THE FIRST REPORT OF THE CALIFORNIA MONITOR | Waiting for Change: Dual Tracking and Home Foreclosure

“The California Monitor Program received 224 complaints about dual tracking since the Settlement was announced. The bad news is this clearly understates the degree of the problem. Most families do not file a complaint, and even among the 1,482 total complaints received, some may focus on confusing communication from their banks, meaning my staff doesn’t realize dual tracking is occuring into well into its work to help the family. The good news is the trend line is sharply downward in September. As the chart shows, dual tracking complaints were half as frequent last month.” ~ Katherine Porter


Waiting for Change: Dual Tracking and Home Foreclosure THE FIRST REPORT OF THE CALIFORNIA MONITOR


Tomorrow, October 3, the National Mortgage Settlement takes full effect. The nation’s five largest mortgage companies must implement new, stronger rules for working with homeowners who are facing a hardship. These reforms require banks to make fundamental changes to their businesses. It should be a bright day for all who care about principles of fairness and the California housing market.

This report, the first from the California Monitor, focuses on dual tracking. Dual tracking is the name given to a race between foreclosure and loan modification. This practice allows mortgage companies to manufacture the foreclosures of homes and the displacement of families—even as those families fight to stay in their homes by requesting loan modifications. In my view, the Settlement’s restrictions on dual tracking are at the heart of changes that will give families who have fallen on hard times a fair chance to keep their homes.

The Settlement did not change the loan modification landscape overnight, nor did it promise to do so. Under the agreement, mortgage companies had six months to change practices that were harmful to homeowners.

In California, dual tracking was widespread during this time. The report reflects the fear and frustration of California families while the mortgage companies retooled their practices. In August, 25% of complaints received by the California Monitor stated a dual tracking problem. However, this number began to trend downward in September. With the end of the implementation period, I will continue to monitor the mortgage companies’ actions and listen to homeowners. When a home is on the line, rhetoric is no substitute for real, measureable change.

The announcement of the $25 billion National Mortgage Settlement brought hope to thousands of families struggling to avoid foreclosure. Attorney General Kamala D. Harris appointed me as California Monitor to make sure those hopes were not dashed by delay or deception on the part of mortgage companies.

But consumers should not need a law professor as their ally to ensure fair process. While the California Monitor Program has worked successfully with mortgage companies to stop foreclosure sales in several dozens of dual tracking situations, the Settlement’s protections place accountability on mortgage companies to treat their customers fairly or face real consequences if they continue to dual track.

It is my honor to serve Californians. My staff and I are working hard each day to ensure that every family struggling to avoid foreclosure has a square shot at keeping its home. I look forward to making future monthly reports and informing Californians of our progress at

Very truly yours,

Katherine Porter

Copy of the full report here…



Waiting for Change: Dual Tracking and Home Foreclosure THE FIRST REPORT OF THE CALIFORNIA MONITOR

4 Responses to “THE FIRST REPORT OF THE CALIFORNIA MONITOR | Waiting for Change: Dual Tracking and Home Foreclosure”
  1. Zion says:

    To whom it may concern, Bank of America is trying to illegally foreclose on a White American Indian’s predatory loan made for house flipping created by Countrywide.
    Please help us save our home. Please read this letter. Countrywide changed our loan at last second, or already had it written, while we were under the assumption we were signing what our lock-in agreement stated. At signing we noticed we were signing a different interest rate than that in which we locked-in at so I called and Countrywide said “you couldn’t afford the cheaper loan, we thought we told you”. No they didn’t tell us and the documents state that they were supposed to notify us with 72 hours of signing if there were any changes to the loan. I said “if you told us, then why am I calling you in the middle of signing escrow”? I then asked about the lock-in agreement and their answer was, the same, that we couldn’t afford the cheaper loan. Countrywide knew that we made arrangements to vacate our previous place of residence and would have no where to live, so to keep my family off of the street as a homeless family, we signed. We did not get one tax break of new home buyers, that everyone seems to have received. We didn’t want to do business with Bank of America so we went with Countrywide, then their illegal mortgage practices and loans were sold to Bank of America forcing us to allow racial nonchristian Jesus hating American hating employees to service our loan. We have made six attempts to modify our loan to the original lock-in agreement of 5.75%, and they started listening but once they heard of my faith in God doing His will. We was ignored on five attempts and told once we didn’t qualify. We have asked for copies of all correspondence of these attempts and they denied our QWR with an attorney telling us we can’t use a QWR for a phishing expedition looking for faults of the bank. I sent a QWR because I want a copy of my lock-in agreement that was signed by both my wife and I, but instead, BofA retaliates and threatens foreclosure, getting us to fear loosing our home (terrorist attack against us) by sending real estate agents and Obamas team to try and get us to bow to their demands with out listening to our rights. BofA has ignored our requests for our signed documents to be copied and sent to us. I have done everything under the sun, including using the power of God added to the sun and mans conscience to get them to hear me. I have posted my story on the internet, news companies and social networks, only to be ignored and have my posts removed. Are people really thinking BofA and Obama are God? I will not relent until Bank of America and all financial institutions are equal towards All, in the name of My Lord, Jesus Christ! I want my Lock-in agreement to prove this is a predatory loan and BofA upholds their rights against me. I owe $52-53,000 to get my loan current. Because of realtors, Brokers, and financial lenders practices of trying to flip houses, the estimated worth and value of our home has decreased about the same amount. We purchased the home for $190,000 with a rider of $5,300 which went towards the down payment as well as $3,000 down payment, when the home was advertised for $0 down and $0 at closing with 0 credit. Now the property is worth $143,000. Who is going to pay for the loss that I incurred against my loan? Who is the mortgage police to back the consumer, that will listen? Is everyone afraid to go up against Bank of America? My Country has failed me. We are On the verge of family being homeless, verge of divorce, and going crazy. So we put the World and Universe, in Gods hand and power, so has He heard our cries and shall perform and accomplish, His Will upon All!

  2. Maurice Welsh says:

    I can’t gain access to the full report. Every time I try by hitting Full Report here I get the front page. What up with that. Advise me. Maurice

  3. coach says:

    If you’re relying on this to ‘keep’ your house: you might be dreaming. You must ‘win in court’. I did:

  4. Are we rather late?? This has been going on for 5yrs or more! Quite late for many

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