Law and legal issues

The lender lost a battle to toss the lawsuit, but convinced a judge to compel the regulator to produce data on its competitors.

A group of plaintiffs in another action against the National Association of Realtors and three franchisors claimed harm if the May 9 final settlement hearing took place.

Mike Kortas, CEO of NEXA, alleges he fired his former co-owner, Mat Grella, because he added himself as a "new manager" of the company in a filed amendment to the company's articles of organization.

Ex-CEO Michael Strauss used the lender's bank various accounts to pay for his own expenses, a trustee for the failed lender claims.

The company, acquired by CrossCountry Mortgage in 2022, discouraged employees from reporting they worked off-the-clock as a means to "save on labor costs."

The April 26 update came two days after the group received preliminary approval for the Sitzer/Burnett agreement.

Plaintiffs seeking class certification claim the bank uses an underwriting system that discriminates against minority mortgage applicants.

The company's attorneys had previously managed to successfully decertify the class in the seven-year long case, but the decision was reversed last year.

A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.

The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.

Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.

In a motion to dismiss UWM's suit, Ramon Walker argues the trademark infringement claim made by UWM is a "pretext to muzzle [his] criticism."

The two major government-related mortgage buyers' clarifications on real estate commissions take a path similar to that of the Federal Housing Administration.

The mortgage lender is requesting for a former VP of Mortgage Lending to pay back over $500,000.

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.