[*1] You.S. Bank, Letter.A great. v Rodriguez 2013 Ny Sneak Op 232 Ultimate Legal, Bronx Condition Torres, J. Written by Nyc County Rules Reporting Agency pursuant to Judiciary Law 431. So it opinion was uncorrected and susceptible to revise in advance of publication from inside the the fresh new posted Specialized Reports.

Rodriguez preserves your plaintiff hasn’t considering a quick choice into his loan modification application you to comports towards applicable government Household Affordable Modification Program (HAMP) direction

Shapiro, DiCaro & Barak, LLC, Rochester, Ny (Scott Ferraro, Esq., of counsel) for the Plaintiff ; Legal counsel Nyc-Bronx, Bronx, New york (James J. we, Esq., out of counsel) into Offender.

In this property foreclosure action, the fresh accused Jorge Luis Rodriguez (Rodriguez) aims http://paydayloansconnecticut.com/east-village/ your order, pursuant so you’re able to CPLR 3408 and you will Consistent Civil Signal , discovering that the plaintiff U. S. Bank, Letter.

Particularly, Rodriguez states you to Wells Fargo mishandled and you may misapplied this new HAMP direction about his qualifications having HAMP. Hence, Wells Fargo materially violated the new HAMP recommendations, and you will demonstrated insufficient good-faith. Thus, Rodriguez wants an order you to: (1) directs Us Financial so you can processes and you will P assistance; (2) tolls the latest accrual interesting, later charge and United states Bank’s the advice charges up until particularly go out just like the the brand new court identifies that plaintiff is during compliance having CPLR 3408; and you may (3) tolls new accrual interesting, later charges and you may All of us Bank’s counsel fees retroactively out-of . Plaintiff opposes this new motion, and you will claims this has fairly complied on HAMP assistance.

The us Company away from Treasury (DOT) established HAMP pursuant so you’re able to Areas 101 and you will 109 of your Crisis Financial Stabilizing Work of 2008 (a dozen USC 5201-5261). HAMP was designed to prevent avoidable home foreclosures by incentivizing financing servicers to attenuate the necessary monthly home loan repayments needless to say striving people. According to the system, servicers try obliged so you’re able to adhere to guidance promulgated from the Dot whenever deciding an effective mortgagor’s eligibility to own a long-term loan modification (see All of us Dept. regarding Treasury, To make Home Affordable Program, Handbook for Servicers of Non-GSE Mortgage loans, on twenty-seven []). The latest Day spa incorporated a good “System Documentation,” and that established guidance, tips, instructions, papers, and directives given by Mark, Federal national mortgage association, or Freddie Mac regarding the the commitments out of acting servicers.

In the first place, the brand new HAMP Level 1 system is actually put up to aid consumers who are unpaid on the mortgage loans due to their number one household or against impending danger of standard. Individuals in the danger of defaulting to their mortgages are able to implement into the program, and also the mortgage servicer gets the modification otherwise avoidance services to the latest debtor. Since a disorder out of participating in the application, servicers have to follow recommendations and functions awarded of the Dot (get a hold of Dedication to Purchase Economic Tool and you will Servicer Involvement Contract, pick along with Household Sensible Modification Program: Review, [reached ]).

A good. (You Lender), and its own loan servicer, Wells Fargo Financial (Wells Fargo), broken its obligation to discuss in good faith during the required payment meetings

HAMP Tier step one contains the following advice away from eligibility: (1) the loan financing need began ahead of ; (2) the borrowed funds should be an initial lien; pecuniary hardship have to be presented from the homeowner; the house or property should be you to five systems; truth be told there cannot be one prior loan mod under H the house should be the prominent household; as well as the payment need to be more than 29% of the borrower’s month-to-month revenues. Just after a borrower suits that it requirements, an effective servicer have a tendency to remark the fresh new financial pointers available with the newest debtor to determine in the event the they are entitled to brand new Level 1 program [*2](pick [reached ]).