorrected and you will susceptible to enhance prior to publication inside the latest posted Formal Account.
Rodriguez preserves that plaintiff have not offered a prompt choice to your his loan modification application one to comports towards appropriate government Household Sensible Amendment Program (HAMP) assistance
Shapiro, DiCaro & Barak, LLC, Rochester, Nyc (Scott Ferraro, Esq., off guidance) on Plaintiff ; Legal services New york-Bronx, Bronx, Nyc (James J. i, Esq., out-of guidance) towards Accused.
In this foreclosure action, brand new accused Jorge Luis Rodriguez (Rodriguez) seeks an order, pursuant to CPLR 3408 and you can Consistent Civil Code , discovering that the fresh new plaintiff You. S. Financial, Letter.
Especially, Rodriguez claims you to Wells Fargo mishandled and you may misapplied the fresh HAMP advice about his qualifications getting HAMP. Thus, Wells Fargo materially violated the HAMP assistance https://paydayloansconnecticut.com/westbrook-center/, and you may presented too little good faith. Therefore, Rodriguez is looking for your order that: (1) sends You Lender to procedure and you will P recommendations; (2) tolls the newest accrual of interest, late fees and you can You Bank’s guidance costs up to instance time given that brand new judge establishes your plaintiff is in compliance which have CPLR 3408; and you may (3) tolls the fresh accrual of interest, late charges and Us Bank’s the advice costs retroactively from . Plaintiff opposes the newest action, and you will claims it’s very complied into HAMP assistance.
The usa Department away from Treasury (DOT) situated HAMP pursuant to Sections 101 and 109 of the Emergency Monetary Stabilization Act out-of 2008 (12 USC 5201-5261). HAMP was designed to prevent avoidable house foreclosures because of the incentivizing loan servicers to reduce the necessary month-to-month home loan repayments definitely struggling homeowners. Beneath the system, servicers is actually required so you can follow assistance promulgated because of the Mark whenever choosing a good mortgagor’s qualifications for a permanent mortgage loan modification (see You Dept. of Treasury, To make Domestic Reasonable System, Handbook to have Servicers from Non-GSE Mortgages, during the twenty-seven []). The latest Spa included a great “System Paperwork,” and that set forth direction, procedures, rules, documentation, and you can directives granted by the Dot, Fannie mae, or Freddie Mac regarding the the fresh new obligations out of participating servicers.
In the first place, the newest HAMP Level 1 program was install to aid individuals who are unpaid to their mortgage loans for their no. 1 household or facing certain risk of standard. Borrowers within the danger of defaulting on the mortgage loans are able to use into system, and also the home loan servicer has the amendment or prevention services to help you the latest borrower. As the a condition out of engaging in the program, servicers need to follow recommendations and functions provided by Dot (see Dedication to Buy Financial Tool and you may Servicer Involvement Contract, discover and additionally House Sensible Modification Program: Overview, [reached ]).
A. (You Lender), and its own financing servicer, Wells Fargo Bank (Wells Fargo), violated their obligations so you’re able to discuss within the good faith during mandatory settlement group meetings
HAMP Tier step 1 has got the after the guidance out of qualifications: (1) the loan financing have to have originated just before ; (2) the mortgage must be a first lien; monetaray hardship need to be shown because of the resident; the house or property must be you to four equipment; there can’t be one earlier mortgage loan modification under H the house ought to be the prominent household; additionally the payment need to be more than 31% of your own borrower’s month-to-month gross income. Immediately after a debtor fits that it standards, an excellent servicer have a tendency to remark this new monetary advice provided by new debtor to determine if they are qualified to receive the fresh Tier step 1 program [*2](pick [utilized ]).