Understanding Mortgage Prepayments and Charges #mortgage #rates #forecast


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Understanding Mortgage Prepayments and Charges

Understanding Mortgage Prepayments

Some homeowners find themselves able to pay off their mortgage early, or they wish to break their current mortgage. However it’s not always easy to make sense of a mortgage provider’s prepayment charges.

Since we understand that being mortgage-free is an important goal for many of our clients, Scotiabank has established some of the most competitive prepayment terms among the other financial institutions. For example, all of Scotiabank’s mortgages include prepayment privileges and unique Match-a-Payment ® options.

To help customers make informed decisions, we provide a user-friendly guide, What You Need To Know About Mortgages & Mortgage Prepayment Charges (68 kb). which includes a glossary of commonly used mortgage terms, provides a mortgage type comparison and suggests ways you can pay off your mortgage faster without having to incur a prepayment charge. It also explains how prepayment charges are calculated and options available that would not require any prepayment charges to be collected.

We also offer the Mortgage Prepayment Charge Calculator to estimate an approximate prepayment charge that would be applicable as of today’s date. You can change the information you enter such as prepayment amount, or the remaining term, so you can see how these changes can affect a prepayment charge.

To use the calculator, you should gather the following information:

  • Mortgage Contract
  • Cost of Borrowing Disclosure Statement
  • Repayment Terms Confirmation Letter (mailed to you after the closing date)
  • Most recent Renewal Agreement
  • Your Annual Mortgage Statement

Keep in mind that there are many ways to pay off your mortgage faster, by taking advantage of regular prepayment options that may be included in your existing mortgage agreement. For example, depending on the options you select for your mortgage, you can choose to repay up to 10%, 15% or 20% of the original principal amount of your mortgage at any time during each year of the term. This is a great option if you find yourself with extra money, such as a tax refund, monetary gift or inheritance.

To learn more about these options, talk to a Scotiabank Advisor or read our Own a Home, Not a Mortgage article.

Additional information


Business interest rates, fees – charges #lowest #mortgage #rates


#business mortgage rates

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Interest rates, fees and charges

Customer Margin may apply.

**These interest rates are indicative and are subject to change on a daily basis. Rates are linked to the “bid rate” quoted on the “BBSY” page of the Reuters Monitor System at or about 10.15am 9 September 2016 Sydney time. Different rates apply to different Pricing Periods. Details of current rates available on request. These rates are current as of 9 September 2016. For details of rates that apply on any other date please contact NAB.

***These rates are current as at the 1st of every month for that month. For full pricing details, please consult your foreign currency invoice finance facility agreement.

* Rates apply whilst qualifying criteria met otherwise Base Rate/Term Base Rate is the applicable indicator rate.

® Registered Trade Mark of American Express Company.

All rates and underwriting fees are effective, 12 September 2016 and are subject to change at any time.

To find out more, visit nab.com.au, call into a NAB branch, or call 13 10 12. Fees and charges apply.

Full details of these and relevant terms and conditions are available on application.


Chicago Criminal Defense Lawyer – Cook County, Illinois Battery Attorney – Law Office of Chris


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Chicago Criminal Defense Lawyer

People who have been arrested and charged with a crime need a lawyer they can trust. Someone who not only understands their fears, but, who can guide them through the legal wilderness they are in.

That s where I come in. My name is Chris Shepherd, a lawyer living in downtown Chicago focusing on the legal needs of people arrested for a misdemeanor or felony in Chicago and throughout Cook County.

To learn more about me and my practice philosophy, read my Attorney Profile page.

Here s How I Can Help You

Most of my clients fall into two categories: a) people who have been arrested for misdemeanors. such as battery. shoplifting or soliciting a prostitute and b) people who have been arrested for felonies such as sexual assault. drug offenses and armed robbery.

Your Primary Objectives in Misdemeanor Cases

For clients charged with misdemeanors and some less serious felonies. my primary objectives as a Chicago criminal defense attorney are usually:

  • Getting you through the case with no permanent impact to your record and
  • Getting there in the quickest, least expensive and lowest risk way.

