The VA doesn’t send you mortgage ads

We’re announcing an enforcement action against a lender that wrongfully used the logos of the Department of Veterans Affairs (VA) and the Federal Housing Administration (FHA). RMK Financial Corporation (also doing business as Majestic Home Loans) sent out ads to veterans and other VA-eligible borrowers that misled consumers to think that RMK’s products were endorsed [...]

By |2017-05-20T11:45:08-05:00April 25th, 2015|News|Comments Off on The VA doesn’t send you mortgage ads

Mortgage Relief Operation Settles Charges

A mortgage relief operation has settled Federal Trade Commission charges that they illegally charged upfront fees for services they falsely promised would reduce consumers’ mortgage interest rates or monthly payments. Collection & Credit Risk

By |2015-04-04T07:05:19-05:00April 4th, 2015|FDCPA|Comments Off on Mortgage Relief Operation Settles Charges

Painful Mortgage Memories Ebb, But Reform Obstacles Persist

Negative attitudes in Washington toward the mortgage industry are starting to thaw, yet devising Fannie Mae and Freddie Mac's exit from conservatorship or charting the future of housing finance reform still will be tough. News

By |2015-03-29T16:12:55-05:00March 29th, 2015|News|Comments Off on Painful Mortgage Memories Ebb, But Reform Obstacles Persist

CFPB May Reopen Mortgage Rule If Housing Reform Stalls

Consumer Financial Protection Bureau Director Richard Cordray said a review of its "qualified mortgage" rule will allow enough time to consider changes if lawmakers fail to make progress on housing finance before a key deadline. News

By |2017-05-20T11:45:10-05:00March 26th, 2015|News|Comments Off on CFPB May Reopen Mortgage Rule If Housing Reform Stalls

CFPB Proposes Mortgage Relief for Small Institutions

The Consumer Financial Protection Bureau on Thursday proposed a series of regulatory relief measures for small institutions, especially those in rural areas, to help them provide credit while they try to follow the agency's tough mortgage rules. News

By |2015-02-18T16:13:38-06:00February 18th, 2015|News|Comments Off on CFPB Proposes Mortgage Relief for Small Institutions

Consumer advisory: Three steps you should take if you have a reverse mortgage

Reverse mortgages are a type of loan that allows homeowners, 62 and older, to borrow against the accrued equity in their homes. Reverse mortgages can help some older homeowners meet financial needs in retirement. Most reverse mortgages today are federally insured through the Federal Housing Authority’s (FHA) Home Equity Conversion Mortgage (HECM) program. We’ve heard [...]

By |2017-05-20T11:45:12-05:00February 9th, 2015|News|Comments Off on Consumer advisory: Three steps you should take if you have a reverse mortgage

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