The Consumer Financial Protection Bureau (CFPB) is working to make sure that financial services providers – like debt collectors and mortgage lenders – follow the law. They keep a close watch to keep you from getting treated unfairly. This week, the CFPB released a report on their supervision work in several areas, including mortgage lending, mortgage servicing, debt Continue Reading
Safeguards aim to ensure borrowers are treated fairly and don’t end up with a mortgage they can’t afford
The purpose of the Nevada Homeowner Bill of Rights is to increase predictability for all parties involved in the foreclosure process and provide strong but fair accountability measures by extending protections to all residential mortgages written in Nevada.
By Norma Garcia The Washington Post reported today that the top federal U.S. prosecutor in Manhattan filed a civil lawsuit against Bank of America for more than $1 billion for mortgage fraud. The complaint filed by the US Attorney seeks to recover damages and penalties for a scheme to defraud Fannie Mae and Freddie Continue Reading
Consumers Union renews call for stricter oversight of reverse mortgages as the CFPB holds a field hearing on the topic
By Norma Garcia The Department of Justice and the 49 attorneys general who are parties to the National Mortgage Settlement reached on February 10th with the five major banks/servicers are warning the public to beware of scams related to the settlement. There are already scammers at work pitching their services to the unwary, trying to Continue Reading
In his State of the Union Address on Tuesday, President Obama announced the creation of a special new joint federal-state Task Force charged with investigating the mortgage crisis and the resulting damage to homeowners and investors. The Task Force is known as the Residential Mortgage-Backed Securities Working Group. President Obama announced that New York Attorney Continue Reading