Supreme Court Could Hear CFPB Constitutionality Case
A decision by a federal judge in New York could bring the constitutionality of the Consumer Financial Protection Bureau before the nation's highest court.

Merrill Lynch Agrees to SEC RMBS Settlement
Merrill Lynch, Pierce, Fenner & Smith Inc. has agreed to settle allegations that it misled customers in order to get them to overpay for residential mortgage-backed securities.

PHH "Extremely Gratified" By CFPB Dismissal
PHH Corp. is celebrating the Consumer Financial Protection Bureau's dismissal of a closely watched case involving alleged violations of the Real Estate Settlement Procedures Act.

Midwest Mortgage Firm Settles With AMC
A lawsuit filed by an appraisal management company against a Midwest mortgage banker over unpaid appraisal fees has been settled just before jury deliberations.

Huge Profit, Increased Lending at Ditech
Fresh out of bankruptcy, Ditech Holding Corp. reported a huge profit and a quarter-over-quarter increase in home lending. The servicing portfolio, however, was diminished.

Fewer Consumers File Bankruptcy Last Month
On both a month-over-month basis and a year-over-year basis, the number of consumers who resorted to the bankruptcy courts last month moved lower.

BofA Sued Over Alleged Deception on HAMP Apps
Bank of America Corp. is facing a new lawsuit that accuses the financial services giant of misleading borrowers about loan modifications so it could acquire properties through foreclosure.

CA Supreme Court Addressing Excessive Rates
The outcome of a case being heard by the Golden State's highest court could have a big impact on lenders that charge high interest rates.

LO Sentenced for Fraud Short-Sale Scheme
A loan officer has been ordered to prison for her role in a scheme to defraud mortgage companies into agreeing to short sales. Her accomplices include attorneys.

Mortgage LO Sentenced to Prison
A New Jersey mortgage loan originator has been sentenced to hard time because of his role in a scheme involving $6 million in fraudulent residential loans.