Today’s job market is extremely competitive and my clients are justifiably concerned with the impact a conviction or guilty plea can have on their earning potential and career prospects.

Depending on several specific factors, there are usually ways to achieve these goals through negotiations with prosecutors instead of lengthy and expensive litigation.

For more on this, read my Settlement Options page.

Your Primary Objectives in Felony Cases

For clients charged with serious felonies, quick resolutions are usually not an option, so the primary objective is avoiding jail. How do we do this?

Often at the beginning of a felony case, everything looks like it favors the police and prosecution. After all, if the prosecutor saw a serious weakness, they could easily have declined to bring the case.

The key in these high stakes cases is to out-think, out-imagine, out-investigate, out-research and out-prepare the other side. Experience teaches that out of court action ensures the greatest possibility of success in court.

In many cases, there is a single piece of evidence that severely weakens the prosecution s case leading either to total dismissal or a more favorable settlement offer. Securing a video before it is destroyed, finding criminal history in your accuser s background, getting witness statements down on paper before they disappear these are just a few of the many methods that have completely broken cases against my clients.

For more on this, read my Beat Your Case page.

Let s Have a Conversation

If you re the type of person who values experience and discipline in the people who serve you, get in touch. Since 2005, I have helped hundreds facing felony and misdemeanor accusations defeat the charges or at least control the damage they can cause. If there is a way to beat your case, I will find it. If there is a way to settle your case quickly while keeping your record clean, I will find it. On the way, phone calls and email will be answered promptly and you will have direct access to me personally.

For a free and confidential 15-minute consultation with a Chicago criminal defense lawyer, call me at 312.396.4112 or contact me online.


Omaha criminal defense attorney #sex #crimes, #criminal #law, #criminal #charges


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Prostitution

Sometimes called the oldest profession, prostitution can take many forms, from streetwalkers and brothels, to sophisticated call-girl or escort services. Prostitution laws make it a crime to offer, agree to, or engage in a sexual act for compensation.

Prostitution is Illegal Nationwide, Except for Nevada

Prostitution is illegal in all states except certain parts of Nevada, where it is strictly regulated. Some state statutes punish the act of prostitution. and other state statutes criminalize the acts of soliciting prostitution, arranging for prostitution, and operating a house of prostitution. As for federal statutes, the Mann Act makes it a crime to transport a person in interstate or foreign commerce for the purpose of prostitution or for any other immoral purpose.

Depending upon applicable state law, the stages of a typical prostitution transaction can involve charges against the provider of services (for prostitution ), the customer paying for the services (for solicitation of prostitution ), and any middleman (for pandering or pimping ).

In most states offering sexual services or agreeing to provide those services in exchange for money is considered prostitution whether or not the services are provided. In most jurisdictions, the person offering sexual services is not the only one who can be charged with a crime.

Solicitation of Prostitution

The person who pays for the sexual services, sometimes called Johns, can face charges of solicitation of prostitution. Solicitation of prostitution is a crime involving a person’s agreement to exchange money for sex. The agreement does not have to be explicit. A person’s actions can be enough to demonstrate agreement. The solicitation charge can be enhanced by solicitation of prostitution to a minor, which will often result in the misdemeanor charge becoming a felony.

The crime of solicitation of prostitution occurs at the moment you agree to pay for sex, and take some action to further that agreement. Solicitation is simply encouraging someone to commit a crime. It does not matter if the crime ends up being committed or not. An action to further an agreement can be most any act demonstrating a willingness to go through with the agreement, like withdrawing money from an ATM.

Your Free Attorney Match with a Criminal Defense Lawyer

A conviction for prostitution or solicitation can carry penalties ranging from fines to prison time, but can also involve a social stigma that’s hard to leave behind you. It’s important to realize that you’re innocent until the government proves its case beyond a reasonable doubt. There are defenses available and an experienced criminal defense attorney can make sure that you put your strongest case forward or explore any plea bargain options available to you. There are attorneys near you that are available for a free case evaluation. Reach out to one today.


