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» VISIT US ONLINE @ DSNEWS.COM 139 that during a period of about two and a half years, Franklin Loan paid out quarterly bonuses to 32 loan officers on the basis of the interest rates of the loans closed during a given quarter. e amount of bonuses paid totaled at least $730,000, and the loan officers were given higher bonuses for higher interest rates on the loans closed. According to the CFPB, more than 1,400 borrowers were affected. e CFPB's investigation found Franklin Loan's actions of paying bonuses to employ- ees based on interest rates to be in violation of the Federal Reserve Board's Loan Origina- tor Compensation Rule, which prohibits mortgage lenders from compensating its loan officers according to loan terms, such as interest rates. "Today's action will put $730,000 back in the pockets of consumers who may have never suspected that they had been harmed," CFPB Director Richard Cordray said. "Pay- ing bonuses for steering borrowers into more expensive loans violates their trust and is against the law." According to the CFPB, the Bureau has requested a federal district court to approve a consent order that would require Franklin Loan to stop illegally compensating employees and refund the money to affected consumers. Franklin Loan has agreed to end the practice of paying bonuses to loan officers based on interest rates of the loans closed and will pay $730,000 in refunds to consumers who paid higher interest rates as a result of the practice.and product marketing at CoreLogic. "Our new solution can quickly—and less expensively—help clients identify loans for various types of treatments, including modifications and write-downs, and deliver an updated risk profile at both the portfolio and loan levels." Colorado RANK: 50 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate SEPTEMBER 2014 1.04% 0.53% 4.1 YEAR AGO 1.40% 0.67% 6.3 YEAR-OVER-YEAR CHANGE -25.2% -21.2% -2.2 Top County LAS ANIMAS COUNTY 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 1.72% 2.31% YEAR AGO 2.71% 2.40% YEAR-OVER-YEAR CHANGE -36.5% -4.0% Top Core-Based Statistical Area 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 YEAR AGO YEAR-OVER-YEAR CHANGE note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary September 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Hawaii RANK: 4 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate SEPTEMBER 2014 1.89% 3.74% 4 YEAR AGO 2.12% 5.26% 4.7 YEAR-OVER-YEAR CHANGE -10.8% -28.9% -0.7 Top County HAWAII COUNTY 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 2.24% 6.60% YEAR AGO 2.42% 9.38% YEAR-OVER-YEAR CHANGE -7.3% -29.7% Top Core-Based Statistical Area HILO, HI 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 2.24% 6.60% YEAR AGO 2.42% 9.38% YEAR-OVER-YEAR CHANGE -7.3% -29.7% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary September 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Idaho RANK: 29 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate SEPTEMBER 2014 1.18% 1.17% 3.9 YEAR AGO 1.48% 1.87% 5.7 YEAR-OVER-YEAR CHANGE -20.4% -37.4% -1.8 Top County GEM COUNTY 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 1.28% 3.05% YEAR AGO 2.06% 2.80% YEAR-OVER-YEAR CHANGE -37.8% 9.1% Top Core-Based Statistical Area BURLEY, ID 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 2.29% 2.10% YEAR AGO 1.52% 3.30% YEAR-OVER-YEAR CHANGE 50.8% -36.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary September 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Montana RANK: 37 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate SEPTEMBER 2014 1.04% 0.84% 4.3 YEAR AGO 1.09% 1.05% 5.4 YEAR-OVER-YEAR CHANGE -4.6% -20.3% -1.1 Top County LINCOLN COUNTY 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 1.72% 2.20% YEAR AGO 1.32% 1.81% YEAR-OVER-YEAR CHANGE 30.5% 21.8% Top Core-Based Statistical Area BUTTE-SILVER BOW, MT 90+ Day Foreclosure Delinquency Rate Rate SEPTEMBER 2014 1.32% 1.22% YEAR AGO 1.45% 1.28% YEAR-OVER-YEAR CHANGE -8.9% -4.6% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary September 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Los Angeles had the second-highest total of housing flips among U.S. metro areas in Q3 2014 with 1,170, behind only Miami (1,190), according to RealtyTrac. KNOW THIS