A yearslong legal battle between credit union regulators and U.S. Bank over mortgage securities dating back to the financial crisis is nearing a settlement, according to new court filings. Both NCUA and U.S. Bank said they were unable to comment on the settlement. A letter dated Oct. 2 from both sides to Judge Louis […]
U.S. Bank, NCUA reach deal in Great Financial Crisis case Read More »
A federal judge dismissed the most serious charges against United Wholesale Mortgage in a racketeering lawsuit which arose from an explosive media report last spring. U.S. District Judge Brandy R. McMillion this week tossed all but two claims against the megalender which borrowers suggested improperly steered them to higher cost loans. The class action case,
Why a federal judge dismissed RICO accusations against UWM Read More »
An appellate court has ruled against Flagstar Bank in a California case which had been mentioned in connection with a New York escrow interest case heard by the U.S. Supreme Court. The ruling in Kivett v. Flagstar was the second against a bank in recent weeks. A Sept. 22 First Circuit ruling sent a similar
Flagstar mortgage escrow ruling upheld by Ninth Circuit Read More »
A group of homeowners filed a class action lawsuit against the largest homebuilding company in the United States and its mortgage lending subsidiary over money they lost in an alleged deceptive mortgage scheme. D.R. Horton and DHI Mortgage targeted prospective homebuyers with affordable monthly payment plans, but the company low-balled the true costs and excluded
Homeowners sue D.R. Horton over hidden mortgage costs Read More »
The US Federal Trade Commission sued to block a partnership to make Zillow Group Inc. the exclusive provider of information on apartment rentals offered by Rocket Companies Inc.’s Redfin. In a complaint filed in Virginia federal court, the FTC said the partnership would reduce the number of websites offering apartment listings, leaving consumers with fewer places to
FTC sues to unwind Zillow-Redfin rental listing partnership Read More »
Freedom Mortgage faces a proposed class action lawsuit, which alleges the lender made several marketing calls to a South Carolina resident in violation of federal and state regulations. Plaintiff Brittany Williams said she received multiple calls from three different Freedom Mortgage originators between July 24, 2025, and Aug. 5, all presenting her with options for
Freedom Mortgage faces charges of TCPA violations Read More »
CrossCountry Mortgage is rejecting accusations that it operated a kickback scheme, and is defending the comarketing agreement in question as lawful. The retail giant in a legal filing Monday offered several arguments to a federal court regarding why a borrower’s Real Estate Settlement Procedure Act complaint falls short. Jeremiah VonBlohn and five other North Carolina-based
CrossCountry defends comarketing deal in RESPA lawsuit Read More »
Chana R. Schoenberger Key insight: Federal Reserve Governor Lisa Cook asked the Supreme Court to deny President Donald Trump’s request to overturn a preliminary injunction previously issued by a district court. In her filing, Cook called the Court’s intervention “premature.” Expert Quote: “A stay from this Court would signal to the financial markets that the
Filings warn of market chaos if Fed Gov. Cook is removed Read More »
Adobe Stock OCMBC is retiring a controversial name it does business under, Jet Advantage Mortgage, and is replacing it with a new one, the company announced this week. But the new moniker does not resolve outstanding legal issues OCMBC has with a local rival. GIANT Lending will serve as the company’s nationwide wholesale lender with
OCMBC launches new business name, retires old one Read More »
New York recorded its first criminal conviction under a new deed theft law, securing a guilty plea from a real estate agent. Oscar Dais pleaded guilty Wednesday to stealing a Rockland County homeowner’s property by forging her signature, New York Attorney General Letitia James announced. The agent committed forgery and violated the Home Equity Theft
New York records first criminal conviction for deed theft Read More »