Big Losses for PMI Company and HR Block Unloads Option One

re: Big Losses for PMI Company and HR Block Unloads Option One

Patricia Hodes — Thu, 29 Mar 2012 16:53:19 GMT

What happens to the Foreclosures that were filed by Wells Fargo as Trustee for Option One Mortgage back in January of 2008? Can American Home Mortgage pick up and follow through with the Foreclosure? or are they through too? Since as I read it, Wilbur Ross purchased Option One's mortgages wouldn't that mean that his company would have to re-file Foreclosure proceedings or allow homeowners to file for the HAMP programs to save their homes. If a Foreclosure was allowed in the year 2011 under Wells Fargo as Trustee filed back in 2008 taken over by American Home mortgage, shouldn't it be set aside or dismissed due to improper filing? No defense was allowed by the Judge as stated by the Judge, "THE BANKS HAVE TO BE PAID" Do I have a loop hole here to have this Foreclosure set aside?

RE:Big Losses for PMI Company and HR Block Unloads Option One

Leslie — Mon, 25 Aug 2008 11:00:00 GMT

They want you to believe Option One became some new company. After I received my statement from American Home Mortgage Inc. today there was errors on it JUST like there always was on my Option One always had. So I went to the website address they had on the statement. Since I had never been to this website before I automatically went to register as a new user. Only to find that I was already registered. Ends up it is the EXACT SAME website, just a different address and name on it. So when I went to my account and then the secure message center I found messages that I had sent to Option One and their responses (the two they did actually answer) were still there. Everything on this website is exactlly the same as Option One's. So how is it this "NEW" company has all of this on their "NEW" website? Because nothing is new about it. It is the same company under a different name. This company and group of people need to be stopped. Ruining peoples lives should not be a business.

RE:Big Losses for PMI Company and HR Block Unloads Option One

Deborah — Mon, 04 Aug 2008 11:00:00 GMT

So far my experience with AMHSI is very negative. Seems their customer service is in India and the people on the phones are extremely pushy.

RE:Big Losses for PMI Company and HR Block Unloads Option One

anonymous — Wed, 23 Jul 2008 11:00:00 GMT

Wasn't Option One sold to Select Portfolio Servicing? Is SPS a reliable mortgage servicing company? Are there any repercussions to the homeowner whose fixed rate Option One mortgage was sold to SPS? Is the homeowner vulnerable because of this sell off? Should the homeowner refinance with a more reputable company, even if the interest rate one point higher than their current interest rate?

RE:Big Losses for PMI Company and HR Block Unloads Option One

Maria — Tue, 22 Jul 2008 11:00:00 GMT

Good for Option One. They are very unprofessional and employees are very greedy. They lost the flexibility to adapt to the mortgage changes and just stuck to the book not able to help save homeowners from foreclosures thus now ending with a very high inventory of losses. Maybe this will serve as a lesson to other lenders who refuse to resturcture their policies and help homeowners to avoid this same kind of story. I'm happy Option One is gone for good.

RE:Big Losses for PMI Company and HR Block Unloads Option One

anonymous — Mon, 24 Mar 2008 11:00:00 GMT

What is going on with the seconds that were originated with Sub Prime and then sold off seperately from the first loan and the banks that currently own these seconds? There hasn't been much discussion or analysis on how this will effect the markets in the short and long-term.