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Two big banks were closed by regulators in recent days. Yesterday saw Guaranty Bank (BestBank in some states) shut down by the federal Office of the Comptroller of the Currency. Just days before that, however, an even bigger bank was shut down, First NBC Bank. Based in New Orleans, the bank had $5 billion in assets on its books.
Ocwen was one of the largest mortgage servicers in the United States. Millions of homeowners mail their mortgage payments to the company each month. If you are simply mailing in your payment and are never a day late, chances are won’t encounter a problem. Request a modification, try to make a pre-payment, or have an issue with escrows and you likely fall into a black hole.
Dan Gilbert is a household name in Detroit. He has poured millions of dollars into the Motor City in the hopes that it can once again be a vibrant city. How he got the money to fund his ambitious redevelopment plan and how he operates the mortgage company he founded is a different story. The government claims his company, Quicken Loans, bullied appraisers and underwriters to fu ...
Inspectors from the U.S. Food and Drug Administration (FDA) have a tough and thankless job. They are the unsung heroes that make sure the food we eat and the drugs we take are safe. Tens of millions of Americans take prescription or over the counter healthcare products daily. When we open our medicine cabinets in the morning, most of us take for granted that the drugs we take a ...
According to the Inspector General of the U.S. Department of Health and Human Services, Medicare paid out in 2012 and 2013 approximately $1.4 billion for chiropractic services. Based on prior 2006 audit, the government decided to revisit chiropractic care to see if these services were being properly billed.
A federal judge in Missouri gave a green light to a lawsuit filed by customers and potential customers of Costco. The judge ruled that the recipients of junk faxes from Costco could proceed on their claims as a class action. The ruling is a big victory for victims of junk faxes and robo telemarketing calls.
Another bank closed its doors today. Guaranty Bank, based in Glendale, Wisconsin, is no more. At precisely 5:00 pm, regulators closed the bank. With 119 branches in 5 states, only 12 will reopen in the morning. The rest are gone for good. Guaranty Bank’s woes began shortly after the real estate market crashed in 2008. Within a year of the crash, the bank was hurting.
The title of this page says it all – “Ocwen Fraud.” Never have we encountered a mortgage loan servicer with so many problems. Problems that can only be described as fraud. We have spoken with dozens of homeowners as well as a few present and former Ocwen workers. The company is a failure and needs to be held accountable. Immediately.
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