Legal fiction. (lawsuits against mortgage lenders)(Regulatory Affairs)(Cover Story)Pfeifer, Michael RGustafson, Kay Virginia
Moseley replied that mortgage companies had refused to endorse the checks. He said MMA has filed 20 lawsuits against mortgage lenders in an attempt to negotiate the uncashed checks. Federal court records confirm that those lawsuits were filed against multiple mortgage companies. One example is MMA’...
According to banking professional Paul Hancock, the Home Mortgage Disclosure Act (HMDA) data designed for all lenders show differences among the race and national origin of lenders.CollinsBrianNational Mortgage News
Another innovative suit filed in January 2008 was brought by Cleveland Mayor Frank Jackson against 21 major investment banks, for enabling the subprime lending and foreclosure crisis in his city. The suit targeted the investment banks that fed off the mortgage market by buying subprime mortgages from...
Crisis Plays Out at Smallest Lenders… Wolf Richter Dec 28, 2023 at 1:16 am FT year-end recap article of GLOBAL layoff “announcements” in 2023. In the US, layoffs were mostly the mortgage bankers because the refi business totally collapsed (...
Paul Clement, a lawyer for Aearo, urged a three-judge panel of the 7th U.S. Circuit Court of Appeals in Chicago to reverse a bankruptcy court order allowing the lawsuits to move forward against 3M, even though Aearo is bankrupt.
Issues with financial institutions—including banks, credit card issuers and mortgage lenders—occur when consumers are not properly informed about the fees and other risks associated with their accounts or when the financial institution fails to uphold its end of a contract. Examples of consumer banki...
Reports that yield-spread premium lawsuits against mortgage lenders could be revived due to the motion granted by the United States Court of Appeals 11th Circuit for a class certification in the case...
Reports that yield-spread premium lawsuits against mortgage lenders could be revived due to the motion granted by the United States Court of Appeals 11th Circuit for a class certification in the case of 'Culpepper vs. Irwin Mortgage Corp.' Mortgage brokers' right to earn a yield-spread premium...
[??] While no proactive measure short of paying overtime can eliminate the risk, banks and mortgage companies should revisit the actual duties of loan officers in the changing market to ensure there is a legitimate basis to classify such employees as exempt.Fife, Joan B. Tucker...