Law and legal issues

While real estate agents have softened their opinions on the National Association of Realtors commission settlement, almost two-thirds remained opposed, a Clever RE survey found.

The Dallas-based nonbank lender has toned down its mortgage servicing rights activity amid numerous legal battles over alleged violations, but stands to gain much with $1.4 billion Flagstar deal.

MV Realty has offered real-estate contracts that call for consumers to trade upfront cash for long-term home sale restrictions, potentially hampering mortgages.

Building on a prior initiative, the Federal Home Loan Bank of Atlanta is making available $5 million in grants to support efforts to assist owners of heirs' property.

The lender argued further against a lawsuit and investigative report accusing it of corruption on a massive scale.

Agencies must now provide clearer justifications for their interpretations, while Congress needs to draft more precise legislation. The decision could empower banks to challenge agency rules more frequently and potentially prolong regulatory processes, with courts giving less deference to agency interpretations.

The defendant is accused of defaulting on several properties, bought alongside partner companies with names like Satan or Lucifer Management Corps.

A and N Mortgage claims the value of customer data stolen by ex-employees exceeds $1 million.

Details regarding the settlement are sparse, but will be finalized by Sept. 30, 2024, documents show.

Flagstar Bank sued Hometown Lenders for $21 million in 2023, after the lender defaulted on a $60 million warehouse line.

Ginnie Mae had tried to slow the pace of Texas Capital Bank's case and move it to a different court but the judge rejected its legal arguments for doing so.

The case over a federal investigation is unrelated to the trade group's recent commissions changes.

The plaintiffs' 2nd Circuit filing in the Bank of America escrow preemption case is the first since the Supreme Court sent it back for more analysis.

The lawsuit, which the plaintiff seeks class certification for, involves a transfer, overpayments during a grace period and allegations of improper late fees.

A federal judge in Texas ruled the Federal Trade Commission's noncompete ban violates the Administrative procedures Act and exceeds FTC's statutory authority.

A committee representing unsecured creditors are challenging a number of transfers totaling over $10 million that secured creditor Reverence Capital Partners made from AFI's account.

Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve, which has not been profitable since 2022. The consumer bureau calls the new legal theory "meritless."

Nexa Mortgage is attempting to move one case to federal court after a state judge ordered it to pay over $13,000 in sanctions.

The financial services regulator believes Mr. Cooper is violating the Fair Debt Collection Practices Act due to its $25 fee for payoff quote statements.

Mr. Cooper's PII leak late last year had a significant impact on its customers. Money has been stolen, unauthorized attempts to open credit cards occurred and extensive spam campaigns have followed, a filing claims.