|
02/07/26
|
CFPB v. Sutherland
|
CFPB |
CFPB v. Sutherland
A lawsuit was brought by the Consumer Financial Protection Bureau (CFPB) against the companies, NOVAD Management Consulting, LLC, Sutherland Global Services, Inc., Sutherland Mortgage Services, Inc., and Sutherland Government Solutions, Inc. The CFPB alleged the companies failed to effectively service home equity conversion mortgages, also called reverse mortgages. The CFPB also alleged that the companies sent incorrect letters about repayments and ignored customer requests and questions, which may have resulted in borrowers fearing foreclosure, paying unnecessary costs, and losing out on home sales.
Affected consumers are receiving a refund because of a settlement in this lawsuit.
|
|
02/06/26
|
Daily Decision Recap: Fraud-Induced Debt, Foreclosure Challenges, and More
|
ACA International |
Daily Decision Recap: Fraud-Induced Debt, Foreclosure Challenges, and More
Each week, ACA International’s compliance team covers relevant case summaries for ACA members. Here’s a rundown of recent top FCRA, TCPA, and FDCPA cases we’ve covered.
|
|
02/03/26
|
Servicer accused of ignoring five Notices of Error before foreclosing
|
MPA Mag |
Servicer accused of ignoring five Notices of Error before foreclosing
A federal lawsuit filed last week alleges Shellpoint Mortgage Servicing ignored a borrower's requests for five years while pushing ahead with foreclosure.
The case, filed January 30 in the Northern District of Ohio, paints a troubling picture of what one homeowner describes as a years-long struggle to get the servicer to honor a loan modification agreement. The allegations, which have not yet been tested in court, touch on compliance issues that should give pause to any mortgage professional following Regulation X developments.
The borrower claims he was approved for a permanent loan modification in November 2019. He signed the paperwork, returned it on time, and made every payment as agreed. But according to the lawsuit, Shellpoint never actually implemented the modification and refused to update his account balance.
|
