Foreclosure
Former Fannie Mae REO Foreclosure Specialist indicted for Accepting Bribes
Given the recent market volatility, the accusation against former Fannie Mae REO Foreclosure Specialist, Shirene Hernandez, is no longer a leading story. But Homeowners losing their homes to foreclosure can’t overlook this issue. Banks have been accused of mortgage fraud, robo-signing, foreclosure fraud and more. When have you heard charges against Fannie Mae (FNMA)? Now…
Read MoreWells Fargo Unprecedented Fine Caps Growth-Stock Price Tumbled
Wells Fargo Unprecedented Fine Caps Growth-Stock Price Tumbled Monday, February 5, 2018 was a bad day on the stock markets. For Wells Fargo Bank, it was much worse. Wells Fargo shares tumbled 9.2% on Monday — their biggest single-day drop since the financial crisis. Janet Yellen’s last act as Chair of the Federal Reserve, was…
Read MoreBank of America and Wells Fargo Closing the Gender Pay Gap
Bank of America and Wells Fargo Closing the Gender Pay Gap In the last decade, Bank of America and Wells Fargo have been accused, and settled for loads of cash much wrongdoing – robo-signing, fraudulent foreclosures, mishandling of loans etc. It is good to see something positive about both banks. Following Gender Pay Gap Shareholder…
Read MoreAnother FHA Lender Settles False Claim Suit, for $11.7 Million
Last Month the US Department of Justice (DOJ) settled its suit against Louisiana based IberiaBank for $11.7 Million for FHA Mortgages that were falsely certified as FHA compliant. 20% of that settlement was split between two whistleblowers. Meanwhile, lenders are complaining that FHA isn’t trustworthy. Wait, who misrepresented the loans as FHA compliant? While Ben…
Read MoreBank Libor Rigging Suit Yields New Round of Fines Settlements
If you are still in an adjustable rate loan, look at your loan documents. Is the rate based on the LIBOR (London Inter Bank Offered Rate)? If you answered yes, sit up and take note. An international investigation into Libor rigging, begun in 2012 revealed widespread multi-bank rate fixing. Interest rates were discovered to have…
Read MoreOcwen Pulling Out of Correspondent Lending
Ocwen Pulling Out of Correspondent Lending More than 20 state business regulators issued regulatory enforcement orders in April of 2017 to auxiliaries of Ocwen Financial Corp to address “misusing of buyer escrow accounts and a lacking financial condition,” as indicated by an April news discharge from the North Carolina Office of the Commissioner of Banks.
Read MoreForeclosure Rates Slowly Decreasing Until Harvey Roared
The Summer that Foreclosures and Delinquencies Stabilized Foreclosure Rates Slowly Decreasing Until Harvey Roared Nearly 10 years after the Troubled Assets Relief Program (TARP) was established, Foreclosure rates remain stagnant, when comparing month to month, but is actually down year over year by over 27 percent. When congress authorized TARP through the Emergency Economic Stabilization…
Read MoreForeclosure Aternatives-3 Ways You Can Still Avoid Foreclosure
If you know, you’re heading to foreclosure you may sell your house in what is referred to as a brief sale if you are able to negotiate with the lender to take less than that which you owe on your house loan. A foreclosure is bad enough, but a legal eviction will basically prove to…
Read MoreMortgage Help Tips & Guide
Possible Warning Signs on Mortgage Help You Need to Be Aware Of Finding Mortgage Help There is a lot of confusion out there about which assistance will save your home, and how it works. Then there are submissions and resubmissions of documents. Lenders request some documents, even if you already sent them, and you have…
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