From: http://www.complaints.com/2006/august/28/_6868.htm
OCWEN Loan Servicing, LLC
PO Box 24737
West Palm Beach, Fl 33416-4737
What:
Home Mortgage Loan
Why:
This is a complaint against OCWEN for there business practice that everyone who has them to be aware of. Ocwen is known for holding a payment until the day after the grace period so the consumer gets charged thier late fee! ($17.85 for mine) They DO NOT tell you at all so they can then start the foreclosure process on your home! I picked it up on a statement that I seen 2 months later and noticed the long delay in cashing our checks. I then sent a check 2 weeks early to see how long they would hold onto this check! Well, it took almost 4 weeks to cash, a day after the grace period again. But, I beat them at thier own game by sending the extra late payment in with the normal payment! I then called them and told them I was aware of thier scam and was looking to take legal action against them!
For the last 2 years they cash my check in under 4 days from the day mailed!
Jim Hill - Long Island, NY
Saturday, January 27, 2007
Thursday, January 18, 2007
Mortgage servicer Ocwen's practices raise ire
From: http://www.msfraud.org/Articles/Ocwen.htm
By Jeff Ostrowski, Palm Beach Post Staff WriterSunday, January 18, 2004Michelle Trott got a nasty surprise when she sold her home in Broward County last year to move to Jupiter.Ocwen Financial Corp., the West Palm Beach company that collected Trott's monthly mortgage payments, demanded that she and her husband pay $600 in late fees for monthly payments the Trotts say weren't late.Ocwen also charged her $200 just to tell her real estate agent how much she owed on her loan, Trott says.What's more, she says, Ocwen dinged her credit score by reporting her mortgage payments as late, forcing her to pay a higher rate on the new loan on her Jupiter home.And Ocwen pushed the couple to buy an expensive homeowners insurance policy, even though the Trotts say they already had coverage."(Ocwen) posted our payments late all the time," Trott said in a recent interview. "It's not fair. It was a very unpleasant experience. I wouldn't recommend anybody going with that company."Ocwen President Ronald Faris disputes Trott's claims. She made "dozens" of late payments, he says, and Ocwen forced her to take on a homeowners policy only because she let her policy lapse.Moreover, he says, Ocwen doesn't charge $200 to issue a payoff amount; the company charges $10 to $30 for that service.Still, Trott isn't alone in her gripes about Ocwen, a mortgage-servicing company that collects monthly payments from thousands of homeowners nationwide, most of them "subprime" borrowers with spotty credit histories.Ocwen faces suits from customers in California and Connecticut who make allegations similar to Trott's.The nonprofit National Consumer Reinvestment Coalition says it has 300 complaints about Ocwen, while the Better Business Bureau of Central Florida last year received 146 consumer complaints about the company, up from 42 in 2002 and nine in 2001.Firm: No financial incentiveAs borrowers' attorneys seek to portray a pattern of unfair practices by Ocwen, company officials say they've done nothing wrong.Investors seem to agree.In spite of the lawsuits, the company's stock (NYSE: OCN) recently shot past $10, up from $2.60 a year ago. Ocwen has no financial reason to gouge customers or to post their mortgage payments late, Faris says. He calls the suits against Ocwen "misdirected and baseless.""We don't make money off of delinquent loans," Faris says. "Our favorite customer is someone who gets their bill and pays it. We make a ton of money on those customers."As a mortgage servicer, Ocwen doesn't lend money to borrowers. Rather, lenders hire the company to service their loans.Attorneys and some industry observers argue that mortgage servicers have a good reason to post payments late: They get to keep late fees."Ocwen has a financial incentive to call a payment late so it can collect a late fee," says Jack Guttentag, a professor emeritus at the University of Pennsylvania's Wharton School of Business who runs the Mortgage Professor Web site. "It does not have an incentive to push the borrower into bankruptcy, unless the borrower has so much equity in the property that it will cover all the expenses of foreclosure, including legal and other fees which can be a source of profit to the servicer."Faris denies Ocwen unfairly posts payments late, and he says the seemingly large numbers of consumer complaints sound worse than they are.Ocwen handles 350,000 home loans, so the several hundred complaints lodged by customers represent a tiny fraction of its clients, Faris says."We're not saying we never make a mistake," Faris says. "Mistakes happen on an individual basis."But, he says, the company tries to fix errors quickly. Its customer service representatives are readily available by phone or by e-mail, Faris says.That's not the experience of Trott or of Ocwen customer Eleanor Blackmer, who has three years left on the mortgage on her home in suburban Lake Worth."We've got a three-year sentence with Ocwen," Blackmer says.Both Trott and Blackmer say phone