Wells Fargo has been accused of charging borrowers improper mortgage fees during the origination process, while loanDepot is alleged to have violated the Truth in Lending Act’s loan originator compensation rule.
loanDepot to issue its 11th mortgage warehouse securitization; Gray Media expands television securitization; Hooters bankruptcy could impact whole-business securitization.
Senate fails to move tax bill, which included changes to LIHTC; GSEs, FHA extend compliance deadline for ROV requirements; Treasury pushes FHLBanks on affordable housing; Morningstar concerned that market sell-off will become a self-fulfilling prophecy; loanDepot sets money aside for settlement related to a cyberattack.
As part of the settlement, loanDepot has agreed to undertake extensive appraisal policy changes. The lender also agreed to make payment of an undisclosed sum to the plaintiffs in the lawsuit.