Eli Global’s mini-mortgage empire includes lender/servicer Castle & Cooke, wholesaler Western Bancorp, Prime Mortgage and a warehouse lending division called CapLoc…
HSBC has agreed to pay $765 million in civil penalties under a settlement agreement with the Department of Justice to resolve allegations it misled investors on the quality of its residential MBS and the accuracy of its due diligence procedures.
“I think everyone is on board,” said Colgate Selden, a former CFPB attorney and now managing director and head of regulation and compliance at Promontory MortgagePath.
A recent court ruling that affirmed the validity of claims that the GSE net worth sweep breached an implied covenant of good faith is a big deal for shareholders, according to the plaintiff’s attorney.David Thompson of Cooper and Kirk told Inside The GSEs this week that U.S. District Judge Royce Lamberth’s decision is a “significant victory” for the plaintiffs.
The Department of Veterans Affairs has spiked an interim final rule on “qualified mortgages” in favor of a new separate rule establishing new QM standards.
A federal judge in Washington last week dismissed a securities fraud lawsuit against Zillow, ruling its co-marketing program does not violate the Real Estate Settlement Procedures Act.