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.
Large RMBS Settlement at HSBC
The U.S. subsidiary of HSBC Holdings plc is near a large settlement with the government over its role in the issuance of pre-crisis residential mortgage-backed securities.
Consumer Bankruptcy Filings Slowest in Five Months
A modest reduction in the number of monthly bankruptcies that were filed by U.S. consumers left the pace of filings at its lowest level in five months.
NV Super Lien Decisions Benefit Mortgage Firms
In August 2017, we saw the first controlling decision published by the Ninth Circuit Court of Appeals concerning the application of the Housing and Economic Recovery Act of 2008 in the context of a Nevada homeowners' association non-judicial foreclosure sale. Berezovsky v. Moniz, 869 F.3d 923 (9th Cir. 2017).
Former Lehman Unit Fined for Fraud
The former mortgage servicing subsidiary of Lehman Brothers Holdings Inc. has been fined for allegedly enabling fraudulent loans to make it through the system.
Wells Fargo Reaches $2 Bil Subprime RMBS Settlement
More than two years after revealing a government investigation into how it handled sales of subprime residential mortgage-backed securities, Wells Fargo & Co. has agreed to a more than $2 billion settlement.
HouseCanary Fires Back at Amrock's Fraud Accusations
HouseCanary is firing back at accusations made by Amrock Inc. that it used fraud to obtain a massive judgment -- suggesting Amrock might be behind stalking of HouseCanary employees.
Fraud Alleged by Quicken Affiliate in Huge Lawsuit
A valuation affiliate of Quicken Loans Inc. is accusing HouseCanary of using fraud to obtain a more than $700 million verdict in an ongoing lawsuit.