Nearly every firm tracked in the Inside Mortgage Finance Large Servicer Delinquency Index reported improvements in mortgage performance during the first quarter...
In another display of multijurisdictional cooperation, the CFPB and the Maryland Attorney General last week brought an enforcement action against a Maryland-based title company and its executives, alleging they participated in a mortgage kickback scheme, trading cash and marketing services in exchange for referrals. The complaint names Genuine Title, LLC, as well as Jay Zukerberg, Brandon Glickstein, Gary Klopp, Adam Mandelberg, William Peterson, and Angela Pobletts, along with a number of limited-liability companies controlled by certain defendants. The CFPB and Maryland allege that Zukerberg and Glickstein developed and operated schemes to give loan officers marketing services and cash payments in exchange for referrals of title work. The kickback schemes violated the Real Estate Settlement Procedures Act, which prohibits giving a ...
Borrower complaints about their student loans continued their apparently inexorable downward momentum, both quarter over quarter and year over year, according to a new analysis by Inside the CFPB of the latest complaint data from the CFPB. Industry wise, consumer gripes fell 11.3 percent QoQ and an even larger 15.7 percent YoY, the data show. Navient, the Sallie Mae spinoff, continues to dominate because of the sheer size of its footprint in the marketplace. Nonetheless, it showed impressive drops of 24.3 percent and 33.0 percent, respectively, for both time periods. Repayment problems continue to represent the lion’s share of the issues about which student-debt borrowers have issues. However, after peaking in the second quarter of 2012, and experiencing another big ...