The trial in the case of PHH Corp. v. CFPB is set to begin Tuesday. This is a landmark case because it is the first time in the almost five-year history of the CFPB that a company has judicially challenged a penalty handed down by the Bureau.
Read More »Supreme Court Rejects Banks’ Request to Review FDIC Suit
The FDIC claimed in the suit that Goldman Sachs, Deutsche Bank, and Royal Bank of Scotland misrepresented the quality of $2 billion worth of mortgage-backed securities it sold in 2004 and 2005.
Read More »Shareholder to Fannie Mae and Freddie Mac: Show Me the Corporate Records
The sweeping of Fannie Mae and Freddie Mac profits into Treasury has prompted several lawsuits from investors. But the lawsuits filed by shareholder Tim Pagliara are the first of their kind.
Read More »Quicken Still Fighting Government’s Lawsuit Over FHA Loans
The most recent controversy from this case involves where the case should be tried.
Read More »Did the 9th Circuit Just Signal Victory for GSE Investors?
The Ninth Circuit Court of Appeals affirmed a decision by a lower court that Fannie Mae and Freddie Mac are "private companies." What will the ruling mean, if anything, for the pending lawsuits by GSE investors who claim the Net Worth Sweep is illegal?
Read More »Banks Come Out Winners in RMBS Case
For the most part, when being investigated over their pre-crisis residential mortgage-backed securities practices, the nation’s largest banks have come out having to pay billions of dollars in settlements and penalties.
Read More »Ex-Fannie Mae Boss Mudd Pushes for Dismissal of SEC’s Fraud Suit
The SEC sued six former GSE executives in 2011 over subprime mortgage fraud. The other five have all reached settlements; why is Mudd taking his case all the way to trial?
Read More »Freddie Mac Drops Suit Against Deloitte
The GSE filed the suit in September 2014 accusing the accounting firm of "gross negligence" regarding the auditing of certain mortgage loans Freddie Mac purchased from Taylor Bean & Whitaker before the housing crash.
Read More »DOJ Settles With Bank Over Alleged Discriminatory Lending
The Department's complaint, which originated from a referral by the Federal Deposit Insurance Corp., says that from January 2011 through May 2014, Sage Bank originated mortgage loans to about 550 African-American and Hispanic borrowers.
Read More »Citi Investors Sue Bank for Billions Over Faulty RMBS
Did Citi deliberately ignore breaches in several billion dollars worth of residential mortgage-backed securities?
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