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CFPB targets zombie foreclosures

CFPB Hunting Zombie Foreclosures The Consumer Financial Protection Bureau has turned its attention to "zombie" foreclosures, as reported by Reuters. A zombie foreclosure occurs when a bank begins a foreclosure, but then abandons the process without informing the homeowner.

The Consumer Financial Protection Bureau is keeping an eye on "zombie" foreclosures, which it worries cause "direct borrower harm," according to a CFPB executive. Zombie foreclosures occur.

Home remodeling activity continues ascension: BuildFax Delays push foreclosures to 40-month low in April FOR IMMEDIATE release: january 28, 2019 national consumer law center contact: jan Kruse (jkruse@nclc.org) or (617) 542-8010 BOSTON As the potentially chaotic tax filing season officially begins today after a protracted government shutdown, advocates from the National Consumer Law Center issued their annual consumer advisory on taxpayer consumer protection issues.Remodeling activity reaches record Levels According to BuildFax Remodeling Index for June, real-estate index shows record high since 2004

The Consumer Financial Protection Bureau (CFPB) today sued one of the country’s largest nonbank mortgage loan servicers, Ocwen Financial Corporation (NYSE: OCN), and its subsidiaries for failing.

"The foreclosure crisis left neighborhoods scarred by vacant and abandoned properties. The introduction of the abandoned property neighborhood Relief Act brings New York State a step closer to curing.

 · The result is that the numbers have shifted. Vacant homes in the foreclosure process are expected to drop 9 percent in the third quarter from a year ago, but vacant bank-owned properties are.

PENSACOLA, Florida — Paul Stadden thought he had the perfect outfit for a survivor at the second Pensacola Zombie Run 5K, dressing as "The Walking Dead"’s lead character Rick Grimes. There was one.

A huge problem for HOA and condo associations over the past 5 years has been "zombie foreclosures." That’s where a bank starts the foreclosure process on a property and the owner moves out, but then the bank doesn’t complete the foreclosure (no state law requires banks to complete foreclosure within a timeframe).

Fannie Mae: Homeowner optimism soars to new highs Housing sentiment fell to its lowest level in a year in October, according to a monthly survey by fannie mae. reached a new high. "The contrast between the survey’s findings of weak home buying.

CFPB targets foreclosure abusepreventing foreclosure abuse by mortgage servicers is the target of new provisions in the Consumer Financial Protection Bureau’s (CFPB) federal overhaul of mortgage regulations.The rules establish new, strong protections for struggling homeowners facing foreclosureNearly a year in the making, foreclosure abuse protections were mandated by the 2010 Dodd-Frank.

On Thursday January 22, 2015, the Consumer Financial Protection Bureau (CFPB) and the Maryland Attorney General ordered two banks to pay more the $37 million in fines for illegal payments for referrals under the guise of marketing and other agreements under the Real Estate Settlement Procedures Act (RESPA).

Feds should do more to help underwater borrowers: Moody’s Affordable Refinance Program (HARP), so-called "HARP 2.0," to attract more eligible borrowers by removing the 125% LTV (Loan to Value ratio) cap, modifying lender representations and warranties, and expanding MBS eligibility. As a result of these program changes, the number of eligible underwater borrowers greatly expanded

The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives.