Law and legal issues

Litigation filed by the company points to a total of $30 million losses that have yet to be covered by its insurance partners, including Berkshire Hathaway.

In October's mortgage roundup, learn more about Fairway's legal battles over redlining and overtime shortcomings, the Federal Housing Finance Agency's updates to rules on appraisals and waiver access and more.

A Pennsylvania federal judge ruled that HUD's handbook allowed, but did not require servicers to offer partial claim workarounds in tandem with funds from HAF.

A complaint accuses Mr. Cooper of using an AI-generated call in contacting customers who gave no consent to be reached out to.

Consumers are meanwhile filing objections to the near $1 billion in settlements from the nation's largest brokerages ahead of a November court approval.

The mortgage lender lost its license two weeks after Connecticut also axed its ability to originate loans, following an investigation that questioned the company's financial wherewithal.

RoundPoint Mortgage Servicing says in its motion to dismiss that the borrower was required to try to resolve the dispute prior to filing a legal complaint.

A California branch manager claims Movement Mortgage compensated her less than her male counterparts and mislabeled her employment status.

The Florida-based brokerage The Okavage Group is challenging the dismissal of its antitrust suit against UWM, filing an appeal on Oct. 17 in the U.S. Court of Appeals for the Eleventh Circuit.

The agency filed an appeal to a ruling in August, which decimated its noncompete ban, set to go into effect in September.

The suit claims Fairway Independent Mortgage did not pay its loan officers overtime and failed to reimburse them for work-related expenses.

A federal appeals court this year reversed Townstone Financial's earlier victory, ruling the regulator had authority to apply a lending law to prospective applicants.

Consumer Financial Protection Bureau Director Rohit Chopra said opposition to the bureau's recently finalized open banking rule should be viewed as banks and other large firms attempting to quash competition and stymie consumer data protection.

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.