Joe Edwards Criminal Defense Attorney Columbus, Ohio #columbus #ohio #criminal #defense, #criminal #defense #attorney, #defend


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Criminal Defense Attorney in Columbus, Ohio

Everyone’s story begins differently. It could start with a D.U.I charge after a friend’s party, a knock at the door by federal agents armed with a search warrant, or a certified letter from the IRS. No matter how unexpectedly, when the Government accuses you of wrongdoing, your life can change dramatically.

Our firm understands that your case is not just about your good name and integrity but also your career, finances, family and freedom. We understand that facing the judicial system can seem frightening and overwhelming, but you need not do it alone. For 25 years, the law firm of W. Joseph Edwards has helped clients navigate the system during troubled times. Many of our clients believed all hope was lost and were ready to give up before entering our office. We helped show them that the process may seem daunting but good results are possible.

Our job as your lawyer is to listen, understand, offer encouragement educate and explore all possible alternatives to a conviction and/or sentence of imprisonment. We understand that our clients are people and not just defined by an indictment or accusation. Our dedication to every client means we will continue to fight for you until the best possible result is obtained.

We get results through experience, skill, creativity, and hard work. In addition, we pride ourselves on an up to date knowledge of the cyber techniques law enforcement uses to investigate cases to ensure that the constitutional rights of our clients are protected.

Before hiring another firm, give us a call or send us an email for a free consultation.

Wea pons Charges

Weapons charges can result from a wide array of situations, including concealed permit holder violations, having a weapon under disability. carrying concealed weapons. as well as a number of other charges. Weapons laws in Ohio are complex and serious in nature. If facing weapons charges in Central Ohio, it is important to retain a Columbus, Ohio criminal defense attorney who is experienced with OH weapons laws and defending weapons charges.

Are you or a family member facing criminal charges in the State or Federal Courts of Ohio? W. Joseph Edwards is a Columbus, Ohio based Criminal Defense Attorney representing clients for felony and misdemeanor charges including Assault. Drug. Theft, Sexual Assault. White Collar. and D.U.I. charges in courts throughout Ohio.

Drug Crimes

A person can be charged with drug offenses in either State or Federal Court. Drug charges can range from Possession. Trafficking. Cultivation of Marijuana, Corrupting Another with Drugs, and Deception to Obtain Dangerous Drugs.

Ohio DUI/OVI Charges

In Ohio, DUI. OVI and OMVI are all the same offense and involve consuming alcohol or a drug, like marijuana, to a degree that it affects to drive a motor vehicle, boat or bicycle. D.U.I.

White Collar Criminal Charges IRS Matters

These offenses deal with business type crimes like Bank Fraud, Mortgage Fraud, Identity Theft, Tax Fraud, Tax Evasion, and other Theft Offenses including Cyber and Computer Crimes.


Divorce Resources #court, #courts, #new #york, #new #york #state, #new #york #city, #nyc, #nys, #ny,


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Divorce Forms

The New York State Unified Court System offers free instruction booklets and forms for people starting a divorce.

Before you use the booklets and forms. we strongly suggest that you give serious thought to using a lawyer for your divorce, even if you believe that your divorce will be uncontested (i.e. your spouse will not oppose the divorce in any way). There can be a lot more to think about than just ending the marriage and filling out court papers. (For example, there may be property to divide between you and your spouse. or you may need an Order of Protection and/or child support and other financial support, among other things.)

If you are unsure how to find a lawyer, these resources can help you:

  • Call the New York State Bar Association Lawyer Referral Service (toll free) at 1-800-342-3661;
  • Go to lawhelp.org if you cannot afford a lawyer;
  • Visit the court system’s courthelp website;
  • Contact your local bar association for a referral;
  • If you live in the New York City area, go to the Collaborative Family Law Center to learn if you may be eligible for reduced-fee or free collaborative law services through a court-sponsored pilot program.
  • Ask at any courthouse about lawyer referral services.

