The National Association of Realtors (NAR), among a group of 18 companies and organizations, is leading the charge against a recent court ruling that allows lawsuits to be brought against homeowners that use their own floor plan during the course ...
Read More »Landlords Fight Foreclosure Ban
A group of landlords in Massachusetts is fighting at both the state and federal level to have an eviction and foreclosure ban lifted. They say the moratorium is hurting them financially and that it is unlawful. The case is being heard ...
Read More »Mortgage Brokerage Responds to CFPB’s Claims
CFPB charged Townstone Financial Inc. with violating the Equal Credit Opportunity Act. Click through to read more.
Read More »Freedom Debt Relief Settles CFPB Lawsuit
Freedom Debt Relief has agreed to pay a fine of $20 million in restitution to affected consumers as part of the settlement. Here are the details.
Read More »Court Approves $13.8M Wells Fargo Settlement
The bank’s plan will work to address allegations of unauthorized loan modifications that may have led to borrower defaults.
Read More »HouseCanary Wins $706.2 Mn Verdict Against AMROCK Inc.
A federal jury in Texas has awarded HouseCanary, a provider of real estate valuation and assessment tools, $706.2 million in its breach of contract and trade secret misappropriation case with Title Source, an affiliate of Quicken Loans, now known as ...
Read More »Quicken Calls Lawsuit ‘Meritless and Frivolous’
A newly filed class action lawsuit alleges that the online lender used keystroke loggers to collect personal information from visitors to their website.
Read More »BlackRock Seeks $3B in Damages from HSBC
BlackRock Inc., along with 23 other investors of residential mortgage-backed securities, petitioned New York federal Judge Lorna G. Schofield to hear oral arguments to advance their case to class status as they seek to collect over $3 billion in lost assets from HSBC. The initial suit claims that HSBC did not do its due diligence in protecting certificate holders, and that they failed to ensure the home loans being sold from mortgage originators and sponsors to the trust were only selling debt from credit-worthy borrowers. The plaintiff’s claim that HSBC’s direct neglect was the cause of loses when default rates hit their peak during the housing crisis.
Read More »OneWest’s Financial Freedom Settle Allegations
Financial Freedom, a division of OneWest Bank agreed to a settlement of over $89 million on Tuesday, resolving allegations from the Department of Justice that the accusing the company of violating the False Claims Act and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 in connection with its participation in a federally insured Home Equity Conversion Mortgages or ‘reverse mortgage’ program.
Read More »Deadline Approaches for Shareholders to Pursue Claims Against Ocwen
According to Tripp Levy, Ocwen has made public statements to its shareholders that were false and misleading. The firm stated that the deadline for investors to make their claim is approaching, as it mounts a class-action law suit on behalf of shareholders who purchased shares of Ocwen during the period between May 11, 2015 and April 19, 2017. In reaction to recent allegations, Ocwen has responded: "Under these circumstances, Ocwen has a responsibility to its customers, shareholders, and employees to vigorously defend the Company."
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