The Consumer Financial Protection Bureau (CFPB) has charged Prospect Mortgage LLC with paying illegal kickbacks for mortgage business referrals and ordered it to pay a $3.5 million civil penalty
Another bill has been introduced into the U.S. Senate that challenges the current state of the Consumer Financial Protection Bureau (CFPB).   Sen. Mike Rounds (R-SD), a member of the Senate Banking Committee, introduced legislation to eliminate the CFPB’s funding stream from the Federal Reserve.... Keep Reading....
The Mortgagee Review Board (MRB) for the U.S. Department of Housing & Urban Development (HUD) has announced that it is immediately and permanently withdrawing approval for AmericaHomeKey Inc. (AHK) to originate and underwrite new mortgages insured by the Federal Housing Administration (FHA).... more
Are you excited about the potential behind HARP 2.0? I know I am! It finally gives many of our fellow Americans the chance to refinance their underwater loans and take advantage of currently low rates. Ever since the news was released last year, I have been looking forward to 2012. Fannie Mae and... more
At the request of the Federal Trade Commission (FTC), a U.S. district court has halted an operation that took in more than $1 million by allegedly selling homeowners bogus mortgage relief and foreclosure rescue products, including a scam that falsely promised to get help for homeowners who joined... more
Christopher Proe of Michigan was sentenced in federal court for his role in obtaining tax refunds after falsely claiming the First-Time Homebuyer Tax Credit. U.S. District Judge F. Dennis Saylor IV sentenced Proe to 92 months in federal prison to be followed by three years of supervised release.... more