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DannLaw: CFPB/Wells settlement is welcome, but big bank will continue to abuse homeowners

CFPB

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While the $3.7 billion settlement between Wells Fargo and the Consumer Financial Protection Bureau is welcome news, it doesn't resolve all the issues surrounding the bank's bad behavior--a point made by CFPB Director Rohit Chopra who noted that Wells' rinse-repeat cycle of violating the law has harmed millions of American families." He also said the company is a serial offender that puts one third of American households at risk of harm and that finding permanent resolution to this bank’s pattern … [Read more...] about DannLaw: CFPB/Wells settlement is welcome, but big bank will continue to abuse homeowners

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The End of Covid Forbearance is here. Time to rework your loan.  Mortgage forbearance and other programs made available to homeowners during the COVID-19 pandemic are about to end. That means millions of homeowners are or will soon be pursuing loan modifications or other work out options with their lenders. Karen Ortiz, Roberto Rivera, and DannLaw’s highly experienced and knowledgeable legal staff are here to help families navigate the complicated process and select the payment structure that … [Read more...] about DannLaw Covid 19 Update 16–and hopefully our last

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In 2010 Kim Naimoli of Geneva, New York who was struggling to make her mortgage payments in the wake of the 2007-2008 collapse of the housing market, applied for a loan modification under the provisions of the federal Home Affordable Modification Program (HAMP). Over the next six years Ms. Naimoli did everything right: she completed and returned forms, complied with document requests, made her house payments on time, and, in accordance with the law, filed a “Notice of Error” (NOE) when Ocwen the … [Read more...] about Second Circuit Court of Appeals ruling in Ocwen/PHH case is major victory for homeowners, landmark decision will expand, strengthen RESPA, Regulation X protections

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As the new year begins nearly all the mortgage support programs implemented in response to the Covid 19 pandemic are coming to an end. That means millions of homeowners who have taken advantage of mortgage forbearance must begin making their house payments again. Many are finding it difficult to secure permanent loan modifications or repayment plans, some are about to lose their homes because the foreclosure moratoriums imposed by the Consumer Finance Protection Bureau (CFPB) have been lifted, … [Read more...] about End of mortgage support programs brings day of reckoning for homeowners in forbearance/foreclosure, DannLaw is here to help

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As America struggles to shake the curse of COVID-19, millions of homeowners impacted by the pandemic continue to face numerous challenges, including determining what to do when mortgage forbearance ends. In this update, we’ll outline the available options and offer sound advice on how--and how not--to proceed. Before we discuss the options available to homeowners already in forbearance, we want to share some breaking news as well as a reminder. The US Department of Housing and Urban Development … [Read more...] about DannLaw COVID-19 Update 15

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It seems like just weeks ago we saw bright light at the end of the COVID-19 tunnel. Turns out that thanks to people who refuse to be vaccinated and the resultant spread of the highly contagious Delta variant of the Coronavirus that light may once again be an oncoming train that puts both lives and the nation’s economic recovery at risk. To eliminate that risk, we encourage everyone who has not already been vaccinated to roll up their sleeves and get their shot ASAP. Unfortunately, the … [Read more...] about COVID-19 Update, August 2021

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If you are a former Home Savings or First Federal customer who now banks with Premier, contact us TODAY so we can protect your family’s financial future and fight for the monetary compensation you need and deserve. The slogan “Better Together” used by officials of Home Savings Bank and First Federal Bank to characterize the merger that created Premier Bank in April 2020 will ring hollow if the new bank has violated the federal laws and rules that govern mortgage lending and servicing by … [Read more...] about Emergency Alert: DannLaw launches probe of Premier Bank mortgage servicing practices

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On Tuesday, April 27, the Consumer Financial Protection Bureau announced that Mr. Cooper/Nationstar has been withdrawing multiple mortgage payments from the bank accounts of hundreds of thousands of consumers without authorization. If your mortgage is serviced by these companies and your payments are automatically withdrawn from your bank account, you MUST do two things NOW: Contact your bank to determine if your account has been debited for multiple payments. If you are a … [Read more...] about SPECIAL FRAUD ALERT FOR MR. COOPER/NATIONSTAR CUSTOMErs

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Hello, happy holidays, and welcome to DannLaw COVID-19 update 12. In this edition, I’ll unwrap the details of the long-overdue stimulus package that was just passed by Congress and signed by the President. While the 5,600-page bill doesn’t contain anything that would set 12 lords to leaping or qualify as tidings of great joy, it does provide some much-needed financial relief and protection for consumers, workers, and homeowners impacted by the ongoing pandemic. Direct Payments Like the … [Read more...] about DannLaw COVID-19 Update 12–Finally, a New Stimulus Package

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The U.S. Supreme Court’s decision in Seila Law v. Consumer Financial Protection Bureau marked the culmination of a years-long attack against the agency by the business community, Congressional Republicans, and the Trump administration. It also provided a major dose of “be careful what you wish for because you just might get it” for the powerful forces who have been trying to destroy the CFPB since it was created in the wake of the collapse of the nation’s housing market in … [Read more...] about Supreme Court ruling that CFPB may continue to operate is win for consumers, major blow to lenders, scam artists