One of the two debt relief companies targeted by the FTC offered credit card debt reduction services, and the other offered auto loan modifications. The settlement bans the companies and their.
Four alleged mortgage modification scammers are banned from selling debt relief products and services under settlements resolving Federal Trade Commission charges that they deceived homeowners facing foreclosure. The settlements stem from a complaint the FTC filed earlier this year against Brian.
Bank of America raises affordable housing commitment Fitch Downgrades National City, Wamu, Others on Home Equity Concerns Another major rating firm downgraded National City Corp.’s debt ratings friday evening. fitch ratings downgraded national city — both the corporation and the bank — because of concern about what.Bank of America’s Community Homeownership Commitment, which can be used individually or in combination, include: A new down payment grant program – launching in the second quarter of 2019, this program will help customers overcome the biggest barriers to homeownership.
Loan Modification mortgage refinance borrowing september 2, 2016 The U.S. Securities and exchange commission oversees cases involving mortgages, but the Federal Trade Commission (FTC) has recently stepped in to ban several companies from operating in the mortgage industry after finding them guilty of making false claims to homeowners.
The FTC filed charges against the companies – Kore Services LLC, doing business as Auto Debt Consulting, and NAFSO VLM, Inc., doing business as Vehicle Loan Mod – and their principals last year. The FTC alleged that the defendants promised to reduce consumers’ monthly auto loan payments by 25 to 40 percent, for fees ranging from $350 to $799.
FHA clarifies certification requirements to streamline HECM lending The Federal Housing Administration’s changes to its Project Capital Needs Assessment requirements are putting multifamily. “This makes it harder to do an FHA loan,” says David Stevens, president.
FTC Issues Final Rule to Protect Struggling Homeowners from Mortgage Relief Scams : Homeowners will be protected by a new federal trade commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable.
Federal report slams Ohio for major delays in helping homeowners in foreclosure . This is a cleveland.com article.. WASHINGTON, D.C. – As thousands of Ohio homeowners faced foreclosure during the last decade’s financial crisis, the state came through, delivering millions in bailout dollars sent from Washington.
5% mortgage rates no longer on the horizon Mortgage points are a fee you can pay at the start of the mortgage to lower your interest rate for the duration of your fixed-rate mortgage. Each point costs 1% of your total loan amount. The interest rate reduction depends on the lender, but it is common to lower your interest rate by 0.25% in exchange for every point purchased.
The Mortgage Assistance Relief Services (MARS) rule was created to protect consumers from these types of scams. Check out the compliance guidelines of the MARS rule before searching for any mortgage relief services.. The guidelines, written from the business compliance perspective, can help you easily spot when a scammer is doing something blatantly illegal – such as advising you not to.
The U.S. Securities and Exchange Commission oversees cases involving mortgages, but the Federal Trade Commission (FTC) has recently stepped in to ban several companies from operating in the mortgage industry after finding them guilty of making false claims to homeowners.