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Loan Modification
: Mortgage Lender Implode-o-MeterGov't to rate how lenders treat borrowers
By Implode-Explode Heavy Industries
"The Treasury Department is planning to rate mortgage companies on how they treat customers as part of the Obama administration's $75 billion foreclosure relief effort.
The new report will include measurements of how each company is handling borrowers and is expected by July, Treasury Secretary Timothy Geithner told Senate lawmakers on Thursday."
Full post as published by Mortgage Lender Implode-o-Meter on May 03, 2010 (boomark / email).
Truth In Lending Act
Consumer Loans and Consumer Credit Protection Act
Lenders Fined
Ryland Group Inc. settles $370,000 questionable lending suit.
Countrywide Financial Corp.
allegedly charged borrowers improper foreclosure fees.
Wesley A. Snyder et al.
alleging the consultants perpetrated a Ponzi scheme by encouraging borrowers to lend more than they needed.
Loan Backers
Mortgage Lenders Network pays $855,000 bankruptcy settlement for unfunded mortgages.
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Nail Guns
Injury Rate More Than Doubles in Three Years
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