Law and legal issues

The manufactured home loan lender, a unit of Berkshire Hathaway subsidiary Clayton Homes, was accused of ignoring red flags that sent many borrowers into bankruptcy, default and ultimately out of their homes.

Newrez's servicing arm approved an "obviously counterfeit" HELOC request from a bad actor totaling almost $500,000, a complaint claims.

The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.

The Florida-based brokerage The Okavage Group is challenging the dismissal of its antitrust suit against UWM, filing an appeal on Oct. 17 in the U.S. Court of Appeals for the Eleventh Circuit.

According to the litigation, a homeowner's Denver property was valued 25% less because of her race.

Los Angeles dispute resolution platform Ejudicate was banned by the Consumer Financial Protection Bureau for forcing borrowers into arbitration with an affiliated creditor.

Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve, which has not been profitable since 2022. The consumer bureau calls the new legal theory "meritless."

The lawsuit's conclusion ends fights by the rivals to depose each other's senior leaders.

The high court's much-anticipated ruling gives federal courts — rather than executive agencies — the power to interpret ambiguous statutes. The decision is expected to facilitate an increase in litigation over banking regulations.

The proposed class action suit claims the fintech lender purposefully pushed customers applying for HELOC loans into higher rates, or misrepresented rates at the beginning.