Lenders in Financial Distress

• Failed Banks
  NCLC created this site to assist attorneys and advocates navigate the issues that arise when a bank, which makes or holds a mortgage, has failed. The consequences to any claims and defenses that the homeowner may have to the loan can be significant.

• Lender Bankruptcy
  This site focuses mainly on Chapter 11 bankruptcies and was designed to inform attorneys of the recent rulings in lender bankruptcy cases. Provided on this webpage will be Judges’ orders pertaining to claim bar dates, transfer of assets, confirmation of plan, as well as voluntary petitions and chapter 11 plans.
• Loan Modification Programs
  Within the past couple of months several programs have emerged in an effort to minimize the number of foreclosures. This site was implemented to provide a more comprehensive understanding of what the industry is doing to combat the foreclosure issue. It should be noted that as of November 11, 2008 the programs under Freddie Mac and Fannie Mae have been considered to be the standard for the industry. However, there are different variations. To assist with a better understanding, this site provides a chart that summarizes the industry and government sponsored loan modification programs.

NCLC gratefully acknowledges funding from the Institute for Foreclosure Legal Assistance that supports the time to set up and maintain these pages and to gather and analyze the information presented.