Legal News

This topic consolidates everything you need to know to stay informed including prominent industry advocacy movements, current regulatory enforcement actions, and judicial rulings impacting mortgage banking.




August 21, 2018

HUD doubles down against discrimination practices

HousingWire--Kelsey Ramírez

The U.S. Department of Housing and Urban Development is doubling down on charges it is bringing against housing companies for discrimination.

This week, HUD brought charges against or settled with housing companies in Massachusetts, California and South Dakota.

Monday, HUD announced it was charging Massachusetts housing providers with discriminating against residents with disabilities. It charged Granby, Massachusetts-based property owner Pleasant Valley Estates and...

Read more

August 21, 2018

Judgment Against RE Agent Impacts Mortgage Firms

Mortgage Daily--Sam Garcia

Agent negligently passed along fraudulent wiring instructions

A recent decision in a federal lawsuit has a real estate agent liable for negligently passing on fraudulent wiring instructions. The case has implications for mortgage lenders. A buyer in a real estate transaction was tricked into wiring funds for a home purchase from an email message that came that from the...

Read more

August 20, 2018

Feds undertake one of the biggest mortgage fraud probes since the financial crisis

Mortgage Professional America--Ryan Smith

Federal authorities are undertaking one of the largest mortgage-fraud investigations since the financial crisis. The probe focuses on whether income from commercial properties was falsified in order to get larger mortgages, and has already led to indictments against four New York real estate executives.

Loans that the executives were involved in totaled about $170 million, according...

Read more

ARMCO Mortgage QC Industry Trends Report

August 20, 2018

MBA Advocacy Update

MBA Newslink--Steve O'Connor, Bill Killmer

The Senate was back in session last week to consider judicial nominations and Fiscal Year 2019 funding bills.   

This Thursday, the Senate Banking Committee will vote on Bureau of Consumer Financial Protection Director nominee Kathy Kraninger and Ginnie Mae President nominee Michael Bright--with speculation the Bright nomination may receive floor action before month's end. 

The...

Read more

August 20, 2018

Facebook responds to HUD’s housing discrimination allegation

Housingwire--Ben Lane

Monday Morning Cup of Coffee takes a look a news coming across HousingWire’s weekend desk, we more coverage to come on larger issues.

In case you missed it late Friday, the Department of Housing and Urban Development accused Facebook of allowing landlords and homeowners to discriminate against prospective renters and buyers based on their race, color, religion, sex, familial status, national origin, disability...

Read more

August 18, 2018

HUD accuses Facebook of enabling housing discrimination

HousingWire--Ben Lane

Facebook allows landlords and property owners to discriminate against prospective renters and buyers based on their race, color, religion, sex, familial status, national origin, disability, or other factors, the U.S. Department of Housing and Urban Development said Friday.

After months of investigations into Facebook’s ad practices, HUD officially filed a housing discrimination complaint against the social media giant, alleging that the...

Read more

August 17, 2018

Court enters summary judgment in favor of bank in wrongful foreclosure action

Buckley Sandler, LLP--InfoBytes Blog

On August 3, the U.S. District Court for the District of Massachusetts entered summary judgment in favor of a national bank regarding a mortgage borrower’s allegations that the bank engaged in, among other things, predatory lending, wrongful foreclosure, and violations of Massachusetts’ unfair or deceptive practices (UDAP) law. As to the wrongful foreclosure claim, the borrower alleged that...

Read more

ACES Intelligent Questionnaires

August 17, 2018

CFPB urges court for final judgment in order to appeal constitutionality determination

Buckley Sandler, LLP--InfoBytes Blog

On August 10, the CFPB submitted a request to the U.S. District Court for the Southern District of New York for a pre-motion conference to discuss approval to file a motion requesting entry of final judgment with respect to the court’s June decision, which would allow the Bureau to appeal that decision. As previously covered by InfoBytes, the court...

Read more

August 17, 2018

Court holds RESPA loss mitigation claim is ripe prior to a foreclosure sale

Buckley Sandler, LLP--InfoBytes Blog

On August 14, the U.S. District Court for the Northern District of Illinois held that RESPA (and its implementing Regulation X) does not require a plaintiff to wait until a property is foreclosed upon to bring an action for a violation of Regulation X’s loss mitigation requirements. The plaintiff filed a complaint against her mortgage servicer for (among...

Read more