Please read the instructions below that fit your situation
BEFORE filling out the forms.

Official Statewide Forms

  • For attorneys and self-represented litigants
  • Valid throughout New York State
  • Required by Court Rules
  • * OmniForms only work in Internet Explorer.
  • ** Fillable PDF Forms do not work in FireFox

IMPORTANT. You can use either the Adobe Acrobat or Foxit Reader to fill out the application. To save data entered in your form, you must use the FREE Foxit Reader or Foxit Phantom (paid product).

Using Foxit Reader* (a free easy to download Reader):
First, download and save the application to your local computer. Next, install Foxit, using these instructions.
*You must use Microsoft’s Internet Explorer Browser when working with Foxit.

Optional Attorney and Self-Represented Forms

  • Used to ask the court for relief
  • Confirm that these forms are valid in your county

Affidavit in Support of Motion for Contempt

Affirmation of Counsel Regarding Forensic Reports

Contempt of Court

Affidavit in Support of Motion for Money Judgment

Order to Show Cause for Money Judgment

Order to Show Cause for Temporary Relief

Affidavit in Support of Motion for Temporary Relief

Affidavit in Support of Order to Show Cause to Vacate Default Judgment


Business interest rates, fees – charges #nfcu #mortgage #rates


#business mortgage rates

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Interest rates, fees and charges

Customer Margin may apply.

**These interest rates are indicative and are subject to change on a daily basis. Rates are linked to the “bid rate” quoted on the “BBSY” page of the Reuters Monitor System at or about 10.15am 9 September 2016 Sydney time. Different rates apply to different Pricing Periods. Details of current rates available on request. These rates are current as of 9 September 2016. For details of rates that apply on any other date please contact NAB.

***These rates are current as at the 1st of every month for that month. For full pricing details, please consult your foreign currency invoice finance facility agreement.

* Rates apply whilst qualifying criteria met otherwise Base Rate/Term Base Rate is the applicable indicator rate.

® Registered Trade Mark of American Express Company.

All rates and underwriting fees are effective, 12 September 2016 and are subject to change at any time.

To find out more, visit nab.com.au, call into a NAB branch, or call 13 10 12. Fees and charges apply.

Full details of these and relevant terms and conditions are available on application.


Mortgage Prepayment Charge Calculator: Calculate prepayment charges when prepaying a mortgage loan #home #mortgage #refinancing


#prepayment mortgage calculator

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Mortgage Prepayment Charge Calculator

Say goodbye to paper forms, scanning and faxing. Complete your mortgage on your phone with our mobile mortgage app, CIBC Hello Home .

This calculator can be used to estimate the prepayment charge that would apply if you prepaid the full amount of your mortgage loan. You will need to input certain details about your CIBC mortgage loan into this calculator. You can find this information on your mortgage loan documents, through CIBC Online Banking, or by calling us at 1-888-264-6843 (for Quebec 1-800-813-1833)

This calculator can be used to estimate the prepayment charge that would apply if you prepaid part (but not all) of your mortgage loan. You will need to input certain details about your CIBC mortgage loan into this calculator. You can find this information on your mortgage loan documents, through CIBC Online Banking, or by calling us at 1-888-264-6843 (for Quebec 1-800-813-1833)

Do not use this calculator if your mortgage loan term has passed its 5th anniversary.

