Enforcement actions

A judge in Michigan has ordered the Justice Department and Quicken Loans attempt a settlement in a years-old lawsuit in which the federal government accused the mortgage lending company of fraud.

A recent pyramid scheme highlights why mortgage lenders should keep an eye out for misrepresentation when reviewing electronic documents and signatures.

Now that Ocwen settled the servicing practices lawsuit brought by the Massachusetts attorney general, just two outstanding complaints remain from the 30 filed nearly two years ago.

Tim Sloan couldn't hang on any longer. Here are insights about why he left now, what role policymakers played in the decision and will continue to have in the company's future, and who in the world would want to lead Wells Fargo.

The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible.

Just minutes after his federal prison sentence was raised, Paul Manafort was charged by New York state prosecutors with residential mortgage fraud, conspiracy and falsifying business records.

The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue.

The bureau wants to further remove the threat of legal liability for firms that test products benefiting consumers, but the attorneys general say the agency cannot provide immunity from state law.

Ocwen Financial subsidiary PHH Mortgage will pay a total of $750,000 to six military members and increase employee training to settle Department of Justice allegations that it conducted foreclosures that violated the Servicemembers Civil Relief Act.

Chris D’Angelo, the CFPB's associate director of supervision, enforcement and fair lending, is leaving the bureau after eight years to become a chief deputy attorney general in New York state.

1st Alliance Lending CEO John DiIorio explains why the mortgage lender turned down a consent order with the Connecticut Department of Banking and the high cost of fighting what he sees as an overreach of regulators' enforcement power.

In her New Year’s message, CFPB Director Kathy Kraninger called on the agency to ensure that consumers are treated fairly and that “the marketplace is innovating.”

The cost of Wells Fargo's scandals continues to rise as regulators from all 50 states forced the institution to pay hundreds of millions in penalties for the creation of fake accounts, improper enrollment in life insurance, force-placed auto insurance policies and other activities.

The biggest question is whether new CFPB Director Kathy Kraninger will deviate from the pro-industry policies of her predecessor, or bring continuity.

The CFPB ordered Village Capital & Investment in Henderson, Nev., to issue refunds and pay a penalty for allegedly misrepresenting the cost savings in a refi product.

Regulators typically write rules before applying them. But the CFPB is attempting the reverse.

The federal agencies said in a recent statement that “guidance does not have the force and effect of law,” but two trade groups say that standard should be more binding.

Protecting consumers from intrusive cold calls and fax-spamming is having adverse effects on the mortgage industry as the Federal Communications Commission fails to reasonably interpret language under the Telephone Consumer Protection Act, according to the Mortgage Bankers Association.

Hope Hardison, Wells Fargo's chief administrative officer since 2015, and David Julian, its chief auditor since 2012, have both been removed from the bank's operating committee and begun leaves of absence in the latest fallout from the bank's phony-accounts scandal.

Senate Democrats on Wednesday called for acting CFPB Director Mick Mulvaney to reveal the vetting process that led to the hiring of a political appointee whose past incendiary writings have caused an uproar at the agency.