Population & Remediation. The Company has undertaken corrective action as described in Appendix 11 to address the LMA Practices. Such corrective actions are referred to as the “LMA Remediation.” To determine the population eligible for LMA Remediation, the Company identified Mortgage Loans according to the criteria described in Appendix 1. This population is the “LMA Remediation Population.” The final in-scope LMA Remediation Population is comprised of 2,731 Loans. The final LMA Remediation consisted of: 1 Appendices 1-3 reflect the Company’s representations as to the corrective action and remediation undertaken with respect to the Covered Practices in keeping with the requirements of the MOU. - approximately $3.86M in account adjustments; and - approximately $5.75M in overpayments identified, some of which were returned to Chapter 13 trustees and/or Borrowers. The balance of identified overpayments remained on Borrowers’ Mortgage Loan accounts.
Population & Remediation. The Company has undertaken corrective action as described in Appendix 2 to address the Escrow Practices. Such corrective actions are referred to as the “Escrow Remediation.” To determine the population eligible for Escrow Remediation, the Company identified Mortgage Loans according to the criteria described in Appendix 2. This population is the “Escrow Remediation Population.” The final in-scope Escrow Remediation Population is comprised of 13,774 Mortgage Loans. The final Escrow Remediation consisted of approximately $23.98M million in credits to escrow accounts or refunds to Borrowers.
Population & Remediation. The Company has undertaken corrective action as described in Appendix 3 to address the Advances Practices. Such corrective actions are referred to as the “Advances Remediation.” To determine the population eligible for Advances Remediation, the Company identified Mortgage Loans according to the criteria described in Appendix 3. This population is the “Advances Remediation Population.” The final in-scope Advances Remediation Population is comprised of 785 Mortgage Loans. The final Advances Remediation comprised of approximately $.90M in waivers and refunds to Borrowers.
