D.C. Attorney General Brian Schwalb announced on June 12 that two apartment landlords will pay a total of $1.4 million and change their business practices as part of separate settlements that resolve allegations that the companies conspired with other landlords to use pricing software from RealPage, Inc., to inflate rents at over 50,000 apartment units throughout D.C.
The D.C. Circuit Court of Appeals denied the Consumer Financial Protection Bureau’s request to fast-track its modified reduction in force order but agreed to remand the matter back to the district court on June 19.
On June 3, Richard Cunningham, a real estate developer who was formerly employed by D.C. Housing Authority, pleaded guilty in connection with a scheme to defraud private mortgage lenders of over $15 million.
California Attorney General Rob Bonta announced his office reached a $4.6 million settlement with Select Portfolio Servicing, resolving allegations that the company broke California’s Homeowner Bill of Rights and federal mortgage servicing laws during the pandemic.
President Donald Trump has nominated Brian Johnson to serve as the permanent director of the Consumer Financial Protection Bureau for a five-year term. Johnson spent more than two years in senior leadership roles at the bureau during Trump’s first term before leaving for the private sector.
The California Department of Financial Protection and Innovation (DFPI) announced on June 9 that over 1,800 consumers who were victims of a multiyear mortgage fraud scheme will soon receive refunds totaling nearly $3 million. DFPI, along with the Federal Trade Commission, secured a court order against Green Equitable for falsely promising to reduce homeowner’s mortgage payments and prevent foreclosure during the pandemic.
The Department of Housing and Urban Development Assistant Secretary for Fair Housing and Equal Opportunity (FHEO) Craig Trainor issued a memo to FHEO staff, rescinding 2020 guidance that classified emotional support animals as reasonable accommodations under the Fair Housing Act.
On May 29, the Federal Housing Administration published a request for information in the Federal Register regarding single-family minimum property requirements which have “long supported the safety and soundness of the single-family homes the agency insures,” seeking to modernize the program.
U.S. District Court judge in California granted final approval of a $110 million settlement resolving a lending and hiring discrimination lawsuit against Wells Fargo. Under the settlement agreement, Wells Fargo will create a $100 million borrower assistance fund for mortgage assistance.
The Federal Housing Administration (FHA) announced that it is making enhancements to FHA Connection to streamline internal processes for case number assignments for units in condominium projects eligible for single-unit approval.
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