Law and legal issues

A pension fund has been suing former executives over two decades for misleading investors about the company's subprime holdings before the financial crisis.

The lawsuit accuses Village Capital of failing to pay full price for servicing assets and refusing to reimburse Change for a large Ginnie Mae payment.

Federal Reserve Gov. Lisa Cook's lawsuit against President Trump is challenging his move to remove her from office because allegations against her do not constitute "cause." How courts weigh in could dictate the future of the central bank's independence from the White House.

Federal Reserve Gov. Lisa Cook filed a lawsuit in federal court Thursday morning seeking an injunction against President Trump's "illegal attempt" to remove her from the Fed board. The suit claims Trump has not demonstrated "cause" for her removal under the Fed statute.

Borrowers argued the servicer's $25 charge for expedited payoff quote statements is a "junk fee" and violates federal and state consumer protection laws.

The judge sided with Massachusetts officials in a review of their lawsuit against Hometap, who pushed back on descriptions of its products as "illegal" loans.

Two Harbors' agreement with Pine River resolves a case over wrongful termination that the REIT was already found liable for by a federal court.

The giant lender and servicer which acquired Home Point Capital in 2023 did not say whether it would still pursue damages in the repurchase dispute.

The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.

FHFA Director Bill Pulte, a staunch ally of President Donald Trump, wrote a letter to Bondi and DOJ official Ed Martin on Aug. 15 suggesting that Cook may have committed a criminal offense.

By a 2-1 vote, a three-judge panel of the D.C. Circuit Court of Appeals ruled that the CFPB's union did not have a reviewable claim under the Administrative Procedure Act. The union is expected to appeal to the full D.C. Circuit.

Forty-one former employees of Fannie Mae on Wednesday sued the company, its chief executive and Federal Housing Finance Agency Director Bill Pulte for alleged defamation related to their dismissals in April.

A decline in a branch manager's volume led to allegations he shared customer data with his wife, who joined rival American Pacific Mortgage.

The suit accuses Wells Fargo of digital redlining via its proprietary underwriting system from 2018 to 2022.

A Texas federal court ruled that borrowers suing Mr. Cooper over its data breach in 2023 had "sufficiently alleged injury," thus refusing to dismiss parts of the case.

Shellpoint Mortgage Servicing said it "unfortunately" ok'd the transaction when an individual posed as a homeowner using state and federal identifications.

Lenders and servicers must determine how quickly to act as some legislators look to enable the move a key regulator has ordered while others urge deliberation.

The lender said it would pay $500 for each referral from a North Carolina brokerage that it signed a co-marketing agreement with, according to new lawsuits.

The battle between the industry giants over exclusive listings is the latest tussle in the space beset by infighting following last year's major rule changes.

The leading lenders have hinted at more serious accusations in the lawsuit focusing on the departure of nearly two dozen employees earlier this year.