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Home » Topics » Inside Mortgage Finance » Legal Actions

Legal Actions
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Nearly 450 MLOs Fined for SAFE Act Testing Violations

January 20, 2022
Sam Manas
It’s not easy to bring multi-state enforcement actions, yet regulators from 44 states signed consent orders with 441 loan officers who lied about having completed required annual continuing education courses.
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Carrington’s ‘Employee Raiding’ Lawsuit Leads Elsewhere

January 6, 2022
Paul Muolo
Two nonbanks are trading accusations tied to the pilfering of staff, at least that’s how it started. Eventually, the case could be settled out of court but not before some damaging allegations get aired in public.
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Algorithms Under Fire in Mortgage Redlining Initiative

October 28, 2021
Sam Manas
Federal regulators have begun to flex their muscles on fair lending under the DOJ’s new Combatting Redlining Initiative.
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When Bad News Strikes, Recruiters Can Cause Headaches

October 14, 2021
Paul Muolo
In the wake of a messy lawsuit filed by a former top official, loanDepot’s staff has been the target of recruitment efforts. Should we be surprised?
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Lawsuit Against loanDepot May Have Third Parties Worried

September 30, 2021
Paul Muolo
In regard to underwriting shortcuts, loanDepot said it did nothing wrong, but the nation’s sixth-largest home lender’s counterparties may need some reassurances. One observer called a lawsuit filed against the company a legal “nightmare.”
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Grapevine: A Mixed Opinion of Calabria? Squirrels?

September 16, 2021
Paul Muolo and Monica Hogan
Assessing the legacy of former FHFA Director Mark Calabria: Did he do more harm than good? All depends on your line of business.
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Mr. Cooper Seeks Dismissal of Excess Withdrawal Lawsuit

August 19, 2021
Lisa Burden
The nation’s fourth-largest mortgage servicer is being hit on the legal front over a “processing issue” that caused unauthorized withdrawals of monthly mortgage payments.
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Judge Approves Third Payout in HAMP Case Against Wells

August 19, 2021
Lisa Burden
The latest $22 million settlement brings to an end a lawsuit accusing Wells Fargo of wrongfully denying loan modifications to borrowers who eventually lost their homes to foreclosure.
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Off-Again, On-Again Eviction Moratoriums

August 5, 2021
Dennis Hollier
CDC institutes a new ban, while federal agencies warn landlords not to evict tenants without first seeking rental assistance.
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Shareholders Consider Their Chances Post Collins

July 15, 2021
Dennis Hollier
The Supreme Court dealt GSE shareholders a blow in Collins, but cases before a DC district court and the U.S. Court of Federal Claims may finally get before a jury.
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