Ocwen: Mortgage bond investors mislead public, push foreclosures

Ocwen: Mortgage bond investors mislead public, push foreclosures

Fires back at “baseless, groundless” charges of mortgage payment negligence

California settlement puts Ocwen on a leash

Prohibited from acquiring California MSRs without state’s approval

Monday Morning Cup of Coffee: Ocwen settles "frustrating skirmish" with California

But that's just over file access, not file content
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Lending / The Ticker

Fifth Third Mortgage pays $1.5M to settle discrimination claims

Accused of violating Fair Housing Act, Equal Credit Opportunity Act

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The Department of Justice reached a settlement with Fifth Third Mortgage Company (FITB) to resolve allegations that it engaged in a pattern or practice of discrimination on the basis of disability and receipt of public assistance in violation of the Fair Housing Act and the Equal Credit Opportunity Act.

Under the agreement, the mortgage firm agreed to maintain revised policies, conduct employee training and pay over $1.5 million to compensate victims.

In addition, a second defendant in the case, mortgage broker Cranbrook Mortgage Corporation, has revised its underwriting practices, will train its loan officers and will pay $2,000 to compensate the loan applicants who filed the Department of Housing and Urban Development complaint.  

“Today’s announcement holds lending institutions accountable for their actions, and is a reminder that every American has the right to apply for a home loan and live in the community of their choice,” said HUD Assistant Secretary for Fair Housing and Equal Opportunity Gustavo Velazquez.

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