Is the FTC Acting More Fairly Toward Collectors?

For those of us who have been in the ARM industry for a while, it does not seem imaginable, but it happened twice in the past week; the FTC acted favorably toward bill collectors.

Yesterday, insideARM Editor Patrick Lunsford reported that the FTC quickly ruled that it is not a violation of the FDCPA for mortgage collectors, in their initial consumer communication, to inform a debtor of settlement options that could prevent foreclosure (See the actual letter at http://www.ftc.gov/os/2008/03/P084801fdcpa.pdf).