CFPB CFPB. Consumer Financial Protection Bureau HECM Loss Mitigation mortgage servicing Private Mortgage Insurance Supervisory Highlights 2019-03-13 Krista Franks Brock Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Home / Daily Dose / CFPB Report: Loss Mit Problems and Servicer Solutions Demand Propels Home Prices Upward 2 days ago CFPB Report: Loss Mit Problems and Servicer Solutions Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, Loss Mitigation Share Save Print This Post About Author: Krista Franks Brock Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Related Articles March 13, 2019 1,956 Views Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Previous: National Flood Insurance Program: A New Way Forward? Next: DACA Borrowers: FHA Eligible Again? In its 18th edition of its Supervisory Highlights, released Tuesday, the Consumer Financial Protection Bureau (CFPB) identified four areas of supervisory activity at mortgage servicers as well as servicers’ response.The four areas included: “charging consumers unauthorized amounts,” “misrepresenting private mortgage insurance cancellation denial reasons,” “failing to exercise reasonable diligence to complete loss mitigation applications,” and “representing the requirements for foreclosure timeline extensions in Home Equity Conversion Mortgages.”The report covers supervision between June 2018 and November 2018.The CFPB found that at least one servicer charged borrowers greater late fees than allowed by the mortgage note. The bureau identified “programming errors in the servicing platform and lapses in service provider oversight” as the causes for the overcharges.Servicers responded by identifying affected borrowers to resolve the issue as well as changing policies to ensure borrowers are not overcharged in the future.Second, the CFPB found misrepresentations when responding to borrowers’ requests for private mortgage insurance cancellation. When denying some borrowers’ requests, servicers’ sometimes misstated the reason for the denial. The CFPB explained that this is problematic because “borrowers receiving the incorrect denial reason may fail to address other eligibility requirements to obtain PMI cancellation.”The servicers in question have altered templates and procedures to future cancellation denial notices explain the “accurate denial reasons.”Next the CFPB said in its Supervisory Highlights that it identified cases where servicers did not exercise “reasonable diligence” in acquiring sufficient documentation to complete loss mitigation, as required by Regulation X.After approving short-term forbearance, the servicers identified did not advise the borrower that further documentation was necessary to complete full loss mitigation procedures.After receiving notification from the CFPB, the servicers identified the affected borrowers and notified them about other loss mitigation options that could be possible with additional documentation.The last mortgage servicing issue covered in the Supervisory Highlights dealt with Home Equity Lines of Conversion Mortgages (HECMs) in the case of a deceased homeowner. When a homeowner with a HECM dies, his or her successor must pay the loan balance in full if he or she wishes to keep the home, or the home will be foreclosed. Successors may, however, file for extensions on the loan balance.In some instances, successors received notices specifying the documents necessary to file for an extension on the loan balance due but did not include a deadline for the documents. Alternately, some successors were not notified of all the documents necessary to file an extension.The CFPB clarified that it “did not find that this conduct amounted to a legal violation,” but it could fall into the category of “a deceptive act or practice.”After receiving notice from the CFPB about the practices, the servicers “planned to improve communication with successors, including specifying the documents successors needed for an extension and the relevant deadlines.”In its Supervisory Highlights, the CFPB also reviewed a few of its own program developments that took place between June and November 2018. These included a joint statement with other government and finance organizations explaining “that supervisory guidance does not have the force and effect of law, and the agencies do not take enforcement actions based on supervisory guidance.”The bureau also issued a statement in September regarding its practices when dealing with consumers and institutions affected by natural disasters. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: CFPB CFPB. Consumer Financial Protection Bureau HECM Loss Mitigation mortgage servicing Private Mortgage Insurance Supervisory Highlights The Week Ahead: Nearing the Forbearance Exit 2 days ago
Source: BrakesBrakes has launched a cake range aimed at helping operators tap into the vegan boom.Its line-up comprises the Vegan Jaffa Cake, Vegan Salted Caramel cake, Vegan Choc Fudge Cake Pre-cut, Vegan Cherry & Chocolate Dessert and Vegan Jam Roly Poly.The Vegan Jaffa Cake – described as the first in foodservice – is the centrepiece of the collection of ‘classic and modern’ bakes.Covid-19 has driven a growing trend towards familiar, nostalgic comfort food, said the firm. The vegan sector has grown by more than 400% in the past five years, it added.“We’ve developed a fantastic range of vegan products, which do not compromise on taste or quality and will help our customers take a slice of this increasingly lucrative sector,” said Vanessa Baker, category manager for bakery, desserts & ice cream at Brakes.“The growth of vegan products has been exponential and it shows no signs of stopping. It’s important, particularly in these difficult times, that we help our customers to capitalise on as many opportunities as possible.”French Mademoiselle Desserts teamed up with Brakes to create the Vegan Jaffa Cake.“We wanted to create a cake that wasn’t just vegan; but would perform well in its own right. In consumer trials, the feedback we received was amazing, and completely supported our belief that this is going to become a firm favourite on menus across the country,” added Henry Franklin, national account manager at Mademoiselle Desserts.
