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.”
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.
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.
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.
The Supreme Court’s decision in the long-delayed Collins case sets the stage for a swift change in leadership at FHFA but it may not end the shareholder lawsuits over the GSEs and the net worth sweep.