Mr. Cooper’s $25 charge to borrowers for expedited payoff quote statements passes legal muster, a federal judge ruled. U.S. District Judge Barbara Jacobs Rothstein last week granted summary judgment in favor of the lender and servicer in the consumer lawsuit that drew the attention of federal regulators. Plaintiffs have argued for over a year that […]
Mr. Cooper servicing fee passes legal muster Read More »
A Massachusetts judge denied a home equity investment platform’s request to dismiss a state lawsuit filed against it in a case that could provide clues to how products from such companies might ultimately be defined. State Attorney General Andrea Joy Campbell originally sued HEI platform Hometap in February, putting forth multiple claims, including allegations that
Judge denies motion to dismiss case against HEI platform Read More »
Real estate investment trust Two settled its long-running litigation with its former external manager Pine River for a one-time payment of $375 million. The dispute escalated in July 2020, when Pine River and affiliated entities dismissed a state court legal filing and instead pursued the case in federal court. At the same time, Two, the
Two settles litigation with former advisor for $375M Read More »
Mr. Cooper can finish what Homepoint started and seek damages from a small lender over a repurchase request, a federal judge has ruled. The massive lender and servicer which purchased Home Point Financial in August 2023 did not indicate in court filings nor a statement whether it would pursue the lingering case against Pennsylvania-based Amres
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President Trump is demanding the resignation of Federal Reserve Governor Lisa Cook after his housing chief accused her of lying on mortgage applications. The allegations, if true, could force a shake-up at the central bank and hand Trump another appointment. “Cook must resign, now!!!” Trump wrote in a Truth Social post Wednesday, including a link
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The director of the Federal Housing Finance Agency is urging Attorney General Pam Bondi to investigate Federal Reserve Governor Lisa Cook over a pair of mortgages, the latest in a series of moves by the Trump administration to increase legal scrutiny of Democratic figures and appointees. FHFA Director Bill Pulte, a staunch ally of President
Pulte calls on Bondi to probe Fed’s Cook over mortgages Read More »
Forty-one former employees of Fannie Mae on Wednesday sued the company, its chief executive and Federal Housing Finance Agency Director Bill Pulte for alleged defamation related to their dismissals in April. The ex-employees of the government-controlled mortgage giant are seeking damages amounting to more than $2 million per person, according to complaints filed in Fairfax
Fannie Mae former employees sue company, Pulte for defamation Read More »
Union Home Mortgage is accusing a Georgia-based married couple of thwarting their noncompete agreement by taking confidential client information to her new employer. According to the complaint, Nathan Duce and Rachel Duce, who previously worked at UHM as a branch manager and loan officer respectively, took customer information from the Ohio-based lender and used it
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A California judge declined to give class action certification to a suit lodged three years prior accusing Wells Fargo of discriminatory practices. In an order dated Aug. 5, U.S. District Judge James Donato, wrote that there is no “glue” to hold together the plaintiffs’ claims to justify the granting of class status. Over 100,000 plaintiffs
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A Texas federal judge overseeing the data breach suit against Mr. Cooper refused to dismiss the case, as was previously requested by the mortgage servicer. In a recently published order, U.S. District Judge David Godbey, wrote that the court finds the plaintiffs have standing to bring some claims against Mr. Cooper, though others have been
Judge rules Mr. Cooper data breach borrowers have standing Read More »