The Third Circuit on Tuesday reversed in part a lower court’s decision in a class action establishing precedent that FDCPA protections extend to foreclosure complaints. The Third Circuit on Tuesday reversed in part a lower court’s decision in a class action alleging violations of the Fair Debt Collection Practices Act by Bank of America NA and a New…
Student Loan recipients on ‘strike’ meet with federal officials KIMBERLY HEFLING | March 31, 2015 08:04 PM EST | WASHINGTON (AP) — Pamela Hunt is so overwhelmed by her $56,000 in student loans for what she considers a worthless criminal justice master’s degree that she’s joined others on a “debt strike” and refusing to pay back…
March 29, 2015 He’s baaaack. No, neither Jason, nor Freddie, nor Arnold has returned after having been absolutely, irrevocably annihilated in the last episode. Rather, it’s subprime, the evil force that terrorized America, from Wall Street to Main Street to Elm Street, that may be coming soon to a closing near you. A residential mortgage…
ATLANTA, March 23, 2015 (GLOBE NEWSWIRE) — Ocwen Financial Corporation (NYSE:OCN), a leading financial services holding company, yesterday sent a letter of rebuttal to Trustees and Master Servicers for 119 residential mortgage-backed securities trusts in response to a notice of alleged non-performance issued on January 23, 2015 by Gibbs & Bruns LLP. That notice was…
KABOOM: BANK OF AMERICA, N.A., VS PATE AFFIRMED – HOMEOWNERS AWARDED $250,000 IN PUNITIVE DAMAGES DUE TO UNCLEAN HANDS AND FRAUD BANK OF AMERICA, N.A., AND THIRD-PARTY DEFENDANT, HOMEFOCUS SERVICES, LLC, Appellants, v. PHILLIP V. PATE AND BARBARA PATE, ROBERT L. POHLMAN AND MARCIA L. CROOM, Appellees. IN THE DISTRICT COURT OF APPEAL FIRST DISTRICT,…
Foreclosures Drop to Lowest Rate Since July 2006 Foreclosure activity in the United States fell last month to the lowest rate in nearly nine years as banks started the process on fewer homes and scheduled fewer auctions than in the previous month, industry firm RealtyTrac said on Thursday. A total of 101,938 properties across the…
CoreLogic Reports January 2015 National Foreclosure Inventory Down 33.2 Percent Year Over Year —43,000 Completed Foreclosures Reported in January 2015— IRVINE, Calif., March 10, 2015 / PR Newswire / — CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its January 2015 National Foreclosure Report which shows that the…
Peak Corporate Network Principal Eli Tene Warns of Increased Foreclosure Starts on the Horizon as a Result of Recent Increases in Loan Modification Re-Defaults New data indicates rise in foreclosure filings for 2015 with possible links to nationwide wave of loan modification re-defaults associated with government-subsidized loan modification programs. Woodland Hills, CA (PRWEB) March 18,…
Free Web-Based Foreclosure Education Course Offered to General Public Author: Brian Honea March 18, 2015 A new Web-based course that will provide city leaders with strategies to successfully address foreclosures in their cities will be offered for free to the general public, according to an announcement from National League of Cities (NLC) and Wells Fargo on…
CoreLogic Reports 1.2 Million US Borrowers Regained Equity in 2014 5.4 Million Properties Remain in Negative Equity as of Q4 2014 IRVINE, Calif., March 17, 2015 / PR Newswire / — CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released new analysis showing 1.2 million borrowers regained equity in…
Warren Opposes CFPB Reforms By Nicholas Ballasy March 13, 2015 • as reported by Credit Union Times Sen. Elizabeth Warren (D-Mass.) vowed to oppose any changes that restrain the CFPB. “I want to be clear about regulatory changes,” Warren said in a speech at CUNA’s GAC. “If credit unions and community banks can show…
‘Most revealing’ CFPB evidence on class actions? Overdraft fee case study By Alison Frankel March 13, 2015 · Reuters Analysis & Opinion | Alison Frankel After my initial take Tuesday on the 728-page report by the Consumer Financial Protection Board on mandatory arbitration clauses in consumer contracts for financial products and services – which found that class…
