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Loan Modifications › Mortgage Servicers › Banks

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 -
Goodwin

OCC Imposes $70 Million Fine Against National Bank for Allegedly Violating Mortgage Servicing Consent Order

Goodwin on

On May 25, the Office of the Comptroller of Currency (OCC) entered a consent order with a national bank stemming from allegations that the bank violated a 2011 consent order concerning its mortgage servicing related...more

Carlton Fields

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

Carlton Fields on

In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

Burr & Forman

Another Bankruptcy Court Confirms Plan Reference to “Surrender” Means Not Defending a Lender’s Foreclosure

Burr & Forman on

Foreclosure defense and bankruptcy often go hand in hand, but sometimes it seems like the left hand doesn’t talk to the right. This has proven especially common with bankruptcy plans that propose to “surrender” real property...more

Nexsen Pruet, PLLC

Why the Flagstar Bank Case is Important - Blog: Consumer Financial Protection Bureau

Nexsen Pruet, PLLC on

Let’s revisit the Flagstar Bank case which I touched on in my November 20, 2014 posting. This is an important case for a number of reasons, most notably because it was the CFPB’s first enforcement action under the CFPB’s new...more

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