calls to Ocwen result in being put on hold 20 minutes or more, followed by conversations with Indian employees with difficult-to-decipher accents.Ocwen employs more than 1,200 people in India, where it has offices in Bangalore and Bombay."You try to call them and they don't understand and they don't speak English, because they're all in India," Blackmer says.Faris says Ocwen makes a point of hiring Indian employees whose English can be easily understood by Americans. "It's difficult for me to address the accent issue because I can't comment on someone else's experience," Faris says. "I've talked to many, many of our agents in India on the phone and I've never had a problem understanding them."Faris says that Ocwen's customer service is better than it's ever been. As a federally chartered thrift, the company's collection practices are closely monitored by the U.S. Office of Thrift Supervision, he says.The gripes about Ocwen are on the rise, Faris says, because the media have been covering the mortgage industry more closely -- CBS News last year aired a story about complaints against Ocwen -- and because plaintiffs' attorneys are looking for the next payday after Fairbanks Capital.That mortgage servicer last year agreed to pay $40 million to settle allegations it engaged in deceptive practices that victimized as many as 250,000 homeowners."I don't think there's increased complaints," Faris says. "There's increasing attention by the media and by the plaintiffs' lawyers. They saw what happened at Fairbanks Capital and are hoping they can find a situation similar to that."Analysts approveThe barrage of complaints against Ocwen comes as the company pulls off a financial turnaround.Its shares got a boost this month when an analyst at JMP Securities in San Francisco rated Ocwen a "strong buy" with a target price of $18 a share.After posting big losses in 2001 and 2002, Ocwen turned a profit in 2003, in part because it has cut costs by hiring customer service employees and software programmers in India, where wages are cheaper than in the United States.And the company last year won a contract to handle the foreclosed properties of the U.S. Department of Veterans Affairs, a deal that could bring in revenue of $95 million to $125 million over the next five years.Still, the lawsuits pose enough of a threat to Ocwen that Fitch Ratings, a corporate credit rating agency, warned last month it might lower its "servicer rating" on Ocwen."We're concerned," said Kathleen Tillwitz, senior director at Fitch Ratings. "Is it a pattern of mistakes that were malicious? Or is it just the one-off mistakes that happen in the daily course of servicing?"Fitch has yet to lower its ratings on Ocwen, however. In a statement last month, it lauded the company for "successful practices and procedures," "expertise" and "well-trained staff."Meanwhile, consumers' gripes keep coming and Ocwen keeps explaining.Jackson, Mich., homeowner RaeAnn Walker says Ocwen has unfairly posted her payments late and charged her legal fees.And one suit accuses Ocwen of unfairly charging borrowers $95 in legal fees for collection letters.Faris calls the charge a legitimate cost of doing business.
By Jeff Ostrowski, Palm Beach Post Staff WriterSunday, January 18, 2004Michelle Trott got a nasty surprise when she sold her home in Broward County last year to move to Jupiter.Ocwen Financial Corp., the West Palm Beach company that collected Trott's monthly mortgage payments, demanded that she and her husband pay $600 in late fees for monthly payments the Trotts say weren't late.Ocwen also charged her $200 just to tell her real estate agent how much she owed on her loan, Trott says.What's more, she says, Ocwen dinged her credit score by reporting her mortgage payments as late, forcing her to pay a higher rate on the new loan on her Jupiter home.And Ocwen pushed the couple to buy an expensive homeowners insurance policy, even though the Trotts say they already had coverage."(Ocwen) posted our payments late all the time," Trott said in a recent interview. "It's not fair. It was a very unpleasant experience. I wouldn't recommend anybody going with that company."Ocwen President Ronald Faris disputes Trott's claims. She made "dozens" of late payments, he says, and Ocwen forced her to take on a homeowners policy only because she let her policy lapse.Moreover, he says, Ocwen doesn't charge $200 to issue a payoff amount; the company charges $10 to $30 for that service.Still, Trott isn't alone in her gripes about Ocwen, a mortgage-servicing company that collects monthly payments from thousands of homeowners nationwide, most of them "subprime" borrowers with spotty credit histories.Ocwen faces suits from customers in California and Connecticut who make allegations similar to Trott's.The nonprofit National Consumer Reinvestment Coalition says it has 300 complaints about Ocwen, while the Better Business Bureau of Central Florida last year received 146 consumer complaints about the company, up from 42 in 2002 and nine in 2001.Firm: No financial incentiveAs borrowers' attorneys seek to portray a pattern of unfair practices by Ocwen, company officials say they've done