Accused of wrongfully evicting homeowners, Safeguard Properties fights back in court. The firm defends its business practices and accuses the state of Illinois of making firms jump through hoops in keeping vacant properties up-to-date—only to end up on the hook for alleged transgressions during the process.
Illinois Attorney General Lisa Madigan said that her office has filed suit against Safeguard Properties, a national property preservation provider, over what the AG's office characterized as "illegal eviction practices."
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry..
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.” Read More
The answer may be found somewhere between commandeering the entire process and “throwing it over the fence.” For lenders, paying more attention to the source of the data and information used in finalizing settlement (title searching, valuation and the like) could hold the key. This means data reporting collected in a more robust, accurate and verifiable fashion. Read More