loanDepot, AMC Settle Claims of Discrimination
loanDepot.com LLC and an appraisal management company have reached an agreement to settle claims that borrowers were discriminated against because their properties were located on Indian reservations.
Attorney Still Working on Lehman Mortgages
An attorney who was hired a decade ago to borrowers and mortgage brokers involvded in fraudulent mortgages owned by the bankruptcy estate of Lehman Brothers Holdings is still at it.
4-Month High for Consumer Bankruptcies
Consumer bankruptcies worsened last month, with filings climbing to the highest level in four months. If the trade group for the bankruptcy industry has its way, more consumers will have access to bankruptcy.
St. Louis Mortgage Firm Goes Bust
A residential lender out of St. Louis that was at the center of a bitter divorce has ended operations and could be forced out of receivership.
Judgment Against RE Agent Impacts Mortgage Firms
A recent decision in a federal lawsuit has a real estate agent liable for negligently passing on fraudulent wiring instructions. The case has implications for mortgage lenders.
Facebook Accused of Enabling Housing Discrimination
A complaint filed against Facebook alleges that the social media giant gives its housing-related advertisers control over who sees their ads -- leading to discrimination.
DOJ Touts Record RMBS-Related Penalty
A penalty included in a settlement between the Department of Justice and The Royal Bank of Scotland Group plc is reportedly largest of its kind ever for the department.
Loan Originator Sentenced to Prison
A Florida loan originator is headed to prison after admitting to federal authorities that he helped in the sale of condominiums by fooling mortgage lenders with bogus documents.
Case Could Cost Summit Funding $1.6 Million
A former executive who sued Summit Funding Inc. for age discrimination is expected to obtain a $1.6 million judgment against the Sacramento, California-based company.
Ditech Originations Dip But Likely Turning Higher
Though quarterly originations softened at Ditech Holding Corp., an increase is underway for the current period. The servicing portfolio continued to shrink, as did reverse mortgage headcount. Losses subsided, but liquidity remains a huge concern.