The Massachusetts attorney general sued a unit of Ocwen Financial Corp on Friday, accusing the mortgage servicing company of engaging in abusive practices that harmed thousands of homeowners in the state. The lawsuit, filed in Suffolk County Superior Court, came a week after the U.S. Consumer Financial Protection Bureau, the Florida attorney general and more […]
Foreclosure activity continues to subside and most of the regulatory reforms created to protect distressed borrowers have been implemented. Yet mortgage servicers still haven't fully resolved the operational challenges facing their business. Foreclosure News
NOTICE OF SALE SUPREME COURT COUNTY OF ESSEX LAKEVIEW LOAN SERVICING, LLC, Plaintiff AGAINST SUSAN SWEET A/K/A SUSAN M. SWEET, et al., Defendant Pursuant to a Judgment of Foreclosure and Sale duly dated 12-28-2016 I, the undersigned Referee will sell at public auction at the Essex County Courthouse, 7559 Court Street, Elizabethtown, NY on 3-21-2017 […]
New Residential Investment Corp. agreed to pay Citigroup $ 950 million to buy servicing rights on Fannie Mae- and Freddie Mac-backed loans with $ 97 billion of outstanding balances, the New York-based buyer said Monday in a statement. Citigroup also reached a deal with Cenlar FSB to service its remaining mortgages, and plans to transfer […]
On August 4, the Bureau of Consumer Financial Protection finally adopted amendments to its 2013 mortgage servicing rules . The Servicing Rules implemented provisions in the Dodd-Frank Act to regulate in great detail the residential mortgage servicing business. Foreclosure News
The Consumer Financial Protection Bureau on Thursday finalized new requirements for mortgage servicers that greatly expand consumer protections to a wide range of borrowers. The changes mandate that mortgage servicers provide certain borrowers with foreclosure protections more than once over the life of the loan. Foreclosure News
I don't know how it is that we only have two business days left in July time flies. For me this month has included Honolulu, Denver, Sacramento, San Francisco, and now Austin for several days pretty nifty places. Foreclosure News
As if high default costs haven't been challenging enough for mortgage servicers, a growing number of seriously delinquent loans are Federal Housing Administration products, which require significant upfront investment to resolve. An estimated 25% of all outstanding mortgages that were seriously delinquent at the end of the first quarter of this year were insured by […]
On June 22, 2016, the CFPB released a special edition of its Supervisory Highlights focused on examinations of mortgage servicers between January 2014 and April 2016. Additionally, it released its third update to the mortgage servicing chapter of the CFPB Supervision and Examination Manual. Foreclosure News
MADURA, Plaintiffs-Counter Defendants-Counter Claimants-Appellants, v. BAC HOME LOANS SERVICING, LP, f.k.a. Countrywide Home Loans Servicing, LP, Defendant-Appellee, BANK OF AMERICA, N.A., Defendant-Counter Claimant-Counter Defendant-Third Party Plaintiff-Appellee, COUNTRYWIDE HOMELOANS, INC., Counter-Defendant, UNKNOWN TENANT 2, et al., Third Party Defendants. Foreclosure News