CFPB Complaints: What They Mean to Servicers

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Black Knight Financial Services CFPB Complaints CoreLogic Five Star Institute 2016-09-01 Kendall Baer Home / Daily Dose / CFPB Complaints: What They Mean to Servicers Sign up for DS News Daily Subscribe September 1, 2016 1,153 Views The Best Markets For Residential Property Investors 2 days ago Share Save Previous: Pending Home Sales Prevail Despite Tight Inventory Next: Freddie Mac Sets Up Sale of Sixth STACR Pool Demand Propels Home Prices Upward 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Black Knight Financial Services CFPB Complaints CoreLogic Five Star Institutecenter_img Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Kendall Baer Data Provider Black Knight to Acquire Top of Mind 2 days ago Consumer Financial Protection Bureau (CFPB) complaints are difficult to track and address, but they can potentially cause significant reputational damage to mortgage lenders and servicers if common issues in the complaints are not handled properly, according to a recent report from CoreLogic.The report states they used CoreLogic tax servicing data to evaluate the reasons for CFPB mortgage complaints and found that the number of overpayment-related escrow account refunds is one of the main factors of these complaints.The report also states that escrow accounts are often required by the lender or servicer to pay taxes and hazard insurance premiums for the borrower on top of monthly mortgage payments and likewise, the servicers typically evaluate the principal, interest, tax, and insurance on an annual basis and charge borrowers on a monthly basis. CoreLogic reports that if the borrowers overpay, they will receive a refund at the end of the year, and the overpayment can be due to various reasons such as borrower overpayment during closing, double payments by both the borrower and the servicer and inaccurate annual bill estimation.Where the problem lies according to the report is if borrowers learn that they have been overpaying for months without the opportunity for a refund. If the borrowers have a non-escrow account, on the other hand, they will be responsible for all the tax and hazard insurance payments and can potentially encounter penalties from the taxing agency for late payments.CoreLogic determined after extracting complaints data from the CFPB’s official website from January 2013 through December 2015 for four relevant complaint categories: loan servicing, payments, escrow account; application, originator, mortgage broker; settlement process and costs; and credit decision/underwriting, that mortgage servicers can achieve a significant reduction in borrower complaints by improving the accuracy of their yearly mortgage bill estimation and more efficiently processing refunds to the borrowers. But even with this information, the question remains: are these CFPB complaints an accurate representation of these servicers and lenders?The Five Star Institute and Black Knight Financial Services came together in March of 2015 in a white paper examining how the mortgage-related complaints received by the CFPB are on the decline after an initial ramp-up period, and delinquent loans and foreclosures have also decreased. The report seeks to address of the question of whether these two stats are falling at the same rate and if there is a correlation between the two.For the comparison of complaint trends and loan trends, the comparison revealed that complaints in the category of “loan modification, collection, and foreclosure” declined by more than 50 percent on an absolute basis and by 35 percent on a relative basis versus non-current loan inventory. This translates to a rate of about 13 complaints per 10,000 non-current loans as of Q4 2014. Meanwhile, the rate of complaints received in the “loan servicing, payments, and escrow account” was reported to be only one for every 10,000 current loans in Q4, which calculated to just 0.77 basis points.“When the data presents that there are 13 complaints per 10,000 non-current mortgage loans, we need to ask the question if the criticism mortgage servicers are receiving is warranted, and if these numbers instead align more closely with the normal course and expectations of doing business,” said Ed Delgado, President and CEO of The Five Star Institute.For more information on the study click HERE.The Five Star Institute is the parent company for DS News and DSNews.com. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago CFPB Complaints: What They Mean to Servicers Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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A record 1,205 Covid 19 cases reported in ROI, 50 in Donegal

