Mortgage Servicers Are Warned A 3rd Time To Adhere To The CARES Act

The CFPB And Conference of State Bank Supervisors Warn Mortgage Servicers To Adhere To The CARES Act For The 3rd Time Government agencies have issued a third warning to mortgage servicers to adhere to the CARES Act. The CFPB and the Conference of State Bank Supervisors have sent their third warning to mortgage servicers. The […]

Mortgage Forbearance

Mortgage Forbearance Alert: 4.2 Million Mortgages In Forbearance

Mortgage Forbearance Alert: Whopping 4.2 Million Homeowners Are In Mortgage Forbearance Agreements Mortgage lenders across the USA have placed a whopping 4.2 million mortgage in mortgage forbearance. The Mortgage Bankers Associations says this represents 8.4% of outstanding home loans. The numbers increased from 4.1 million mortgages last week. The MBA says Ginnie Mae mortgages were […]

COVID-19 Mortgage Forbearance

COVID-19 Mortgage Forbearance Alert: Mortgage Servicers Busted Again!

Mortgage Servicers Busted Reporting COVID-19 Mortgage Forbearance Agreements To Credit Reporting Agencies Mortgage servicers are at it again with the shady tactics. This time they are reporting COVID-19 mortgage forbearance agreements to the credit reporting agencies.  Mortgages in forbearance as a result of COVID-19 have to be reported as “current” on credit reports. That’s the […]

credit bureaus

Credit Bureaus Can Report Your Foreclosure Even If You Beat The Bank

Illinois Federal Judge Rules Credit Bureaus Can Report Your Mortgage Delinquencies Even If You Beat The Foreclosure A federal judge in Illinois has ruled that a lender report your mortgage default to the credit bureaus. The court stated a dismissal with prejudice is a non-issue when reporting the default because the loan was still in […]

bankruptcy

Bankruptcy Will Cause Your Credit Score To Plummet

How You Can Keep Your Credit Score From Plummeting After A Bankruptcy Clients always ask about the effect a bankruptcy will have on their credit report. The Bankruptcy Court nor the BK Trustee have absolutely nothing to do with credit reporting agencies. Private corporations like Equifax and Experian report the data. However, federal law still […]

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