Banks & Individuals Face Regulatory Actions
Several individuals -- including three who were convicted -- have been banned from working at federally insured financial institutions. More than 10 banks recently entered formal agreements with federal regulators.

The Federal Reserve Board issued a Prompt Corrective Action Directive (Docket No. 09-185-PCA-SM) on Nov. 9 against Orion Bank in Naples, Fla.

Formal agreements were reached between 11 institutions and their respective regulators.
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DocMagic Scores Win in Case Against Ellie Mae
DocMagic Inc. is touting a favorable ruling in a lawsuit against Ellie Mae Inc.

Inside Foreclosure Litigation
Borrowers in two states have gone to federal court to secure their piece of the government's loan modification program. In two more states, servicers are defending their right to use a third party to file foreclosures. Meanwhile, as a U.S. congresswoman calls for more lawsuits against lenders, two law firms are vowing to throw more litigation at mortgage servicers.

States Battle Foreclosure Firms
Texas and Florida are taking foreclosure firms to court. But a Nevada law firm has filed a lawsuit against state regulators over suggestions that its staff is not qualified to help borrowers who are facing foreclosure.

Mortgage Litigation Activity Tumbles
Firms that collected up-front fees for loan modifications pushed modification-related litigation to the forefront of the Third Quarter Mortgage Litigation Report from MortgageDaily.com. But overall mortgage litigation slowed significantly.

American Home Settles With Mass.
American Home Mortgage Servicing Inc. has reached a settlement with the Commonwealth of Massachusetts.

Mortgage Banker Abuses Warehouse Line
Instead of funding his loan originations, a Louisiana mortgage banker had other plans for his warehouse line-of-credit.

Mortgage Leads and More
Several recent offerings promise increased quality, quantity and return on mortgage leads, while two lead firms hope new owners will enhance their business. But one former lead generation operator -- who charged originators around $20 for each loan lead -- has been convicted for peddling worthless data.

American Home v. Ohio AG v. American Home
American Home Mortgage Servicing Inc. and Ohio Attorney General Richard Cordray are suing each other allegations of poor servicing practices.

Record Consumer Bankruptcy Filings
Monthly consumer bankruptcy filings reached a new high.