New FHFA Director Mark Calabria singled out GSE "charter creep" as something he would like to eliminate. But he was short on specifics. Still, an FHFA probe of the matter has been launched.
Possibly dozens of VA lenders have been handed subpoenas from the federal government tied to VA delinquencies and possibly loan churning. Is this a fishing expedition or something more? Needless to say, lenders are worried.
An auction of Ditech Financial is scheduled for the end of May. At stake is not only the company’s future — and the jobs of roughly 2,700 full-time employees — but $187.2 billion in mortgage servicing rights. If bidders fail to show up, Ch. 7 will likely be the next step.
Faced with a lawsuit from a tribal housing-finance agency, HUD has delayed implementation of a new policy regarding downpayment assistance programs for at least 90 days.
Zillow failed to win an early dismissal of a suit alleging its co-marketing program violated RESPA. Separately, a group of lenders including Bank of America will face revived kickback claims under RESPA.
Detroit-based FHA lender Quicken Loans said it has no intention of settling its False Claims Act case with the Department of Justice but is willing to participate in a mediation ordered by a federal district court judge.
Several large banks seek damages from the federal regulator for failing to protect them from lawsuits related to the sale of RMBS and the subprime disaster.
A new first: A court decision on claims brought against mortgage lenders under the ability-to-repay rule provides insights on the underwriting process.
A U.S. district court judge in Detroit has directed Quicken Loans and DOJ to settle via mediation their dispute over poorly underwritten FHA loans. But will they?
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