If you believe that your bank has not appropriately responded to your requests for assistance, you may request that the regulator with appropriate jurisdiction review the bank’s actions to ensure that the financial institution has followed regulations designed to protect consumers.
Most large national banks are regulated by the federal government, to determine which federal agency has authority over your lender or loan servicer, visit: HelpWithMyBank.gov
Smaller lenders may be regulated by the State of California. To determine which state agency has authority over your lender or loan servicer visit: Home Loan Regulator Search
Reporting Mortgage Fraud or Abuse
There is never a fee to get assistance or information about Making Home Affordable from your lender or a Dept. of Housing and Urban Development approved housing counselor. Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan. Never submit your mortgage payments to anyone other than your mortgage company without their approval.
To learn more about loan fraud and how to report suspicious activity visit: StopFraud.gov
The reinstated FHA loan limit formula and cap change will help make mortgages more affordable and accessible for hard-working, middle-class families in 669 counties in 42 states and territories, where the average loan limit reduction after the reset last month was more than $68,000. The provision reinstates the FHA loan limits through 2013 at 125 percent of local area median home prices, up to a maximum of $729,750 in the highest cost markets, the floor will remain at $271,050. However, Congress chose not to apply the loan limits restoration to Fannie Mae and Freddie Mac. Fannie-and-Freddie-backed mortgages will remain at 115 percent of local area median home prices up to $625,500.