Federal regulators allege bank improperly denied thousands of mortgage loan modifications over at least seven years, in some cases leading customers to lose their homes. Continue reading
CFPB alleges some homeowners who sought forbearance during the pandemic were charged improper late fees and weren’t fully informed of their options. Continue reading
No new LIBOR loans will be allowed after this year, but there’s also the matter of what to do with roughly $1.4 trillion in existing loans tied to LIBOR. Continue reading
Wells Fargo has agreed to pay a $250M fine after an investigation by federal banking regulators found fault with its practices for helping homeowners with mortgage problems. Continue reading
The numbers are headed in the wrong direction for loans that are backed by private lenders rather than the government, according to new survey by the Mortgage Bankers Association. Continue reading
Fannie and Freddie will use new price-based qualified mortgage rule for loans with settlement dates after Aug. 31. Continue reading
Before initiating foreclosures against borrowers who are 120 days behind on their payments, the Consumer Financial Protection Bureau expects loan servicers to reach out to borrowers and give them a chance to apply for assistance, such as a loan modific… Continue reading
Mortgage lenders will soon be able to initiate foreclosure proceedings against homeowners who are 120 days behind on their mortgage payments. Continue reading
Lenders in 2020 refinanced more than twice as many loans as they reported the previous year, a dramatic feature of the pandemic lending boom. Continue reading
The joint letter issued to landlords entreated them to ensure that they and their debt collectors were fully complying with the FTC Act and the Fair Debt Collection Practices Act. Continue reading