Customer Service Reforms
The Settlement requires five mortgage companies to treat their customers well.
Download the Settlement documents, along with handouts and presentations about the Settlement, and find out where to get help.
Learn more about whether you could receive a principal reduction, refinancing, or other benefit under the Settlement.
Find the California Monitor Program’s public events and find homeowner assistance events sponsored by your mortgage company.
Bank of America has agreed to the following five servicing policies for consumers nationwide:
• Bank of America has agreed to revise its “missing document” letter which will more clearly state what documents are missing and what additional information is needed to move forward with a loan modification request.
• Bank of America is further facilitating the ability of consumers and/or their advocates to interact with Bank of America staff regarding loan modification requests.
• Going forward, Bank of America will assign an underwriter upon identifying a loan modification application that appears to entail complex or challenging underwriting.
• Going forward, where contractually permitted and reasonably practicable, Bank of America will exclude loans belonging to consumers who are in the process of negotiating a loan modification from the sale of mortgage servicing rights.
• Bank of America will not proceed to foreclosure sale on any homeowner who has identified a legitimate change in financial circumstances and who wishes to reapply for a loan modification, even if that borrower’s application was previously rejected.
We assist in implementing the Settlement by talking with mortgage companies about their policies and talking with homeowners about their experiences.
We are a team of law professors, attorneys, dedicated staff, and law students working for Californians.
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