Community development financial institution The Change Company won judgment against a firm led by its former employee, who previously sued the lender, lodging allegations of misconduct. The Anaheim, California-based parent of Change Lending filed suit in 2023 against Yeti Global Services, a company owned by its former chief of staff Adam Levine. Change accused Levine […]
Change Co. emerges victorious after suing ex-employee Read More »
A Redfin shareholder vote planned for today, June 4, will proceed as planned, according to legal documentation published by a Washington federal court Tuesday. The vote is one of the final steps for closing Rocket Companies’ $1.75 billion acquisition of the real estate brokerage. In early May, plaintiff Jason Morano, a Redfin shareholder, sued the
Roadblock for Redfin shareholder vote on Rocket merger removed Read More »
Feds have terminated a consent order against a mortgage lender feds accused of “systemic racism” in the Philadelphia region. A federal judge Monday approved the government’s request to terminate its deal with Trident Mortgage, just over two years before it was set to expire. Attorneys with both the Consumer Financial Protection Bureau and the Department
Feds close $22 million redlining order with lender early Read More »
Newrez wants to dismiss a trio of “zombie” second mortgage lawsuits, suggesting its servicing arm didn’t violate, nor is subject to, the lending laws consumers cite. Borrowers accuse Newrez’s Shellpoint of inflating the balances of their long-dormant second mortgages, and for long periods failing to send them monthly statement notices. The prospective class action complaints
Newrez fires back in trio of “zombie” mortgage lawsuits Read More »
Graeme Sloan/Bloomberg The Department of Justice, which recently terminated one Biden-era fair lending consent order, is now pushing to free another bank from its obligations under a three-year-old redlining settlement. The DOJ filed an unopposed motion last week asking a federal judge to dismiss the department’s consent order with New Jersey-based Lakeland Bank more than
DOJ seeks early end to NJ bank’s redlining consent order Read More »
The Trump administration is defending new building standards that over a dozen states and a leading industry trade group say will markedly raise housing costs. A federal judge this week scheduled a hearing which could determine the fate of the lawsuit over the adoption of energy efficiency standards a decade in the making. The Department
HUD, USDA defend rule NAHB argues will hike housing costs Read More »
United Wholesale Mortgage is victorious in yet another challenge to its “All-In” initiative after a federal appeals court ruled against a Florida brokerage. The Okavage Group filed an antitrust suit against UWM in 2021 over the megalender’s ultimatum for brokers working with competitors Rocket Cos. and Fairway Independent Mortgage Corp. The brokerage, led by Dan
UWM survives All-In challenge in federal appeals court Read More »
A leading title insurer is suing two federal U.S. offices over a new “arbitrary and capricious” reporting rule aimed at preventing money laundering activity that it claims exceeds their authority. Fidelity National Financial and its similarly named title insurance subsidiary filed the lawsuit in a Florida federal district court in May. Named as defendants were
Title company sues feds over looming reporting rule Read More »
Trustmark National Bank is enjoying an early exit from a consent order stemming from a Biden-era redlining investigation. The Jackson, Mississippi-based lender and servicer is free of the settlement with regulators 17 months early, following a federal judge’s approval last week. The Department of Justice, the Consumer Financial Protection Bureau and the Office of the
Trustmark gets early exit from redlining consent order Read More »
The Trump administration wants to back off yet another mortgage-related lawsuit, aiming to exit a dispute between borrowers and Mr. Cooper over alleged servicing junk fees. The Consumer Financial Protection Bureau asked a judge to withdraw its amicus brief supporting plaintiffs challenging Mr. Cooper’s $25 expedited payoff quote statements. In that brief filed last August,
CFPB backs off Mr. Cooper ‘junk fee’ lawsuit Read More »
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