201607.05
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FCRT: CFPB Reveals Mortgage Servicing Problems

In this episode of the FCRT Adam Deutsch discusses the CFPB supervisory report on the mortgage servicing industry. He reviews the report and provides additional insight for homeowners in relation to RESPA , the Real Estate Settlement and Procedures Act. In this eleventh issue of Supervisory Highlights, (6/23/16) we share findings from recent supervisory examination observations in mortgage servicing. …

201606.28
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Will NJ Borrowers be Helped by Fannie Mae’s Updated Risk Model ?

Fannie Mae’s Updated Risk Model Will Better Assess Non-Traditional Borrowers During the weekend of September 24, 2016, Fannie Mae will implement Desktop Underwriter® (DU®) Version 10.0, which will include the changes described below. To support our lending partners, Fannie Mae continues to make ongoing investments in our risk management tools, enabling greater confidence and efficiency…

201606.28
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FCRT Podcast: Jerry Ashton Author of RIP Medical Debt

In this edition of the Financial Consumer Rights Talk, attorney Adam Deutsch discusses medical debt with author Jerry Ashton, a veteran, gadfly and critic of the excesses of the credit and collections industry. Inspired by the Occupy Wall Street movement’s “Rolling Jubilee” campaign against medical debt, he came out of semi-retirement in 2014 to co-found RIP Medical…

201606.24
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Report: Some mortgage servicers not following rules

JUNE 23, 2016, 6:39 PM LAST UPDATED: THURSDAY, JUNE 23, 2016, 6:39 PM Report: Some mortgage servicers not following rules BY RICHARD NEWMAN STAFF WRITER | THE RECORD Some mortgage servicers are not following post-financial-crisis rules that help struggling borrowers modify loans and avoid foreclosure, the Consumer Financial Protection Bureau says in a new report. The…

201606.23
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CFPB Supervisory Highlights Mortgage Servicing Special Edition (Issue 11)

In this eleventh issue of Supervisory Highlights, we share findings from recent supervisory examination observations in mortgage servicing.  To provide additional context for readers, we integrate these recent observations with observations from previous editions of Supervisory Highlights by subject matter – loss mitigation acknowledgement notices; loss mitigation offers and related communications; loan modification denial notices; policies and procedures;…

201606.16
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NJ Homes in Preforeclosure Rising

In April preforeclosures were up over March by 44.6% . This continued the trend of increasing numbers of homes in preforeclosure reported in February. The decline in preforeclosures was the trend through the end of 2015. The problem of home foreclosure in New Jersey unfortunately continues. MARKET SUMMARY In New Jersey, there are currently 64,487…

201606.09
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Foreclosure Fraud: Can it Happen Again?

We’re sharing a story from 4closurefraud.org sourced from newamerica.org in to introduce you to two additional resources to learn more about issues impacting consumer finance. New America: Foreclosure Fraud in the Wake of the Great Recession A discussion of foreclosure fraud in the wake of the Great Recession and how it led to new policy…

201606.02
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Jury Awards Man $2.5 in Punitive Damages Against Ocwen for Willfully Violating the FCRA

Jury Awards Man $2.5 in Punitive Damages Against Ocwen for Willfully Violating the FCRA Attorney Adam Deutsch of the law firm Denbeaux and Denbeaux talks about the award of $2.5 in punitive damages in a foreclosure case. He explains why the jury made the award, how the case developed and what homeowners in NJ can expect if they…