Flagstar to Pay $37.5 Million for Blocking Mortgage Borrowers’ Attempts to Save Their Homes
Washington, D.C. –(ENEWSPF)—September 29, 2014. Today the Consumer Financial Protection Bureau (CFPB) took action against Michigan-based Flagstar Bank for violating the CFPB’s new mortgage servicing rules by illegally blocking borrowers’ attempts to save their homes. At every step in the foreclosure relief process, Flagstar failed borrowers. The bank took excessive time to process borrowers’ applications for foreclosure relief, failed to tell…
