Law and legal issues

Specialized Loan Servicing, now Shellpoint, allegedly failed to send post-bankruptcy consumers monthly statements on dormant second mortgages, the suit claims.

The trade group agreed to the settlement in March, which included paying $418 million to settle claims.

The company, now known as Onity, is challenging a previous interpretation of the Fair Debt Collection Practices Act in the Eleventh Circuit Court of Appeals.

The proposed class action lawsuit comes after Anniemac revealed that over 170,000 of its customers may have had their data leaked.

Southern Trust Mortgage claims its former LO, now employed with Movement, stole thousands of confidential files and its customers.

The perpetrators conspired to manipulate the short-sale process following the Great Financial Crisis, allowing them to renovate and flip homes for well above the original selling price and leading to millions in losses for lenders and government insurers.

The unusual nature of a recent lawsuit from the Department of Justice has put a multi-billion-dollar industry in the position of deciding either to violate federal law or run afoul of the DOJ, writes the former Chief Legal Officer of Research In Motion Ltd.

A federal court ruled the plaintiff wants "sweeping reforms the court is powerless to give."

Litigation filed by the company points to a total of $30 million losses that have yet to be covered by its insurance partners, including Berkshire Hathaway.

In October's mortgage roundup, learn more about Fairway's legal battles over redlining and overtime shortcomings, the Federal Housing Finance Agency's updates to rules on appraisals and waiver access and more.