Shaun Coyle leaving Letterkenny Court. (North West Newspix)A man who attacked a woman after putting his hand up her skirt and touched her privates after a party for his grandson’s First Holy Communion has been fined €1,000.Shaun Coyle, 66, attacked neighbour Olive Allen as they were socialising in a bar in Carrigans. Ms Allen had been enjoying a drink with her boyfriend when Coyle approached they couple in a drunken state in the Carraig Inn.Coyle initially slapped Ms Allen in the back and said he could have both of them shot.But they made friends and he bought Ms Allen and her boyfriend Robert Cole a drink.However, Coyle retuned later in the evening and began chatting to the couple again telling Ms Allen that if he was 30 years younger he would fancy his chances with her.Mr Cole left to have a smoke outside and a row ensued between Ms Allen and Mr Coyle.It was then claimed that Coyle, a fisherman from Castletown, St Johnston, then put his hand up Ms Allen’s short skirt and a fight ensued.Ms Allen, 46, of Transallagh, St Johnston, kicked Mr Coyle in the stomach and then threw a bottle at him.Ms Allen admitted that she had ben barred form the pub as a result of throwing the bottle at Mr Coyle.Both Mr Coyle and Ms Allen appeared at Letterkenny District Court yesterday charged with assaulting each other during the incident on May 17th, 2014.Pictures of both Ms Allen and Mr Coyle’s injuries after the fight were produced in court.Giving her evidence Ms Allen, who was sobbing in the witness box said “He put his hand up my skirt and he should not have. He touched my privates and he just can’t do that. I fought back but he was clawing my face.”She claims din her evidence that Mr Coyle had often been ‘sleazy’ in his conversation with her but that she had just ignored it.Mr Coyle admitted having words about his daughter with Ms Allen but denied that he ever put his hand up her skirt and touched her inappropriately.He said “No I did not. I put no hand up no skirt. There were three men had to hold her of me.”He claimed that she had attacked him and that she struck him in the face, knocking off his glasses and causing him to fall to the floor.After hearing the evidence, Judge James Faughnan said he was satisfied that it was Mr Coyle who provoked Ms Allen and dismissed the charge of assault against her.Judge Faughan asked Ms Allen what she wanted to happen to Mr Coyle and she replied that she simply did not want what happened to her to happen to anybody else.Solicitor for Mr Coyle, Kieran O’Gorman said his client had undergone a serious operation and had no previous convictions of any kind.The judge said Ms Allen’s injuries were self evident and that they were nasty injuries and fined Coyle €1,000, giving him six months to pay the money.MAN WHO ATTACKED WOMAN IN BAR AND PUT HAND UP HER SKIRT FINED €1,000 was last modified: January 21st, 2016 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:attackCarriganscourtdonegalOlive AllenShaun CoyleSt Johnston