Law and legal issues

The class-action lawsuit claims the company used deceptive contracts, locking low-income Black homebuyers into disadvantageous long-term mortgages without proper lending disclosures.

A former home mortgage consultant with the company alleges she was subjected to a lower compensation structure, awards and benefits compared to her male counterparts.

Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.

The mortgage REIT's external manager responded by filing a new lawsuit against it, calling the move "baseless and retaliatory."

Moody's says anchor stores like J.C. Penney and Neiman Marcus represent only a small portion of CMBS retail exposure, but their deteriorating fortunes will hasten the decline in credit quality of CMBS-held loans backed by Class "B" and "C" malls.

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold the loans.

The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional.

The Supreme Court threw out a key statutory provision concerning the agency’s leadership structure, but the presidential election and possible legislative reforms could bring about more changes to the embattled bureau.

With just 13 decisions remaining on the docket this session, the high court's highly anticipated ruling in a case challenging the agency's leadership structure could come as early as next Monday.

A bankruptcy judge will be asked to sign off on the sale of BHF's Shoreline portfolio in Chicago and will hold an initial Chapter 11 hearing on another portfolio.