Wells Fargo Must Pay $4 Million For Credit Card Violations More Than 1,300 New Yorkers Expected to Receive Restitution Payments Averaging Approximately $1,600 Governor Andrew M. Cuomo today announced that Wells Fargo Bank will pay a $2 million penalty and provide approximately $2 million in direct consumer restitution payments for violations uncovered by a […]
OCWEN Fight With California Could Be More Damaging Than NYDFS Fight As OCWEN executives and shareholders begin to breathe a sigh of relief now that they have settled with the state of New York and showed CEO William Erbey the door, the lender could be facing more serious trouble on the horizon. The state of […]
As NY Foreclosures Rise More Homeowners Are Using Lawyers To Fight For Their Home Filings for NY foreclosures have steadily increased since 2011. This is according to the New York State Office of Court Administration. The data also shows the number of homeowners represented by legal counsel has also spiked. Roughly 44,469 NY foreclosure filings […]
NYDFS Forces OCWEN To Show CEO Erbey Shown The Door James Sterngold and Alan Zibel at the Wall Street Journal report that the New York Department of Financial Services and Ocwen Financial have reached a settlement in the NYDFS’s claims of servicing fraud against New York homeowners. As part of the deal, Ocwen also will […]
In case you missed it last week, the Federal Reserve’s Federal Open Market Committee has ended bond purchases, finishing its third round of quantitative easing and this could adversely affect the “recovering” housing market next year. With less money being pumped into the system, the less likely banks and lenders will be to offer loan […]
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