Tag Archives: Mortgage Servicers

Foreclosure prevention counselors have saved homeowners millions of dollars annually, according to a recent study by the Urban Institute for NeighborWorks America.

The Consumer Financial Protection Bureau (CFPB) issued a bulletin on August 19 for mortgage servicers, outlining how they should handle the loan transfer process. The bulletin includes a reminder to mortgage servicers to pay close attention to the new common-sense mortgaging rules implemented by the CFPB in January 2014, aimed at protecting consumers from being harmed during loan transfers.

Freddie Mac commented Wednesday that its' full menu of mortgage relief policies are available for borrowers who are affected by disasters in the state of Washington from recent flooding and landslides. The company said, "Freddie Mac's disaster relief policies enable servicers to help borrowers with homes in presidentially declared Major Disaster Areas where federal Individual Assistance programs are being made available."

The California Department of Business Oversight, along with 48 other states, reached a settlement with Ocwen Financial Corporation and Ocwen Loan Servicing, according to a press release issued by the department. The $2.1 billion settlement was in response to violations regarding mortgage servicing laws.