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Loan Modifications Fraud Mortgages

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
Bilzin Sumberg

Aurora Resolves Mortgage Modification Class-Action Lawsuit for $5.3 Million

Bilzin Sumberg on

A former goliath of the non-prime lending market, Aurora Loan Services, LLC (“ALS”), recently resolved a class-action lawsuit alleging that it fraudulently induced distressed California borrowers to enter into purported...more

Ballard Spahr LLP

CFPB goes after another mortgage modification business

Ballard Spahr LLP on

The CFPB announced that on December 3, 2012, it filed a second action in the U.S. District Court for the Central District of California seeking to shut down an alleged mortgage modification scam....more

Stinson - Corporate & Securities Law Blog

CFPB Halts Alleged Nationwide Mortgage Loan Modification Scams

The CFPB has announced actions to halt two alleged mortgage loan modification scams it believes ripped-off thousands of struggling homeowners across the country. According to the CFPB, these operations took in more than $10...more

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