Quantcast

Beshear: Nearly 550 Kentuckians Faced With Home Foreclosures Eli - LEX18.com | Continuous News and StormTracker Weather

Beshear: Nearly 550 Kentuckians Faced With Home Foreclosures Eligible for Payments

Posted: Updated:

FRANKFORT, KY.– Attorney General Andy Beshear today announced nearly 550 Kentuckians who faced foreclosures on their homes from New Jersey-based PHH Mortgage Company are eligible for payment through a multistate settlement against the company.

Beshear, 48 other state attorneys general, the District of Columbia and over 45 state mortgage regulators have reached a $45 million settlement with mortgage lender and servicer PHH Mortgage Corporation, the nation’s ninth largest non-bank residential mortgage servicer.

The settlement resolves allegations that PHH improperly serviced single-family residential mortgage loans from Jan. 1, 2009, through Dec. 31, 2012. Allegations of servicing improprieties included, but were not limited to, failing to timely and accurately apply payments made by borrowers; charging unauthorized fees for default-related services; and failing to properly process borrowers’ applications for loan modifications.

The $45 million settlement includes $30.4 million in payments to borrowers.

In Kentucky, 548 borrowers are eligible for a payment:

A total of 300 who lost their property – 66 Kentuckians in 2009; 80 Kentuckians in 2010; 97 Kentuckians in 2011; and 57 Kentuckians in 2012. These Kentuckians will qualify for a minimum $840 payment from the settlement. 

A total of 248 whose foreclosures had not been finalized – 28 Kentuckians in 2009; 55 Kentuckians in 2010; 62 Kentuckians in 2011; and 103 Kentuckians in 2012. These Kentuckians will receive a minimum $285 payment. 

A settlement administrator on the case will contact Kentuckians eligible for payments. 

The settlement requires PHH to adhere to comprehensive mortgage servicing standards, conduct audits and provide audit results to a committee of states.

The settlement does not release PHH from liability for conduct that occurred beginning in 2013.

“As Attorney General, I am committed to protecting Kentucky families,” Beshear said. “This settlement holds PHH accountable for its past abusive practices, and it provides some relief to Kentuckians. Tough standards will also require PHH to treat people fairly in the future.”

The number of residents from bordering states impacted from the settlement includes: Illinois: 2,816; Indiana: 1,533; Missouri: 1,330; Ohio: 2,079; Tennessee: 815; Virginia: 1,071; West Virginia: 292.

WEATHER
MaxTrack Doppler
  • Most Popular StoriesMost Popular StoriesMore>>

  • Police: Paralyzed man zip-tied, used stun gun on dancer

    Police: Paralyzed man zip-tied, used stun gun on dancer

    Saturday, July 14 2018 9:13 PM EDT2018-07-15 01:13:04 GMT
    DECATUR, Ga. (AP) - Georgia authorities say a man paralyzed from the waist down paid an exotic dancer to perform at his home and then zip-tied her, demanded sex and shot her with a stun gun.      WSB-TV reported Friday that 31-year-old Johnnie Thompson of Decatur is charged with false imprisonment and aggravated assault.      DeKalb County police detective Chris Tappan says Thompson forced the woman to take her close off and then demanded sex. After she r...
    DECATUR, Ga. (AP) - Georgia authorities say a man paralyzed from the waist down paid an exotic dancer to perform at his home and then zip-tied her, demanded sex and shot her with a stun gun.      WSB-TV reported Friday that 31-year-old Johnnie Thompson of Decatur is charged with false imprisonment and aggravated assault.      DeKalb County police detective Chris Tappan says Thompson forced the woman to take her close off and then demanded sex. After she r...
  • Boone Co. Toddler Drowns In Backyard Pool

    Boone Co. Toddler Drowns In Backyard Pool

    Sunday, July 15 2018 1:32 PM EDT2018-07-15 17:32:16 GMT
    SHUTTERFLYSHUTTERFLY

    BOONE COUNTY, Ky. (LEX 18) — A 2-year-old boy drowned Saturday in Boone County in what police are describing as a tragic accident. The Boone County Sheriff's Office says Emmitt Lay was at home with family members in the 300 block of Rurel Court in Burlington "when he apparently slipped out the rear door and made his way up the ladder to the pool." Authorities say the boys grandparents found Emmitt "within minutes" of falling into the water. First resp...

    BOONE COUNTY, Ky. (LEX 18) — A 2-year-old boy drowned Saturday in Boone County in what police are describing as a tragic accident. The Boone County Sheriff's Office says Emmitt Lay was at home with family members in the 300 block of Rurel Court in Burlington "when he apparently slipped out the rear door and made his way up the ladder to the pool." Authorities say the boys grandparents found Emmitt "within minutes" of falling into the water. First resp...

  • Nicholasville Mom Devastated Grave Marker Stolen From 5-Year-Old Son's Burial Site

    Nicholasville Mom Devastated Grave Marker Stolen From 5-Year-Old Son's Burial Site

    Sunday, July 15 2018 6:23 AM EDT2018-07-15 10:23:20 GMT

    NICHOLASVILLE, Ky. (LEX 18) - A local mom is devastated after she says someone stole the marker from her son's grave. Alisha Kattara-Scott says her son Malik Kattara died when he was just 5-years-old and he was buried Bluegrass Memorial Gardens in Nicholasville in 2010. “My son died from cancer...he had it for three and a half years. He had three bone marrow transplants and ultimately the medication is what killed him because chemo is so hard on your body,” said Kattara...

    NICHOLASVILLE, Ky. (LEX 18) - A local mom is devastated after she says someone stole the marker from her son's grave. Alisha Kattara-Scott says her son Malik Kattara died when he was just 5-years-old and he was buried Bluegrass Memorial Gardens in Nicholasville in 2010. “My son died from cancer...he had it for three and a half years. He had three bone marrow transplants and ultimately the medication is what killed him because chemo is so hard on your body,” said Kattara...

Powered by Frankly

© LEX18.com 2018, LEX18.com
A CORDILLERA COMMUNICATIONS Station
All rights reserved
Privacy Policy, | Terms of Service, and Ad Choices

Can't find something?