Kramer and Kaslow: Even After Mortgage Modification, Alleged Shoddy Bank Practices Hurt Homeowners

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Philip Kramer of the Law Offices of Kramer and Kaslow weighs in on new reports that mortgage modifications may not be what homeowners expect

Kramer & Kaslow

Philip Kramer, lead attorney at the Law Offices of Kramer and Kaslow, recently commented on a Propublica article about mortgage modification issues. According to the news publication, “Many homeowners have been granted a hard-fought mortgage modification only to have their mortgage company effectively pull a bait and switch.”

Propublica goes on to report, “To get a sense of how common this problem is, the nonprofit Connecticut Fair Housing Center conducted an informal survey of 16 legal aid organizations and one private attorney. In nearly a quarter of the 655 cases of modifications they reviewed, the mortgage servicer didn't abide by the terms of the agreement.”

Bryan Hubbard, a spokesman for the Office of the Comptroller of the Currency (OCC), the primary regulator for the country's biggest banks, said in the article that, “Regulators were aware of the problems and are putting processes in place to address them. The banks, for instance, will soon be required to provide a "single point of contact" for each homeowner, so that when an error does occur, the homeowner will supposedly be able reach someone knowledgeable about their case.”

When asked to comment, Philip A. Kramer, a noted litigator whose firm Kramer & Kaslow has filed consolidated plaintiff litigation lawsuits on behalf of hundreds of homeowners against some of the nation’s leading banks, said, “This behavior is typical, sadly. It’s a mixture of arrogance and incompetence. Maybe worse, because what typically happens is that when a homeowner gets an attorney involved, the banks get responsive. That suggests that at the very least, they can get things right when they have to.”

More of Philip Kramer’s observations can be found at the Kramer and Kaslow blog.

PHILIP A. KRAMER is the senior partner of the Law Office of Kramer & Kaslow, in Calabasas, California. Kramer & Kaslow is Martindale Hubbell “AV” rated. Mr. Kramer is a perennial recipient of the prestigious “Southern California Super Lawyer” award.

Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on business litigation, and real property matters. He has prosecuted and defended cases for over twenty five years.

Mr. Kramer is a licensed real estate broker and has spent considerable time providing legal services in connection with real estate issues relating to loan modification and loss mitigation, land use and zoning, environmental issues, easements, construction and development, finance, and landlord tenant matters.

Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 cases. He has appeared on nationally televised programs regarding pre-trial procedure and trial strategy and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of various legal and business issues.

Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in many companies. For more information call (818) 224-3900 or visit


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Stuart R. Simone, Esquire
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