For information about prepaying your mortgage, please contact us at 1-888-264-6843 (for Quebec 1-800-813-1833)


Chicago Criminal Lawyer – Cook County Criminal Defense Attorney – Law Offices of David L


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Chicago Criminal Defense Attorney

Effective and Persuasive Defense of Misdemeanors and Felonies in Cook County and DuPage County

Our firm understands that being charged with a criminal offense can be one of the most unsettling and daunting occurrences to happen to an individual. Nothing can prepare you for an arrest and subsequent stay at the local police station while awaiting questioning or for formal criminal charges to be brought against you or a family member. And if you have never been through this process before, your first inclination might be to make a statement in the hopes that they will set you free. This would be your first mistake. Before speaking with any law enforcement personnel, you need to obtain legal representation from an experienced Chicago criminal lawyer. DO NOT DISCUSS YOUR CASE WITH ANYONE INCLUDING LAW ENFORCEMENT UNTIL YOU HAVE AN ATTORNEY PRESENT TO PROTECT YOUR INTEREST AND PROVIDE LEGAL ADVICE!

Whether you are the target of an investigation by a state or federal law enforcement agency or you have been formally arrested and charged, there are important step you can take to protect your rights, freedom and reputation. Police officers and detectives know that they have a distinct advantage when dealing with an unrepresented arrestee who might have only a limited understanding of his or her rights. Damaging admissions or inconsistent statements often become key components in a prosecutor s case. If you refuse to speak with the police and immediately assert your rights to have an attorney present, this is the best way to protect your future. When you are represented by legal counsel prior to charges being filed, your lawyer can protect your interest during interrogations, searches, lineups and other aspects of the pre-charge investigation process.

Criminal defense lawyer David L. Freidberg recognizes that experiencing the cold steel of handcuffs around your wrist can be one of the most disturbing and disruptive experiences you can face. Whether you are charged with a misdemeanor or a felony offense, your liberty, reputation, financial security and driving privileges may be placed in immediate jeopardy. The impact of the terms of sentencing on your life can be compounded by adverse effects on your career, family, education and immigration status.

Successfully Defending People Charged with Serious Crimes in Chicago for Two Decades

Cook County criminal defense attorney David L. Freidberg provides extensive legal expertise and skill in challenging prosecutors in state and federal courts based on defending those charged with serious criminal offenses for over two decades. Mr. Freidberg s success in obtaining positive results for his clients while demystifying the criminal process has earned our law firm a wide range of accolades that including the following designations by AVVO, which rates every attorney across the nation:

Rating of Excellent
Clients Choice in 2015
Criminal Defense Featured Attorney

Chicago criminal attorney David L. Freidberg is firmly committed to the principle that every person deserves the most tenacious defense of his or her rights and liberty. He carefully scrutinizes every aspect of his clients cases from the initial contact with law enforcement, so he can identify violations of his clients constitutional rights and exculpatory evidence.

Mr. Freidberg also understands that people typically have a barrage of questions when they are dealing with the criminal justice system. While the criminal process can be daunting, our goal is to explain your rights, potential penalties, defenses and the process in clear straightforward language. A greater understanding of the criminal justice system can demystify the court process and minimize an accused s apprehension and confusion. Mr. Freidberg provides the information you need to make you an effective partner in the legal process and enable you to make informed decisions.

Committed to Your Success Get a Free Consultation Today

Innovative and Proven Defense Strategies

While there are many factors that must be considered when determining the best defense strategies in your case, Mr. Freidberg often uses private investigators, forensic experts and other resources to conduct a thorough investigation of the underlying facts. This careful scrutiny of the evidence, law enforcement procedures and facts ensures that our law firm can build an effective defense whether it is in pursuit of the dismissal of charges, an acquittal or a favorable plea agreement. Although many criminal cases ultimately are resolved by a plea agreement that keeps clients out of jail or prison and even prevents a permanent record of conviction, Mr. Freidberg diligently investigates the facts and researches applicable legal issues in preparation for a criminal trial. Our philosophy is that the best plea negotiations are based on preparing a winning trial strategy that will increase the risk for the prosecutor to take the case to a jury. Our law firm carefully crafts our approach to the unique facts of a case, but some of the defenses we might utilize when fighting for your freedom include:

