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Home | News | Loss Mitigation

Michigan-Based Bank Discussing Settlement With CFPB

seal-on-money

Flagstar Bancorp, Inc. announced earlier this week that it has filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) in order to notify its investors that the bank is currently trying to work out a settlement with the Consumer Financial Protection Bureau (CFPB) regarding alleged violations of financial laws.

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Realtor.com Still Sluggish Amidst DDoS Attack

Move, Inc., reported that it is continuing to combat the distributed denial of service (DDoS) attack which has interrupted its websites' operations since mid-day June 17. The company said in a release that they are "working around-the-clock" to mitigate the attack and restore operations.

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HOPE NOW: Loan Mods Reach 7 Million Mark; 42k in April

HOPE NOW released its latest data on loan modifications, noting that in April approximately 42,000 homeowners completed a modification for their home's mortgage. All told, the organization reported that more than 7.02 million homeowners have completed home mortgage modifications since the third quarter of 2007.

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Ocwen No Longer Requiring Gag Orders on Loan Mods

Mortgage Debt Relief

In a report originally in Reuters, Ocwen will stop requiring gag orders, which disallowed some homeowners from criticizing the company publicly in exchange for having their loan terms modified, according to New York State's Superintendent of Financial Services Benjamin Lawsky.

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