Author: John Senese

The story of the Raven and the dove is as old as the story of Noah and the flood.  It is found in the Torah and in Genesis 8:6 – 12.   Noah sent the Raven to circle and see if the waters were gone, and the Raven did not return, and so no one knew the water had receded. Noah then sent out the dove to see if there were any green things growing.  In the Bible, the Raven is an unclean bird, and the dove is a clean bird.

Anyway, there are no ravens in Chicago.  Only crows.   And crows eat other birds. Doves nest under the small bushes on our balcony window boxes. However, these skies of downtown Chicago are filled with Hawks, so the doves need to make sure they stay very still when they are nesting, and that they train their babies to fly very quickly, keeping them in the nest until they are large enough to fly away. We have not seen a Crow in downtown Chicago in 15 years.  But, just when the newborns, from a nest of doves, were about big enough to fly, guess who appeared?  The Crow.  And it is looking right at the doves’ nest.  The doves moved to the other side of the building. But, they did not move soon enough since there were two baby doves, now there is only one.  This is a pretty common problem, with crows and doves.

The Consumer Financial Protection Bureau (CFPB) filed suit against OCWEN, one of the nation’s largest nonbank mortgage companies.  The lawsuit was filed on April 20, 2017.  According to the lawsuit, OCWEN failed borrowers during the mortgage servicing process.  The Consumer Financial Protection Bureau’s Director, Richard Cordray said in a statement,

“Today the Consumer Financial Protection Bureau is filing a lawsuit against Ocwen, one of the nation’s largest nonbank mortgage servicers. We are seeking relief to compensate consumers for years of systemic and significant errors throughout the mortgage servicing process, which cost some of them their homes. We allege that Ocwen calculated loan balances improperly, misapplied borrower payments, and botched escrow and insurance payments. We believe Ocwen failed to properly investigate and fix these problems when people formally complained, and it illegally foreclosed on borrowers. And we believe Ocwen compounded these failures by selling the servicing rights to these loans without fully disclosing or correcting errors in people’s records.”

According to the lawsuit, OCWEN failed borrowers by:

• Serviced loans using error-riddled information
• Illegally foreclosed on homeowner by failing to deliver required foreclosure protections. As a result, it is alleged that OCWEN wrongfully initiated foreclosure proceedings on at least 1,000 people, and has wrongfully held foreclosure sales.
• Failed to credit borrowers’ payments.
• Botched escrow accounts by failing to properly apply escrow payment.
• Mishandled hazard insurance:
• Bungled borrowers’ private mortgage insurance
• Deceptively signed up and charged borrowers for add-on products
• Failed to assist heirs seeking foreclosure alternatives
• Failed to adequately investigate and respond to borrower complaints
• Failed to provide complete and accurate loan information to new servicers

The CFPB is requesting that OCWEN follow mortgage servicing laws and pay penalties.  You can read the lawsuit at the CFPB website: http://files.consumerfinance.gov/f/documents/20170420_cfpb_Ocwen-Complaint.pdf

April 6, 2017: “Very happy with the results, Thanks to Briana, she was always there to answer my questions. Thanks to her we have started a new chapter in our life.”

April 6, 2017: “I appreciate the help I have received from both Attorney’s that have helped me. Filing Bankruptcy is embarrassing to me, and they never once made me feel beneath them. Everyone here is great, and I am so glad I chose to come here to help me.”

April 5, 2017: “Love love love”

April 4, 2017: “I’ve had a very positive experience with Geraci Law. The attorneys that helped me were David and Liz. Both were very thorough in explaining the process. I would recommend Geraci Law to anyone who is having financial troubles, like myself. I am so thankful that they took the time to help me.”

April 4, 2017:  “The attorneys at Geraci Law are very kind and professional. They are understanding and listen to you problems. The hours are convenient and the service is great. I would definitely recommend Geraci Law to my friends.”

Read more reviews at: https://www.bbb.org/chicago/business-reviews/attorneys-and-lawyers/peter-francis-geraci-law-llc-in-chicago-il-36000434/reviews-and-complaints

The Consumer Financial Protection Bureau (CFPB) has been working on fixing data accuracy, repairing dispute processes and cleaning up information from data furnishers.

The director of the CFPB, Richard Cordray,  says,

“Since we began our oversight work, the CFPB has been uncovering and correcting problems in the consumer reporting industry, Because of our work, important improvements are being made. Much more work needs to be done but our corrective actions are leading to positive changes that are benefiting consumers all over the country.”

The main assistance to consumers maybe how consumer reporting companies are required to handle disputes.  According to the new policies, the consumer reporting agencies must maintain evidence that they accurately handled the disputes and conducted a reasonable investigation.  Also part of the dispute process is how consumers are notified of the completion of an investigation.  According to the CFPB,

“continued monitoring has shown that the consumer reporting companies have improved processes for investigating disputes and are improving response letters to consumers.”

