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?
The Securities and Exchange Commission is increasing its srcutiny of sale of mortgage interests between investment vehicles managed by the same advisor, even if the parties involved are private entities.
Ocwen Loan Servicing on Wednesday filed an amended complaint in its lawsuit againstFidelity National Information Services. The complaint, filed in California’s Superior Court in Sacramento, dramatically escalates accusations of misconduct Ocwen first leveled against FIS in a 2017 lawsuit.
A federal district court has certified a class-action lawsuit against Wells Fargo brought on behalf of loan officers for alleged clawback of commissions and overtime wages.
The Federal Housing Finance Agency, which regulates Freddie Mac and Fannie Mae, last week said it will no longer defend its single-director leadership structure.
The Supreme Court refused to hear a case challenging the constitutionality of the CFPB. The case could lead to more presidential power over the consumer watchdog.
Lenders are not liable for a servicer’s failure to comply with the Real Estate Settlement Procedures Act, according to a recent ruling by the U.S. Court of Appeals for the Fifth Circuit. Such claims by borrowers have seen some success in district courts and this was the first time an appeals court considered the issue.
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