FTC reaches $1.7 million settlement with mortgage relief scam defendant

On February 23, 2017, the Federal Trade Commission (FTC) issued a press release announcing that it had entered into a stipulated order with a defendant in an alleged mortgage relief scam.

The defendant, Gabriel Stewart was the last of six defendants to resolve charges brought by the FTC in July 2014. The FTC alleged that the defendants were involved in a mortgage relief scam that “preyed upon distressed homeowners,” including elderly consumers.

Ocwen to pay $225 million for mortgage servicing violations

Ocwen mortgage settlementMortgage servicer Ocwen will pay $225 million in refunds and loan forgiveness to California consumers after entering into a consent order with the California Department of Business Oversight (California DBO) last week.

According to the California DBO’s February 17, 2017 press release, an independent investigation of Ocwen’s mortgage servicing practices revealed hundreds of violations of state and federal law that occurred between January 2012 and June 2015.

HMDA webinar available on CFPB website

CFPB HMDA webinarOn February 8, 2017, the CFPB announced that it is making available on its website a webinar on the 2015 Home Mortgage Disclosure Act (HMDA) final rule. The CFPB HMDA webinar discusses identifiers and other data points, including those related to applicants and borrowers. Last August, CFPB staff conducted a webinar providing an overview of the HMDA final rule.