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Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Livinglies's Weblog

Editor’s Note:  Today Housingwire.com published an article that the CFPB is investigating Ocwen while an article posted the same day about a housing advocacy group praises Ocwen as, “an example of how servicers help to keep borrowers in their homes.”  These conflicting stories demonstrate why homeowners are not obtaining relief as investors, servicers and governmental entities pursue their own interests to take advantage of the foreclosure crisis.


By Ben Lane at Housingwire

A consortium of housing advocacy groups is calling on the U.S. Department of the Treasury, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau to investigate “pro-foreclosure campaigns,” which the groups say are being perpetrated by “Wall Street giants including the largest hedge funds, mortgage bond traders, and insurance companies.”

In a letter addressed to Treasury Secretary Jack Lew, FHFA Director Mel Watt, CFPB Director Richard Cordray, the groups say they are “concerned…

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