Posts tagged as:

investigation

US FTC: ‘Actively Assessing’ Mortgage Firms For Violations

by Moe Bedard

WASHINGTON -(Dow Jones)- The Federal Trade Commission is actively examining whether mortgage lenders and servicers have violated federal laws in their dealings with borrowers, according to a letter sent to a U.S. Senate lawmaker.”We are actively assessing whether lenders and servicers are making deceptive claims in violation of Section 5 of the FTC Act,” FTC [...]

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California Attorney General Jerry Brown Subpoenas Countrywide

by Moe Bedard

California AG Jerry Brown is very interested in investigating loans made to borrowers with yield spread premiums (YSP).
Some people characterize these “hidden” fees as broker “kick-backs” that are essentially built into your mortgage by bumping up the interest rate, and the lender pays the originator of that loan extra money for doing so.

Brokers have [...]

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