2014 12 Foreclosure Related Topics 
Account Recovery
FEBRUARY 8, 2024
The Consumer Financial Protection Bureau yesterday announced a settlement in an enforcement action that started nearly a decade ago which will see those involved in a foreclosure relief scam pay $12 million in penalties and restitution to consumers.
Consumer Financial Services Law
OCTOBER 25, 2016
Ocwen Loan Servicing, the court considered whether the mortgage servicer had an obligation to evaluate a loss mitigation application when, at the time the completed application was submitted, a foreclosure sale was scheduled to occur in two days. The foreclosure sale in this matter was originally scheduled to occur January 29, 2014.
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Jimerson Firm
JANUARY 16, 2023
8:13-CV-00567-T-27AEP, 2014 WL 55016, at *2 (M.D. 7, 2014) (holding plaintiff was not entitled to actual damages for mental anguish because she failed to supply any competent evidence, such as medical records or expert testimony, that would support her claim). 3:13-CV-163-J-39PDB, 2014 WL 2987702, at *2 (M.D. July 2, 2014).
Collection Industry News
DECEMBER 28, 2020
The clear priority is helping consumers avoid foreclosure, a risk we know will continue throughout 2021. The lengthy consent decree covers loss mitigation conduct from 2014 through 2018, years in the past. Some borrowers suffered improper foreclosure activity as a result. 12 C.F.R. §§ 1024.41(b)(2)(i)(B), b)(2)(i)(B).
Collection Industry News
JULY 12, 2022
After defaulting on their home loan, a foreclosure suit was instituted. While the foreclosure was pending, Servicer took over the servicing of the loan. Debtors sued Servicer during the foreclosure after a disagreement arose, which resulted in a settlement of both lawsuits wherein the parties agreed that Debtors owed $85,790.99
ABI
JANUARY 20, 2020
4] The court approved Parkland’s modification to its Plan of Reorganization stating that if Bridgeview successfully bid on the Artesian Property in a foreclosure sale, Bridgeview would finance Parkland’s purchase of it from the creditor. [5] 6] The foreclosure sale took place and Bridgeview’s nominee purchased the property. [7].
Consumer Financial Services Law
FEBRUARY 7, 2017
Under Reg X, loss mitigation option means “ an alternative to foreclosure offered by the owner or assignee of a mortgage loan that is made available through the servicer to the borrower.” 12 CFR 1024.31. The Wrong Way. The CitiFinancial Consent Order alleges that requests for deferments were not treated as requests for loss mitigation.
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