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Ohio Attorney General Mike DeWine
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Plaintiff agrees to: 1) not use language in its modification, forbearance, security retention, or other loss mitigation agreements which states that the borrower has no right of set-off or counterclaim or any defense to the obligations of the note or security instrument; 2) participate in good faith in programs to assist Ohio homeowners in distress and to provide the Attorney General with quarterly reports listing the programs in which it participates; 3) provide consumers with a single point of contact after a consumer has requested assistance to avoid foreclosure; 4) abide by the guidelines and time frames for all loan modification requests as set forth by the MHA Handbook, consisting of: a) requesting HAMP Request for Modification and affidavit, IRS form 4506T-EZ or 4506-T, Dodd-Frank certification, income documentation, and any other documents required under HAMP; b) cease collection calls 7 days after receipt of a complete HAMP package; c) acknowledge receipt of the Initial HAMP package within 10 days of receipt; d) review the package for completeness and eligibility within 30 days and either issue a trial period plan notice, issue a non-approval notice, or issue an incomplete information notice; e) review denials for HAMP loan modifications to confirm that the loan is ineligible; f) review applications for eligibility for other programs if denied for a HAMP loan modification; g) provide borrowers until the last day of the month in which the first payment under a HAMP modification is due to make the first payment, or 10 days from the offer of a loan modification other than HAMP to make the first payment; h) if a borrower fails to respond to s loan modification offer during the allotted timeframe, Plaintiff shall be entitled to pursue ordinary course servicing practices; i) if a property is owner-occupied and the borrower has submitted a complete HAMP package or other non-HAMP application, Plaintiff shall promptly suspend all ongoing foreclosure proceedings and refrain from initiating any new foreclosure proceedings until a determination of whether the borrower is eligible for a loan modification is made.
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| © 2009 Ohio Attorney General Richard Cordray