mortgage
Securities Fraud
Nomura Securities International will pay $25 million to settle two related complaints of failing to supervise traders in mortgage-backed securities, the SEC said.
Read moreCity Fights $750K Verdict Tied to Violent Sheriff’s Auction
Hit with a $750,000 verdict in favor of a man whom officers tackled and Tasered at a sheriff’s sale, Philadelphia fought at the Third Circuit on Monday for a reversal.
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Manafort Pleads Not Guilty to State Charges of Mortgage Fraud
Already convicted federally on a host of financial crimes, former Trump campaign chairman Paul Manafort pleaded not guilty Thursday to related criminal charges by New York authorities.
Read moreReal Estate
A federal judge granted a motion to compel discovery from the Real Estate Law Center, which New Mexico accuses of advertising mortgage relief and sought fees in violation of the Mortgage Assistance Relief Services Rule.
Read moreMortgages
A federal judge remanded to state court some claims in which CMG Mortgage is accused of failing to modify the homeowners’ loan after they obtained $100,000 in mortgage assistance from the Keep Your Home California state program.
Read moreWells Fargo
Reviving fair-housing claims, the 11th Circuit ruled that Miami plausibly alleged Wells Fargo’s discriminatory mortgage-lending practices injured the tax base, resulting in “a disproportionate and excessive number of defaults by black and Latino homebuyers.”
Read moreMorgan Stanley Coughs Up $150M for California Pension Losses
More than a decade after the bottom fell out the U.S. economy and the housing market tanked, multinational investment company Morgan Stanley has agreed to pay California $150 million to settle claims the company hid the riskiness of mortgage-backed securities sold to the state’s public employee pension funds.
Read moreCalifornia Ordered to Return $331 Million to Troubled Homeowners
In February 2012, with California still reeling from the Great Recession, then-state Attorney General Kamala Harris delivered a bit of good news to Gov. Jerry Brown: The nation’s largest mortgage banks had agreed to pay the state $410 million directly for their role in the subprime mortgage fiasco.
Read moreLawyers Duck Debt-Collector Liability at Supreme Court
A law firm that carried out a nonjudicial foreclosure against a homeowner who defaulted on his loan does not qualify as a debt collector, the U.S. Supreme Court ruled Wednesday.
Read moreIn Manhattan Prosecution, Manafort and DA Confront Their Pasts
That Paul Manafort committed crimes within Manhattan borders is by now indisputable. What divides experts, however, is whether the new state charges unveiled against the former Trump campaign chair can withstand a double-jeopardy challenge.
Read moreMortgage Rates
The average rate on the benchmark 30-year, fixed-rate mortgage rose to 4.46 percent, Freddie Mac said Thursday, marking a boost from 4.45 percent last week and from 4.22 percent a year ago.
Read moreUS Home Price Growth Slowed in October
U.S. home price growth slowed in October, a likely consequence of higher mortgage rates having worsened affordability and causing sales to fall.
Read moreMortgages
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.
Read moreMortgage 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.
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