  • Seeking suppression of evidence seized during an unlawful search or detention
  • Moving for exclusion of illegally obtained confessions or incriminating statements
  • Challenging suggestive lineups
  • Attacking the credibility or reliability of government witnesses
  • Exposing racial bias and inappropriate racial and ethnic profiling
  • Establishing the prosecutor failed to prove every element of the offense beyond a reasonable doubt
  • Exposing contamination of forensic evidence
  • Revealing shoddy lab work
  • Proving a break in the chain of custody
  • Revealing stops based on insufficient evidence
  • Arguing that the accused did not have the requisite intent

Whether you are facing your first criminal prosecution or potential status as a habitual offender, an experienced Chicago criminal lawyer can make the difference between going home to your family and spending months or years in jail or the penitentiary. Although some people consider working with a public defender, Mr. Freidberg s defense of your case is not compromised by the limits in public funding and heavy caseloads that can hinder a court appointed attorney. While public defenders might be skilled and conscientious, they are often burdened by massive caseloads that make it difficult to meet and discuss your case. They might also have more limited financial resources to devote to forensic experts and expensive testing.

Persuasive Criminal Defense to the Full Spectrum of Criminal Offenses

Because Mr. Freidberg has provided effective criminal defense to hundreds upon hundreds of people accused of criminal offenses during his 20 years as a criminal defense lawyer, he is qualified to handle all types of crimes, such as:

The criminal justice system is oppressive and unforgiving, so you should not settle for anything less than a Chicago criminal defense lawyer with an unwavering commitment to your interest and the experience to take on seasoned prosecutors. Our law firm is ready to prepare your case for trial and fight tooth and nail for your future.

Speak with an Experienced Criminal Defense Lawyer Today!

Regardless of whether you elect to contact our criminal defense law firm, you should not discuss your criminal case with anyone other than your criminal defense attorney. Mr. Freidberg understands your concerns, and he is prepared to ferociously fight for you liberty and future. If you have been charged with any type of offense ranging from a misdemeanor to a violent felony, we invite you to talk to us to learn how we can help. Attorney David Freidberg is prepared to seek the best possible outcome for his clients whether pursuing a diversion option like deferred prosecution or trying a case to a jury. The Law Offices of David L. Freidberg, P.C. takes pride in being available by phone 24 hours a day, seven days a week. Call us at 312-560-7100 or contact us online today for a free, no-obligation initial consultation.


National Mortgage Servicing Company Will Pay $63 Million to Settle FTC, CFPB Charges #easy #mortgage


#greentree mortgage company

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National Mortgage Servicing Company Will Pay $63 Million to Settle FTC, CFPB Charges

The FTC and CFPB allege that Green Tree Servicing LLC made illegal and abusive debt collection calls to consumers, misrepresented the amounts people owed, and failed to honor loan modification agreements between consumers and their prior servicers, among other charges.

Under the proposed settlement, Green Tree will pay $48 million to affected consumers and a $15 million civil penalty. The company also will stop its alleged illegal practices, create a home preservation plan for some distressed homeowners, and take rigorous steps to ensure that it collects the correct amounts from consumers.

“It’s against the law for a loan servicer to lie about the debts people owe, or threaten and harass people about their debts,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “Working together, the FTC and CFPB are holding Green Tree responsible for mistreating homeowners, including people in financial distress.”

Green Tree has become the servicer for a substantial number of consumers who were behind on their mortgage payments at the time their loans were transferred to Green Tree. Because homeowners cannot choose their servicer, they are locked into a relationship with the company for as long as it services their loans.

Illegal Debt Collection Practices

According to the FTC and the CFPB, Green Tree’s collectors called consumers who were late on mortgage payments many times per day, including at 5 a.m. or 11 p.m. or at their workplace, every day, week after week, and left many voicemails on the same day. They also unlawfully threatened consumers with arrest or imprisonment, seizure of property, garnishment of wages, and foreclosure, and used loud and abusive language, including calling consumers “deadbeats,” mocking their illnesses and other struggles, and yelling and cursing at them. The company also allegedly revealed debts to consumers’ employers, co-workers, neighbors, and family members, and encouraged them to tell the consumers to pay the debt or help them pay it. The complaint also alleges that Green Tree took payments from some consumers’ bank accounts without their consent.

