CFPB: Servicing Problems Complicate Income-Driven Repayment Enrollment, Borrowers Say. By Allie Bidwell, communications staff. student loan borrowers hoping to lower their monthly payments by enrolling in income-driven repayment plans are often plagued with servicing problems that complicate the process, such as processing delays and wrongful rejections, the Consumer Financial Protection.
Houses with solar features rise in popularity 6 Big Reasons the Tiny House Movement is on the Rise. Would you buy a tiny house in Texas?. cooling, and lighting a small space is always easier than keeping up with a sprawling layout. Tiny houses with solar panels have an even smaller carbon footprint!. The Tiny House Movement has been.
Servicers Not Doing Enough for Troubled Borrowers, Consumer Group Says Bank of America is taking a major step to help some of its most troubled mortgage borrowers. The bank says it will forgive up to 30 percent of some customers’ loan principal.. a consumer group.
Identify and Remedy Troubled Loans. By Frank Simon. What is a "troubled loan" and how do you know that a loan is "troubled?" A troubled loan, also known as a "sour loan," arises and can be identified through one, or a combination of, the following warning signs:
Servicers Not Doing Enough for Troubled Borrowers, Consumer Group Says.. home loan servicers are not doing enough to keep borrowers in their homes," says Kevin Stein, CRC associate director.
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Consumer Financial Protection Bureau warns student loan servicing problems can jeopardize long-term financial security for older borrowers. Some private student loan borrowers say they did not.
Al Yoon and Elinor Complay write for Reuters: BoA to fight mortgage bond Investors * BofA says no basis for charge it sold bad mortgages * Investors’ notice gives bank 60 days to fix issues A group ..
LPS: Mortgage delinquencies down 10% In contrast to the MBA survey, which showed delinquencies down to 6.96%, the June Mortgage Monitor (pdf) from Lender processing services (lps) showed that new mortgage delinquencies spiked up 18.3% in June, after declining 5 months in row, raising their national mortgage delinquency rate to 6.68% from the mortgage crisis low of 6.08% in May..Studies Show HAMP Promotes Strategic Default on Mortgages Jonathan Spader, a senior research associate at the Joint Center for Housing Studies at Harvard University, said pinning the drop in home ownership among young people on student loans is difficult..
· Challenges facing homeowners today are so manifold that even lenders’ best efforts to stave off foreclosures may never work, according to a major lender and a community group.
Borrowers report servicers steering them into forbearance or other short-term options that, while appropriate for some borrowers, may increase costs and may not be in the consumer’s best interest. Others told of servicers providing conflicting or inaccurate information, preventing them from accessing tools to avert default.