The settlement would end a class action filed against Sierra Pacific Mortgage for allegedly receiving illegal payments in exchange for referrals of title work.
If Stone Point’s name sounds familiar, it should. The investment firm has several tentacles wrapped around the mortgage industry. One of its investments is Home Point, the nation’s 15th largest originator, which went public last Friday.
The Hartford, CT-based firm is accused of using unlicensed employees to engage in mortgage origination activities in violation of the Truth in Lending Act. The bureau is seeking injunctions against the defendants, as well as damages, redress and penalties.
Reverse Mortgage Funding maintained its second-place position but trailed far behind with $743.5 million. Finance of America, which is controlled by the Blackstone Group, moved up a notch to third place with $577.0 million.
The company is currently conducting a strategic review to maximize shareholder value and is considering written interest from multiple third parties...
CoreLogic’s largest shareholders have raised doubts over the data vendor’s commitment to carrying out a full and fair sales process. The company is in talks with potential buyers at a value of at least $80 a share.