Law and legal issues

Stakeholders in the financial services space, including the IRS and HUD, filed objections to Hometown's proposed liquidation plan.

Rival lenders lodged suits for poaching, Rocket sued HUD over appraisal bias and a top LO was accused of large-scale mortgage fraud.

A borrower alleges the bank made billions of dollars in profit off millions of dollars in rate lock extension fees it wrongly charged mortgage customers.

These are just a few of the legal actions that will have implications for mortgage firms going forward.

American Mortgage Network accused CCM of racketeering for running a "transition desk" to divert loans, claims a judge dismissed.

The correspondent lender says the mortgage cooperative is motivated by its parent Altisource Portfolio Solution's financial struggles.

Feds allegedly reneged on an agreement with the trade group at the onset of the Biden Administration.

Plaintiffs want to certify a class of 119,100 minority mortgage customers who were unfairly deprived of ultra-low mortgage rates during the refi boom.

Plaintiffs have so far failed to prove the government-sponsored enterprise authorized the $25 expedited payoff quote in question, the magistrate ruled.

This is the second short-sale fraud case to make headlines in recent weeks, following the conviction of a New York businessman in November.