The New York Law Journal has coverage of a timely topic.
What happens when repeated requests for information from borrowers takes too long — or when the process of collecting information is not timely during a loan modification request.
The journal has more:
Brooklyn Supreme Court Justice Yvonne Lewis ruled that Wells Fargo Bank had repeatedly frustrated the efforts of two borrowers to obtain a loan modification by demanding more and more financial information and ruled that the bank must forfeit all interest accrued on the underlying loan since 2009 and pay attorney fees.