Items Tagged with 'Bankruptcy'

ARTICLES

  • CFPB giving servicers “more latitude” in dealing with borrowers in bankruptcy

    Issues final rule on communication with certain borrowers
    Mortgage servicers are about to have “more latitude” when it comes to dealing with borrowers entering or exiting bankruptcy, the Consumer Financial Protection Bureau announced Thursday. The CFPB announced a final rule relating to certain borrowers facing bankruptcy. The rule was initially released by the CFPB back in October, but now the bureau is finalizing the rule.
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  • Walter Investment reveals new date for bankruptcy exit, name change

    Currently expected to happen later this week
    One week ago, Walter Investment Management Corp. disclosed that it would not be exiting bankruptcy on Jan. 31, 2018 as the company originally expected when its bankruptcy plan was approved by a federal court. Now, the company is providing more detail on when it now plans to exit bankruptcy.
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  • Walter Investment bankruptcy plan approved by court

    Company expects to exit bankruptcy proceedings by end of January
    Walter Investment Management Corp.’s plan to reduce $800 million in debt by filing for Chapter 11 bankruptcy has been approved by a federal court, the company announced this week. The company also announced that its board of directors will look much different when it exits bankruptcy.
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  • Walter Investment files for Chapter 11 bankruptcy

    Nonbank says prepackaged restructuring plan will reduce debt by $800 million
    Walter Investment Management Corp., which has suffered through several rough years, is taking a drastic measure as it fights to survive. The nonbank announced late this week that it is filing for Chapter 11 bankruptcy as part of a prepackaged restructuring plan that aims to eliminate $800 million in debt and place the company on firmer footing going forward.
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  • Disappearing bankruptcies could start new wave of homebuying

    Credit scores hit record high
    Years after the housing crisis’ peak in bankruptcies, Americans are finally starting to see the filings drop off their credit report. Over the next few years, millions of consumers will see their bankruptcies drop off their report and their credit scores improve, allowing them to once again consider homeownership.
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  • U.S. Bank fined $15 million for bankruptcy filing violations

    OCC announces fine for violations between 2009 and 2014
    The Office of the Comptroller of the Currency announced Tuesday that it is ordering U.S. Bank National Association to pay a civil penalty of $15 million for what it calls “bankruptcy filing violations” that occurred between 2009 and 2014. Here are the details.
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  • Reality star Joe Giudice heads to federal prison

    Faces deportation to Italy
    It's tough being in the spotlight, especially if you're headed to prison. Joe Giudice arrived at Fort Dix Federal Correctional Institution in New Jersey to begin his 41-month sentence for bankruptcy fraud. However, the convicted criminal's troubles are just beginning.
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