Home / Tag Archives: Lawsuit

Tag Archives: Lawsuit

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 »

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 »

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."

Read More »

Weltman, Weinberg & Reis Defends Against CFPB Allegation

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Weltman, Weinberg & Reis, a debt collection law firm, claiming the firm falsely represented in millions of collection letters that attorneys were involved in collecting the debt. Weltman, Weinberg & Reis responded to the allegations, and states that it has cooperated fully with the CFPB.

Read More »

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.