A California judge granted United Wholesale Mortgage‘s motion to dismiss a class action by borrowers over allegedly disclosing personal and financial information to third parties, like Meta and Google. Processing Content The plaintiffs, Ethan Allison and Mark Caloca, filed the initial complaint in June, but the judge ultimately agreed Sunday with UWM, who said the […]
Judge dismisses disclosure class action against UWM Read More »
A federal judge has certified a class of borrowers in a pay-to-pay lawsuit against Dovenmuehle Mortgage, opening the servicer to a larger legal battle with potentially thousands of consumers. Processing Content U.S. Chief District Judge Catherine C. Eagles granted George Custer’s motion for class certification last week, after he filed his complaint in April 2024.
Dovenmuehle pay-to-pay plaintiffs win class certification Read More »
A key Senate leader is requesting records surrounding the cancellation of second mortgages following the Great Financial Crisis and asking whether the loans were sold to collections agencies in violation of a major legal settlement. Processing Content In a request sent to the independent monitor responsible for oversight of the 2012 National Mortgage Settlement, Sen.
Warren probes whether banks sold forgiven ‘zombie’ seconds Read More »
California Attorney General Rob Bonta’s office countered a lawsuit from lenders this week, arguing a new zombie seconds law doesn’t bar certain foreclosures outright.Eric Lee/Bloomberg Lenders are raising a host of arguments to halt California’s new zombie seconds law, which they say will freeze the secondary mortgage market. Processing Content The California Mortgage Association and
California law hurts secondary mortgage market, lenders say Read More »
Andrea Joy Campbell, attorney general of the Commonwealth of Massachusetts, at a forum in Boston, Massachusetts. Photographer:Mel Musto/Bloomberg Rithm affiliate Newrez has entered into a settlement with Massachusetts Attorney General Joy Campbell that resolves allegations related to its status as a successor by merger to Specialized Loan Servicing. Processing Content “This settlement resolves a several-years-old
Newrez settles SLS allegations with state attorney general Read More »
New York became the latest state to officially enact legislation that outlaws the practice known as Non-Title Recorded Agreements for Personal Services or NTRAPS, which threatens senior citizens with loss of their homes. Processing Content Gov. Kathie Hochul signed the bill into law after it passed the New York State Legislature with wide bipartisan support
New York becomes latest state to outlaw NTRAPs Read More »
A former Fannie Mae data scientist manager says the company recently fired him shortly after he requested leave following a house fire. Processing Content William Bowser sued his former employer Sunday for violating labor laws, including the Family and Medical Leave Act, over his termination last month. The professional is also seeking unspecified back pay
Ex-Fannie Mae data scientist alleges wrongful termination Read More »
Title insurers may face more paperwork and larger compliance costs next year as a federal court is leaning toward allowing a new reporting rule to go into effect. Processing Content U.S. Magistrate Judge Samuel J. Horovitz recommended this week to the case’s presiding judge to grant the government’s motion for summary judgment, in a challenge
Court backs tougher reporting rule for title firms Read More »
A class action lawsuit claims a ransomware gang stole more than 20 terabytes of information from vendor Evolve Mortgage Services in a purported incident the company has not disclosed. Former employee Rebekah Hardy sued Evolve last month in a Texas federal court for negligence, for failing to protect consumers’ data in a breach which allegedly
Evolve faces suit over massive data theft Read More »
CrossCountry Mortgage is attempting to recoup $2.1 million from an ex-branch manager currently battling federal charges. Christopher J. Gallo was indicted last year for fraud for allegedly falsifying home loan documents over a five-year stretch while at a prior employer. The Cleveland-based retail giant hired the former top producer in September 2023 and fired him
CrossCountry seeks $2.1 million from LO accused of fraud Read More »