nothing wrong.Investors seem to agree.In spite of the lawsuits, the company's stock (NYSE: OCN) recently shot past $10, up from $2.60 a year ago. Ocwen has no financial reason to gouge customers or to post their mortgage payments late, Faris says. He calls the suits against Ocwen "misdirected and baseless.""We don't make money off of delinquent loans," Faris says. "Our favorite customer is someone who gets their bill and pays it. We make a ton of money on those customers."As a mortgage servicer, Ocwen doesn't lend money to borrowers. Rather, lenders hire the company to service their loans.Attorneys and some industry observers argue that mortgage servicers have a good reason to post payments late: They get to keep late fees."Ocwen has a financial incentive to call a payment late so it can collect a late fee," says Jack Guttentag, a professor emeritus at the University of Pennsylvania's Wharton School of Business who runs the Mortgage Professor Web site. "It does not have an incentive to push the borrower into bankruptcy, unless the borrower has so much equity in the property that it will cover all the expenses of foreclosure, including legal and other fees which can be a source of profit to the servicer."Faris denies Ocwen unfairly posts payments late, and he says the seemingly large numbers of consumer complaints sound worse than they are.Ocwen handles 350,000 home loans, so the several hundred complaints lodged by customers represent a tiny fraction of its clients, Faris says."We're not saying we never make a mistake," Faris says. "Mistakes happen on an individual basis."But, he says, the company tries to fix errors quickly. Its customer service representatives are readily available by phone or by e-mail, Faris says.That's not the experience of Trott or of Ocwen customer Eleanor Blackmer, who has three years left on the mortgage on her home in suburban Lake Worth."We've got a three-year sentence with Ocwen," Blackmer says.Both Trott and Blackmer say phone calls to Ocwen result in being put on hold 20 minutes or more, followed by conversations with Indian employees with difficult-to-decipher accents.Ocwen employs more than 1,200 people in India, where it has offices in Bangalore and Bombay."You try to call them and they don't understand and they don't speak English, because they're all in India," Blackmer says.Faris says Ocwen makes a point of hiring Indian employees whose English can be easily understood by Americans. "It's difficult for me to address the accent issue because I can't comment on someone else's experience," Faris says. "I've talked to many, many of our agents in India on the phone and I've never had a problem understanding them."Faris says that Ocwen's customer service is better than it's ever been. As a federally chartered thrift, the company's collection practices are closely monitored by the U.S. Office of Thrift Supervision, he says.The gripes about Ocwen are on the rise, Faris says, because the media have been covering the mortgage industry more closely -- CBS News last year aired a story about complaints against Ocwen -- and because plaintiffs' attorneys are looking for the next payday after Fairbanks Capital.That mortgage servicer last year agreed to pay $40 million to settle allegations it engaged in deceptive practices that victimized as many as 250,000 homeowners."I don't think there's increased complaints," Faris says. "There's increasing attention by the media and by the plaintiffs' lawyers. They saw what happened at Fairbanks Capital and are hoping they can find a situation similar to that."Analysts approveThe barrage of complaints against Ocwen comes as the company pulls off a financial turnaround.Its shares got a boost this month when an analyst at JMP Securities in San Francisco rated Ocwen a "strong buy" with a target price of $18 a share.After posting big losses in 2001 and 2002, Ocwen turned a profit in 2003, in part because it has cut costs by hiring customer service employees and software programmers in India, where wages are cheaper than in the United States.And the company last year won a contract to handle the foreclosed properties of the U.S. Department of Veterans Affairs, a deal that could bring in revenue of $95 million to $125 million over the next five years.Still, the lawsuits pose enough of a threat to Ocwen that Fitch Ratings, a corporate credit rating agency, warned last month it might lower its "servicer rating" on Ocwen."We're concerned," said Kathleen Tillwitz, senior director at Fitch Ratings. "Is it a pattern of mistakes that were malicious? Or is it just the one-off mistakes that happen in the daily course of servicing?"Fitch has yet to lower its ratings on Ocwen, however. In a statement last month, it lauded the company for "successful practices and procedures," "expertise" and "well-trained staff."Meanwhile, consumers' gripes keep coming and Ocwen keeps explaining.Jackson, Mich., homeowner RaeAnn Walker says Ocwen has unfairly posted her payments late and charged her legal fees.And one suit accuses Ocwen of unfairly charging borrowers $95 in legal fees for collection letters.Faris calls the charge a legitimate cost of doing business.
