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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.

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April 16, 2021

Texas Supreme Court Throws the Industry a Lifeline

DS News--Robert D. Forster, II, Managing Partner, BDF Law Group

The Texas Supreme Court recently granted a lender's petition, finding that "equitable-subrogation rights become fixed at the time the proceeds from a later loan are used ‎to discharge an earlier lien" and that a “lender’s negligence in preserving its rights under its ‎own lien does not deprive the lender of its rights in equity to assert an earlier lien that was ‎discharged using proceeds from the later loan”.

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April 16, 2021

OFAC Notice of OFAC Sanctions Actions

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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April 14, 2021

Man Sentenced to Prison for Short-Sale Scheme

Mortgage Fraud Blog

David Litman of Illinois has been sentenced to two-year in federal prison for conspiracy to commit bank fraud and bank fraud in connection with a real estate short-sale scheme.

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April 14, 2021

Mob Associate Sentenced for Real Estate Fraud Scheme

Mortgage Fraud Blog

Stephen Sharkey of New Jersey was sentenced to four years and one month in prison for stealing more than $385,000 of down payments for homes from two different families.

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April 13, 2021

CFPB Takes Action Against SettleIt, Inc. for Steering Consumers into High-Cost Loans

The CFPB took action today against an online debt-settlement company for taking advantage of consumers, failing to disclose its relationship to certain creditors, and steering consumers into high-cost loans offered by affiliated lenders.

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April 13, 2021

OFAC Notice of OFAC Sanctions Actions

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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ACES Impact: ROI Infographic

ACES Impact: ROI Infographic

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April 13, 2021

OFAC Notice of OFAC Sanctions Actions

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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April 09, 2021

OFAC Notice of OFAC Sanctions Action

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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April 07, 2021

CFPB Takes Action Against Debt Collector And Its Owner For Falsely Threatening Consumers with Legal Action

The CFPB issued a consent order against a debt collector and its owner for harassing thousands of consumers, falsely threatening them with legal action.

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April 06, 2021

FDIC Consumer Compliance Supervisory Highlights

The FDIC published its annual overview of the consumer compliance supervision activities and
issues identified through supervision of state non-member banks and thrifts in 2020, highlighting fair lending concerns referred to the Department of Justice.

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Success Stories

Success Stories

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April 06, 2021

Florida Court Clarifies Evidentiary Requirements for Foreclosure Filings

DSNews--Nazish Shah, Senior Litigation Associate at Diaz Anselmo & Associates

The Florida Fifth DCA reversed a summary judgment of foreclosure finding a mortgage servicer failed to provide sufficient evidence of mailing of the demand letter prior to initiating foreclosure proceedings.

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April 02, 2021

FDIC Issues List of Banks Examined for CRA Compliance

The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in January 2021.

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March 31, 2021

OFAC Notice of OFAC Sanctions Action

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

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March 31, 2021

OFAC Notice of OFAC Sanctions Action

OFAC has published the names of additional persons that have been added to the Specially Designated Nationals and Blocked Persons List.

View Source