AMI Praises NYDFS Lawsky Actions on Mortgage Servicing and Homeowner Assistance
For immediate release
December 22, 2014
Washington, D.C. – The Association of Mortgage Investors (AMI) released the following statement in response to the announcement by N.Y.S. Department of Financial Services Superintendent Benjamin M. Lawsky:
“The Association of Mortgage Investors applauds today’s homeowner assistance announcement. Superintendent Ben Lawsky and his office once again proved their deep commitment to New York consumers and the mortgage investors, alike.
“Both depository and non-depository bank-servicers must work in the best interests of the parties at stake. Mortgage servicing wrongdoing must not be tolerated. These actions are a step in the right direction by regulators to hold servicers and their management response for hurting consumers and investors. And regrettably, too often, New Yorkers were victimized twice as a result of past ill-conceived settlements.
AMI hopes that Mr. Lawsky’s actions set a new bar for the mortgage servicing industry, financial regulatory oversight, and consumer protection.”
AMI is pleased to be a resource for state and federal policy-makers and thought leaders on housing finance and mortgage issues.
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The Association of Mortgage Investors represents private investors, public and private pension funds, and endowments, all of whom support the efforts of Congress and the Administration to help responsible, though distressed homeowners avoid foreclosure. For more information, please visit www.the-ami.org.
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