[*1] You.S. Bank, N.A great. v Rodriguez 2013 Nyc Slip Op 232 Ultimate Judge, Bronx State Torres, J. Written by Nyc County Rules Revealing Agency pursuant to help you Judiciary Rules 431. This opinion was uncorrected and you can at the mercy of upgrade ahead of publication in brand new released Formal Reports.

Rodriguez holds the plaintiff have not provided a timely choice Utah title loan near me into his loan modification software one to comports into relevant federal Family Reasonable Modification System (HAMP) recommendations

Shapiro, DiCaro & Barak, LLC, Rochester, Ny (Scott Ferraro, Esq., off guidance) to your Plaintiff ; Legal counsel New york-Bronx, Bronx, Nyc (James J. we, Esq., of counsel) on the Offender.

Inside foreclosure action, new defendant Jorge Luis Rodriguez (Rodriguez) seeks an order, pursuant in order to CPLR 3408 and Consistent Civil Laws , finding that the newest plaintiff U. S. Bank, N.

Particularly, Rodriguez states that Wells Fargo mishandled and you may misapplied this new HAMP guidance about his qualifications for HAMP. Ergo, Wells Fargo materially violated this new HAMP direction, and you may showed a lack of good-faith. Consequently, Rodriguez is seeking an order that: (1) delivers United states Lender so you’re able to techniques and you will P guidance; (2) tolls brand new accrual of interest, later charges and Us Bank’s the advice costs up until eg date given that the fresh judge identifies the plaintiff is actually compliance with CPLR 3408; and you may (3) tolls brand new accrual of great interest, late charge and you may You Bank’s counsel charge retroactively off . Plaintiff opposes brand new actions, and you will insists it’s quite complied on the HAMP guidance.

The united states Agencies from Treasury (DOT) situated HAMP pursuant to help you Parts 101 and 109 of one’s Disaster Financial Stabilization Operate out-of 2008 (several USC 5201-5261). HAMP was created to prevent avoidable house foreclosures by incentivizing mortgage servicers to attenuate the required month-to-month mortgage repayments without a doubt striving home owners. Under the program, servicers is actually required to help you comply with direction promulgated because of the Dot when choosing an excellent mortgagor’s qualification having a long-term loan mod (look for Us Dept. out of Treasury, While making Household Reasonable Program, Handbook for Servicers away from Low-GSE Mortgages, from the twenty seven []). New Day spa integrated a “Program Files,” and this set forth recommendations, measures, directions, records, and you will directives awarded by the Mark, Fannie mae, otherwise Freddie Mac about the the new commitments out of playing servicers.

In the first place, brand new HAMP Tier 1 program is set up to help borrowers that delinquent on their mortgages because of their number one house or against impending risk of standard. Consumers when you look at the risk of defaulting on the mortgages can then incorporate towards the system, together with home loan servicer gets the modification or protection characteristics in order to the fresh debtor. Once the a disorder away from participating in the program, servicers need follow guidance and procedures given by the Dot (select Dedication to Buy Economic Appliance and Servicer Participation Arrangement, select along with Household Affordable Amendment System: Analysis, [reached ]).

An effective. (United states Lender), and its mortgage servicer, Wells Fargo Financial (Wells Fargo), violated its responsibility so you’re able to discuss in good-faith throughout the necessary payment meetings

HAMP Level step one gets the pursuing the advice regarding qualification: (1) the loan financing must have started ahead of ; (2) the borrowed funds have to be an initial lien; pecuniary hardship should be exhibited from the homeowner; the home should be you to definitely four devices; here cannot be any early in the day mortgage loan modification not as much as H the home should be the principal residence; in addition to payment should be greater than 29% of borrower’s monthly revenues. Immediately following a borrower suits which requirements, good servicer commonly comment the economic advice provided with the borrower to choose when the he is qualified to receive brand new Level step one system [*2](see [reached ]).