Law and legal issues

The lender isn't accusing United Wholesale Mortgage of wrongdoing, but says a broker secured loans for the same customers from both companies weeks apart.

The mortgage lender will also conduct its own independent audit to determine if any further instances of unlicensed activity occurred after 2022.

Michael Strauss faces massive Sprout liabilities as his wife and a former associate launch a new mortgage firm, raising questions about ties to the fallen lender.

The high court, without comment, refused Emigrant Mortgage's appeal of a verdict holding it liable for no income, no asset verification loans to minorities.

The reverse mortgage companies squeezed thousands of dollars out of aging homeowners through various illegal fees, according to a new class action suit.

The judge said Nexa CEO Mike Kortas' testimony lacked credibility, ruling that $350,000 transferred to Platinum One was an investment, not loan.

A Massachusetts borrower sued the servicer last year after she was surprised with a $200,000 mortgage bill, after 16 years of not receiving statements.

The pending agreement would resolve claims over a 2021 hack which affected 5.8 million customers of Lakeview, Community, and Pingora Loan Servicing.

Rocket denied the allegations, saying the lawsuit is a retread of a case the Consumer Financial Protection Bureau filed that was quickly dismissed.

A California consumer who applied for a refinance in November says he was unaware his data, including financial details, was shared with advertisers.

United Wholesale Mortgage, which was sued twice in December for alleged violations, put the blame for some text messages on an independent mortgage broker.

President Donald Trump's recently filed lawsuit against megabank JPMorganChase and its CEO Jamie Dimon is not expected to succeed in court, legal experts say.

The class action complaint describes, from a real estate agent's perspective, how the company allegedly pushes borrowers toward its in-house lending arm.

Mortgage borrowers filed a third amended class action complaint against the bank over modification issues from 2010 to 2015.

The wholesale giant, fully entangled in the legal fight over a six-figure bonus, emphasized it's only the title sponsor of the broker trade group.

The Supreme Court Wednesday appeared skeptical of the Justice Department's argument that removal of a Federal Reserve governor is unreviewable or that the president's preference for Fed governors outweighs the harm to the Fed from curbing the central bank's political independence.

The Consumer Financial Protection Bureau has backed off enforcement and supervision of consumer protection laws, leaving states to fill the void — and potentially creating a "patchwork" of state laws that banks will have to comply with.

The industry vendor SitusAMC has not publicly disclosed how many consumers, nor how many banks and lenders, were impacted in a cyberattack last fall.

A Florida man's racketeering class action case accuses two mortgage employees of conspiring with a homebuilder to facilitate fraudulent construction draws.

The Senate allowed the nomination of a permanent director of the Consumer Financial Protection Bureau to lapse, giving acting Director Russell Vought more time to lead the agency on a temporary basis.