CRC Foreclosure Survey February 2013

CRC National Mortgage Settlement Foreclosure Survey February 2013

CRC continues to push for changes in public policy and industry practices based on input from housing counselors and legal service offices on the front lines of the foreclosure crisis. We greatly value your efforts, experience and opinions and want them to inform the public debate on foreclosure prevention.

This survey will focus on questions relating to compliance by the Big 5 Banks with the National Mortgage Settlement (NMS) signed a year ago. Note that we are asking identical questions of you regarding your experiences with each of the 5 Banks that signed the NMS.

The questions that follow those are broader and concern all loan servicers. Such questions include a number that touch on important civil rights issues, and we urge you to answer those questions with all of your client and servicer experiences in mind.

Please take 20 minutes and complete this survey by Friday, February 22nd.

Your responses to these surveys are important due to the lack of publicly available data on servicing practices and the challenges that presents to providing accountability for bad practices. CRC will use the results of the survey when we head to Washington DC in early 2013 to talk to policy makers and regulators, and as we continue to engage with financial institutions, including at bank shareholder meetings, in the coming months.

Thanks for your help illuminating the problems and framing the issues so that we can work to improve bank practices and stop unnecessary foreclosures.

Question Title

* 1. Bank of America: How common are the following issues with Bank of America/Countrywide loan servicing?

