BALTIMORE, MD—The Maryland Department of Labor’s Office of the Commissioner of Financial Regulation on Thursday announced the extension of a moratorium on new residential foreclosures through February 28, 2021. The moratorium, originally established by the Governor’s executive order issued April 3, 2020 and continued through subsequent executive orders, was due to expire on January 31, 2021. “Thank you to the […]
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Tuesday announced that the Securities Division has entered into an $18 million settlement with RBS Financial Products, Inc., a subsidiary of the Royal Bank of Scotland. The Consent Order resolves claims that RBS misled investors in its issuance and underwriting of financial crisis-era residential mortgage-backed securities (RMBS). “RBS issued and underwrote residential […]
BALTIMORE, MD—The Maryland Department of Labor’s Office of the Commissioner of Financial Regulation on Monday announced that it had concluded a multi-year investigation of one of the nation’s top ten largest mortgage servicing companies, Nationstar Mortgage LLC, which does business as Mr. Cooper. After a nationwide investigation revealed multiple violations of law and procedural deficiencies, Nationstar has cooperated and agreed […]
BALTIMORE, MD—The Office of the Attorney General on Monday warned of a new scam circulating throughout Maryland. “The Office of the Attorney General has recently been notified of scams involving individuals impersonating mortgage companies. Some of these scammers are calling existing customers of a mortgage company, claiming to be representatives of that company, and offering the customer a loan modification. […]
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh announced on Tuesday that the Securities Division entered into a $20 million settlement with Wells Fargo & Company. The Consent Order resolves financial crisis-era claims that Wells Fargo misled investors in its issuance of residential mortgage-backed securities (RMBS). The $20 million settlement is the largest reached by a state for Wells Fargo’s financial-crisis […]
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Friday joined a bipartisan coalition of 26 attorneys general in calling on the U.S. Department of Housing and Urban Development (HUD) to take immediate action to protect senior citizens from homelessness as a result of the COVID-19 pandemic. In a letter sent to HUD Secretary Ben Carson, the coalition recommends specific actions […]
BALTIMORE, MD—Maryland Attorney General Brian E. Frosh this week joined a bipartisan coalition of 35 attorneys general in sending letters to the Federal Housing Finance Administration (FHFA) and the Department of Housing and Urban Development (HUD) recommending actions to help homeowners in the wake of the COVID-19 pandemic. The coalition applauded federal efforts to suspend evictions and foreclosures, as well […]
BALTIMORE, MD—In collaboration with Maryland’s financial institutions, Governor Larry Hogan on Friday issued an Executive Order and announced a series of financial relief initiatives to provide assistance to millions of consumers and small businesses who are facing economic hardships due to COVID-19. “As our state responds to this deadly public health emergency, Marylanders should not be worried about losing their […]