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In the News 2007 - Subprime Lending
On November 20, 2007, Governor Schwarzenegger announced an agreement with several loan servicers to streamline the loan modification process for subprime borrowers living in their home, making timely payments and likely to default when their loan jumps to a scheduled higher rate. If your lender is listed below, you may be one of the many Californians who qualify for assistance. Contact your lender for more information (contact information is below).
Carrington Mortgage Services
Countrywide Home Loans
GMAC Mortgage, LLC
Home Loan Services, Inc.
Homeq Servicing
HSBC Mortgage Services
Litton Loan Servicing
OCWEN Loan Servicing, LLC
Option One Mortgage
Wilshire Credit
Information on Nontraditional Loans
In the News - Subprime Loan Agreement
2007
- December 13, 2007
Commissioner releases results from Department of Corporations survey of mortgage loan servicers.
Results of Survey of Mortgage Loan Servicers
Comments from Commissioner on the Survey Results
- December 7, 2007
Media Release from Governor Arnold Schwarzenegger
Governor Schwarzenegger Announces Additional Help for Homeowners Facing Foreclosure
Highlights Assistance Foundations, Non-Profits and Banks Can Provide To Help Local Communities - November 29, 2007
Media Release from Governor Arnold Schwarzenegger
Governor Schwarzenegger Launches Public Awareness Campaign to Help Homeowners Avoid Foreclosure Governor Seeks Relief for Military Personnel and Veterans - November 26, 2007
The Financial Times, by Matthes Garrahan and Krishna Guha
California Seals Loans Deal to Head Off Defaults - November 21, 2007
Principles of the California Sub-prime Mortgage Agreement - November 20, 2007
Media Release from Governor Arnold Schwarzenegger
Governor Schwarzenegger Works With Lenders to Help Homeowner Avoid Foreclosure