Mortgage Debt Archives - Page 5 of 58

April 22, 2015 by Patrick Lunsford in CFPB

CFPB and FTC Settle Debt Collection Charges with Mortgage Servicer for $63 million

The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) Tuesday announced a settlement with a national mortgage servicing company over charges that it engaged in illegal debt collection...

April 21, 2015 by Patrick Lunsford in Collection Law Firms

Circuit Court Revives FDCPA Suit Over Collection Law Firm's Actions

The Third Circuit Court of Appeals earlier this month reversed a lower court’s ruling in a case brought against Bank of America in which the plaintiff alleged FDCPA violations on...

February 6, 2015 in Collection Laws and Regulations

Mortgage Loan Modification Group Settles with FTC for $28 million

A group of Utah-based defendants claiming to be legal experts in loan modifications have settled Federal Trade Commission charges that they broke the law by conning consumers into paying hefty...

January 23, 2015 by Patrick Lunsford in CFPB

CFPB Hits Wells Fargo and JPMorgan Chase for Mortgage Title Kickbacks

The Consumer Financial Protection Bureau (CFPB) and the Maryland Attorney General announced Thursday that they have taken action against Wells Fargo and JPMorgan Chase for an illegal marketing-services-kickback scheme they...

January 13, 2015 in CFPB

CFPB Releases Toolkit to Help Consumers Shopping for a Mortgage

Today, the Consumer Financial Protection Bureau (CFPB) released a report finding that almost half of consumers do not shop around for a mortgage when purchasing a home. The report also...

January 8, 2015 in Auto Finance Receivables

Consumer Debt Delinquencies Continued Broad Decline in Third Quarter

Delinquencies continued to decline in last year’s third quarter, falling in seven out of 11 categories as the economy improved and consumers responsibly managed their finances, according to results from...

December 17, 2014 by Patrick Lunsford in Auto Finance Receivables

Big Shifts in Debt by Age: A Very Literal Interpretation of Knowing Your Debtor

Patrick Lunsford A recent credit report study from TransUnion found that the composition of loans that people typically carry has materially changed for both the youngest and oldest segments of...

November 19, 2014 in Mortgage Debt

National Mortgage Delinquency Rate Declines: TransUnion

The mortgage delinquency rate (the rate of borrowers 60 days or more delinquent on their mortgages) continued its robust decline, falling for the 11th straight quarter to 3.36% at the...

November 17, 2014 by Mike Ginsberg in Debt Collection

Remember Mortgage Crisis: Lowering Down Payments Might Not Be the Answer

Mike Ginsberg The mortgage market is over $8 trillion, and nearly 70 percent of all consumer debt, so changes in the mortgage market have a huge impact on all other...

November 3, 2014 in Collection Laws and Regulations

Green Tree Servicing Settles with Vermont Attorney General Over Debt Collection Practices

Green Tree Servicing, LLC, a national servicer of residential mortgage loans, will pay Vermont consumers a total of $55,250 for the company’s debt collection practices and late payment of property...

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