All Posts Tagged With: "FTC"
Mortgage foreclosure rescue scams (finally) blocked by feds
New rules from the Federal Trade Commission will make it more difficult and costly for bogus loan modification and foreclosure rescue companies to operate nationwide. Unfortunately, the rules are weaker than the standards now used by several states. Under the Mortgage Assistance Relief Services rule, the FTC says that mortgage foreclosure rescue and loan modification [...]
20Nov2010 | Peter G. Miller | 0 comments | Continued
FTC Seeks Halt To Mortgage & Foreclosure Relief Programs
The federal government is seeking to shut down more than a dozen firms which supply mortgage modification or foreclosure relief services. According to the Federal Trade Commission, the government has sought to ban more than a dozen marketers from selling mortgage relief and foreclosure relief services, in one instance seeking $11.4 million for contempt. The [...]
21Jun2010 | Peter G. Miller | 0 comments | Continued
This Mortgage Lender Is A Fake (Don’t Just Take Our Word For It)
You can’t help but wonder about the good folks at Esteemed Lending Services. They seem so sure, so certain, so familiar…. If you want a mortgage, Esteemed has one for you. Recent bankruptcy? No problem? A foreclosure last month? So what. Less income? They can work with you. And help with short sales? Who could [...]
14Jun2010 | Peter G. Miller | 0 comments | Continued
FTC Does Mortgage Loan Audits
Yesterday I criticized the Federal Trade Commission‘s view of mortgage loan audits. The idea was not to defend fraudulent loan audit practices but to say that the FTC did not provide an alternative for borrowers who face what may be unjustified and overblown mortgage claims. I said the public should use licensed and experienced attornies [...]
8Jun2010 | Peter G. Miller | 0 comments | Continued
Can “Mortgage Loan Audits” Stop Foreclosures?
At first it sounds like a good idea for concerned borrowers: Stop foreclosure by showing that the lender has improperly calculated the amount owed. If the lender did not appropriately credit a payment, improperly charged a fee or used the wrong interest rate then the borrower would have grounds to contest a foreclosure action or [...]
7Jun2010 | Peter G. Miller | 0 comments | Continued
Should You Expect Less Hiring A Real Estate Broker?
There’s little doubt that one of the hottest topics in the world of real estate regulation concerns the matter of minimum service requirements for brokers: Do they protect the public or are they simply a way to hold down competition from low-priced firms and new business models? During the past few years many states have [...]
19Sep2008 | Peter G. Miller | 0 comments | Continued
Raising Loan Standards To Protect The Public
The Federal Reserve wants to give the poor, illiterate, elderly, and gullible a better shot at reasonable home equity financing at reasonable cost, a proposal opposed by the banking community. With the growing outcry against predatory lending and with massive annual profits, you would think that the banking lobby would let this one slide — [...]
11Sep2008 | Peter G. Miller | 0 comments | Continued
What To Do About Predatory Loans
Predatory loans are the new horror of mortgage lending, a subject getting much attention in the media and with good reason. In general terms predatory loans can be seen as financing which the borrower does not understand, cannot repay, or includes terms so onerous even loan sharks would be embarrassed. Such loans harm consumers, generate [...]
6Sep2008 | Peter G. Miller | 0 comments | Continued
© Copyright 