Thrifts and Mortgage Finance
Company Overview of Green Tree Servicing LLC
Green Tree Servicing LLC services home mortgages, refinancing, home equity lines, and other financial accounts in the United States. It provides special servicing, loss mitigation strategies, and integrated capital market solutions to credit-risk holders. The company’s mortgage solutions include home affordable refinance programs, reverse mortgage loans, and home loan refinancing options. It also provides homeowners, manufactured home, home warranty, automobile, motorcycle/ATV, RV/ trailer, and boat/PWC insurance solutions. The company was founded in 1975 and is based in St. Paul, Minnesota with offices in the United States. It has facilities in Rapid City, South Dakota; Tempe, Arizona; and ...
345 Saint Peter Street
St. Paul, MN 55102
Founded in 1975
Key Executives for Green Tree Servicing LLC
Executive Vice President and Director
Compensation as of Fiscal Year 2014.
Green Tree Servicing LLC Key Developments
Green Tree Servicing LLC Amends Servicer Advance Financing Facility
Dec 29 14
Walter Investment Management Corp. announced that on December 19, 2014, its wholly owned subsidiary, Green Tree Servicing LLC entered into a newly amended $1.2 billion servicer advance facility with Barclays Bank PLC as sole noteholder under the Facility. In connection therewith, approximately $1.1 billion of the Facility capacity was drawn and used by Green Tree to, among other things, repay approximately $765.0 million of Green Tree's liability under its early advance reimbursement agreement with Fannie Mae.
Green Tree Settles Faulty Collection Charges
Nov 5 14
Green Tree Servicing LLC announced that it will pay $232,000 to Vermont consumers and the state for the firm's faulty debt collection practices and the late payment of property taxes. State regulators found evidence that Green Tree, since 2011, violated collection prohibitions at least 26 times in servicing mortgage loans in Vermont. The company reportedly routinely paid "borrowers' local property taxes out of escrow funds provided by the borrowers." Collection calls sometimes violated state law - including calls made after 9 p.m., calls made to debtors at their place of work and calls to third parties that reveal a debt is owed. Sorrell's office considers the late payment of escrowed property taxes to be an unfair trade practice but Green Tree paid property taxes more than 30 days after the tax due date on the accounts of 48 Vermont consumers, including a number of payments made more than 100 days late. Green Tree argued that it ultimately corrected those errors and that none of the homeowners had to pay late fees or penalties. The settlement is the first in Vermont focusing on mortgage-related issues since a series of multistate and federal settlements with national banks and servicers.
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