by Ryan Smith23 Apr 2018 Wells Fargo has extended the deadline for customers to participate in a $142 million class-action settlement over its fake-accounts scandal. The settlement is meant to compensate Wells Fargo customers who had unauthorized accounts opened in their name. It was revealed in 2016 that Wells Fargo employees, in an effort to …
Tag: FDCPA Federal Complaint
Sean Hannity linked to property empire aided by foreclosures, HUD: report
Fox News host who said Trump’s fixer ‘knows real estate’ has a portfolio that includes support from Department of Housing and Urban Development, a fact he did not mention when interviewing secretary Ben Carson last year When Sean Hannity was named in court this week as a client of Donald Trump’s embattled legal fixer Michael Cohen, the …
Affordability has worsened in more metros than have improved
by Steve Randall19 Apr 2018 Issues surrounding supply levels and affordability in many US metros is getting worse, with more showing a decline than an improvement. A new joint-study by the National Association of Realtors and Realtor.com shows that, out of the metros analyzed, affordability worsened in 45 and improved in 34. The study looked …
Real estate is in good shape but residential is challenged
by Steve Randall19 Apr 2018 Things are looking positive overall for the real estate industry but there are some concerns over the residential sector. A new study says that the changes to taxation give a boost to the latest economic forecast for the industry from the Urban Land Institute, based on a survey of 48 …
Banking group slams Mulvaney, demands stronger CFPB
by Ryan Smith18 Apr 2018 An advocacy group made up of bank workers and community and consumer advocates has slammed the acting director of the Consumer Financial Protection Bureau for cutting back on the agency’s regulatory enforcement. The CFPB has not taken a single enforcement action since Acting Director Mick Mulvaney took the helm, the …
Consumer caution in Q1 weighs on Fannie Mae’s 2018 growth outlook
by Francis Monfort18 Apr 2018 Fannie Mae has slightly lowered its full-year 2018 economic growth outlook on cautious consumer spending during the first quarter following an unsustainable fourth-quarter pace. Growth for the year is still expected to be strong at 2.7%, but the new forecast is down by one-tenth compared to the previous 2.8% prediction, …
Wells Fargo fired whistleblower for complaints about incentives to mislead: lawsuit
The former head of beleaguered San Francisco-based bank Wells Fargo’s foreign exchange group claims he was fired weeks before he was to tell federal regulators about incentives that encouraged employees to “make false and misleading representations to customers, to engage in abusive sales practices, and to enrich themselves at the expense of clients.” That’s according …
Citadel’s success illustrates the importance of adding non-prime to your toolbox
by Ryan Smith12 Apr 2018 Most Read Upcoming mortgage Regulatory and Legislative Changes? Subprime lending is back, but don’t call it thatUnlike the risky subprime mortgages before the financial crisis, these new products have stricter regulations and are under a different name. Citadel Servicing Corp. just keeps breaking records – and its success is a …
Zillow to begin buying, selling homes directly
by Ryan Smith12 Apr 2018 Most Read The Many Ways to Be Relieved of Your Timeshare ObligationsWhile it is true that a timeshare contract is a binding legal document, it is often mistakenly thought that such a contract cannot only be cancelled. In fact, most timeshare companies maintain that their contracts are non – cancellable. …
Are you neglecting your most important tool as an originator?
by Ryan Smith11 Apr 2018 With the mortgage market becoming more challenging by the day, originators need to take advantage of what they can control and already own. However, most originators forget that this resource is available or simply don’t understand the value. What are we talking about? The thing that you spend countless hours …