New Consumer Financial Protection Bureau Mortgage Regulations
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Here is a summary published by the California Reinvestment Coalition. Click Here
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New Report: 1 in 10 Consumers Have Incorrect Credit Score
By Sean Coffey, Program Manager, Foreclosure Help The Federal Trade Commission released a report today (focused on credit report errors at the three large credit reporting agencies (Experian, Equifax, and Transunion) and found significant mistakes, with one in ten consumers … Continue reading
How Can the Consumer Financial Projection Bureau Assist You With Credit Reporting Issues? Our Blog Explains How.
By JoAnn Parrott, Housing Counselor at Project Sentinel, one of the members of ForeclosureHelpSCC. WHAT IS THE CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)? In July 2010, Congress passed and President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Part … Continue reading
1 in 5 consumers receive a different credit score than their lender
By Sean Coffey, MPA, Program Manager of ForeclosureHelpSCC A recently released report by the Consumer Financial Protection Bureau raises some serious concerns about credit scores and the credit bureaus that create the scores. Credit scores are important because they are … Continue reading
ARE LENDERS AND SERVICERS USING JUDICIAL FORECLOSURE TO AVOID THE HOMEOWNER BILL OF RIGHTS?
According to a recent article in the Housing Wire, the answer is “yes”! Traditionally, non-judicial foreclosure has been the approach preferred by California lenders and servicers. This approach eliminates court oversight of the process, and restricts the rights of homeowners … Continue reading
Homeowners Say Customer Service is Still a Problem when They Contact Their Bank or Servicer
Lost documents, robo-signing, getting different messages from different bank departments, broken verbal promises for modifications, loan servicing being transferred, and unexplained modification denials- are these all things of the past with settlements like the Independent Foreclosure Review, Attorney General Settlement, … Continue reading
Do Student Loans Contribute to Foreclosure Crisis? What We’ve Seen from Homeowners in San Jose and Sunnyvale, CA
USA Today reported yesterday (“Nobel winner: Cut student loan rates” ) on one of the proposals that has been put forth by Senator Elizabeth Warren (Bank on Students Loan Fairness Act) to deal with what some have termed the next … Continue reading
Event Focuses on Stabilizing Homeownership after Foreclosures in California
Editor’s note: This is post #2 in a two-part series. (Read Post #1) By Sean Coffey, Program Manager, Foreclosure Help The California Housing Consortium recently sponsored the 1st Annual Homeownership Forum. The theme for the day was “Stabilizing Homeownership and … Continue reading
Event Focuses on Stabilizing Homeownership after Foreclosures in California
Editor’s note: This is post #1 in a two-part series. You can read part 2 here. By Sean Coffey, Program Manager, Foreclosure Help The California Housing Consortium recently sponsored the 1st Annual Homeownership Forum. The theme for the day was … Continue reading
March Madness: 9 Important Updates on the Independent Foreclosure Review, Short Sales, Modifications, and Foreclosures
By Sean Coffey, MPA, Program Manager at Foreclosure Help 1) Foreclosure Reviews Update: Updated information about the Independent Foreclosure Review was released on February 28th (see our previous post: “Independent Foreclosure Review: Update on $3.6 Billion in Cash Payments and … Continue reading
The Customer Bullhorn 