Law and legal issues

Consumers sued 11 more industry players in the past two months over alleged unwanted contact, as the pace of spam call class action cases increases.

This is the fourth settlement MV Realty reached in the last two months over its controversial homeownership benefits program, which is now illegal in 33 states.

The insurance giant accuses Nationwide Mortgage Bankers of profiting off its branding and of suggesting to consumers that it's tied to the firm.

The lender, in addressing claims first raised by the Consumer Financial Protection Bureau, said its activities are protected by safe harbor provisions.

In a settlement agreement last year, the bank will assist low- and-moderate income borrowers residing in, or buying homes in such Census tracts.

A shareholder who claims no bias between United Wholesale Mortgage and CrossCountry Mortgage suggests the servicer must answer to recent allegations.

Rocket Mortgage pointed to United Wholesale Mortgage's refinance promotions and comments by Mat Ishbia to induce brokers to breach non-solicitation agreements.

Employees say they worked unpaid overtime by frequently logging into numerous software before clocking in, to answer calls immediately upon their shift starting.

The letter suggests Mortgage Connect review and end the use of any noncompete or other agreements that aren't necessary and to notify workers of updates.

First American claims Liberty National's owner changed the company's name immediately after a judge held her firm liable for an erroneous wire transfer.

The opinion that supports national banks' ability to avoid paying interest on certain mortgage accounts in New York is unlikely to be the last word.

The litigants, with some of the industry's deepest pockets, may be filing the rare cases to flag and potentially punish bad brokers, one expert said.

A federal judge harshly criticized the settlement of a civil suit between the Department of Justice and a Texas land developer.

The former Wall Street player blamed its decline on rising interest rates, trouble at its lending subsidiary, and debt stemming from the Great Financial Crisis.

True Footage claims a startup founder signed up for its products using false MLS credentials and used large language models to copy its software.

The NEXA CEO accused his rival of lashing out at his company despite its own alleged wrongdoing in poaching loan officers and diverting loans.

An independent auditor raised "substantial doubt" about the company's viability as it may not be able to extend forbearance deadlines on massive debts.

The investment property owner says she was stonewalled and humiliated by BofA's loan officers, and that an error-riddled appraisal was short by over $70,000.

The new law adds rules, including counseling requirements, which would put severe constraints on originations of HEIs, an industry representative said.

First Mortgage Co., a long-defunct lender led by convicted executive Ron McCord, blamed the advisory firm for his failure to accept a $20 million offer.