first_img A record 1,205 Covid 19 cases reported in ROI, 50 in Donegal *Validation of data at the HPSC has resulted in the denotification of 19 confirmed cases. The figure of 46,429 confirmed cases reflects this.Today’s cases, 14-day incidence rate per 100,000 population and new cases in last 14 days (as of midnight 14 October 2020) (incidence rate based on Census 2016 county population) Pinterest Wexford27188.3282 Cork173232.31,261 Mayo24106.5139 News, Sport and Obituaries on Monday May 24th Cavan63639.3487 Facebook Google+ By News Highland – October 15, 2020 CountyToday’s Cases(to midnight 14/10/20)14-Day incidence rate per 100,000 population(14 days to midnight 14/10/20) Limerick41207.3404 Longford16193.379 Homepage BannerNews Donegal50367.5585 Galway97203.4525 A record 1,205 cases of Covid-19 have been reported today in the Republic, 50 of them in Donegal.Three more deaths have been confirmed.That brings the number of Covid related deaths to 1,838 since the pandemic began, with a total of 46,429 confirmed cases.Donegal’s 14 day incidence rate as of midnight last night was 367.5 per 100,000 people, the second highest in the country, Nationally, the figure has risen above 200, and sites at 206.7. Arranmore progress and potential flagged as population grows Facebook Monaghan14350.2215 New Cases during last 14 days(14 days to midnight 14/10/20) WhatsApp Nine til Noon Show – Listen back to Monday’s Programme Offaly12152.6119 Kildare34199.1443 Twitter NATIONAL1,205206.79,843center_img Clare13306.4364 Waterford1982.696 Roscommon21203131 Pinterest Laois32160.6136 Community Enhancement Programme open for applications Kilkenny8108.8108 Google+ Statement from the National Public Health Emergency TeamThe Health Protection Surveillance Centre has today been notified of 3 additional deaths related to COVID-19.There has been a total of 1,838 COVID-19 related deaths in Ireland.As of midnight Wednesday 14th October the HPSC has been notified of 1,205 confirmed cases of COVID-19. There is now a total of 46,429* confirmed cases of COVID-19 in Ireland. Of the cases notified today;614 are men / 590 are women71% are under 45 years of ageThe median age is 34 years old288 in Dublin, 173 Cork, 123 in Meath, 97 in Galway 63 in Cavan and theremaining 461 cases are spread across all remaining counties.As of 2pm today 241 COVID-19 patients are hospitalised, of which 29 are in ICU. 24 additional hospitalisations in the past 24 hours.Dr. Tony Holohan, Chief Medical Officer, Department of Health said; “There has been further increases across all key indicators of COVID-19 and the growth rate of the epidemic has accelerated since NPHET last met.“Cases notified over the past week have increased by 82% compared with the previous 7 days, from 3,514 to 6,382 cases.“The positivity rate over the past 7 days is now 6.2% and is continuing to increase.”“The 14-day incidence in those aged 65 years and older has increased from 92.9 per 100,000 population on 7th October to 125 per 100,000 population on the 14th of October.“The number of hospitalisations are increasing faster than the exponential growth modelling predicted. This indicates a rapidly deteriorating disease trajectory nationally.”Dr. Ronan Glynn, Deputy Chief Medical Officer, Department of Health said; “There is now a deteriorating epidemiological landscape across the EU. Many EU countries are experiencing increasing hospitalisations, ICU admissions and deaths related to COVID-19.“Our priorities remain focused on protecting the medically and socially vulnerable, protecting childcare and education settings and preventing unnecessary disruption to non-COVID health and social care services.”Professor Philip Nolan, Chair of the NPHET Irish Epidemiological Modelling Advisory Group, said “The reproduction number appears to have increased and is now at 1.4 nationally. Modelling shows that if current trends continue, by October 31st, the number of cases notified daily would be in the range of 1,800 – 2,500 cases with over 400 people in hospital.”Dr Colm Henry, Chief Clinical Officer, HSE, said; “The challenge we have now is much greater than earlier this year, as we are trying to suppress COVID-19 while maintaining our non – COVID services and providing safe environments in our acute settings.“The higher the community transmission the more difficult it is to protect medically vulnerably people in all heathcare settings. We appeal to everyone to play their part in protecting patients, healthcare workers and frontline services.”The COVID-19 Dashboard provides up-to-date information on the key indicators of COVID-19 in the community.ENDS// Westmeath45217.4193 RELATED ARTICLESMORE FROM AUTHOR *Further validation is required on 13 of today’s cases and they are not yet assigned to a county. Loganair’s new Derry – Liverpool air service takes off from CODA Carlow684.348 Twitter Sligo24241.1158 Leitrim7162.352 WhatsApp Meath123355.8694 Kerry39178.7264 Dublin288194.12,615 Previous articleNews, Sport, Farming News and Obituaries on Thursday October 15thNext articleThe Score – 15/10/20 / Inter-County Sport Returns News Highland Important message for people attending LUH’s INR clinic Wicklow877.9111 Louth16161.4208 Tipperary579.0126last_img read more

