NAR claims a recent lawsuit is on “shaky legal grounds” and that it mischaracterizes the association’s rules regarding multiple listing services (MLS).
Read More »Wells Fargo Responds to California Class Action Suit
Here’s what the bank had to say to a lawsuit filed by a loan officer in California that could have a broader impact on the bank’s wage and commission practices for its mortgage business.
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 ...
Read More »OneWest Settles Reverse Mortgage Litigation
The United states had alleged that Financial Freedom had not properly disclosed on the insurance claims forms it filed with the FHA that the mortgagee was not eligible for such interest payments because it had failed to meet various deadlines relating to appraisal of the property, submission of claims to HUD, and pursuit of foreclosure proceedings. Despite this, had sought to obtain insurance payments from insurance.
Read More »Deadline for Shareholders to Pursue Claims Against Ocwen Looms
Tripp Levy PLLC announced on Monday that the deadline for investors to pursue their claim against Ocwen in the class action lawsuit is approaching. These investors seek to recover compensation damages caused by Ocwen’s violations of the Securities Exchange Act, and those that purchased shares of Ocwen during the period between May 11, 2015 and April 19, 2017 are encouraged to contact the firm soon.
Read More »JPMorgan to Pay $797.5 million to Lehman
The banking giant has agreed to pay a hefty fine in order to end all legal issues emanating from the 2008 financial crisis.
Read More »Five Mortgage Lenders Sued for False FHA Claims
The U.S. government has filed a lawsuit against five mortgage lenders and their principals, alleging that they defrauded the government and a number of banks through false Federal Housing Administration claims.
Read More »Wells Fargo Accused of ‘Redlining’ in Lawsuit by City of Oakland
The city of Oakland, California, has filed a lawsuit against Wells Fargo accusing the bank of reverse redlining by targeting minorities for high-cost mortgage loans which later led to foreclosures and blight when the borrowers defaulted.
Read More »Goldman Sachs Wins Toxic MBS Lawsuit Filed by Investors
Goldman Sachs won a class action lawsuit accusing the investment banking firm of knowingly selling toxic mortgage-backed securities to hedge fund Dodona I and other investors in 2007 before the financial crisis, according to media reports.
Read More »Wells Fargo, BofA, & Citigroup Predatory Mortgage Lending Lawsuits Revived
The 11th U.S. Circuit Court of Appeals recently revived three lawsuits the were brought about by the City of Miami, accusing Wells Fargo & Co, Bank of America Corp., and Citigroup of discriminatory and predatory mortgage lending practices to minority borrowers.
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