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Tag Archives: Attorney General

Committed to Consumer Protection

Amidst a serious push by Republicans in Congress to restructure—or even dismantle the CFPB, Pennsylvania recently joins other states that have taken steps to double down on consumer finance laws to protect citizens from financial scams. Attorney General Josh Shapiro ...

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RBS Plans to Settle Litigation

Royal Bank of Scotland (RBS) CEO Ross McEwan has stated that the bank is in talks to settle one of the two major U.S. investigations into allegations it mis-sold mortgage-backed securities. The bank had previously felt a reprieve in the case following the firing of acting Attorney General Sally Yates. McEwen stated that the bank could settle a lawsuit by the Federal Housing Finance Agency apart from another investigation by the Department of Justice (DOJ). The DOJ investigation has been stalled due to the changes in the U.S. government since President Trump’s election, Reuters reports.

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Major Servicers Fail Seven Settlement Compliance Tests

The former banking regulator overseeing the National Mortgage Settlement has released a summary of the latest reports he filed with a federal court in Washington, D.C. The reports detail the performance of five major servicers in meeting the terms of the agreement reached with 49 state attorneys general and federal officials. Joseph Smith says he's confirmed six fails in the first quarter of 2013 and one in the second quarter.

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Safeguard Files Motion to Dismiss Illinois AG Suit

Safeguard Properties LLC filed on Tuesday a motion to dismiss a complaint brought against the company by Illinois Attorney General Lisa Madigan, who has charged Safeguard with illegally evicting homeowners before their foreclosures were finalized.

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City of Las Vegas Contributes $100K for Nevada Homeowner Program

The city of Las Vegas partnered with Nevada Attorney General Catherine Cortez Masto in addressing the state's housing crisis by contributing $100,000 for a homeowner relief program initiated by the attorney general. The contribution came from the city's HUD grant funds and will be used to increase awareness of Home Again.

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National Mortgage Settlement Checks Set to Go Out

National Mortgage Settlement checks for about $1,480 will be sent starting June 10, with a completion date of June 17. According to releases from different state attorneys general offices, Rust Consulting, the settlement administrator, will mail payments associated with 962,278 loans. According to the mortgage settlement website, about $1.5 billion from the $25 billion settlement will be used to compensate eligible borrowers. In order to be considered for payment relief, borrowers had to submit a valid foreclosure claim.

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New York AG Sues HSBC, Alleging Failure to Follow Foreclosure Law

HSBC faces a lawsuit from New York Attorney General Eric T. Schneiderman, who accused the bank of failing to follow a state foreclosure law that mandates a settlement conference for past due borrowers. In a statement, Schneiderman announced he filed a lawsuit against HSBC, alleging the bank repeatedly failed to file a Request for Judicial Intervention (RJI) in a timely manner. According to Schneiderman, delays in filing the RJI increase the risk that homeowners will lose their home and leads to a backlog of foreclosure cases.

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New York AG Presses for Passage of Two Foreclosure Bills

New York Attorney General Eric T. Schneiderman recently brought attention to two foreclosure bills meant to provide greater protection to homeowners in the state. The Certificate of Merit gives homeowners who are facing foreclosure the chance to participate in a court-supervised mediation session with their bank.

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