SitusAMC is gearing up for a legal battle over the fallout of its data breach last fall, as eight class action complaints have been consolidated in federal court. Processing Content The cases quickly piled up after the industry vendor revealed in November that it suffered a cybersecurity incident. The company has emphasized no encryption nor […]
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Union Home Mortgage says it paid a ransomware gang to delete sensitive data they stole in a cyberattack last year. Processing Content The nonbank lender made the admission last month in federal court, part of a motion to dismiss a class action lawsuit from borrowers affected by the hack. The company also described how the
Union Home Mortgage says it paid ransom in data breach case Read More »
While the fourth quarter’s mortgage fraud risk rate fell 55 basis points from the prior three months, loans submitted during the period had a record average issues per transaction, the Fundingshield Wire Fraud Risk Report found. Processing Content The last three months of 2025 was a period where a near 9% increase in volume from
Record defects plague mortgage closings as fraud risk dips Read More »
The Justice Department failed again to secure a grand jury indictment against New York State Attorney General Letitia James over mortgage fraud claims. Prosecutors have been seeking to renew charges against James after a federal judge dismissed a case against her last month, saying that the prosecutor, Lindsey Halligan, the U.S. Attorney for the Eastern District
DOJ again fails to indict James for alleged mortgage fraud 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
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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. Processing Content Former employee Rebekah Hardy sued Evolve last month in a Texas federal court for negligence, for failing to protect consumers’ data in a breach
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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 »
Borrowers are slamming yet another mortgage lender with class action lawsuits after it revealed a data breach last month. Troy, Michigan-based Towne Mortgage did not say in a public notice how many of its customers were impacted in a June incident, in which a hacker may have copied data from its network. The attack compromised
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A trade group representing private lenders has created a database to identify high-risk counterparties prior to funding real estate loans. The National Private Lenders Association has launched the NPLA Watchlist to help real estate lenders, brokers and service providers spot individuals or entities that may warrant caution — or even avoidance — in order to
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A federal grand jury is examining the handling of the mortgage fraud investigation into Sen. Adam Schiff of California according to a subpoena to a witness in the case. The subpoena was sent to Republican activist Christine Bish, who appeared before the grand jury in Maryland Nov. 20. It asked her for any communications and
DOJ examining handling of Schiff mortgage investigation Read More »