WASHINGTON, D.C. - (AP) Bank of America will pay $108 million to settle federal charges that Countrywide Financial Corp., which it acquired nearly two years ago, collected outsized fees from borrowers facing foreclosure. It's the latest evidence of... Read More

WASHINGTON, D.C. - (AP) Federal bank regulators have sued three former top executives of Washington Mutual, the biggest U.S. bank ever to fail, accusing them of negligence in allowing risky mortgage lending. The Federal Deposit Insurance Corp. filed the... Read More

WASHINGTON, D.C. - (AP) Federal bank regulators say they are close to settling their civil lawsuit against three former top executives of Washington Mutual accused of negligence in allowing risky mortgage lending at the biggest U.S. bank ever to fail... Read More

NEW YORK - (Mealey's) The U.S. government on Oct. 24 filed a $1 billion lawsuit against Bank of America Corp., as successor for Countrywide Financial Corp., alleging that Countrywide violated provisions of the False Claims Act by engaging in a scheme... Read More

WASHINGTON, D.C. - (Mealey's) The U.S. Department of Justice (DOJ) announced Feb. 9 that the federal government, attorneys general from 49 states and five national banks have reached a $25 billion settlement to resolve issues stemming from the lenders'... Read More

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Oct. 11 agreed to review a 2-1 ruling from the Fifth Circuit U.S. Court of Appeals finding that Quicken Loans Inc. did not violate the Real Estate Settlement Procedures Act (RESPA) when it charged... Read More

WASHINGTON, D.C. - (Mealey's) A unanimous U.S. Supreme Court on May 24 upheld a Fifth Circuit U.S. Court of Appeals majority decision to award summary judgment to Quicken Loans Inc. after finding that plaintiffs must show that parties split fees from... Read More

NEW YORK - (Mealey's) Citigroup Inc. on Feb. 15 agreed to pay $158.3 million to resolve a lawsuit brought by the federal government accusing the bank of failing to comply with Housing and Urban Development and Federal Housing Administration regulations... Read More

WASHINGTON, D.C. - (Mealey's) In what the Federal Trade Commission is calling one of the "largest judgments imposed in an FTC case, and the largest mortgage servicing case," two Countrywide mortgage servicing companies will pay $108 million... Read More

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on June 20 decided that it would review a Ninth Circuit U.S. Court of Appeals ruling that a woman had standing to bring a suit against her title insurer for alleged violations of the Real Estate... Read More

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Oct. 1 denied a couple's petition for a writ of certiorari seeking review of a Fifth Circuit U.S. Court of Appeals ruling that affirmed the dismissal of their suit accusing a loan servicer... Read More

SAN FRANCISCO — (Mealey’s) The Charles Schwab Corp. has agreed to a $200 million settlement of a securities class action lawsuit brought against it and certain of its executive officers and directors by investors alleging that the defendants... Read More

DALLAS -- A surge in legal actions tied to foreclosures and investors-related cases helped push the Mortgage Litigation Index to an all-time high during the first quarter. Criminal cases more than doubled and mortgage insurance is emerging as an area... Read More

TRENTON, N.J. - (Mealey's) A unanimous New Jersey Supreme Court on Aug. 2 found that two title insurance companies cannot be held liable for an attorney's misappropriation of a couple's closing funds for a home sale because no agency relationship... Read More