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Home » Topics » Inside Mortgage Finance » Legal Actions

Legal Actions
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Cenlar’s Fate Remains Murky; Sale Unlikely

November 7, 2024
Paul Muolo
The Cenlar regulatory saga continues. There are rumblings of a potential sale though no known offering book.
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DOJ Sues Rocket, Appraisal Entities for Discrimination

October 24, 2024
Shannon Clark
A Black borrower alleged that Rocket Mortgage canceled her refinance application after she repeatedly requested that her home appraisal be revised because it was discriminatory.
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United Wholesale Mortgage Prevails in Antitrust Lawsuit

October 3, 2024
Shannon Clark
A Florida broker’s complaint alleging UWM violated antitrust laws and attempted to monopolize the wholesale mortgage market failed, after no plausible evidence was provided.
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CFPB’s Reverse Redlining Charges Against Texas Lender Dismissed

September 19, 2024
Shannon Clark
The CFPB has 30 days to amend its complaint against Loan Originator Services as part of a fair lending lawsuit filed against a Texas-based developer and lender, Colony Ridge.
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NAR Settlement Causes Early Confusion for Homebuyers

September 5, 2024
James Dohnert
In the long run, mortgage brokers and real estate agents believe the NAR commission settlement will boost business.
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CFPB Fines NewDay $2.5 Million Over Illegal Cash-Out Refis

September 5, 2024
Namrata Bhatia
The nonbank misled borrowers into believing that its cash-out refinance loans were less expensive than their existing mortgages.
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HUD Charges Rocket With Appraisal Bias, Settles With TAF

July 18, 2024
Monica Hogan
The Department of Housing and Urban Development charged Rocket Mortgage with appraisal bias in connection with a denied refinance application. loanDepot settled a similar charge with the CFPB this year.
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CFPB Takes Action Against Reverse-Mortgage Servicers

June 20, 2024
Brandon Ivey
The CFPB has permanently banned three companies from servicing reverse mortgages. Separately, the bureau issued a proposed order against Freedom Mortgage for repeated submissions of faulty HMDA data.
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Production Chief Who Left With Staffers Faces Lawsuit

June 13, 2024
Paul Muolo
With many lenders struggling with profitability, it might seem like a waste of time and money to sue departing production managers who leave with staffers in tow. But the lawsuits keep coming.
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Former Freddie CEO Plots Path to Reduce Closing Costs

June 13, 2024
Dennis Hollier
The combination of the NAR settlement, better coordination between White House and FHFA, and the resurgence of the CFPB may help establish real price competition in the housing and mortgage markets.
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