CFPB Issues Final Rule To Help Mortgage Servicers Communicate With Certain Borrowers Facing Bankruptcy

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today issued a final rule to help mortgage servicers communicate with certain borrowers facing bankruptcy. The final rule gives mortgage servicers more latitude in providing periodic statements to consumers entering or exiting bankruptcy, as required by the Bureau’s 2016 mortgage servicing rule. The Truth in Lending Act requires mortgage servicers to provide periodic statements to borrowers, and the Bureau has developed sample forms for servicers to use. The 2016 mortgage servicing … Continued

UNSEALED: DOJ Confirms Holders of Securitized Loans Cannot Be Traced

In a filing unsealed on June 3, 2016, the Department of Justice (DOJ)  confirms what many of us have known for years. Nobody, not even the U.S. Government, with massive resources, can determine who owns your securitized loan and has the right to collect on your mortgage. The information comes from case files unsealed on June 3, 2016 by  federal Judge Yvonne Gonzalez Rogers of the Northern District of California in the case of the United States v. Discovery Sales, Inc. The case … Continued

James R. Ackley: Responding to Disaster, A Contemporary Approach to Foreclosure Defense

By James ‘Randy’ Ackley The consequences of a family losing their home, it goes without saying, are horrendous. Helping people who have lost their homes is one of the most rewarding, yet heartbreaking, vocations a person can experience. I have been privileged to have had the opportunity to help families left homeless by both natural and human caused disasters around the world. From Hurricanes, like Andrew and Katrina and tornados and floods, to armed conflict in Kosovo, economic collapse in … Continued