NAR: Acting Director Mulvaney, Panelists Discuss Future of the CFPB and Real Estate Regulatory Policy

WASHINGTON, May 15, 2018 /PRNewswire/ -- The Bureau of Consumer Financial Protection plans to eliminate regulation by enforcement and increase regulatory clarity, according to speakers at the Regulatory Issues Forum at the 2018 REALTORS® Legislative Meetings & Trade Expo. The high-profile session, keynoted by CFPB Acting Director Mick Mulvaney, focused on regulatory policy concerns important to the real estate industry. During his remarks, Mulvaney addressed the latest actions out of the CFPB, plans for improved efficiency and effectiveness of agency operations, and his perspectives on issues important to Realtors®.

LendingTree, Inc. Announces Agreement to Acquire Ovation Credit Services

CHARLOTTE, N.C., May 11, 2018 /PRNewswire/ -- LendingTree, Inc. (NASDAQ: TREE) announced today that it has entered into a definitive agreement to acquire Ovation Credit Services, Inc., a leading provider of credit services with a strong customer service reputation. Ovation Credit Services utilizes a proprietary software application that facilitates the credit repair process and is integrated directly with certain credit bureaus while educating consumers on credit improvement via ongoing outreach with Ovation case advisors.

PenFed Launches Major Sponsorship of Washington Nationals

TYSONS, Va., May 15, 2018 /PRNewswire/ -- PenFed Credit Union, the nation's second largest federal credit union, today announced it has signed a unique and expansive sponsorship deal with the Washington Nationals Major League Baseball team. The new three-year agreement will expand upon a previous sponsorship and will designate a new, special area as "PenFed Military Appreciation Section" at Nationals Park.

One thing you can do to take control of the homebuying process and save on your new home—in any housing market

Homebuying season is in full swing. If you’re a homebuyer or prospective homebuyer, it can feel like a bit of a rollercoaster at times, especially in the current market of rising home prices and a low inventory of homes for sale. But, there’s one thing you can do to put yourself more in the driver’s seat—and it has the potential to save you real money on your home purchase: Shop for your mortgage.

FTC Action Halts Deceptive Business Coaching Scheme

The Federal Trade Commission has charged two Utah individuals and their telemarketing operation with deceptively claiming their business coaching services can help consumers start home-based businesses that earn thousands of dollars a month.

CONSUMER AND GOVERNMENTAL AFFAIRS BUREAU SEEKS COMMENT ON INTERPRETATION OF THE TELEPHONE CONSUMER PROTECTION ACT IN LIGHT OF THE D.C. CIRCUIT’S ACA INTERNATIONAL DECISION

With this Public Notice, we seek comment on several issues related to interpretation and implementation of the Telephone Consumer Protection Act (TCPA),1 following the recent decision of the U.S. Court of Appeals for the District of Columbia in ACA International v. FCC.2

Convoke Adds Complaints Management Feature to its Platform

ARLINGTON, Va., May 14, 2018 /PRNewswire/ -- Convoke, a leader in SaaS solutions for the debt collection market, today announced the most recent software update to its debt collections compliance and management hub. Each year, Convoke develops and releases several updates to its platform to support its clients' evolving needs. This latest major release includes the introduction of Convoke's consumer complaints management feature, and the expansion of its auto repossession functionality.

CFPB: What to know if you are facing foreclosure after a natural disaster

Many people are still suffering the consequences of natural disasters. For example, in 2017 there was Hurricane María in Puerto Rico, Hurricane Harvey in Texas, Hurricane Irma in Florida, and the devastating wildfires in California. Even after immediate needs like shelter and food are met, financial hardships from a disaster can last for months and even years. It’s important for people to know the federal government programs and services available to them, especially housing-related assistance, as they work to rebuild.

Cadence agrees to buy State Bank in $1.4 billion all-stock deal

Cadence Bancorp said on Sunday it had agreed to buy State Bank Financial in an all-stock deal valued at about $1.4 billion, signaling a potential rise in regional bank consolidation in the United States. The agreement, approved by the boards of both banks, will create an entity with $16 billion in assets and about 100 branches in Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas, the banks said in a press release.

