Business

Attorney General Frosh announces $18 million settlement with RBS Financial Products

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 …


Business

Maryland announces settlement with Nationstar Mortgage A.K.A. Mr. Cooper

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 …


SCAM ALERT: Attorney General says phony mortgage company reps targeting Maryland residents

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. …

Attorney General Frosh announces $20 million settlement with Wells Fargo

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 …

Attorney General Frosh calls on HUD to protect seniors’ homes during pandemic

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 …

Attorney General Frosh urges federal housing officials to help homeowners affected by COVID-19

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 …

Governor Hogan announces financial relief initiatives for Marylanders, small businesses [VIDEO]

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 …

Governor Hogan prohibits mortgage lenders from initiating foreclosure process during COVID-19 pandemic

UPDATE: Click here for a full summary and video from Governor Hogan’s Friday press conference. Original story below… —— ANNAPOLIS, MD—Governor Larry Hogan held a press conference on Friday afternoon outlining additional steps the state of Maryland would take to assist Maryland residents during the coronavirus pandemic. Governor Hogan is issuing an emergency order to provide additional and immediate financial …