Law and legal issues

A doctrine giving some executives an extra layer of protection from depositions didn't apply amid conflicting testimony about the leader's actions, a magistrate ruled.

The servicer charges borrowers $25 to obtain a payoff quote statement.

Industry stakeholders predict the bombshell allegations around how United Wholesale Mortgage does business will impact customer sentiment and could lead to more regulatory oversight.

After gaining access to On Q systems via vendor software, unknown parties were able to obtain and remove client personal information, including Social Security numbers.

A hedge fund-backed newsroom accused the industry giant of overcharging borrowers by hundreds of millions of dollars through "corrupt UWM loyalist" brokers.

The order in the Cenlar loan modification case highlights what courts may look for in qualified written request responses, something other servicers like Specialized Loan Servicing also are contending with in litigation.

This is the second suit related to United Wholesale Mortgage's All-In initiative to get recommended for dismissal in a federal court.

A federal judge in Texas sided with bank trade groups, agreeing that bank regulators might have overstepped their authority in reforming parts of the Community Reinvestment Act.

The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.

Equity is entitled to a little over $70,000 worth of damages.

UWM kicked off the new year as the number one lender in the U.S. in overall and wholesale production as well as purchase mortgage originations, but it has not been all smooth sailing.

As part of the settlement, Loandepot will beef up its appraisal policies and practices, it announced.

The defunct company has agreed to pay deferred compensation and transfer back a building to the father and son duo who sued in August.

Loan officers expressed concerns about stepping on the toes of their referral partners.

The Los Angeles venue accuses the lender and another defendant of failing to pay nearly $300,000 in licensing for a stadium lounge table and seats.

Industry veterans are wary of prospective borrowers who can't pay for agents, and of compensation guidelines clashing with government mortgage lending programs.

The plaintiffs allege that the loan-mod errors in the case are different from the ones in two other proposed class-action lawsuits, which stem from a systems issue.

The broker argues it did not break any agreement because it never signed an amendment to UWM's ultimatum in 2022.

Malicious actors could be utilizing the same software that cybersecurity experts use to test a company's systems for vulnerabilities.

The pending agreement won't significantly impact commissions payments themselves, attorneys for the association said.