Law and legal issues

On top of cratering origination figures, the company faces lawsuits from counterparties over nonpayment.

Brokers say the credit giant, which charges $66.45 per individual check, hasn't made its product better through its acquisitions.

The changes that affect how buyer broker commissions are paid go into effect on Aug. 17, but there's much uncertainty about carrying them out, said Ryan Tomasello of KBW.

The Supreme Court decided to rule narrowly in Cantero v. Bank of America, N.A., sending the case back to the Court of Appeals for the Second Circuit with instructions to perform a more nuanced analysis on whether a New York escrow law unfairly discriminates against national banks.

The billion-dollar originators are disputing Waterstone Mortgage's alleged raiding of 60 employees two years ago, which led three offices to shutter.

A Connecticut judge gave preliminary approval of a $2.42 million settlement between the plaintiffs and Planet Home Lending. Plaintiffs could receive up to $2,000 from the settlement fund.

Attorneys representing the collective suit are set to receive $1 million, per the settlement.

The hack that occurred in December affected 27,746 mortgage customers, the South Carolina-based lender said.

The goal of Newrez's litigation, OneTrust claims, is not to secure a favorable judgment, "but to harm OneTrust's standing and reputation."

A complaint lists out a number expenditures that employees paid out of pocket, but were not reimbursed for, such as high-speed internet, a dedicated phone, and home office expenses.

America's Moneyline, which is accused of flouting UWM's ultimatum, argues Fairway's exit from wholesale and recent media coverage warrant a reconsideration of a previous decision to dismiss its countersuit.

The Supreme Court issued an opinion Thursday morning that was unequivocal in its view that Congress is constitutionally empowered to fund agencies with open-ended and indirect funding mechanisms, overruling a 5th Circuit opinion from 2022 that found that executive branches must be subject to direct Congressional appropriations.

The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.

Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.

A plaintiff alleges that from March to April he received at least 48 calls from the mortgage lender soliciting him to use Loandepot's services.

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."