The reason, United Wholesale Mortgage told employees, was to avoid legal bills and long-drawn court proceedings.

Despite a significant decline in indictments and convictions, the FHFA IG’s Office of Investigations secured more than six times as much in restitution than in the prior period.

Lenders argue the temporary measures adopted by Fannie and Freddie to promote condo safety unnecessarily raise costs for borrowers and present liability issues for HOAs and cooperatives.

In a refinancing scheme involving some 2,500 units, Seth Levine defrauded lenders and investors out of $60 million.

By punting on this GSE case, the appeals court effectively ends shareholders’ constitutional and Administrative Procedures Act claims. Now, all eyes turn to a breach of contract battle in district court.

America’s Moneyline claims officials of United Wholesale Mortgage had assured the broker that provisions of the controversial “all-in” agreement wouldn’t be enforced.

The federal appeals court has dismissed all claims in Fairholme Funds and seven other shareholder lawsuits against the U.S. government.

The servicer will pay $1.5 million to settle a class action alleging it recorded phone conversations with mortgagors without their consent.

The agreement restricts broker partners from sending loans or applications to Rocket Mortgage and Fairway Independent Mortgage. The California-based broker said the provision is illegal and anticompetitive.

The Federal Housing Finance Agency’s OIG found that the $250,000 “retention award” in question could amount to the payment of a “bonus” in violation of the STOCK Act.