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mortgages

New CFPB mortgage rules go into effect on January 10

Safeguards aim to ensure borrowers are treated fairly and don’t end up with a mortgage they can’t afford

Categories: CFPB, Mortgages
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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
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CFPB Issues New Rules to Curb Mortgage Foreclosure Abuses

The rules set new, national standards to help make sure borrowers are treated fairly

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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
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CU: CFPB mortgage rule will help consumers avoid bad loans

Bureau should keep up pressure to ensure all mortgages are fair, appropriate

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California’s Homeowner Bill of Rights Summary

What borrowers need to know

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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

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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

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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

Categories: CFPB, Mortgages
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CU Urges California Lawmakers To Protect Homeowners From Foreclosure Abuses

Key votes On “California Homeowner Bill of Rights” scheduled next week

Categories: Mortgages
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