Mortgages
A federal judge dismissed with prejudice Loan Payment Administration LLC’s lawsuit against Marin County, which threatened to sue it for deceptive business practices in solicitation letters involving mortgage payments.
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Mortgage Malarkey
The Bureau of Consumer Financial Protection accuse Village Capital & Investment, of Henderson, Nev., in federal complaint of using bogus numbers to persuade veterans to refinance their mortgages.
Read moreTransit Authority’s Politics Ban Upheld by Judge
A federal judge found it constitutional Wednesday for transit officials in greater Philadelphia to block an advertising campaign that called out racial disparities in mortgage lending.
Read morePending Home Sales Tanked in October Amid High Mortgage Rates
Fewer people signed contracts to purchase new homes in October as higher mortgage rates continued to put the cost of such an investment out of reach of many would-be buyers.
Read moreDiscriminatory Lending
The Maryland counties of Montgomery and Prince George claim in a federal complaint that Bank of America, Countrywide Financial Corp., Merrill Lynch Mortgage Capital and others of discriminated against blacks in mortgage lending. They also brought a separate, similar complaint against Wells Fargo Bank.
Read moreJudge Hears Closings on Transit Authority’s Politics Ban
Railing against what he called “bipolar viewpoint discrimination,” a lawyer pushed a federal judge at closing arguments Thursday to find that the Southeastern Pennsylvania Transportation Authority capriciously applies its political-advertising ban.
Read moreMortgage Crisis
Deutsche Bank National Trust claims Countrywide Home Loans nka Bank of America owes it $253.5 million for breach of contract and warranties on pooled mortgage loans during the financial crisis, in L.A. Superior Court.
Read moreTransit Authority’s Politics Ban Puts General Counsel in Hot Seat
Defending a no-politics policy that took effect after an openly anti-Muslim group beat it in court, a lawyer for the Southeastern Pennsylvania Transportation Authority testified Monday that the agency was justified in blocking advertising about racial disparities in mortgage lending.
Read moreElderly Widow Says Imminent Eviction Violates HUD Policy
An 85-year-old whose late husband took out a reverse mortgage on their home claims in a federal complaint that the U.S. Department of Housing and Urban Development is trying to evict her.
Read moreInvestors Lose Fight Over Fannie, Freddie Profits
The Eighth Circuit ruled Thursday that the federal government’s diversion of Fannie Mae and Freddie Mac profits to the U.S. Treasury Department after the 2008 housing collapse did not illegally shortchange shareholders.
Read moreProsecution in Manafort Trial Aims to Rest Friday
With just four witnesses left to take the stand, prosecutors for Special Counsel Robert Mueller said Thursday they expect to rest their fraud case against former Trump campaign chair Paul Manafort this week.
Read moreAirbnb Exec Details Manafort’s Haul With SoHo Condo
In the same month that Paul Manafort was seeking a mortgage on his Manhattan apartment, the condominium’s Airbnb rental listing was deactivated, a witness from the travel website confirmed Thursday on the witness stand.
Read moreWells Fargo to Pay $2.09 Billion for Selling Faulty Mortgages
Wells Fargo Bank, N.A. will pay $2.09 billion under the Financial Institutions Reform, Recovery, and Enforcement Act to settle claims it knowingly originated and sold residential mortgages it knew contained misstated income information, the Justice Department said Wednesday.
Read moreMerrill Lynch Whacked
Merrill, Lynch, Pierce, Fenner & Smith will pay $15.7 million — $10.5 million to customers and $5.2 million in penalties — for misleading customers into overpaying for residential mortgage-backed securities, the SEC said Tuesday.
Read moreMortgage Fees
A $5 million federal class action claims that Seterus, a mortgage servicer, charges illegal fees for paying online.
Read moreEighth Circuit Hears Dispute Over Mortgage Profits
The Eighth Circuit heard arguments Tuesday over whether the diversion of Fannie Mae and Freddie Mac’s profits to the U.S. Treasury Department after the 2008 financial crisis illegally stiffed shareholders.
Read moreCourt Rules Investors Can’t Claim Post-Bailout Mortgage Profits
In a ruling Thursday, the Seventh Circuit upheld the Federal Housing Finance Agency’s authority to divert Fannie Mae and Freddie Mac’s future profits to the U.S. Treasury Department as a condition of their $188 billion bailout during the 2008 financial crisis.
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