The Consumer Financial Protection Bureau (CFPB) has filed a claim of deception against a non-bank mortgage company that allegedly misled veterans by overstating the benefits of refinancing.
According to the lawsuit, the Nevada company hired a team of loan officers to staff a new Texas office to generate loans through in-home visits to veterans.
Read on to find out details of the proposed settlement, which would require a civil penalty and redress to consumers.
A Wisconsin couple who fought to stay in their foreclosed home sued their servicer for damages, claiming their attorney fees were directly related to Wells Fargo Bank’s alleged RESPA violations stemming from a qualified written request (QWR).
A circuit court recently affirmed a district’s court previous decision granting the servicer’s motion to dismiss the claims for out-of-pocket expenses or emotional distress damages.
Read on for highlights of the appellate court’s opinion.
A Missouri woman who was denied a loan modification sued her servicer for RESPA violations for allegedly failing to investigate her claims of forgery and correct any errors in servicing.
Nationstar Mortgage, LLC argued the plaintiff failed to identify any RESPA violation because the statute does not require a servicer to retroactively review and grant loan modification requests or correct damage to a borrower’s credit rating.
Read on to see a federal judge’s decision.
A settlement is being made available to class action members in a lawsuit alleging Emery Federal Credit Union engaged in a kickback scheme with the defunct Genuine Title, LLC.
The settlement benefits will be funded by Emery and administered by a court-appointed settlement administrator through a common fund. The settlement was proposed in 2017 and approved in January 2018 before being finalized in the fall.
Read on for more details of the settlement, which awarded $2.7 million in attorneys’ fees.
A Texas man sued his servicer because he submitted his complete loss mitigation application more than 40 days before a foreclosure sale.
His servicer claimed RESPA obligations did not arise because the scheduled date at the time the loss mitigation application was received should control over the actual date of the foreclosure sale.
Read on to discover why a federal judge agreed with the defendant.
A Michigan magistrate judge previously recommended that a borrower’s RESPA allegations involving a notice-of-assignment claim be allowed to move forward against a servicer.
However, U.S. District Judge David M. Lawson recently ruled that Magistrate Judge Mona K. Majzoub improperly denied a motion to dismiss the claim against Rushmore Loan Management.
Read on for highlights of the judge’s ruling, which upheld other aspects of the magistrate’s prior recommendations on the RESPA claims.
Nationwide Biweekly Administration has filed its first brief in its appeal of a civil penalty and injunction levied against it in a case brought by the Consumer Financial Protection Bureau (CFPB).
Among the company’s many complaints is that the bureau’s structure is unconstitutional.
Read on for more details from the brief, which argues against a $7.93 million fine against the Ohio company and an injunction from certain practices in how it uses competitive advertising.
An executor of a borrower’s estate sued the deceased’s servicer after the home went into foreclosure, alleging RESPA violations for not compliantly responding to qualified written requests (QWRs).
The servicer argued the plaintiff was not an agent of the borrower and thus had no legal standing to bring the claims.
Read on to see why a New Jersey district court denied the servicer’s motion to dismiss the RESPA claims.
A Ninth Circuit Court of Appeals judicial panel is the latest to weigh in on the Federal Communication Commission’s (FCC) definition of prohibited “autodialer” equipment.
The appellate court determined that an autodialer, under statutory language, includes any “device that stores telephone numbers to be called.” That definition could render a cell phone, for example, an autodialer subject to regulations under the Telephone Consumer Protection Act.
Read on to see details from the Ninth Circuit’s opinion and industry reaction to its potential impact on lenders and servicers.
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