Credit Manipulator

Green Tree to Pay $48 Million in Borrower Restitution and $15 Million Fine for Servicing Failures

CFPB and FTC Fine Green Tree Servicing for Mistreating Distressed Homeowners WASHINGTON, D.C.– Today, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) took action against Green Tree Servicing, LLC, for mistreating mortgage borrowers who were trying to save their homes from foreclosure. The mortgage servicer failed to honor modifications for loans […]

OCWEN Knows You’re Pissed…

The explosion of non-bank mortgage servicers is hurting American homeowners. JOEL SUCHER, In These Times …And that’s because the nation’s largest non-bank mortgage servicer has supplied its legions of outsourced customer reps in India with a software program that gauges the stress level of callers. Aided in its design by a team of 16 social […]

OCWEN

Frustrated With OCWEN? So Are Their Attorneys

OCWEN’s Own Attorneys & Homeowners Agree: OCWEN Needs To “STOP THE INSANITY!” Homeowners have been emailing us their Ocwen horror stories. The National Mortgage Settlement was supposed to improve customer service. Instead, just the opposite happened. Mortgage servicers realized it was easier and more profitable to sell the servicing rights of the loans. They skirted […]

HSBC

HSBC Begins Scaling Back Operations In US

HSBC Sells U.S. Consumer, Homeowner Debt for $3.2 Billion Gavin Finch & Howard Mustoe of Bloomberg wrote a great piece about HSBC divesting in the U.S. banking market. They plan on selling the mortgage servicing portfolio and branches in major markets. HSBC Holdings Plc (HSBA), Europe’s biggest bank by assets, agreed to sell a portfolio of U.S. consumer […]

OCWEN Vows To Fight Contributing To Relief Fund

Kerri Ann Panchuk, Housing Wire Federal financial regulators are starting to put the squeeze on massive loan servicer Ocwen ($40.72 0%), reportedly by recommending the servicer contribute to a consumer relief fund that would give cash to foreclosed borrowers. But the servicer, which says a refusal to do so could result in a $135 million penalty, doesn’t believe […]

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