DoJ

Barclays and the Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement, according to people with knowledge of the situation.

Most secondary market outlets, along with the non-qualified mortgage lenders, remain reluctant to lend to legal cannabis workers because of the source and nature of their compensation, but opportunities are beginning to emerge.

Cannabis businesses are legal in 29 states, but compliance questions on the federal level are keeping mortgage lenders from making loans to the industry's workers.

The Trump administration says it has put a stop to Operation Choke Point, a controversial initiative aimed at discouraging financial institutions from servicing high-risk businesses.

Critics of recent False Claims Act enforcement argue the Justice Department is too heavy-handed toward lenders and servicers. But in an industry reputed for shoddy processes during the crisis, perhaps stringent oversight is warranted.

PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on government-insured mortgages and loans sold to Fannie Mae and Freddie Mac.

The year opened with hopes that regulatory and enforcement pressures would abate for the mortgage industry. The reality has turned out quite differently.

If HSBC reaches an agreement with the government, it could give an early indication of how the Trump administration will levy financial penalties.

The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.

A former Nomura Holdings trader was found guilty of conspiring to lie to clients about mortgage-bond prices, while another was cleared of all charges in a verdict that highlights the challenge of policing fraud in the market.

Reverse mortgage lender Financial Freedom has agreed to pay $89 million to settle False Claims Act allegations involving unearned interest payments it received from the Federal Housing Administration.

Bank of America has completed its legal settlement obligation with the Department of Justice to provide $7 billion in consumer relief nearly two years ahead of schedule.

The Justice Department told a federal appeals court on Friday that President Trump should have the authority to fire the head of the Consumer Financial Protection Bureau.

The Justice Department plans to defend President Trump's executive authority by siding with PHH Corp. in the mortgage lender's controversial case alleging the Consumer Financial Protection Bureau is unconstitutional.