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Pontiac-based United Wholesale Mortgage, now the nation's top mortgage lender, this week found itself in the crosshairs of a new activist hedge fund — on a mission to tank the company's stock ...
Key takeaways. In May 31,2023, the Consumer Financial Protection Bureau ordered OneMain Financial to pay $20 million for deceiving and misleading some 25,000 consumers.
Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
If you receive an official-looking letter from an out-of-state law firm asking you to fork over a hefty upfront fee to join a "mass joinder" lawsuit to force your mortgage lender to reduce your ...
Mortgage elimination is a type of mortgage fraud in the United States.In this scam, the promoter first convinces a mortgage holder that the debt that has been contracted is invalid or legally unenforceable, usually due to a combination of alleged technicalities in the note, deed of trust, or other loan documentation signed; the promoters often link their rationale for debt elimination to ...
AMG Capital Management, LLC v. Federal Trade Commission , 593 U.S. ___ (2021), was a U.S. Supreme Court case dealing with the ability of the Federal Trade Commission (FTC) to seek monetary relief for restitution or disgorgement from those that it found in violation of trade practices.
The fraud scheme was allegedly performed while Gallo and Elmas worked for NJ Lenders Corp., a New Jersey mortgage loans company. “NJ Lenders is proud of its 33 years of successfully assisting ...
Lightfoot v. Cendant Mortgage Corp., 580 U.S. ___ (2017), was a United States Supreme Court case that clarified whether Fannie Mae can be sued in state courts. [1] In a unanimous opinion written by Justice Sonia Sotomayor, the Court held that plaintiffs may file lawsuits against Fannie Mae in any state or federal court that is "already endowed with subject-matter jurisdiction over the suit."