CFPB Tackles Mortgage Debt Collection Issues

first_imgSubscribe Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. CFPB Tackles Mortgage Debt Collection Issues Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, News Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago CFPB Consumer Debt FTC HOUSING mortgage Obduskey vs. McCarthus Holthus 2019-03-21 Radhika Ojha Previous: Out of the Seller’s Market, Into the Buyer’s Market Next: Homeowner Remodeling Trends At a Glance  Print This Post About Author: Radhika Ojha Financial services debt was the largest source of revenue for the debt collection industry, according to the Consumer Financial Protection Bureau’s (CFPB’s) annual report on its administration of the Fair Debt Collection Practices Act. The bureau said that revenue from financial services debt accounted for nearly 40 percent of debt collection revenue in 2018.The bureau noted that after several years of growth, consumer debt surpassed its 2008 peak in 2017, rising to a new high of $13.54 trillion in the fourth quarter of 2018. However, while mortgage debt increased, the growth in consumer debt was mostly fueled by non-housing debt such as credit cards and auto loans.The report revealed that the CFPB planned to issue a notice of Proposed Rulemaking relating to debt collections this spring. It said that the notice would address issues such as communication practices and consumer disclosures.”The Bureau understands that the debt collection industry, by and large, wants to comply with consumer protection laws,” said Kathy Kraninger, Director of the CFPB, in the report. “However, where there are bad actors who violate the law, we will take enforcement actions to protect consumers.”The report also highlighted some of the lawsuits and amicus curiae briefs filed by the CFPB and Federal Trade Commission to address the debt collection practices in the mortgage industry. They included an amicus brief on the Obduskey vs. McCarthy Holthus case on which the Supreme Court issued a ruling on Wednesday.The amicus briefs also included one on the deficiency judgment in judicial foreclosure in the case of Cohen vs. Ditech Financial LLC. This brie addressed whether “the FDCPA applies to judicial foreclosure proceedings in state court where, under state law, the debt collector is entitled to seek a deficiency judgment against the consumer for the amount of any mortgage debt remaining after the foreclosure sale.”Read the complete report here. Related Articles Tagged with: CFPB Consumer Debt FTC HOUSING mortgage Obduskey vs. McCarthus Holthuscenter_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago March 21, 2019 1,941 Views Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / CFPB Tackles Mortgage Debt Collection Issueslast_img read more

Rangers Get N1m Per Goal Boost as they Depart for Algeria

first_imgThe Flying Antelopes who are due to depart Lagos for Algiers this morning were promised this mouth-watering bonus by a staunch supporter of the team, Charles Ugwu, during a send-forth meeting Enugu State Governor, Ifeanyi Ugwuanyi, had with the players and officials yesterday.Ugwu stressed that he is moved to make the promise to the players to boost their chances of progressing in the competition “because Rangers is not just a team but also a movement that has united Ndigbo over the years.” He further assured the governor to mobilise supporters of the club for the task before Rangers.Earlier, Ugwuanyi charged Rangers to display their professionalism and commitment to be able to win the match.The governor also assured the club of the blessings, best wishes and prayers of the whole nation “as ambassadors and flag bearers of our great country Nigeria in this competition”.He said that the state remains grateful to God for bringing Rangers to the competition as Champions of the Nigerian Professional Football League (NPFL), adding that with “God on our side, we are confident that you will come back from this competition as Champions of Africa in Jesus Name.“Having lifted the NPFL trophy after 32 years in the wilderness, we have revived the famous Rangers spirit; the spirit of commitment, industry, ingenuity and brotherhood; the Never-Say-Die spirit of Rangers – the true champions.“And as you depart for Algeria today, we pray that the Almighty God will grant you divine protection, guidance and a resounding victory against your opponents”, Gov. Ugwuanyi concluded.In his remark, the captain of the team, Mathew Etim, pledged that the players were determined and going for business in Algeria to make Enugu State proud once again, calling for the support and prayers of the people of the state and fans.The club led by its General Manager, Christian Chukwu, arrived Lagos yesterday en-route Algeria for the match on Friday.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram CAF CHAMPIONS LEAGUE Christopher Isiguzo in EnuguAhead of Friday’s first leg, preliminary round game of this year’s CAF Champions Leaguebetween Rangers International Football Club of Enugu and the J.S Saoura of Algeria, the Nigerian champions have been boosted with promise of N1million for every goal scored against the north African team.last_img read more

Deontay Wilder vs. Dominic Breazeale a ‘joke fight’, insists Dillian Whyte

first_imgThe 30-year-old has reeled off nine successive wins since losing to rival Anthony Joshua in December 2015, with that stoppage defeat the only blemish on his professional record.”Wilder should have fought me a year ago. We’ve offered him $15 million, and he’s going to make $1m or $2m fighting Breazeale. Why?” Whyte said. “I’m your No. 1 challenger, I’m a bigger name than Breazeale, I bring more to the table and I’m going repay you $15 million.”He just doesn’t want the fight. For some reason there’s something about me he sees that he doesn’t like – whether that the body punches, toughness or what, I don’t know.” Join DAZN to watch GGG in June and 100+ fight nights a yearWhyte had previously been set to take on Breazeale to decide who would become the mandatory challenger for the belt, only for the latter to then suddenly be elevated to the position.Now left in limbo, the Jamaica-born fighter has questioned why he has been overlooked by the WBC.”It’s a joke fight, it’s all politics,” Whyte told talkSPORT. “They’ve had no choice, they’ve been put in this position.”He shouldn’t be mandatory. I’ve been the number one for two years, I’ve won every single title outside the world title the WBC have to offer.”I don’t understand, how come he’s fighting Wilder?”Whyte also criticized Wilder for turning down a lucrative offer for them to face each other, believing his unbeaten rival is simply not keen to come up against him. Dillian Whyte has hit out at the WBC’s decision to order Deontay Wilder to defend his title against Dominic Breazeale, branding the fight a “joke.”The governing body issued a statement on Wednesday announcing heavyweight champion Wilder will face fellow American Breazeale next after failing to agree a deal for a rematch against Tyson Fury.last_img read more