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 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.
Financial firms say the database is unreliable and would like to see it removed from public view. But the industry would also lose access to competitive insights that can be gleaned from the massive trove of consumer complaints.
East Chicago, Ind., residents again are pushing for more oversight in the cleanup efforts at the U.S.S. Lead Superfund site, as plans are being circulated on the demolition of the West Calumet Housing Complex.
Fay Servicing will pay $1.15 million in borrower restitution and possible disgorgement to settle CFPB allegations that it engaged in so-called foreclosure dual tracking and failed to keep borrowers informed about loss mitigation efforts.