Caliber Home Loans, Inc Mortgage Complaint

Caliber Home Loans, Inc Mortgage department,

Conventional fixed mortgage Loan modification,collection,foreclosure Oregon

The current holder of my mortgage, a hedge fund, bought the loan from - in an auction two years ago, no doubt at a substantial discount ( although I ca n't find out what they paid ). The servicer, in moving to foreclose, was required to go through Mediation by Oregon Law. In this process we applied for a mortgage modification to allow us to stay in our home. First HAMP was denied ( see attached for reasons- they gave us no information about how they arrived at not being able to fit a modification into the -- % DTI ). Then we were denied for an in-house modification for the reason that the LTV was less than 70 %. This calculation is only based on the original loan balance and a drive-by BPO ( of which there were - that varied by - % in their valuation ). The holder of the loan is unwilling to consider the back interest and tax/insurance escrow owed in the basis of their calculation. If they did, the LTV would be between -- - %, depending on which BPO was used, well within their " standards ''. Their method seems a logical fallacy. Either the additional debt owed to them should increase the base loan or reduce the value of the home, because the net result is they we have less equity.