NYCB Mortgage Settlement

New York Community Banks mortgage division is known as NYCB Mortgage. If your mortgage servicer is NYCB and you have a 2nd lien with them that is delinquent or charged off, a NYCB mortgage settlement can be attempted for review. Depending on numerous factors they may or may not be willing to settle with you. Some of the determining factors are below:

• How delinquent is the account?

• Does the investor on the note have equity in their position?

• What is the borrowers hardship?

• What is the settlement offer being presented?

At times it does not matter how severe a borrowers hardship is or if the investors has no equity whatsoever as they may want to hold onto the lien. We were advised that if NYCB is servicing the 1st and 2nd mortgage then they do not settle on 2nd mortgages. If NYCB is not holding the 1st then you have an increased chance at being approved for a settlement. Many times a NYCB mortgage settlement counter will be issued for 80% as this is their standard counter. Be advised that this amount is not set in stone as we have seen a NYCB Mortgage account settled for roughly 15% of the unpaid principle balance. It’s imperative to present your case to settle in a way that will increase your chances at being approved for a settlement. For assistance with settling a 2nd mortgage with any bank, please fill out the form below.

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