When you take out a mortgage loan to buy a home, you trust the mortgage servicing industry to work. Mortgage servicers are responsible for sending you...
The loan-to-value (LTV) ratio is a measure comparing the amount you are financing with the appraised value of the property. The higher your down payment, the lower your LTV ratio.
Over the past decade, we have seen a significant incursion into consumer deposit taking and payments activities by companies that aren’t banks or credit unions. These firms want the public benefits of being a bank or credit union, without the public obligations.
An estimated 43 million Americans are dealing with medical debt. Debt collection is the top complaint we’ve received since September 2013 and medical collections make up 52 percent of collection accounts on credit reports, far outpacing all other types of debt. Learn more about how you can keep medical debt in check.
Provides reports to help its insurance clients underwrite policies and investigate insurance claims. These reports contain information and data collected from open public sources and government agencies regarding driving violations issued to specific individuals. Clients that are employers or potential employers can also use these reports to help determine whether someone qualifies, or remains qualified, for a particular job. Drivers History is a subsidiary of TransUnion.
CFPB Director Rohit Chopra issued a statement on the “captive consumer” model of health savings accounts (HSAs).
Under section 1025 of Dodd-Frank, the Bureau has exclusive authority to examine for compliance with federal consumer financial laws and primary authority to...
Mortgage Servicers Kept Borrowers in the Dark About Options, Demanded Excessive Paperwork.
There are several types of costs and fees you pay when taking out a mortgage and purchasing a home. Some of these costs are directly related to the mortgage and others are part of homebuying or homeownership. Consider the costs directly related to the mortgage when you’re shopping for a loan.
A “piggyback” second mortgage is a home equity loan or home equity line of credit (HELOC) that is made at the same time as your main mortgage. Its purpose ...
Your mortgage servicer is the company that collects your monthly mortgage payments. This may not be the same as the bank or financial institution you went to for your mortgage.
Several things can cause your mortgage payment to change. Check your mortgage statement for the itemized charges. If you still have questions, contact your servicer.
As you explore loan choices, follow these steps to meet with lenders, ask questions, and decide what kind of mortgage is right for you.
Last month, the FDIC Board of Directors voted to propose a rule that would reduce the risk of bailouts and financial crises stemming from large bank failures.
Community banks and credit unions play critical roles in ensuring a fair, transparent, and competitive marketplace for consumer financial products and services.
On January 19, 2021, the Consumer Financial Protection Bureau issued a final rule to implement a requirement of the Economic Growth, Regulatory Relief, and Consumer Protection Act.
"The mortgage servicing rules we are considering reflect two basic, common-sense principles – no surprises and no runarounds," said CFPB Director Richard...
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 7,062 U.S...
Once you find the right home, it’s time to find the right mortgage. Get offers from lenders and compare options to choose the loan that's right for you.
Hurricanes like Maria, Irma, and Harvey can bring flood damage and financial distress. Know who to contact, what to expect, and how to avoid scams as you reorganize your finances.
