The Consumer Financial Protection\nBureau received a settlement on behalf of consumers for the amount of $1.275\nmillion in their lawsuit against the Specialized Loan Servicing (SLS), a\nColorado based mortgage loan servicer. In 2014, the CFPB discovered that SLS\nhas breached Real Estate Settlement Procedures Act (RESPA) and Regulation X. In\nthis case, each of these were violated by the SLS as they were taking forbidden\nforeclosure actions against mortgage borrowers who initially had protection\nfrom being foreclosed on. This is also a violation to The Consumer Financial\nProtection Act of 2010. Consumers who were victims of these practices will\nreceive a collective $750,000 in restitution.<\/p>\n\n\n\n
Do you feel that you are a victim of\nforeclosure fraud? Contact our offices at 816-524-4949 or visit our website at\nHoorfarlaw.com to schedule an appointment to speak to one of our attorneys\ntoday.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Consumer Financial Protection Bureau received a settlement on behalf of consumers for the amount of $1.275 million in their lawsuit against the Specialized Loan Servicing (SLS), a Colorado based mortgage loan servicer. In 2014, the CFPB discovered that SLS … Continue reading