FTC orders Wealth Educators to halt mortgage relief services

– The Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and 15 states announced a sweep against foreclosure relief scammers that used deceptive marketing tactics to rip off distressed homeowners across the country. The Bureau is filing three lawsuits against companies and individuals that collected more than $25.

Fannie, Freddie align servicing guidelines for delinquent mortgages  · Washington, D.C. – Federal Housing Finance Agency Acting Director Edward J. DeMarco has directed Fannie Mae and Freddie Mac (the Enterprises) to align their guidelines for servicing delinquent mortgages they own or guarantee.

FTC Halts "Preferred" Mortgage Relief Scam. If you’re hiring a company to stop foreclosure or reduce your mortgage payments, here are some things to keep in mind:. If you’re the.

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The new effort comes as a key Republican lawmaker, House Financial Services Chairman Jeb Hensarling of Texas, said Wednesday he’s open to a government guarantee on some mortgage bonds. At stake is.

The Federal Trade Commission ordered Wealth Educators and its president to stop offering mortgage relief services since it was accused of failing to provide the help they promised homeowners.

REMN rebrands to HomeBridge Financial Services Freddie mac announced wednesday that it selected the winning bidders in the sale of more than $1 billion in non-performing loans that are currently being serviced by ocwen loan servicing, the.

FTC: Scam promised mortgage relief, did opposite. A company that calls itself Wealth Education allegedly taught numerous financially distressed homeowners an illegal and costly lesson, charging hefty upfront fees for mortgage relief services never rendered, while advising steps that left some facing foreclosure.

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Fortunately, the FTC stepped in, filing its complaint in April, which this month resulted in an $885,677 judgment against Los Angeles-based Wealth Educators and its owner, Veronica Sesma. They are also banned from selling debt relief services going forward.

The defendants also used websites allegedly set up by Veronica Sesma, the owner and president of Wealth Educators, to advertise the supposed mortgage relief services. Before providing any services, however, Wealth Educators charged consumers an up-front fee ranging from $1,000 to $5,000, promising the money would be fully refunded if the company didn’t provide the relief it promised.

FTC Seeks Quick Wins In Alleged Mortgage Relief Scam Row. By. or provide other services covered under the FTC’s Mortgage Assistance Relief Services Rule.. to the one-stop news source for.

supposedly offering mortgage relief services to Spanish-speakers – and helped get a consumer declaration. The FTC obtained a court order to halt the business and freeze the assets. A report from Arkansas Legal Aid led to a series of FTC undercover investigations and 11