The CFPB has entered into a consent order with Westlake Services, LLC, an indirect auto finance company, and its wholly owned subsidiary, Wilshire Consumer Credit, LLC, for alleged deceptive debt collection practices. The...more
10/5/2015
/ Automotive Industry ,
Automotive Loans ,
Borrowers ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Criminal Prosecution ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Financial Institutions ,
Lenders ,
Motor Vehicles ,
Redress Payments ,
Repossess ,
Title Loans ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
Home equity conversion mortgages, commonly known as “reverse mortgages” are popular loan products in Florida. In order to foreclose on a reverse mortgage, the lender generally must allege that all conditions necessary to...more
8/12/2015
/ Appeals ,
Borrowers ,
Financial Institutions ,
Foreclosure ,
Home Equity ,
Home Equity Line of Credit ,
Homestead Exemption ,
HUD ,
Judicial Foreclosure Process ,
Mortgage Insurance ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Promissory Notes ,
Reverse Mortgages ,
Spouses ,
Surviving Spouse
A recent decision from the U.S. District Court for the Northern District of Alabama may provide borrowers who rent portions of their property to tenants with an avenue for challenging a foreclosure. The court's analysis...more
In a decision that narrows the scope of potential liability for assignees of second mortgage loans secured by Maryland properties, the state’s intermediate appellate court recently rejected an attempt by borrowers to hold an...more