Attorney General Frosh Settles with Nationstar Mortgage LLC, the Largest Non-Bank Mortgage Servicer

BALTIMORE, MD (May 14, 2018) - Maryland Attorney General Brian E. Frosh announced today that his Consumer Protection Division and the Commissioner of Financial Regulation entered into settlement agreements with Nationstar Mortgage LLC to resolve allegations that it charged homeowners illegal inspection fees.

CallMiner Eureka Named Best Speech Analytics Solution and a Top 10 Contact Center Technology

Waltham, MA, May 14, 2018 (GLOBE NEWSWIRE) -- CallMiner, the award-winning platform provider of speech and customer engagement analytics, announced today that Eureka 10, the post-contact interaction analytics suite, has been recognized as Best Speech Analytics Solution in the Top 10 Contact Centre Technologies of 2018. The awards, run annually by Call Centre Helper, recognize the best contact center technologies available globally. The Top 10 is created by customer votes, making these the most impartial of all the contact center technology awards. Eureka 10 was recognized for being intuitive and user-friendly with the intent of making customers more self-sufficient and less reliant on professional services to drive their own analytics success.

FCC ISSUES $120 MILLION FINE FOR SPOOFED ROBOCALLS

WASHINGTON, May 10, 2018—The Federal Communications Commission today fined Adrian Abramovich $120 million for malicious spoofing that was part of his massive robocalling operation aimed at selling timeshares and other travel packages. The caller ID spoofing operation made almost 100 million spoofed robocalls over three months. The Truth in Caller ID Act prohibits callers from deliberately falsifying caller ID information with the intent to harm or defraud consumers or unlawfully obtain something of value.

BCFP Reorganizes Student Loan Division

The Bureau of Consumer Financial Protection announced May 9 that it is combining its student loan office with the financial education division. It also released its Spring 2018 Unified Agenda of Regulatory and Deregulatory Actions without mention of student loan servicing initiatives.

LendingTree’s Consumer Debt Outlook Finds Americans On Pace to Amass a Collective $4 Trillion in Consumer Debt by the End of 2018

CHARLOTTE, N.C., May 10, 2018 /PRNewswire/ -- LendingTree®, the nation's leading online loan marketplace, today released its first Consumer Debt Outlook for May 2018. LendingTree's analysis of the latest Federal Reserve data found that despite a recent pause in credit card balance increases, Americans are on pace to amass a collective $4 trillion in consumer debt by the end of 2018. Collectively, Americans owe more than 26 percent of their income on consumer debt, up from 22 percent in 2010.

New York State Cracks Down on Reverse Mortgage Foreclosures

The state of New York this month enacted a law that requires reverse mortgage lenders to provide more detailed warnings to borrowers potentially facing foreclosure. Under the new regulation, which Gov. Andrew Cuomo signed in April, lenders must alert Home Equity Conversion Mortgage borrowers 90 days before they intend to start a legal foreclosure action.

Nationwide Skip Experts Make Monumental Partnership with masterQueue powered by Intellaegis

Dallas, Texas - Nationwide Skip Experts (NSE) recently deployed masterQueue, an enterprise level skip tracing software, across their organization. Since deployment of the software, NSE has seen a dramatic increase in productivity and bottom line results. NSE has already seen record breaking statistics and expects to continue raising the bar with exceptional customer service and performance.

PRA Group Reports First Quarter 2018 Results

NORFOLK, Va., May 09, 2018 (GLOBE NEWSWIRE) -- PRA Group (Nasdaq:PRAA), a global leader in acquiring and collecting nonperforming loans, today reported its financial results for the first quarter of 2018. The Company reported diluted earnings per share of $0.47 compared to $1.03 in the first quarter of 2017. The first quarter of 2017 included a net, after-tax gain of approximately $27 million on the sale of the Government Services business.

Federal Reserve Consumer Credit Report

Consumer credit increased at a seasonally adjusted annual rate of 4-1/4 percent during the first quarter. Revolving credit decreased at an annual rate of 1 percent, while nonrevolving credit increased at an annual rate of 6 percent. In March, consumer credit increased at an annual rate of 3-1/2 percent.

CFPB Spring 2018 Community Bank Advisory Council meeting in Washington, D.C.

Join us for a Community Bank Advisory Council (CBAC) meeting in Washington, D.C., about the Home Mortgage Disclosure Act (HMDA) and several of the Bureau's Requests for Information (RFI).

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