Law and regulation

The class action case, first brought up in 2020, accused Lakeview Loan Servicing and LoanCare of violating the Texas Debt Collection Act by charging "junk" fees.

The high court will hear oral arguments on Oct. 3 on whether the Consumer Financial Protection Bureau's funding violates the Appropriations clause. A key issue is whether parameters can be placed around Congress' authority over the federal purse strings.

The proposal by a regulator overseeing government-related loan buyers could cut companies with small infractions off from a key source of business, groups say.

The U.S. Securities and Exchange Commission is probing the non-QM lender, which pledges to promote homeownership in underserved communities, over its mortgage-backed securities, according to people with direct knowledge of the matter. 

The watchdog accuses the mortgage shop of providing illegal incentives to real estate brokers and agents, such as cash payments, paid subscription services, and catered parties, in return for purchase business.

The accusations build on those previously outlined in a lawsuit filed by former chief operating officer Tamara Richards in 2021.

The implementation plan the Biden administration released on Thursday seeks to shift liability for data breaches onto "the biggest, most capable" entities. Does that mean banks?

The Ninth U.S. Circuit Court of Appeals reversed a prior ruling made in 2021 that dismissed the class action, thereby reinstating the litigation that claims the media giant's advertising platform allowed for redlining practices.

Judge Kenneth Marra granted the servicer a summary judgment, ruling all of the government's claims were previously covered by the National Mortgage Settlement.

The state will introduce new rules in 2024, while North Carolina and Delaware have similar legislation coming into effect this summer.