Responding to a growing clamor from consumer advocates and community groups, lawmakers on Capitol Hill are looking at potential federal solutions to rapidly rising subprime mortgage foreclosures – an approach that some industry attorneys say could lead to trouble...
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A comprehensive approach to defense strategy and good relationships with regulators are key to negotiating a favorable outcome to a fair lending inquiry, according to a panel of compliance specialists at a recent Fair Lending Summit hosted by the National Real Estate...
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The mortgage banking industry has rejected a call from civil rights and consumer advocacy groups for a six-month freeze on mortgage foreclosures. The Mortgage Bankers Association said forbearance may be effective in some cases but not as a sustainable long-term...
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Anti-predatory lending legislation set to be introduced by Rep. Barney Frank, D-MA, will address federal preemption and crack down on lender incentives, the congressman said. Frank, the chairman of the House Financial Services Committee, sent a letter to his...
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Mortgage lenders and brokers in Illinois may soon face a tough law designed to curb foreclosures and abusive lending practices. State Attorney General Lisa Madigan is working with state lawmakers to pass legislation during the current session. The bill’s regulatory...
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The collapse of the subprime mortgage market has caused drastic industry-wide layoffs, which could trigger an onslaught of employee lawsuits, warned a mortgage employment expert. “Employers looking to avoid penalties and class-action lawsuits have several key areas to...
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A New York attorney specializing in securities investment fraud has filed a lawsuit that aims to use the securities industry’s suitability standard as the basis for a mortgage fraud claim. Jacob Zamansky, a principal with the Manhattan law firm...
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Connecticut: State investigators looking into allegations that the former chief executive of Mortgage Lenders Network failed... Massachusetts. Mortgage servicers should be extra careful when posting and communicating payment histories on...
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Department of Housing and Urban Development: Housing Rights Ad. HUD has used theater screens around the nation to raise public awareness about fair housing rights. Fair housing ads ran in approximately...
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The credit counseling industry is hosting a Federal Legislative Summit to discuss... Credit-Aid, also known as the “Credit Doctor,” has new “credit repair”... Working-class and minority neighborhoods in the largest... The Consumer Bankers Association will host a...
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