A group of mortgage borrowers have filed a third amended class action complaint against Wells Fargo over loan-modification issues dating back to 2010. Processing Content The latest action in Curry, et al. v. Wells Fargo Bank NA reiterates allegations related to Wells Fargo miscalculations around the cost of loss mitigation for multiple borrowers, but focuses […]
Wells Fargo faces amended class action loan-mod complaint Read More »
Key insight: Fifth Third and Comerica’s shareholders both blessed the companies’ proposed merger, but the two banks are still embroiled in a legal battle with an activist investor. What’s at stake: If the deal crosses the finish line, it will be one of the largest bank mergers of the last decade. Forward look: The banks
Fifth Third-Comerica deal easily wins shareholder approval Read More »
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 »
New York Court of Appeals judges’ responses to recent arguments in a closely-watched Foreclosure Abuse Prevention Act case suggest they could take a narrower view of the law’s retroactivity but are less open to broad constitutional challenges to it. Recent questions from the New York judges focused more on case details than the constitutional issues,
Judges’ questions may hint at limits to FAPA’s retroactivity Read More »
The Supreme Court has declined to review a challenge to retroactive interpretation of a New York law that applies a new statute of limitations to foreclosures. The high court turned down without explanation a petition for a writ of certiorari in the case US Bank National Association, Trustee v. Cassandra Fox, marking the end of
Supreme Court rejects petition on New York foreclosure law Read More »
A group of homeowners filed a class action lawsuit against the largest homebuilding company in the United States and its mortgage lending subsidiary over money they lost in an alleged deceptive mortgage scheme. D.R. Horton and DHI Mortgage targeted prospective homebuyers with affordable monthly payment plans, but the company low-balled the true costs and excluded
Homeowners sue D.R. Horton over hidden mortgage costs Read More »
Two, the real estate investment trust that owns Roundpoint Mortgage Servicing, is anticipating legal expenses that some analysts say could lead to asset sales. The REIT expects a $198.9 million charge for May that includes a $139.8 million fee as a contingency liability and $60 million in related expenses due to the lawsuit with its
Two expects $198.9M charge from external manager lawsuit Read More »
Texas Capital Bank followed through with its planned appeal of a federal district court ruling in a lawsuit with Ginnie Mae over Home Equity Conversion Mortgage assets, according to a new filing. TCB filed a brief notice this week that it has moved the fight against the government corporation to the 5th U.S. Circuit Court
TCB appeals ruling for Ginnie Mae in lawsuit over collateral Read More »