How Much Does It Cost to Refinance a Mortgage?

As a homeowner makes monthly payments on a mortgage, each payment typically contains a mixture of principal and interest. The interest is money paid to the lender with the principal portion reducing the homeowner’s outstanding balance on the mortgage. As the balance goes down, more of each payment will go towards the principal, although it’s … Read more

Nationstar – Mr. Cooper Mortgage Customers Need to Read This

Today the Consumer Financial Protection Bureau (Bureau) filed a complaint and proposed stipulated judgment and order against Nationstar Mortgage, LLC, which does business as Mr. Cooper (Nationstar). The Bureau’s action is part of a coordinated effort between the Bureau, a multistate group of state attorneys general, and state bank regulators. The Bureau alleges that Nationstar … Read more

You Have Less Than a Month to Ask for Mortgage Payment Holiday

It’s not too late to take advantage of these protections but call your mortgage servicer sooner rather than later. For some mortgages, the deadline to request forbearance is December 31, 2020. Don’t wait – get the help you need now. What to do after you enter forbearance This advice applies to both a CARES Act … Read more

Certified Forensic Loan Auditors and Andrew Lehman Reach Settlement Agreement With the CFPB

The issue between the Consumer Financial Protection Bureau (CFPB) and Certified Forensic Loan Auditors and Andrew Lehman get really nasty there for a while but it looks like it is one judge signature from being behind them now. Certified Loan Auditors and Andrew Lehman have agreed to a stipulated final judgment putting the issues with … Read more

Mortgage Company Settles With CFPB Over Accidental Foreclosures

Today the Consumer Financial Protection Bureau (Bureau) settled with Specialized Loan Servicing, LLC (SLS), a mortgage-loan servicer in Colorado. As of February 29, 2020, SLS serviced a portfolio of mortgage loans worth about $112.69 billion. The consent order requires SLS to pay $1.275 million in monetary relief to consumers in the form of redress and … Read more

Borrower Protection Program Details For Mortgage Assistance

Today, the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) announced the Borrower Protection Program (the Program), a new joint initiative that enables CFPB and FHFA to share servicing information to protect borrowers during the coronavirus national emergency. Under the program, the CFPB will make complaint information and analytical tools available … Read more

Mortgage Debt Relief Firms Ordered to Finally Pay Up for Actions

Mortgage Law Group and the Consumer First Legal Group ordered to pay $59 Million for mortgage debt relief activities according to Bloomberg Law. “The bankruptcy estates of the Mortgage Law Group and the Consumer First Legal Group, along with the firms’ principle members, will pay a combined $59 million in restitution and civil money penalties, … Read more

Movement on Case Against Certified Forensic Loan Auditors as it Appears One Person Flips

The Consumer Financial Protection Bureau (CFPB) previously went after Certified Forensic Loan Auditors (CFLA) who then in return went after the CFPB. According to the CFPB, “The Consumer Financial Protection Bureau (Bureau) filed a complaint in federal court in the Central District of California against Certified Forensic Loan Auditors, LLC (CFLA), Andrew Lehman (Lehman), and … Read more

Why Can’t My Clients from Brookstone Law Get a Fair Shake?

Question: Dear Steve, Would you like to help me get the word out about what happened in the Brookstone lawyers case that took out a few lawyers and left consumers without counsel and without their discovery given to Brookstone lawyers and taken by feds? The bank hired an attorney to contact all the Plaintiffs (hundreds … Read more

Homeowners Across Country are Silent Financial Victims of Tax Changes

Because of the 2017 tax law, U.S. house prices overall are about 4% lower than they’d otherwise be. You end up with a $1.04 trillion setback for the nation’s homeowners. Eliminating the deduction for millions of homeowners inflicted serious financial damage on homeowners who had no warning that a major tax deduction that they were … Read more

Certified Forensic Loan Auditors Digs in Against CFPB Suit With Ballsy Approach

While I’ve yet to see any other debt relief company come out clean after attacking the CFPB, it appears that is the approach Certified Forensic Loan Auditors is going to take. Certified Forensic Loan Auditors was sued by the CFPB. In the suit, the CFPB alleged since at least 2014, Certified Loan Auditors was selling … Read more