Mortgage Banker CEO Sentenced to Prison
The former owner and chief of a New York mortgage banker has been sentenced to more than a dozen years in prison for selling fraudulent loans on the secondary market.
3rd Credit Bureau Settlement in 3 Months
Another settlement reached with a credit bureau marks the third such action in as many months and the third of the big three credit repositories to settle.
DOJ Files in Opposition to CFPB
The Department of Justice has weighed in on the lawsuit filed by PHH Corp.against the Consumer Financial Protection Bureau. At issue is the constitutionality of the bureau's structure.
MBS Settlement for $165 Million
Several pension funds are claiming victory in a lawsuit originally filed nearly a decade ago over alleged losses suffered from mortgage-backed securities investments.
Nationstar Hit With Small HMDA-Related Fine
Nationstar Mortgage LLC has been hit with a civil penalty, though the amount of the fine is minimal. The penalty is tied to noncompliance with the Home Mortgage Disclosure Act.
Walter Slashes Servicing, Swings to Profit
Losses turned to profits during the last quarter of 2016 at Walter Investment Management Corp. The mortgage servicing portfolio significantly declined.
Mortgage Broker, Stepson Banker Convicted
A mortgage broker and her stepson, who was a banker, have been convicted in federal court of defrauding the California bank where he worked.
Bank Settles Charges of Racial Discrimination
A bank operating from Rockford, Illinois, has settled allegations of racial discrimination against people who applied for residential loans.
Partial Victory for Quicken Loans in FHA Lawsuit
A federal judge granted Quicken Loans Inc.'s motion to dismiss on a portion of loans in the government's case based on the statute of limitations.
Nationstar Negotiating Settlement With CFPB
The parent of Nationstar Mortgage LLC is in the middle of negotiating a settlement with the Consumer Financial Protection Bureau.