The Fair Credit Reporting Act, more commonly known as the FCRA, requires an investigation into the consumer dispute and proper noticing to the consumer withing 30 days.

Although these are important milestones in correcting the credit reporting process, it doesn’t help individuals who suffered from bad credit scores due to poor reporting.  Geraci Law sees a lot of individuals who suffer from bad credit scores due to inaccurate reporting.  Unfortunately, a credit score still determines the cost of financing.  The difference in an average credit score and a good credit score means percentage points when financing a house or car.

You can learn more by visiting the CFPB site: https://www.consumerfinance.gov/about-us/newsroom/cfpb-oversight-uncovers-and-corrects-credit-reporting-problems/

March 27, 2017: “Geraci Law is friendly, prompt and very easy to talk to and understand. I felt very uneasy when I got here originally but I now feel very comfortable knowing this is going to be the best thing for my future.”

March 27, 2017: Joe Blaha was very helpful. I would recommend him to anyone needing to file bankruptcy. He made me feel very comfortable with the process.

March 27, 2017:  “The Evergreen Park office was very friendly. This was my first time filing bankruptcy and was nervous coming in. The staff put me at ease.”

March 27, 2017:  “I referred my son to come see you guys. I liked attorney Mariuz, he really did my case right!”

March 27, 2017:  “The attorneys have been very helpful and clear. Overall, we have received great service and advice.”

March 20, 2017:  “I was very pleased with the service at Geraci .My Lawyer W. Mok was very efficient and professional . He was also very Friendly”

March 20, 2017:  “Chad is really a good person. He made me feel at ease. I thought about filing at another firm, but when I met Chad, I knew he was the right attorney to help me out.”

March 20, 2017: “They are really the best at what they do. Nothing but positive results. Really good professional people.”

March 14, 2017: “They helped me so much in the 63rd St office. I needed my case filed the same day and Anna, Steve, Frank, and David came through. They work hard and they got it done.”

March 9, 2017:  “I truly feel the Peter Geraci and his attorneys are professional and people concerned about their clients. I would recommend them to anyone in my situation and couldn’t be happier with the work they did.”

March 9, 2017: “Process of Bankruptcy was very smooth. Attorney Jason A Kara is so helpful. I so recommend filing if you’re in debt.”

March 9, 2017:  “Geraci service was very professional Lisa L. Haley was very professional to work with she explained everything to me in details that was taking place in my case and what to expect I would recommend Geracl Law for your bankruptcy needs quick and easy. Good company to deal with.”

March 8, 2017: “Jason was so easy going, professional, informative, and kind. He has made the process so much easier than I thought it might be. I highly recommend seeing Jason Nielson for your service!”

March 8, 2017: “Wylie took the time and had the patience to explain everything to me fully and describe all my options. I feel like a heavy weight has been lifted off my shoulders and its been a pleasure working with Wylie”

At the end of each month the Consumer Financial Protection Bureau (CFPB) posts statistics about the most common complaints for the prior month.  Not surprising is that debt collection calls remain are the most common complaint the CFPB receives.

According to the CFPB,

“For January 2017, debt collection was the most-complained-about financial product or service. Of the approximately 29,000 complaints handled in January, there were 7,730 complaints about debt collection. The second most-complained-about consumer product was student loans, which accounted for 5,389 complaints. The third most-complained-about financial product or service was credit reporting, accounting for 4,620 complaints.”

According to CFPB statistics, one in four consumers felt threatened by debt collectors.  According to the Fair Debt Collection Act (FDCA), debt collection agencies are required to stop contacting debtors upon proper request.  However, a majority of Debt Collection Agencies violate the provisions of FDCA.

Geraci Law L.L.C. knows how difficult debt collectors can be, especially payday loan stores.  Do you have problems with debt?  The Peter Francis Geraci Law Bankruptcy and Injury offices can help you consolidate, negotiate or eliminate your debt.  Call 1-800-CALL-PFG to speak to a counselor for immediate assistance.

March 1, 2017: “I was very impressed with how quickly Ann Kramer helped me filed my case. I am very satisfied with Geraci Law.”

March 1, 2017: “We were so worried about filing bankruptcy but Abraham made it simple and easy. We are so grateful to Geraci Law for making a difficult process easy and painless.”

February 28, 2017: “Almost 2yrs after my discharge, something came out of nowhere and needed to be handled asap. Geraci responded. Problem solved and no extra fees.Whew!”

February 28, 2017: “Joe **** and Robert **** both handled my case excellently and answered all my questions. Felicia ****** was also great and helped me when I came pay off my balance in full. Thank you Geraci Law!”

February 28, 2017: “I really enjoyed working with Cecil to get my case filed. He took his time to explain everything to me. He was very kind and wonderful throughout.”