Real Estate Deeds Made Easy Since 1997
Are lenders’ “junk fees” pushing the high cost of closing on a home even higher? The federal government thinks so.
The Consumer Financial Protection Bureau (CFPB) says fees need to be more transparent, understandable, and reasonable.
Why are the fees charged? Are they really “junk”? Do borrowers get a say in what they pay? Let’s take a look.
Continue reading “Consumer Financial Protection Bureau Gets Tough on Mortgage Loan Junk Fees”
Remember that Halloween cyberattack on Mr. Cooper? Hackers got customers’ names and birth dates, Social Security numbers, addresses and phone numbers. They even got access to people’s banking details.
Some customers — new and longtime — tried to log in and could not access their accounts. They could not make payments. Even worse, the breach derailed some home buyers’ closing days.
Some people just recently received letters about the breach, and realized that the Mr. Cooper Group must have touched their mortgages at some point. Some of the exposed customer information came from households financed or serviced by Nationstar Mortgage — Mr. Cooper’s previous name. Their past information was still stored in the system. According toTechCrunch, nearly 14.7 million people had their data stolen.
But there’s more. Mr. Cooper wasn’t the only mortgage firm dealing with security breaches.
A spate of recent cyberattacks hit three more big mortgage and title companies: National Financial (FNF®), First American Financial, and loanDepot®. All in the past four months. The fallout is ongoing.
Continue reading “The Hacks Keep Coming: Private Customer Data Exposed at Four Major Mortgage Companies”