Wednesday, January 10, 2007
Ocwen Bank Overcharging for escrow, and interest
I believe Ocwen bank overcharged me thousands of dollars in junk fees, overcharging for escrow, and interest. They refuse to verify charges and then allegedly you are behind and during the request for account information. they allegedly assigned the loan to LaSalle Bank trustees of a 1998 R-1 pass-through certificate.(what ever that is, some kind of security).LaSalle Bank filed a foreclosure the day they were assigned the note by OCWEN. They waited 3 months before filing with the court clerk they were the new owners. I found out Lasalle was the owner the day I was served the foreclosure.OCWEN filed papers with the court they were the owners of the mortgage in 1997 when HUD sold them my loan. When I called LaSalle Bank they told me they had owned my property with this alleged pass-through certificate since 1998. I have never received anything from LaSalle Bank. This case is still pending due to other issues. I still receive bills from OCWEN even though they allegedly assigned this loan to someone else.I would have thought they would be required to notify me of the transfer. I still do not understand how LaSalle can forclose with ownership in securities related to this property that they bought in 1998 but never filed with the court until after they filed the foreclosure, but still have OCWEN service the loan.I may lose my home. My husband is disabled.All of this smells fishy!
Monday, January 1, 2007
WHAT CORRUPTION ?
From: http://www.geocities.com/jurisnot/
RESPAgate exposed: NY lawyers, lenders, title cos. plead guilty to kickback conspiracy - (Jan 25 2006) New York authorities investigating a convoluted kickback scheme have followed the money to a ‘slush fund’ established by a local law firm to give kickbacks to lenders in exchange for referrals. The conspiracy, which also involved two title companies and three shell settlement services firms, has resulted in a volley of criminal felony and RESPA charges being issued against three attorneys and a former Fleet Mortgage and CTX Mortgage executive. All have pleaded guilty and now face penalties of up to 35 years in prison and millions of dollars in potential fines. 2) (Score: 720) Oklahoma legislature to consider Real Estate Settlement Practices Act' - (Jan 24 2006) Oklahoma legislators have declared an emergency in the way the state governs the real estate settlement process, and have thus introduced a new bill that would enact the “Real Estate Settlement Practices Act.” The bill would adopt “significant reforms” in the settlement process and also incorporate the “gist” of the federal RESPA law into the state law to allow the Insurance Commissioner greater powers of enforcement. 3) (Score: 771) RESPA case round-up: Key court rulings of 2005 - (Jan 18 2006) Courts across the nation ruled on several contentions RESPA cases in 2005, so now we’re bringing you three recent decisions that you might have missed. These cases involve courts from New York to Pennsylvania to Mississippi, involve mortgage brokers, settlement companies and major lenders such as Fairbanks Capital Corp. and Chase Manhattan Mortgage, and include charges ranging from RESPA and TILA to RICO and anti-trust laws. Read on for an in-depth look at how RESPA has been playing out in the federal courts. 4) (Score: 748) ALTA warns HUD that RESPA enforcement Web site may be bad idea - (Jan 18 2006) “We are concerned that the Web site may become a vehicle that leads to HUD investigations where there may be no real basis for such an investigation,” said Charlene Nieman, ALTA Grassroots & PAC manager. 5) (Score: 705) Hawaii regulators investigate Prudential's friendly' Wells Fargo party - (Jan 13 2006) Hawaii state regulators are investigating Prudential Locations LLC for a 2003 party the company threw whose attendees included agents that referred at least $1 million in business to Wells Fargo. Prudential settled RESPA violations stemming from the bash with HUD in September. 6) (Score: 756) Colorado lenders put industry to RESPA test - (Jan 11 2006) The Colorado Mortgage Lenders Association is touting a new RESPA refresher course they have created for mortgage and real estate professionals to test their knowledge of the federal regulations and protect themselves against HUD’s heightened crackdown on RESPA violators. 7) (Score: 753) Exclusive! New RESPA courtroom curveballs cripple Kruse - (Jan 11 2006) You may have thought that after the Second and Third Circuit Courts released their controversial rulings in the two most recent RESPA markup cases, their stories would end there. That is not the case, however, as new information has recently surfaced which throws those decisions into a whole new light. In Kruse v. Wells Fargo, a startling revelation has turned the markup case on its head, and left the plaintiffs’ counsel scrambling for a leg to stand on. You don’t want to miss this exclusive report. 