Wells Fargo, Chase, U.S. Bank still fail mortgage servicing tests E. SCOTT RECKARD, LA Times Four years after pledging to clean up wide-ranging foreclosure abuses, Wells Fargo & Co., JPMorgan Chase & Co. and four other banks still aren’t complying with customer-service standards imposed by a federal regulator. The Office of the Comptroller of the […]
The U.S. Supreme Court Votes 5-4 To Broadens The Reach Of The Fair Housing Act The Supreme Court by a 5-4 vote has not only affirmed the legitimacy of the Fair Housing Act passed in 1968 to combat housing discrimination but has broadened it reach by ruling that the law not only allows people to make […]
DOJ Claims Richard Michael Colbert Committed Bank Fraud and Money Laundering As Part Of A Mortgage Fraud Scheme Richard Michael Colbert, 54, of Pensacola Beach, was charged by a federal grand jury with 15 felony counts, including one count of conspiracy to commit bank fraud and/or mail fraud affecting a financial institution, four counts of false […]
Washington State Accuses Quicken Loans Of Deceiving Active Military Personnel & Veterans The state of Washington is charging Quicken Loans with targeting 35,000 active military personnel and veterans with deceptive mortgage offers. The Consumer Services Division of the Washington State Department of Financial Institutions claims that Quicken Loans falsely implied they were associated with the U.S. […]
New Rules For Reverse Mortgages Would Allow Non-Borrowing Partners To Remain In The Home FHA announced changes to its reverse mortgage program that would allow non-borrowing spouses to stay in their homes after the last surviving borrower dies. FHA released new guidance earlier this year allowing FHA-approved lenders to delay foreclosure proceedings against non-borrowing spouses. Non-borrower […]
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