Topic
Mortgage Relief
31 published works
Consumer Finance Monitor
FTC obtains restraining order against mortgage relief assistance operation
By Richard J. Andreano, Jr., John L. Culhane, Jr.
A U.S. District Court Judge has temporarily halted an allegedly deceptive mortgage assistance relief operation lured homeowners with promises that it could provide mortgage relief assistance under the Coronavirus Aid,…
Financial Services Perspectives
California Enacts Mortgage Forbearance Act, Effective Immediately; Will Pose Compliance Challenges for Servicers
On September 22, 2025, California Gov. Gavin Newsom signed the Mortgage Forbearance Act into law, with an immediate effective date. The law, designed to provide emergency relief to California mortgage…
Financial Services Perspectives
Veterans Affairs Ending Mortgage Rescue Program
By Christy W. Hancock, Jason R. Bushby, Robin-Renee Keys
On April 3, 2025, the U.S. Department of Veterans Affairs (VA) announced it will end the Veterans Affairs Servicing Purchase (VASP) program on May 1, 2025. This decision comes just…
Consumer Finance Monitor
Led by California MBA, five banks provide mortgage relief for fire victims
Led by the California Mortgage Bankers Association, five lenders have made commitments to provide mortgage relief for the victims of the California wildfires. The five institutions are Bank of America,…
Financial Services Perspectives
FHA Proposes New Partial Claim Loss Mitigation for Struggling Borrowers
By James W. Wright Jr., Britney M. Crawford
On May 31, 2023, the Federal Housing Administration (FHA) published a draft Mortgagee Letter (ML) titled “Proposed Payment Supplement Partial Claim.” The draft ML proposes use of available partial claims…
Consumer Finance and Fintech Blog
FTC, DFPI Shut Down Mortgage Relief Operation
By Moorari Shah, A.J. Dhaliwal
Recently, the FTC and California Department of Financial Protection (DFPI) sued several companies and owners for allegedly operating an illegal mortgage relief operation. This action alleges that the defendants’ conduct…
All About Advertising Law
FTC Joins with California DFPI to Obtain Asset Freeze Against Mortgage Relief Business
Last week, the Federal Trade Commission turned its attention to the mortgage relief industry once again. In its most recent enforcement action, the FTC joined forces for the first time…
Consumer Financial Services Law Monitor
CFPB Highlights Extension of Period to Request Initial COVID-19 Hardship Forbearance for Certain Government-Backed Loans
By David M. Gettings, Paul Boller
On October 4, the Consumer Financial Protection Bureau (CFPB) announced on its website that the deadline to request initial forbearance for a COVID-19 hardship for loans backed by the Federal…
Consumer Finance Monitor
Seventh Circuit vacates restitution award to CFPB in action against mortgage-assistance relief companies and lawyers
In a decision issued earlier this summer, the U.S. Court of Appeals for the Seventh Circuit vacated the district court’s order awarding restitution, mandating civil penalties, and issuing an injunction…
Financial Services Perspectives
Department of Veterans Affairs Expands Its Limited-Time COVID-19 Mortgage Relief Options
On July 23, 2021, the Department of Veterans Affairs (VA) released Circular 26-21-13, which announced a new temporary modification called the COVID-19 Refund Modification. The COVID-19 Refund Modification and the…