8) (Score: 756) 2006: The year of RESPA reform? - (Jan 4 2006) While the settlement services industry experienced a highly-regulated year in 2005, many of the legislative issues raised last year that didn't come to fruition could make headlines in 2006. Will we finally see reform happen this year? Where is HUD headed with their enforcement efforts? What cases will bear watching and what topics will dominate the conversation? Read on for our preview of the key RESPA issues to keep an eye on as the new year moves into high-gear. 9) (Score: 775) Top RESPA stories that rocked 2005 - (Dec 28 2005) The RESPA world saw a lot of action this year, with HUD settlement announcements, court case updates and reform roundtable reports coming in fast and furious. But what events and alerts made the biggest industry waves? Here, we list the top RESPA stories of 2005, as selected by you, our reader. Wondering what news topped the charts each month? Read on to make sure you don’t miss any of the hottest RESPA news of the year. 10) (Score: 763) RESPA whistleblower finds no recourse after being fired for reporting company to HUD - (Dec 21 2005) What happens when a loan officer reports his own company to HUD for violating RESPA, and his company finds out about it and fires him? In a case recently decided by the Michigan Court of Appeals, the loan officer sued his company for wrongful termination, but the courts ruled that he was not protected from retaliation. Why? Find out what happened in this exclusive true story of RESPA reporting gone wrong. 11) (Score: 724) HUD settles kickback charges with nine Tennessee builders for $226,000 - (Dec 20 2005) HUD claimed the nine, collectively known as "Title Group Builders," received payments from First American (dba Memphis Title) for settlement services that were allegedly never performed. The $226,000 settlement follows HUD’s $680,000 settlement with First American over these charges in July. 12) (Score: 771) Review: RESPA packs powerful regulatory punch in 2005 - (Dec 14 2005) Like King Kong smashing through the streets of New York, RESPA has emerged from the jungle to loom large over the industry this year. With HUD stomping on RESPA violators across the country, courts playing host to numerous class action cases, and reform talks stirring up strong industry sentiments on the statute, it’s clear that RESPA was 2005’s 1000-pound gorilla. Read on as we track the movements of the regulatory beast. 13) (Score: 767) Ohio RESPA case takes startling turn as Tower City Title rebuts sham AfBA claims - (Dec 7 2005) A new twist has cropped up in the Ohio case of Shahan v. Tower City Title, as the plaintiffs appear to have backpedaled on their original claim of a sham AfBA between a mortgage broker and Tower City, after it was pointed out that they were the sellers in the transaction, and thus had no mortgage or mortgage broker. The plaintiffs now seem to be focusing their case on Tower City’s relationship with First American, and making RESPA claims that Tower City says are bogus. 14) (Score: 710) New Web site touts joint marketing feature for mortgage, title, real estate companies - (Dec 7 2005) 123 Main Street claims that their “RESPA-compliant” Web site model will allow mortgage and title companies to list their names on real estate listing sites to gain exposure to customer markets. 15) (Score: 698) Can a mortgage company contribute money or door prizes to a Realtor's customer appreciation party? - (Dec 7 2005) 16) (Score: 755) NAR turns up the heat on RESPA awareness - (Dec 6 2005) The National Association of Realtors has launched a multi-faceted RESPA awareness campaign to give their members guidance on compliance, and is now adding four new tools to their RESPA information arsenal. 17) (Score: 771) RESPA case against ABN AMRO, Countrywide, homebuilder and title cos. heats up - (Nov 30 2005) A new set of plaintiffs has filed a class action suit claiming RESPA and TILA violations in connection with a mortgage broker who allegedly accepted “excessive, undisclosed and fraudulently-concealed” kickbacks disguised as real estate commissions from an Oklahoma homebuilder, two mortgage companies, and two title company subsidiaries of Chicago Title and Old Republic Title. A separate case on the same allegations has been pending in Oklahoma courts for two years, with the provisions of the RESPA rule taking a beating in both. 18) (Score: 720) Can a mortgage company screen and pre-qualify buyers for FSBOs in exchange for leads? - (Nov 29 2005) 19) (Score: 695) Nevada mortgage regulators suggest new AfBA disclosure - (Nov 23 2005) Nevada examiners are reportedly suggesting that a Dual Capacity Disclosure, required when a mortgage originator also acts as a real estate agent in a transaction, must be executed in any loan transaction involving an affiliated business entity under RESPA. 