CFPB Takes Action Against Nationstar Mortgage for Flawed Mortgage Loan Reporting

CFPB Takes Action Against Nationstar Mortgage for Flawed Mortgage Loan Reporting Bureau’s $1.75 Million Civil Penalty for Persistent and Substantial Reporting Errors is the CFPB’s Largest Penalty to Date for HMDA Violations WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today ordered Nationstar Mortgage LLC to pay a $1.75 million civil penalty for violating the … Read more

Goldman Sachs Goes on Buying Binge for Delinquent Mortgages

Goldman Sachs Goes on Buying Binge for Delinquent Mortgages Goldman Sachs Group Inc. has become the largest buyer of severely delinquent home loans from mortgage giant Fannie Mae over the past year and a half, acquiring nearly two-thirds of $9.6 billion in loans the agency has auctioned, government records show. On Tuesday Goldman won the … Read more

New Data: More Than 1.1 Million Federal Student Loan Defaults in 2016

New Data: More Than 1.1 Million Federal Student Loan Defaults in 2016 Largest Student Loan Servicer, Navient, Lags in Affordable Repayment Plan Sign-Ups Washington, D.C. – Analysis of new data released by the U.S. Department of Education reveals millions of Americans are in default on Federal Direct Loans serviced by companies hired by the federal … Read more

Trashed Out: Woman ‘Mistakenly’ Evicted, Belongings Thrown in Dumpster

“Whoever gave approval for people to enter the apartment could face possible burglary and theft charges.” ~ Woman wrongly evicted from Jacksonville apartment, belongings thrown in trash A woman said she was wrongly kicked out of her Jacksonville apartment and management trashed all of her personal belongings. Brianna Davis said she was in class and … Read more

Death Clause: Home Foreclosed Despite Never Missing a Payment

Uncommon mortgage clause leaves grieving Va. family without home POWHATAN COUNTY, Va. — A family home was sold to the highest bidder Friday; it was an auction overshadowed by tears. Peggy Stroud wept as a bidder bought the home she grew up in on Urbine Road. Stroud said the home is the place where her mother … Read more

Unclean Hands: FICO to Exclude Certain Negative Information Boosting The Pool of Eligible ‘Credit-Worthy’ Mortgage Recipients

“It’s going to make someone who has poor credit look better than they should,” said John Ulzheimer, a credit specialist and former manager at Experian and credit-score creator FICO. “Just because the lien or judgment information has been removed and someone’s score has improved doesn’t mean they’ll magically become a better credit risk.” ~ Credit Reports to … Read more