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In November 2014, an Administrative law judge decided that PHH had paid illegal kickbacks in violation of the Real Estate Settlement Procedures Act by referring consumers to mortgage insurers who would pay a reinsurance premium to a PHH subsidiary, fining the company $6.5 million. [5] PHH appealed to Consumer Financial Protection Bureau ...
A Georgia homeowner was awarded $21 million in a lawsuit against one of the largest mortgage servicers in the nation. The homeowner, David Brash, a U.S. Army sergeant, claimed that PHH incorrectly ...
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The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector.CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the ...
What: Shares of mortgage and fleet-management. Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're ...
This is known as a "lock-out agreement" with Mr Pitt ready, willing and able to proceed to completion of the purchase within a 2-week period on receipt of the draft contract. Mr Pitt submitted the highest of the sealed bids and believed PHH Asset Management Ltd on behalf of the vendor were contractually committed to sell to him.
Score: Little guy, 1; bank, 0. It's a nice change. Two weeks ago, a bankruptcy court in suburban New York did the formerly unthinkable: It waived a homeowner's mortgage debt after the bank trying ...
The Mortgage Electronic Registration Systems, known as MERS, is a privately held company that operates an electronic registry designed to track servicing rights and ownership of mortgage loans in the United States. [20] [21] Since the 2010 crisis, 62 million mortgages are held in the name of MERS, [22] and MERS has initiated thousands of ...