Bank Will Pay $31 Million After Discriminating Against Black And Latino Communities The United States Department of Justice has reached a $31 million settlement with City National Bank in a historic housing discrimination case. City National, based in Los Angeles,...
Mortgage company Academy Mortgage Corporation (Academy), based in Draper, Utah, has agreed to pay $38.5 million to resolve allegations it violated the False Claims Act by improperly originating and underwriting mortgages insured by the Federal Housing Administration (FHA). Source -...
IRVINE, Calif., Dec. 21, 2022 /PRNewswire/ -- In a significant legal victory for loanDepot ("LDI") (NYSE: LDI), the United States District Court for the Northern District of Illinois (the "Court") yesterday granted LDI a preliminary injunction against CrossCountry Mortgage, LLC and six former loanDepot employees now...
UWM filed a lawsuit against America’s MoneyLine, alleging that the high-volume California-based brokerage owes UWM $2.8 million after repeatedly violating the “All-In” Initiative. Read More at https://nationalmortgageprofessional.com/news/uwm-sues-broker-shop-sending-loans-rocket-and-fairway Article by Katie Jensen FEB 07, 2022
Two NEXA Mortgage Loan Officers Brian Noe NMLS 228140 and Eileen Pruitt NMLS 217979 who are currently being sued by Smart Mortgage Centers in State and Federal court have filed a class action lawsuit against former employer Smart Mortgage Centers. ...
HousingWire, Dec. 16, 2020–James Kleimann In a lawsuit filed last week, Smart Mortgage claimed one of its former loan officers stole a database containing client names and information and brought it with him to a new job at NEXA Mortgage....
As fears about the coronavirus are reaching an all-time high, mortgage rates are reaching record lows. According to Mortgage News Daily, interest rates for standard 30-year fixed mortgages reached 3.33% as of Tuesday, the lowest in about eight years. Rates...
Buying a home isn’t always as clear-cut as applying for a mortgage, getting approved, and moving in. In fact, it rarely is. If you have a unique financial situation, getting approved for a traditional Qualified Mortgage (QM) may be challenging....
Caps on loans from Fannie Mae and Freddie Mac, as well as those insured by the Federal Housing Administration (FHA), have been raised in 2020. According to the Federal Housing Finance Agency (FHFA), maximum conforming loan limits on single-family homes...
If you’ve been looking into buying a home, you may have been learning the hard way that having “good” credit is important to lenders. But what do you do if your credit isn’t so great? Read on to learn ways...
