NYC residents sue over denial of loan mods under national mortgage program.Aurora Loan Services, a subsidiary of Lehman Brothers, has been charged with denying four Brooklyn and Queens residents access to the Obama administration's Home Affordable Mortgage Program. The program, which helps borrowers stave off foreclosure by refinancing their home loans, provides capped incentives to servicers who participate. The plaintiffs, represented by the Legal Aid Society of New York City New York City: see New York, city.New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , have alleged that Aurora refused to consider their loans for modification under the program and that Treasury officials did not step in to protect their rights to due process. The class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax was filed in federal district court in Washington, D.C., and seeks to force Aurora to provide reasons for denial of access to HAMP HAMP Hampton National Historic Site (US National Park Service) HAMP Horizontal Avionics Modernization Planning , as well as prior notice and an appeals process. [Housing Wire] |
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