What loanDepot Just Told the SEC About Its 2024 Data Breach
loanDepot’s SEC filing just changed its 2024 data breach assessment from ‘not estimable’ to ‘probable loss.’ Here’s what that means if your data was in it.
Mortgage Related
Posts about mortgages, including home loans, refinancing, interest rates, and strategies to manage payments and avoid foreclosure.
TD Bank Home Equity Loans: A Smart Move or Just Rearranging the Deck Chairs on the Titanic?
Quick Answer: TD Bank home equity loans offer both fixed-rate loans (starting at $10,000, 5-30 year terms) and variable-rate credit lines ($25,000 minimum), allowing borrowing up to 89.99% of home value. While these products provide access to funds, using home equity essentially puts the borrower’s house at risk for debt that may not solve underlying …
Why New Home Prices and Remodel Costs Are Skyrocketing—And Why the U.S. Can’t Just Flip a Switch to Fix It
Quick Answer: Home prices and remodeling costs are skyrocketing due to a combination of rising lumber prices, supply chain disruptions, and new tariffs on Canadian lumber totaling nearly 40%. Lumber futures recently hit $658 per thousand board feet, the highest since 2022, creating significant budget impacts for new construction and renovation projects. Ever look at …
HOA Complaints: $30K Vanishes, State Can’t Act
Quick Answer: Nearly $30,000 disappeared from London House HOA’s account after management company Mastino Management allegedly paid a fraudster through a compromised email invoice in 2021. Eight months later, the Denver condo association still has not recovered the funds despite the large theft.by Brittany Freeman, Rocky Mountain PBSIt was Christmastime in 2021, and Michael St. …
Rent vs Buy in 2022: What’s Worth It?
Steve Rhode tackles the most common question he gets: rent or buy? Using real 2022 data, he explains why buyers in markets like Austin need 6+ years to…
Trustee Loss Mitigation: Red Flags to Know
Quick Answer: Trustee Loss Mitigation appears to be connected to Empire Legal Services, which received a cease and desist order from Oregon in 2019 for operating without proper registration. Consumers should research any debt relief company thoroughly before signing, as this company has sent misleading foreclosure mailers to homeowners.A company named Trustee Loss Mitigation or …
Mr. Cooper Complaints: What the Records Show
Quick Answer: The Consumer Financial Protection Bureau filed complaints against Mr. Cooper (Nationstar Mortgage) for violating federal consumer financial laws and harming mortgage borrowers. The proposed settlement requires Mr. Cooper to pay approximately $73 million in redress to over 40,000 affected borrowers plus a $1.5 million civil penalty.Today the Consumer Financial Protection Bureau (Bureau) filed …
CFPB Settlement: Forensic Loan Auditors Review
Quick Answer: The CFPB reached a settlement with Certified Forensic Loan Auditors and Andrew Lehman, permanently banning them from providing mortgage assistance services and imposing a $3 million consumer redress judgment plus $40,000 civil penalty. The settlement resolves enforcement action against the forensic loan audit company.The issue between the Consumer Financial Protection Bureau (CFPB) and …
Buying a New House? These are the Best Home Warranty Companies
Quick Answer: Home warranty companies provide coverage for major appliances and systems repairs, with annual plans costing $300-700 plus $75-125 trade call fees per service visit. Buyers should compare quotes from multiple companies and carefully review contracts to ensure their specific appliances and systems qualify for coverage.Let’s face it, shopping for a home warranty probably …
Certified Forensic Loan Auditors: Case Update
Quick Answer: The CFPB sued Certified Forensic Loan Auditors (CFLA) for deceptive practices and unlawful advance fees in mortgage assistance services. Michael Carrigan, a named defendant, agreed to a stipulated final judgment requiring full cooperation with the Bureau’s investigation within 14 days of requests.The Consumer Financial Protection Bureau (CFPB) previously went after Certified Forensic Loan …
