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In late July, the Justice Department notified the Houston bank of a potential lawsuit alleging violations between 2013 and 2017, according to a securities filing. Cadence said that its prospective merger partner, BancorpSouth, supports the settlement discussions.
August 2 -
The department’s antitrust division said Thursday that it was withdrawing from the November 2020 agreement because its terms prevent the division from continuing to investigate association rules that may harm homebuyers and sellers.
July 2 -
The Michigan lender agreed in 2012 to pay $133 million to resolve civil fraud charges tied to government-backed mortgages. But the deal with the Justice Department came with a catch that eventually allowed Flagstar to pay far less.
April 15 -
The three companies agreed to pay a total of $74 million in remediation.
December 7 -
If the underwriters' option is exercised, proceeds will bring in $112 million instead of a possible $176 million.
October 22 -
The accusations against Nutter Home Loans, like an earlier settlement with the Department of Housing and Urban Development, center on concerns related to FHA-insured reverse mortgages. The company "strongly disputes" them.
September 30 -
Through Operation Corrupt Collector, the bureau is coordinating with over 50 other state and federal agencies to target firms for wrongdoing and inform consumers of their rights
September 29 -
Citing possible exploitation, Bank of America instituted a policy that put limits on loans to persons in guardianship. It later ended the policy.
July 24 -
Finance of America Reverse agreed to pay $2.5 million to settle allegations that a company it acquired violated the False Claims Act for loans submitted for Federal Housing Administration insurance in 2010.
April 2 -
The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.
March 9