Law and legal issues

A committee representing unsecured creditors are challenging a number of transfers totaling over $10 million that secured creditor Reverence Capital Partners made from AFI's account.

Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve, which has not been profitable since 2022. The consumer bureau calls the new legal theory "meritless."

Nexa Mortgage is attempting to move one case to federal court after a state judge ordered it to pay over $13,000 in sanctions.

The financial services regulator believes Mr. Cooper is violating the Fair Debt Collection Practices Act due to its $25 fee for payoff quote statements.

Mr. Cooper's PII leak late last year had a significant impact on its customers. Money has been stolen, unauthorized attempts to open credit cards occurred and extensive spam campaigns have followed, a filing claims.

The lender says it's reached an "agreement in principle" to end a consumer class action complaint over its wide-ranging January hack.

The Swiss bank claims that Countrywide is obligated to indemnify it for legal expenses stemming from risky mortgages bundled pre-2008.

The litigation involved more than 100 loans, many insured by the Federal Housing Administration, with volume totaling approximately $55 million.

A court finalized Zillow and Showingtime.com's voluntary dismissal of the case, which has been part of broader litigation over multiple listing service access.

Last year, a New Jersey federal court sided with LoanCare's countersuit awarding it over $22 million in compensatory damages. Freedom was awarded $247,000 in damages.

The lender denied its software uses artificial intelligence in fighting a 'digital redlining' case.

The lawsuit's conclusion ends fights by the rivals to depose each other's senior leaders.

The new law, which went into effect on July 19, also has provisions that deal with heirs property, an issue that clouds ownership.

With the landmark Supreme Court decision overturning Chevron USA v. National Resources Defense Council, much of the rule making by the Federal Reserve Board, the SEC, HUD and other agencies is now open to attack, writes the Chairman of Whalen Global Advisors.

It has become the 29th state to bar NTRAP contracts, with Illinois' legislation on it pending the governor's signature, according to American Land Title Association data.

Rocket Mortgage relied on a biased appraisal when it denied a borrower's refinance application in Denver three years ago, the housing agency claims.

The National Association of Realtors was looking to reverse the April decision from the D.C. Circuit Court of Appeals that allowed the Justice Department to reopen its probe into the group.

As part of the three-year agreement, the group will fund a $1.22 million scholarship fund to recruit minorities into the appraisal profession.

Loandepot claims Melio's logo is too similar in style and sound to its real estate services platform Mello logo, in a recently filed complaint.

Of the settlement amount, $1.5 million will be doled out to the lead counsel, documents show.