A mortgage lender accused of predatory practices has agreed to pay more than $3.75 million in restitution. Separately, a broker settled consumer privacy violations and three individuals face penalties for copyright infringement.
A lawsuit involving Wells Fargo, Wachovia and emergency lending facilities by the Fed during the financial crisis has the potential to expand the application of liability under the False Claims Act. An appeals court recently ruled against Wells in the case.
The powerful consumer regulator is working on a plan to identify ways to improve the consent order process. The idea: release so-called "reformed" players from the regulatory burden of CO prison.
Aside from g-fee pricing, most of the ways the GSEs could engage in volume discounting would take place in the secondary market. That means they’re not really violating regulations.
PennyMac wants out of its servicing platform marriage with vendor Black Knight. As might be expected, lawsuits and nasty allegations are the order of the day. The two have been working together for 10-plus years.
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