April 21, 2015

National mortgage servicing company Green Tree Servicing LLC agreed to pay $63 million to resolve FTC charges that it harmed homeowners with illegal loan servicing and debt collection practices. The FTC alleged that Green Tree made illegal and abusive debt collection calls to consumers, misrepresented the amounts people owed, and failed to honor loan modification agreements between consumers and their prior servicers, among other charges. Green Tree has also agreed to create a home preservation plan for some distressed homeowners and take rigorous steps to ensure that it collects the correct amounts from consumers. FTC

Tagged in: Housing and Mortgage Fraud,