20) (Score: 744) Fountainhead Title settles joint RESPA class actions for $2 million - (Nov 18 2005) Maryland-based Fountainhead Title has settled two class action suits for a total of $2 million, ending a string of RESPA litigation over alleged sham affiliated business arrangements that has been plaguing the company since 2003. The current settlement follows one made in 2004 over two other class actions. Read our complete, in-depth story on the cases here. 1 through 20 of about 595 matches. Page: 1 2 3 4 5 6 7 8 9 10 http://www.respareform.com/cgi-bin/texis/scripts/respareform-search/search.html
RESPAgate exposed: NY lawyers, lenders, title cos. plead guilty to kickback conspiracy - (Jan 25 2006) New York authorities investigating a convoluted kickback scheme have followed the money to a ‘slush fund’ established by a local law firm to give kickbacks to lenders in exchange for referrals. The conspiracy, which also involved two title companies and three shell settlement services firms, has resulted in a volley of criminal felony and RESPA charges being issued against three attorneys and a former Fleet Mortgage and CTX Mortgage executive. All have pleaded guilty and now face penalties of up to 35 years in prison and millions of dollars in potential fines. 2) (Score: 720) Oklahoma legislature to consider Real Estate Settlement Practices Act' - (Jan 24 2006) Oklahoma legislators have declared an emergency in the way the state governs the real estate settlement process, and have thus introduced a new bill that would enact the “Real Estate Settlement Practices Act.” The bill would adopt “significant reforms” in the settlement process and also incorporate the “gist” of the federal RESPA law into the state law to allow the Insurance Commissioner greater powers of enforcement. 3) (Score: 771) RESPA case round-up: Key court rulings of 2005 - (Jan 18 2006) Courts across the nation ruled on several contentions RESPA cases in 2005, so now we’re bringing you three recent decisions that you might have missed. These cases involve courts from New York to Pennsylvania to Mississippi, involve mortgage brokers, settlement companies and major lenders such as Fairbanks Capital Corp. and Chase Manhattan Mortgage, and include charges ranging from RESPA and TILA to RICO and anti-trust laws. Read on for an in-depth look at how RESPA has been playing out in the federal courts. 4) (Score: 748) ALTA warns HUD that RESPA enforcement Web site may be bad idea - (Jan 18 2006) “We are concerned that the Web site may become a vehicle that leads to HUD investigations where there may be no real basis for such an investigation,” said Charlene Nieman, ALTA Grassroots & PAC manager. 5) (Score: 705) Hawaii regulators investigate Prudential's friendly' Wells Fargo party - (Jan 13 2006) Hawaii state regulators are investigating Prudential Locations LLC for a 2003 party the company threw whose attendees included agents that referred at least $1 million in business to Wells Fargo. Prudential settled RESPA violations stemming from the bash with HUD in September. 6) (Score: 756) Colorado lenders put industry to RESPA test - (Jan 11 2006) The Colorado Mortgage Lenders Association is touting a new RESPA refresher course they have created for mortgage and real estate professionals to test their knowledge of the federal regulations and protect themselves against HUD’s heightened crackdown on RESPA violators. 7) (Score: 753) Exclusive! New RESPA courtroom curveballs cripple Kruse - (Jan 11 2006) You may have thought that after the Second and Third Circuit Courts released their controversial rulings in the two most recent RESPA markup cases, their stories would end there. That is not the case, however, as new information has recently surfaced which throws those decisions into a whole new light. In Kruse v. Wells Fargo, a startling revelation has turned the markup case on its head, and left the plaintiffs’ counsel scrambling for a leg to stand on. You don’t want to miss this exclusive report. 