Law and legal issues

Specialized Loan Servicing allegedly charged borrowers $7.50 for processing mortgage payments made by phone. Most servicers, including Newrez, have axed this fee.

The nation's largest single-family landlord owns over 84,000 homes outright.

Both parties reached an undisclosed agreement to settle all litigation in mid-September.

The state, with the support of its Realtors, will be mandating that real estate salespeople have a contract with the home seekers they are representing.

James B. Nutter & Co., after its legal victory over the Justice Department in July, agreed to a $2.4 million False Claims Act settlement over poorly underwritten reverse mortgages.

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.