We support reforms to the financial marketplace to curb bad practices by banks and lenders.
mortgages
Foreclosures Decline Dramatically in California in January. New Homeowner Bill of Rights Credited for Big Drop
On February 13, NPR radio reported that foreclosures in California were down by nearly 40 percent. According to the story, RealtyTrac Vice-President Daren Blomquist says a new law brought about the change. That new law is the California Homeowner Bill of Rights which became effective on January 1, 2013. The new law was championed by Continue Reading
Categories: Banking, Mortgages
Tags: California, foreclosures, Homeowner Bill of Rights, mortgages
CFPB Issues New Rules to Curb Mortgage Foreclosure Abuses
The rules set new, national standards to help make sure borrowers are treated fairly
Categories: CFPB, Mortgages
Tags: cfpb, foreclosure, mortgages
Feds Announce New Rules and Settlements on Mortgages
It’s been a busy week for new developments affecting mortgage borrowers and homeowners who lost their homes to foreclosure. The Consumer Financial Protection Bureau (CFPB) announced new regulations on January 10 that, when implemented in 2014, will require banks to honestly characterize the full costs of their mortgage loans and lend only to borrowers that Continue Reading
Categories: CFPB, Mortgages
Tags: cfpb, Fannie Mae, mortgages
CU: CFPB mortgage rule will help consumers avoid bad loans
Bureau should keep up pressure to ensure all mortgages are fair, appropriate
California’s Homeowner Bill of Rights Summary
Application Deadlines for Independent Foreclosure Review and National Mortgage Settlement Aid Coming Soon!
We are closing in on two important deadlines for borrowers who may have been the victims of unlawful foreclosure practices. Two programs, the Independent Foreclosure Review and the National Mortgage Settlement, have been designed to ensure that major loan servicers are held responsible for their actions and that borrowers can receive some compensation as well. Continue Reading
Is the National Mortgage Settlement Delivering Relief to Borrowers?
In February, we wrote about the National Mortgage Settlement, in which five major lenders, Ally Financial, Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo pledged $20 billion to mortgage holders affected by illegal foreclosure practices. Nine months later, we’re beginning to get a better sense of how well the banks are living up to Continue Reading
Reverse mortgage reforms needed to protect seniors
Consumers Union renews call for stricter oversight of reverse mortgages as the CFPB holds a field hearing on the topic
CU Urges California Lawmakers To Protect Homeowners From Foreclosure Abuses
Key votes On “California Homeowner Bill of Rights” scheduled next week
CFPB’s draft rules for mortgage servicers would help consumers avoid foreclosure
Rules for mortgage servicers would avoid foreclosure, cut through the clutter of mortgage statements
Categories: CFPB, Mortgages
Tags: cfpb, foreclosure, mortgages
