Eli Global’s mini-mortgage empire includes lender/servicer Castle & Cooke, wholesaler Western Bancorp, Prime Mortgage and a warehouse lending division called CapLoc…
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.
“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.
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.
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.
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.
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