Law and legal issues

The bank had asked for partial summary judgment on an Administrative Procedures Act claim in the case involving its right to some reverse-mortgage collateral.

According to the litigation, a homeowner's Denver property was valued 25% less because of her race.

The complaint focused on 41 employees which allegedly accounted for $260 million in annual production volume.

The nation's highest court has no deadline to address the petition and can reject it without an explanation.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, said his tenure at the agency could be characterized as simply reading statutes rather than finding novel ways to enforce regulations.

Updates to the Telephone Consumer Protection Act aimed at simplifying customers' ability to opt out of robocalls and robotexts will take effect on April 11, 2025.

The Consumer Financial Protection Bureau and Department of Justice issued a consent order against Wisconsin-based nonbank mortgage originator Fairway Independent Mortgage over redlining allegations. Fairway is the country's fifth-largest mortgage originator by volume.

The settlement pending a judge's approval would end the lawsuit over a hack last December.

The lender has largely denied allegations Connecticut previously lodged that threatened its licensing, but the state has new concerns.

The Consumer Financial Protection Bureau has voiced its support for consumers contesting a $25 statement fee on expedited payoff quotes.

September's news roundup for the mortgage industry includes the impact of the Federal Reserve's rate cut on mortgage appetites, lenders continuing to launch and settle lawsuits and more.

Franklin Credit Management Corp. agreed to pay $300,000 to Massachusetts and not sell its portfolio of state loans to a different servicer.

The perpetrator faces up to 150 years in prison, with sentencing scheduled for December.

The order by the judge, who had previously dismissed part of the original loan modification-related claims, shortens the legal process for allegations that remain.

The Bay Area lender said an unauthorized party was in its servers for over five weeks this spring.

A federal judge denied class certification to investors who blame stock losses on misleading statements by executives.

Former employees are still seeking back pay from the non-QM lender's abrupt shutdown in July 2022.

The president of the National Association of Mortgage Brokers shares her outlook for the trigger lead bill, secondary-market refinancing restrictions and more.

Longbridge asserts its rival is unfairly funneling business via a number of websites containing fake reviews allegedly run by Mutual of Omaha itself.

America's Moneyline has invoked the findings from the contentious Hunterbrook report in its 'All-In' complaint.