	Always	Almost always	Sometimes	Rarely	Never/NA
I have clients w/ this bank	I have clients w/ this bank Always	I have clients w/ this bank Almost always	I have clients w/ this bank Sometimes	I have clients w/ this bank Rarely	I have clients w/ this bank Never/NA
Loan modifications	Loan modifications Always	Loan modifications Almost always	Loan modifications Sometimes	Loan modifications Rarely	Loan modifications Never/NA
Loan mods with principal reduction	Loan mods with principal reduction Always	Loan mods with principal reduction Almost always	Loan mods with principal reduction Sometimes	Loan mods with principal reduction Rarely	Loan mods with principal reduction Never/NA
Short sales	Short sales Always	Short sales Almost always	Short sales Sometimes	Short sales Rarely	Short sales Never/NA
Homeowner pressured by bank to do short sales where loan mod seems possible	Homeowner pressured by bank to do short sales where loan mod seems possible Always	Homeowner pressured by bank to do short sales where loan mod seems possible Almost always	Homeowner pressured by bank to do short sales where loan mod seems possible Sometimes	Homeowner pressured by bank to do short sales where loan mod seems possible Rarely	Homeowner pressured by bank to do short sales where loan mod seems possible Never/NA
Homeowner offered incentives by bank to do short sales where loan mod seems possible	Homeowner offered incentives by bank to do short sales where loan mod seems possible Always	Homeowner offered incentives by bank to do short sales where loan mod seems possible Almost always	Homeowner offered incentives by bank to do short sales where loan mod seems possible Sometimes	Homeowner offered incentives by bank to do short sales where loan mod seems possible Rarely	Homeowner offered incentives by bank to do short sales where loan mod seems possible Never/NA
Homeowner not told if and when loan modification application is complete, even after submitting all docs requested	Homeowner not told if and when loan modification application is complete, even after submitting all docs requested Always	Homeowner not told if and when loan modification application is complete, even after submitting all docs requested Almost always	Homeowner not told if and when loan modification application is complete, even after submitting all docs requested Sometimes	Homeowner not told if and when loan modification application is complete, even after submitting all docs requested Rarely	Homeowner not told if and when loan modification application is complete, even after submitting all docs requested Never/NA
Homeowner files are transferred to another servicer after complete loan mod app submitted	Homeowner files are transferred to another servicer after complete loan mod app submitted Always	Homeowner files are transferred to another servicer after complete loan mod app submitted Almost always	Homeowner files are transferred to another servicer after complete loan mod app submitted Sometimes	Homeowner files are transferred to another servicer after complete loan mod app submitted Rarely	Homeowner files are transferred to another servicer after complete loan mod app submitted Never/NA
Homeowner files transferred to another servicer after trial or final mod offered	Homeowner files transferred to another servicer after trial or final mod offered Always	Homeowner files transferred to another servicer after trial or final mod offered Almost always	Homeowner files transferred to another servicer after trial or final mod offered Sometimes	Homeowner files transferred to another servicer after trial or final mod offered Rarely	Homeowner files transferred to another servicer after trial or final mod offered Never/NA
Homeowner assigned a Single Point of Contact (SPOC)	Homeowner assigned a Single Point of Contact (SPOC) Always	Homeowner assigned a Single Point of Contact (SPOC) Almost always	Homeowner assigned a Single Point of Contact (SPOC) Sometimes	Homeowner assigned a Single Point of Contact (SPOC) Rarely	Homeowner assigned a Single Point of Contact (SPOC) Never/NA
SPOC is accessible, consistent, understands relevant program rules	SPOC is accessible, consistent, understands relevant program rules Always	SPOC is accessible, consistent, understands relevant program rules Almost always	SPOC is accessible, consistent, understands relevant program rules Sometimes	SPOC is accessible, consistent, understands relevant program rules Rarely	SPOC is accessible, consistent, understands relevant program rules Never/NA
Bank acknowledges receipt of loan mod app in writing w/in 3 business days	Bank acknowledges receipt of loan mod app in writing w/in 3 business days Always	Bank acknowledges receipt of loan mod app in writing w/in 3 business days Almost always	Bank acknowledges receipt of loan mod app in writing w/in 3 business days Sometimes	Bank acknowledges receipt of loan mod app in writing w/in 3 business days Rarely	Bank acknowledges receipt of loan mod app in writing w/in 3 business days Never/NA
Notifies homeowner of missing docs w/in 5 business days	Notifies homeowner of missing docs w/in 5 business days Always	Notifies homeowner of missing docs w/in 5 business days Almost always	Notifies homeowner of missing docs w/in 5 business days Sometimes	Notifies homeowner of missing docs w/in 5 business days Rarely	Notifies homeowner of missing docs w/in 5 business days Never/NA
Gives homeowner 30 days to respond to request for additional docs	Gives homeowner 30 days to respond to request for additional docs Always	Gives homeowner 30 days to respond to request for additional docs Almost always	Gives homeowner 30 days to respond to request for additional docs Sometimes	Gives homeowner 30 days to respond to request for additional docs Rarely	Gives homeowner 30 days to respond to request for additional docs Never/NA
Makes loan mod decision within 30 days of complete loan mod application	Makes loan mod decision within 30 days of complete loan mod application Always	Makes loan mod decision within 30 days of complete loan mod application Almost always	Makes loan mod decision within 30 days of complete loan mod application Sometimes	Makes loan mod decision within 30 days of complete loan mod application Rarely	Makes loan mod decision within 30 days of complete loan mod application Never/NA
Loses documents submitted	Loses documents submitted Always	Loses documents submitted Almost always	Loses documents submitted Sometimes	Loses documents submitted Rarely	Loses documents submitted Never/NA
Denies loan mods to seemingly qualified homeowners	Denies loan mods to seemingly qualified homeowners Always	Denies loan mods to seemingly qualified homeowners Almost always	Denies loan mods to seemingly qualified homeowners Sometimes	Denies loan mods to seemingly qualified homeowners Rarely	Denies loan mods to seemingly qualified homeowners Never/NA
Denies loan mods without providing understandable explanation	Denies loan mods without providing understandable explanation Always	Denies loan mods without providing understandable explanation Almost always	Denies loan mods without providing understandable explanation Sometimes	Denies loan mods without providing understandable explanation Rarely	Denies loan mods without providing understandable explanation Never/NA

What are the biggest problems your clients face with Bank of America?