Mortgage PROFESSIONAL P E N N S Y LVA N I A
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Your source for the latest on originations, settlement, and servicing
Pennsylvania Association of Mortgage Brokers P.O. Box 390 Wilkes Barre, PA 18703-0390 Web site: www.pamb.org
Paul Logan Jim Mahler Jr. Wayne Angelo Tom Constan Lou Cesare Rose Stancato John Anthony Michael D’Alonzo, CMC Jami Braafhart James Clarke George Hanzimanolis, CRMS Paul Krause Tony Piestrak Walter Scott Jr. Beth Stephans
STATE OFFICERS Phone # President (800) 295-1020 President-Elect (717) 299-6801, ext. 27 Vice President (717) 397-7500 Secretary (610) 690-7400, ext. 228 Treasurer (570) 824-7811 Immediate Past President (610) 430-6901 Board Member (717) 591-3278 Board Member (215) 657-9600 Board Member (717) 731-9700 Board Member (724) 453-0335 Board Member (570) 620-9561 Board Member (717) 269-4957 Board Member (570) 207-6334 Board Member (215) 669-3273 Board Member (610) 977-0662
Paul Krause Tony Piestrak Wayne Angelo Beth Stephans James Clarke
REGIONAL LEADERSHIP Central Chapter Governor (717) 269-4957 North East Governor (570) 207-6334 South Central Governor (717) 397-7500 South East Governor (610) 977-0662 Western Governor (724) 453-0335
pkrause@comcast.net tpiestrak@verizon.net wayneangelo@msn.com bstephans@emg-inc.org jclarke@equitylendinggroup.com
Jim Mahler Jr. Sandy Fisher John Anthony Wayne Angelo Paul Logan Michael D’Alonzo, CMC Paul Krause George Hanzimanolis, CRMS Walter Scott Jr. Jami Braafhart Lou Cesare John Anthony Larry Frank, CRMS
COMMITTEE CHAIRS By-Laws Committee (717) 299-6801, ext. 27 By-Laws/Ethics Committee (215) 852-5978 Communications Committee (717) 591-3278 Community Relations Committee (717) 397-7500 Conference Committee (800) 295-1020 Education Committee (215) 657-9600 Finance Committee (717) 269-4957 Legislative Committee (570) 620-9561 Membership Committee (215) 669-3273 Membership Committee (717) 731-9700 Nominating Committee (570) 824-7811 Past President’s Council (717) 591-3278 Past President’s Council (215) 510-9701
james.mahler@wellsfargo.com sfischer@bluestonecap.com janthony@acamortgage.com wayneangelo@msn.com plogan@franklinamerican.com mjdalonzo@hotmail.com pkrause@comcast.net bnkrs1st@aol.com wscott.afcs@gmail.com jbraafhart@core-ss.com lcesare@unitedoneresources.com janthony@acamortgage.com laf721@aol.com
Sarah Schmidt
PAMB OFFICE Administrative Assistant (717) 737-2117
E-mail plogan@franklinamerican.com james.mahler@wellsfargo.com wayneangelo@msn.com tconstan@accruedcapital.com lcesare@unitedoneresources.com rose@firstmortgagehomeloans.com janthony@acamortgage.com mjdalonzo@hotmail.com jbraafhart@core-ss.com jclarke@equitylendinggroup.com bnkrs1st@aol.com pkrause@comcast.net tpiestrak@verizon.net wscott.afcs@gmail.com bstephans@emg-inc.org
Qualified Borrowers May be Eligible for Payments From National Servicer Settlement Pennsylvania Attorney General Linda Kelly has announced that official notifications are being sent to approximately 29,000 Pennsylvania borrowers who lost their homes to foreclosure between Jan. 1, 2008 and Dec. 31, 2011 and who may be eligible for payment as part of the $25 billion national mortgage foreclosure settlement. Eligible borrowers had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo, the nation’s five largest mortgage servicers that agreed to the settlement with the federal government and attorneys general for 49 states and the District of Columbia. The settlement, which took effect in April, set aside approximately $1.5 billion in payments for two million borrowers nationwide who lost their homes to foreclosure during that period and had their loan serviced by one of the settling servicers. The exact payment will depend upon the total number of borrowers who decide to participate. Attorney General Kelly said the national settlement administrator has mailed notification postcards to eligible borrowers nationwide. The postcards explain that consumers may be eligible for a portion of the foreclosure settlement and advises them to carefully review all of the information in the claim packets, which are being mailed this week. In Pennsylvania, the packets contain an official notification letter from Attorney General Kelly along with a claim form, instructions and answers to frequently asked questions. Those packets are being mailed to 28,448 eligible. AG Kelly urged eligible Pennsylvania borrowers to watch their mail for the official packets and to complete their claim forms and return them as soon as possible in the envelope provided. Claim forms can also be filed online at www.nationalmortgagesettlement.com. The deadline for filing all claims is Jan. 18, 2013. Payment checks are expected to be mailed in mid-2013. Kelly noted that eligible borrowers do not need to prove financial harm to receive a payment, nor do they give up their rights to pursue a lawsuit against their mortgage servicer or to participate in the Independent Foreclosure Review Process being conducted by federal bank regulators. Eligible borrowers may get a payment from this settlement even if they participate in another foreclosure claims process. However, any payment received may reduce payments borrowers may be eligible to receive in any other foreclosure claim process or legal proceeding. PA 1
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