Mortgage Fraud: Wrestling With the Octopus … and Winning!
Mortgage fraud definitely has not disappeared since a foreclosure crisis helped bring the American economy to its knees. In fact, fraud is occurring more often and in a wider variety of forms. Industry...
View ArticleFTC Fines Mortgage Firm a Record $7.5 Million for Do-Not-Call Violations
Mortgage Investors Corporation will pay a $7.5 million civil penalty, the largest fine the Federal Trade Commission (FTC) has ever collected for allegedly violating Do-Not-Call provisions of the...
View ArticleFTC Files Suit Against Seven Firms in Foreclosure Rescue Scheme
The Federal Trade Commission (FTC) filed suit in federal court to halt a mortgage relief scheme that allegedly deceived and preyed on distressed homeowners by charging them $2,000 to $4,000 based on...
View ArticleCompliance and Marketing 2013: Safely Growing Your Business
If you have ever done a significant amount of marketing, you’ve probably ran into or heard of others running into problems with compliance (hoops to jump through to keep your marketing compliant). The...
View ArticleWho Has Access to Your Borrowers’ Data?
The Consumer Financial Protection Bureau (CFPB) now has rule-writing authority and enforcement authority over financial institutions, and this includes interpreting how various federal data privacy and...
View ArticleCompliance and Marketing 2013: Safely Growing Your Business and the Safest...
If you have ever done a significant amount of marketing, you have probably ran into or heard of others running into problems with compliance (hoops to jump through to keep your marketing compliant)....
View ArticleLPS Receives FTC Approval to Close Fidelity National Transaction
Lender Processing Services Inc. (LPS) has announced that the company will have received Federal Trade Commission (FTC) approval of its previously announced acquisition by Fidelity National Financial...
View ArticleCredit Repair and Mortgage Lenders – Beware of Some Claimed “Facts”
For some industry insiders, this is an old story, but for the sake of those new to the mortgage industry, and those who are always hopeful for ways to close more loans, it’s time to address some real...
View ArticleEffective Marketing While Maintaining Compliance
All too often, we find ourselves trying to put together a marketing campaign and wind up at a road block called compliance. The mail pieces need to be compliant, the data needs to be compliant, your...
View ArticleIdentity Theft Prevention Program: Definitions
Question: We are a mortgage lender and have an Identity Theft Prevention Program, but we are still not sure what is considered a “covered account,” or an “account,” or a "Red Flag," or even a...
View ArticleThe Credit Conundrum
American consumers with poor credit face quite a conundrum and most of them don’t even know it. Consumers all share one basic need: Good credit. As well all know, good credit allows consumers to obtain...
View ArticleCFPB and FTC Target Fraudulent Mortgage Relief Operations
The Federal Trade Commission (FTC) has taken action against six mortgage relief operations charging that defendants preyed on distressed homeowners by misrepresenting that they typically could lower...
View ArticleUsing Credit Bureau Data for Your Marketing
What is pre-screened credit data? Pre-screened credit data comes from the major credit bureaus. It is the data that is used for direct marketing, telemarketing, direct mail, past client monitoring for...
View ArticleMortgage Marketing: How You Can Shine
The news is out ... the first four months of 2014 have shown that the demand for home loans has plummeted, mortgage rates are increasing, Freddie Mac and Fannie Mae are being overhauled, and Wells...
View ArticleNew York State AG Sues Two Law Firms for Loan Mod Scam
New York State Attorney General Eric T. Schneiderman has filed a lawsuit in New York County Supreme Court against two law firms and their lead attorney accusing them of participating in a fraudulent...
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