The agencies also allege that Green Tree pressured consumers to make payments via Speedpay, a third-party service that charges a $12 “convenience” fee per transaction, claiming it was the only way to pay, or that consumers had to use the service to avoid a late fee.

Mishandled Loan Modifications and Delayed Short Sale Requests

According to the complaint, in many instances, Green Tree failed to honor loan modifications that were in the process of being finalized when consumers’ loans were transferred from other servicers to Green Tree. This resulted in consumers making higher monthly payments, receiving collection calls, and even losing their homes to foreclosure. Green Tree also allegedly misled consumers about their loss mitigation options. The company told some consumers who were behind on their mortgages that they needed to make a payment to be considered for a loan modification, even for programs that prohibited the company from requiring up-front payments. In addition, Green Tree took up to six months to respond to consumers’ short sale requests despite telling them it would respond much more quickly. These delays caused consumers to lose potential buyers, miss other loss mitigation options, and face foreclosures they could have avoided.

Misrepresented Account Status to Consumers and Credit Reporting Agencies

According to the complaint, Green Tree misrepresented the amounts consumers owed or the terms of their loans. This included telling consumers they owed fees they did not owe, or that they had to make higher monthly payments than their mortgage contracts required. The company often knew or had reason to believe that specific portfolios of loans it acquired from other servicers contained unreliable or missing information. In many instances, it should have known that consumers had loan modifications from prior servicers and therefore owed lower amounts. And when consumers disputed the amounts owed or terms of their loans, Green Tree failed to investigate the disputes before continuing collections.

Green Tree also allegedly furnished consumers’ credit information to consumer reporting agencies when it knew, or had reasonable cause to believe, that the information was inaccurate, and failed to correct the information after determining that it was incomplete or inaccurate – often when consumers told Green Tree about it.

Proposed Settlement Order

In addition to the $63 million in monetary payments, the proposed settlement order includes provisions that require Green Tree to:

  • establish and maintain a comprehensive data integrity program to ensure the accuracy and completeness of data and other information about consumers’ accounts, before servicing them;
  • cease collection of amounts disputed by consumers until Green Tree investigates the dispute and provides consumers with verification of the amounts owed;
  • meet certain loan servicing requirements to ensure that whenever Green Tree is involved in the sale or transfer of servicing rights, the buyer or transferee will honor loss mitigation agreements and properly review outstanding loss mitigation requests;
  • ensure that it has enough personnel and the technical capacity to handle loss mitigation requests and respond to consumer inquiries in a timely fashion, and make its loss mitigation application available to consumers at no cost and on its website;
  • implement a “Home Preservation Requirement” to provide loss mitigation options to consumers whose loans were transferred to Green Tree during the time period covered by the complaint; and
  • obtain substantiation for any amounts collected when consumers have in-process loan modifications, and for purported amounts due when there is reason to believe a newly transferred loan portfolio is seriously flawed.

The proposed order also prohibits Green Tree from making material misrepresentations about loans, processing procedures, payment methods, and fees, from taking unauthorized withdrawals from consumer accounts, and from violating the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, and the Real Estate Settlement Procedures Act.

The Commission vote authorizing the staff to file the complaint and proposed stipulated order was 5-0. The FTC filed the complaint and proposed stipulated order in the U.S. District Court for the District of Minnesota.

NOTE: The Commission files a complaint when it has “reason to believe” that the law has been or is being violated and it appears to the Commission that a proceeding is in the public interest. Stipulated orders have the force of law when approved and signed by the District Court judge.

To learn more, read Making Payments to Your Mortgage Servicer and Debt Collection .

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook. follow us on Twitter. and subscribe to press releases for the latest FTC news and resources.

Contact Information

MEDIA CONTACT:
Frank Dorman
Office of Public Affairs
202-326-2674