Legal Issues

Browse articles from all of our Newsletters related to Legal Issues.

March 11, 2019 - Inside the CFPB

Kraninger’s First Lawsuit on CID, What Does it Mean?

The CFPB last month filed its first lawsuit under the leadership of Kathy Kraninger. Interestingly, the lawsuit seeks to enforce a 2017 civil investigative demand that was issued under former Director Richard Cordray. Industry stakeholders read it as a possible harbinger of a shift in the bureau’s enforcement actions from those of Kraninger’s predecessor Mick Mulvaney. …

March 8, 2019 - Inside MBS & ABS

NY High Court Rules on Two Residential MBS Cases

The New York State Court of Appeals on Feb. 15 issued mixed rulings on two claims brought by a trustee against a seller and sponsor of three residential MBS trusts.

February 25, 2019 - Inside the CFPB

CFPB, Florida Ask Court to Merge Their Ocwen Suits

The CFPB and Florida regulators last week asked a federal court to merge their lawsuits against mortgage servicer Ocwen Financial Corp. in order to avoid the risk of future jury inconsistency and to reduce their respective burden.

February 15, 2019 - Inside FHA/VA Lending

Wells Fargo, Sierra Agree to Resolve FHA-Related Claims

The U.S. District Court for the Northern District of California has approved a class-action settlement between borrowers and a large bank to resolve allegations of illegal and unfair collection of post-payment interest on FHA-insured mortgages.

February 14, 2019 - Inside Mortgage Finance

Ocwen Escalates Charges in Lawsuit Against FIS

Ocwen Loan Servicing on Wednesday filed an amended complaint in its lawsuit againstFidelity National Information Services. The complaint, filed in California’s Superior Court in Sacramento, dramatically escalates accusations of misconduct Ocwen first leveled against FIS in a 2017 lawsuit.

February 14, 2019 - Inside Mortgage Finance

CA Court Certifies LOs’ Class Action Against Wells

A federal district court has certified a class-action lawsuit against Wells Fargo brought on behalf of loan officers for alleged clawback of commissions and overtime wages.

February 11, 2019 - Inside the CFPB

Other News in Brief

CFPB Updates Reference Chart for 2019 HMDA Data Collection; CFPB Sued for Withholding Records on its Decision to Stop Military Lending Act Supervision; CFPB Clarifies Participation in ‘Disclosure Sandbox.’


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