FTC Proposing Loan-Mod Upfront Fees

05 Feb 2010

The Federal Trade Commission has proposed a rule that would bar companies from charging upfront fees for modifying loans.

The Federal Trade Commission has proposed a rule that would bar companies from charging upfront fees for modifying loans. The proposed rulemaking, which will appear in the Federal Register, would also require loan modification providers to inform consumers that they are for-profit business, the total amount consumer would ...

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