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Joffrey Long, Mortgage Expert Witness, Sees Litigation Increase in Area of Loan Servicing

Mortgage Expert Witness

Expert witness consultation and testimony provide insights about looming litigation in the areas of loan origination and loan servicing.

Under Dodd-Frank, an understanding of the many new requirements, and the ability to clearly express to others, the borrower's and loan servicer's responsibilities, will be essential.
— Joffrey Long
LOS ANGELES, CA, U.S., December 26, 2013 /EINPresswire.com/ -- Expert witness, mortgage lender and loan servicer Joffrey Long, states that under new laws, the amount of mortgage or loan servicing litigation will increase. Particularly, areas such as:


* periodic loan payments made by borrowers, crediting of the payments, and required periodic statements

* the handling of escrow (impound) accounts for property taxes and insurance, and the handling of
"forced-place" insurance

* requirements to contact borrowers upon delinquency, and advise them of the availability of workout
solutions

* "single point of contact" issues, and "live contact" requirements, for borrowers to obtain information

* information requests from borrowers, and the handling of the requests

* foreclosure practices, new timetables, and limitations on when foreclosure can be filed

* definitions of many new terms, or phrases referenced by the Consumer Financial Protection Bureau, that
have now become part of the laws and/or regulations


"Under Dodd-Frank, an understanding of the many new requirements, and the ability to clearly express to
others, the borrower's and loan servicer's responsibilities, will be essential," said Joffrey Long,
who provides testimony/consultation as a mortgage expert witness, or loan servicing expert witness.


Areas related to loan origination, where disputes could occur are:


* practices by a lender that are alleged to be unfair, deceptive or misleading

* loan officer compensation issues

* "high-cost" or "high-priced" loans

* ability to repay or qualified mortgage considerations

* allegations of predatory lending

* "steering" issues, or related loan origination complaints


This represents only a small percentage of the areas that could lead to conflicts. There are many new requirements in both loan origination and loan servicing. Even those who intend to comply are not often sure as to exactly how to comply with new mortgage laws.

Joffrey Long is a mortgage lender, broker and loan servicer who also provides mortgage expert witness and loan servicing expert witness testimony. He is Education Chair for the California Mortgage Association and is the President of Southwest Bancorp. www.MortgageExpertWitness.net

Ron Nguyen
Southwest Bancorp
818.366.5200
email us here

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