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Bay Shore Man Charged With Murder

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A Bay Shore man was arrested and charged with murdering a 26-year-old man who was found dead in a wooded area of Middle Island two weeks ago, Suffolk County prosecutors said.Michael DirkschneiderMichael Dirkschneider pleaded not guilty to first-degree murder, second-degree murder and criminal possession of a weapon Wednesday at Suffolk County court.Authorities said the 30-year-old suspect allegedly shot Alexander Incorvia to death behind a shuttered K-Mart store on Middle Country Road.Police recovered a .45-caliber handgun, which investigators believe to be the murder weapon, from Dirkschneider’s dresser on April 2, the same day a woman found the victim’s body, prosecutors said.Incorvia’s body was found by a woman walking her dog in the wooded area behind the vacant store. The victim, a resident at the Comfort Inn on Route 112 in Medford who had been reported missing days earlier, was shot multiple times.A grand jury indicted Dirkschneider for the homicide on Friday, prosecutors said.last_img read more

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Koeman a doubt for season opener

first_img The Saints boss ruptured his Achilles in training on the eve of the match, meaning he took to his place on the bench with crutches and his foot in a protective boot. Assistant manager Erwin Koeman did the post-match media activities as a result and suggested his brother may not be able to travel to Sunday’s league opener against Newcastle. “He knows he has already some problems with his Achilles and if you are involved in a training sessions then s*** can happen like what happened,” he said. “Okay, we will hear tomorrow what happened and we will hear tomorrow if he is on Sunday on the bench or not. “Tomorrow morning he goes to hospital and then they will decide what to do.” Fortunately for Saints, Koeman’s injury is their only fresh concern heading to St James’ Park – thanks in no small part to the fact the second leg often resembled an exhibition match after Pelle’s early strike. “After four minutes, it was a fantastic goal for Graziano and you know then they have to make five and it’s almost impossible,” Erwin Koeman said. “For us, it was a fantastic start. “We were happy with the goal because it’s all about the result and going on in the Euro League, so for us it was a fantastic start. Ronald Koeman may have overseen progress to the Europa League play-offs, but the Southampton manager’s place at Sunday’s Premier League opener is in jeopardy. “The rest of the game we defended very well. They had some shots outside the 18-yard box, but I think in ball possession we did not play a good game. “We have to improve more, especially for Sunday. We can do better and we have to do better.” It was a positive end to a day which saw unsavoury clashes between fans beforehand, with police storming in after glasses, chairs and punches were thrown in the city centre. The incident saw 50 Dutch fans and three English supporters arrested, with a Southampton spokesman promising the club “will take relevant action against those involved”. There were no such flare ups come game-time, though, and assistant Koeman praised the 1,500 travelling fans. “I think our supporters were amazing like last week the Vitesse supporters,” he said. “Of course they are looking forward to the draw as we are also, and then going to Newcastle and it starts on Sunday. “We are looking forward to going to Newcastle.” Boasting a three-goal advantage from the first leg against Vitesse Arnhem, the Dutchman masterminded another victory against his former club on Thursday. Graziano Pelle and Sadio Mane netted in the 2-0 win, taking the third qualifying round tie to 5-0 on aggregate and giving Koeman something to smile about at the end of a painful return to the GelreDome. Press Associationlast_img read more

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