8) (Score: 756) 2006: The year of RESPA reform? - (Jan 4 2006) While the settlement services industry experienced a highly-regulated year in 2005, many of the legislative issues raised last year that didn't come to fruition could make headlines in 2006. Will we finally see reform happen this year? Where is HUD headed with their enforcement efforts? What cases will bear watching and what topics will dominate the conversation? Read on for our preview of the key RESPA issues to keep an eye on as the new year moves into high-gear. 9) (Score: 775) Top RESPA stories that rocked 2005 - (Dec 28 2005) The RESPA world saw a lot of action this year, with HUD settlement announcements, court case updates and reform roundtable reports coming in fast and furious. But what events and alerts made the biggest industry waves? Here, we list the top RESPA stories of 2005, as selected by you, our reader. Wondering what news topped the charts each month? Read on to make sure you don’t miss any of the hottest RESPA news of the year. 10) (Score: 763) RESPA whistleblower finds no recourse after being fired for reporting company to HUD - (Dec 21 2005) What happens when a loan officer reports his own company to HUD for violating RESPA, and his company finds out about it and fires him? In a case recently decided by the Michigan Court of Appeals, the loan officer sued his company for wrongful termination, but the courts ruled that he was not protected from retaliation. Why? Find out what happened in this exclusive true story of RESPA reporting gone wrong. 11) (Score: 724) HUD settles kickback charges with nine Tennessee builders for $226,000 - (Dec 20 2005) HUD claimed the nine, collectively known as "Title Group Builders," received payments from First American (dba Memphis Title) for settlement services that were allegedly never performed. The $226,000 settlement follows HUD’s $680,000 settlement with First American over these charges in July. 12) (Score: 771) Review: RESPA packs powerful regulatory punch in 2005 - (Dec 14 2005) Like King Kong smashing through the streets of New York, RESPA has emerged from the jungle to loom large over the industry this year. With HUD stomping on RESPA violators across the country, courts playing host to numerous class action cases, and reform talks stirring up strong industry sentiments on the statute, it’s clear that RESPA was 2005’s 1000-pound gorilla. Read on as we track the movements of the regulatory beast. 13) (Score: 767) Ohio RESPA case takes startling turn as Tower City Title rebuts sham AfBA claims - (Dec 7 2005) A new twist has cropped up in the Ohio case of Shahan v. Tower City Title, as the plaintiffs appear to have backpedaled on their original claim of a sham AfBA between a mortgage broker and Tower City, after it was pointed out that they were the sellers in the transaction, and thus had no mortgage or mortgage broker. The plaintiffs now seem to be focusing their case on Tower City’s relationship with First American, and making RESPA claims that Tower City says are bogus. 14) (Score: 710) New Web site touts joint marketing feature for mortgage, title, real estate companies - (Dec 7 2005) 123 Main Street claims that their “RESPA-compliant” Web site model will allow mortgage and title companies to list their names on real estate listing sites to gain exposure to customer markets. 15) (Score: 698) Can a mortgage company contribute money or door prizes to a Realtor's customer appreciation party? - (Dec 7 2005) 16) (Score: 755) NAR turns up the heat on RESPA awareness - (Dec 6 2005) The National Association of Realtors has launched a multi-faceted RESPA awareness campaign to give their members guidance on compliance, and is now adding four new tools to their RESPA information arsenal. 17) (Score: 771) RESPA case against ABN AMRO, Countrywide, homebuilder and title cos. heats up - (Nov 30 2005) A new set of plaintiffs has filed a class action suit claiming RESPA and TILA violations in connection with a mortgage broker who allegedly accepted “excessive, undisclosed and fraudulently-concealed” kickbacks disguised as real estate commissions from an Oklahoma homebuilder, two mortgage companies, and two title company subsidiaries of Chicago Title and Old Republic Title. A separate case on the same allegations has been pending in Oklahoma courts for two years, with the provisions of the RESPA rule taking a beating in both. 18) (Score: 720) Can a mortgage company screen and pre-qualify buyers for FSBOs in exchange for leads? - (Nov 29 2005) 19) (Score: 695) Nevada mortgage regulators suggest new AfBA disclosure - (Nov 23 2005) Nevada examiners are reportedly suggesting that a Dual Capacity Disclosure, required when a mortgage originator also acts as a real estate agent in a transaction, must be executed in any loan transaction involving an affiliated business entity under RESPA. 20) (Score: 744) Fountainhead Title settles joint RESPA class actions for $2 million - (Nov 18 2005) Maryland-based Fountainhead Title has settled two class action suits for a total of $2 million, ending a string of RESPA litigation over alleged sham affiliated business arrangements that has been plaguing the company since 2003. The current settlement follows one made in 2004 over two other class actions. Read our complete, in-depth story on the cases here. 1 through 20 of about 595 matches. Page: 1 2 3 4 5 6 7 8 9 10 http://www.respareform.com/cgi-bin/texis/scripts/respareform-search/search.html
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