A federal judge significantly narrowed but refused to dismiss a lawsuit accusing Wells Fargo & Co., the third-largest U.S. bank, of predatory mortgage lending targeting black and Hispanic borrowers in the Chicago area.
Could predatory lending practices affecting veterans also be inflating interest rates paid by thousands of unsuspecting homebuyers using FHA loans?
The Consumer Financial Protection Bureau took action today against real estate settlement services provider Meridian Title Corporation for steering consumers to a title insurer owned in part by several of its executives without making disclosures about the businesses’ affiliation.
Federal officials plan to crack down on what they view as predatory lending schemes – reminiscent of the toxic practices seen during the housing boom – targeted at thousands of veterans nationwide who have VA home loans.
Quicken Loans arguably has the mortgage industry’s squeakiest-clean image, So it might come as surprise that a federal district court last week levied nearly $11 million in fines and damages against the company for an alleged appraisal tampering scheme by Quicken during the housing boom and bust years in West Virginia.
The city of Philadelphia sued Wells Fargo & Co. on Monday, accusing the largest U.S. mortgage lender of predatory lending, which violates the federal Fair Housing Act.
The U.S. Supreme Court ruled 5-3 Monday that under the Fair Housing Act (FHA) municipalities can sue lenders whose predatory lending practices harm them.
