FHFA extends FHLB membership proposed rule comment period On October 6, the FHFA announced that it is extending the comment period for its proposed rule on Federal Home Loan Bank membership by 60 days, or to January 12, 2015.The proposed rule would revise the requirements for financial institutions to apply for and retain membership in one of the 12 Federal Home Loan Banks.
On August 20, 2013, CFPB filed suit against Morgan Drexen and Ledda. (Compl., Doc. 1.) CFPB alleged, inter alia, that Morgan Drexen and Ledda violated the TSR and the Consumer Financial Protection Act ("CFPA") by (1) requesting or receiving up-front fees for debt relief services, and (2) representing to consumers that they would
Half of Americans Oppose Bailout for Troubled Homeowners Permanent HAMP mods fall 26% in August According to the latest figures from Fannie, its serious delinquency rate fell to 4.70 percent in August. Freddie’s dropped to 3.80 percent at the end of September. Movement in the two GSEs’.
Morgan Drexen Case Illustrates Harm to Consumers. Issue Brief. Debt Settlement Companies Evade Ban through the. Attorney. Consumer Law Group , Johnson Law Group, CareOne,4 Persels & Associates, whether on its own or in. The CFPB Takes Action against One of the Largest Abusers. On.
The Consumer Financial Protection Bureau Tuesday filed a lawsuit against a debt relief firm for charging illegal upfront fees and deceiving consumers. The suit is notable because just last month the firm, Morgan Drexen, was a party to a lawsuit filed against the CFPB that challenged the regulator’s authority to request certain information.
David J. Stern launches legal battle against nation’s biggest mortgage servicers The real deal reports that the most infamous foreclosure attorney in the state of Florida, David J. Stern, just unloaded his Miami condo for a pretty penny. The article states: "Former "foreclosure king" David Stern just sold his south beach condo for $14.8 million, marking one of the top condo sales this year. The deal closed on Thursday.".
Mar 20, 2017. Court Finds CFPB Case Against Payment Processor Lacking. May 13, 2015. Tough Weeks for Morgan Drexen in CFPB Debt Relief Litigation.