Recently-Elected Ohio AG Caves In Lawsuit With Mortgage Servicer; Settlement Requires Outfit To Do What It Should Have Already Been Doing Anyway

From the Office of the Ohio Attorney General:

• Ohio Attorney General Mike DeWine and Ohio Department of Commerce Director David Goodman [] announced an assurance of voluntary compliance (AVC) with Carrington Mortgage Services, LLC to resolve a 2009 lawsuit and to provide relief to Ohio homeowners facing foreclosure.

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• The Attorney General, the Ohio Department of Commerce and Carrington Mortgage Services agreed to mortgage servicing standards that will apply to all Carrington Mortgage Services-serviced Ohio loans. The servicing standards include:
  
  1 - Borrowers who complete a loan modification application will be assigned a single point of contact with Carrington Mortgage Services.
  
  2 - Carrington Mortgage Services will implement a specific timeline for all loan modification requests.
  
  3 - Carrington Mortgage Services will temporarily suspend foreclosures when a borrower completes a loan modification application and will implement an internal review process for denied loan modifications.

For the Ohio AG press release, see Attorney General DeWine and Ohio Department of Commerce Announce Settlement with Carrington Mortgage Services.

Go here to view signed agreement.