Law and legal issues

Nations Lending claims two former branch managers diverted business to CMG Financial before leaving to their new place of employment.

Mortgage 1 Inc., founded in 1994, said customers and regulators have mistakenly contacted it instead of Mortgage One Funding, which changed its name in 2021.

The court reverses a $10M class win in a Rocket Mortgage appraisal suit.

The agreement would resolve claims for a class of 298,000 members, who allegedly received over 700,000 calls from Coldwell Banker agents between 2015 and 2020.

Cases involving accusations of redlining, kickbacks, underpaid employees and more swept across the mortgage industry in recent months.

Legal arguments in this case hinge on whether products offered by HEI platforms should fall under the Truth in Lending Act.

The Supreme Court heard oral arguments in Thompson v. United States, which could decide whether the federal government can prosecute "misleading" in addition to "false" statements to the Federal Deposit Insurance Corp.

The Department of Justice argues that mortgage lenders, including Rocket Mortgage, should be held accountable for the work of third-party appraisers.

The Department of Housing and Urban Development did not assign any fault or liability in conjunction with the "historic" settlement.

The decision revealed Monday upholds an appeals court ruling in favor of federal investigators.

Two trade groups filed a lawsuit against the Consumer Financial Protection Bureau claiming it exceeded its authority and ignored the legislative history on medical debts.

The Department of Justice alleges that The Mortgage Firm failed to serve majority Black and Hispanic neighborhoods in the Miami metropolitan area.

The lenders are working on written agreements to resolve the complaints involving a combined 30 mortgage professionals named defendants.

The manufactured home loan lender, a unit of Berkshire Hathaway subsidiary Clayton Homes, was accused of ignoring red flags that sent many borrowers into bankruptcy, default and ultimately out of their homes.

The meals, which were more promotional than sales-oriented, shouldn't make originators exempt from receiving overtime pay, an attorney argued.

Newrez's servicing arm approved an "obviously counterfeit" HELOC request from a bad actor totaling almost $500,000, a complaint claims.

Plaintiffs argue that Mr. Cooper's hefty payment to Alphv hinged on the promise that the criminal organization would delete stolen customer PII.

In multiple 2024 suits filed against mortgage businesses, the plaintiff claims he was never a client, but received messages despite being on the do-not-call list.

Luminate Home Loans closed its Neo Home Loans division in October after it fired leaders allegedly funneling trade secrets to the rival.

The lender and servicer is spending $9.3 million on security upgrades in addition to its pending $25 million fund for consumers and their attorneys.