Class Action Targets NV Foreclosure Processors
Six companies that process foreclosures in Nevada have been named as defendants in a lawsuit that seeks class-action certification.

The firms are accused of engaging in debt collection activity even though they were not licensed as debt collectors in the state.

The lawsuits are in addition to foreclosure lawsuits recently filed against Bank of America Corp. and Lenders Processing Services Inc.
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State Mortgage Licensing Requirements Evolve as Licensee Count Drops
As state authorities continue to increase mortgage license requirements and take actions against alleged license violations, the number of license holders continues to fall in some states and cities as a result of the decline in housing activity.

Mortgage Branches Open, Change Brands
Mortgage banking firms are scooping up local branches at a healthy pace, and at least three of the branch recruiting operations are based in Houston. More than a thousand branch locations have been added to the national registry during the most-recent quarter.

Bankrupt Hard Money Lender Sues State Over License
A hard-money lender that that plans to emerge from bankruptcy has sued the licensing agency in its state because its license was not renewed. The company services mortgages but won't be able to continue doing so without its license.

Mortgage Licensees Growing
The number of mortgage licenses in the national registry has grown each quarter this year, and much of the growth was concentrated in three states. Suspensions were extraordinarily high in Pennsylvania, though Texas and Utah were also active in this area.

Allied Asked to Remove Notice from Web Site
State regulators in Maryland have suspended Allied Home Mortgage Corp.'s license and asked the struggling firm to remove an online notice indicating that it expects to resume lending this week.

NMLS Deadlines Ahead
Registered mortgage companies and loan originators face multiple upcoming deadlines.

5 Reverse Firms Ordered to Halt Lending in Mass.
The Commonwealth of Massachusetts has ordered five online firms that originate reverse mortgages to stop doing business in the state.

NMLS Reports # of Lenders, Brokers & LOs
More than a hundred-thousand loan originators are registered in the Nationwide Mortgage Licensing System & Registry, according to a new report that also lists the number of lenders, mortgage brokers and branches. While California dominates the registrations, Texas ranks high among registered lenders and loan originators, and Ohio has a high branch count.

HUD Issues SAFE Rules
The minimum standards required by the Department of Housing and Urban Development under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 have been published. The housing agency also addressed licensing requirements for loan modification employees.