Ocwen Mortgage Massachusetts

Ocwen Ordered to Cease Mortgage Operations in Massachusetts

Ocwen, one of the largest mortgage servicers in the country, faces regulatory action from both the state and federal levels for “failing borrowers at every stage of the mortgage servicing process,” including mishandling mortgage accounts and botching loan modifications. The federal Consumer Financial Protection Bureau sued...

foreclosure massachusetts

Foreclosure Valid Despite Failure to Send Required Notice

The Massachusetts Supreme Judicial Court has ruled that a foreclosure is valid even though the bank who foreclosed did not send a mandatory post-foreclosure notice to the city. Previously, the Supreme Judicial Court has held that a violation of any of the foreclosure laws renders a...

Consumer Protection Rights

Consumer Protections at Risk of Being Rolled Back; How to Help

The new administration announced plans to roll back consumer protections via an Executive Order. Although the order is vague, it essentially gives the U.S. Department of the Treasury instructions to restructure and limit the Dodd-Frank Act, the law passed to increase consumer protections after the...

loan modification standards 2017

New Loan Modification Standards to Take Effect Later This Year

Banks and mortgage servicers are expected to use new standards when providing loan modifications to homeowners with delinquent mortgages, according to a proposal from the Mortgage Bankers Association, the main industry group for mortgage banking. Under the program, homeowners’ monthly mortgage payments will be reduced by...