Tag Archives: lawsuits

Financial Freedom Agrees to $89 Million Settlement

Financial Freedom Settles Alleged Liability for Servicing of Federally Insured Reverse Mortgage Loans for $89 Million By Jeff Sorg, OnlineEd Blog (May 17, 2017) (US Dept. of Justice, May 16, 2017) – Financial Freedom has agreed to a settlement with the United States of more than $89 million to resolve allegations that it violated the […]

Zillow to Pay $130 Million to NAR’s Move, Inc.

Move, Inc. and Zillow Reach Settlement Agreement By Jeff Sorg, OnlineEd Blog (June 7, 2016) – The National Association of REALTORS is reporting in a press release that Zillow Group, Inc. has agreed to a settlement amount of $130 million in damages instead of going to trial to settle a 2014 lawsuit alleging misappropriation of trade secrets. […]

Owners and Property Managers Agree with HUD to Pay $630,000 for Discrimination Suit

HUD Announces agreement to resolve allegations that property owners used rental screening policies that prevented applicants with mental disabilities from renting By Jeff Sorg, OnlineEd Blog (May 16, 2016) – The U.S. Department of Housing and Urban Development (HUD) announced today that it has reached a $630,000 agreement with a group of Illinois property owners and a […]

Bank Agrees to Pay $64 Million to Resolve Alleged Liability Arising from FHA-Insured Mortgage Lending

The settlement resolves allegations that M&T Bank failed to comply with certain FHA origination, underwriting and quality control requirements. By Jeff Sorg, OnlineEd Blog (May 16, 2016) – M&T Bank Corp. (M&T Bank) has agreed to pay the United States $64 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting […]

HSBC Agrees to Pay $470 Million to Settle Mortgage Abuse Allegations

The settlement reflects a continuation of enforcement actions to hold financial institutions accountable for abusive mortgage practices By Jeff Sorg, OnlineEd Blog (February 5, 2016) – The Justice Department, the Department of Housing and Urban Development (HUD) and the Consumer Financial Protection Bureau, along with 49 state attorneys general and the District of Columbia’s attorney general, have […]

Deutsche Bank to Face US Lawsuit for $3.1 billion

Bank to answer for allegations of toxic residential mortgage backed securities By Jeff Sorg, OnlineEd Blog (February 4, 2016) -A federal judge ruled on yesterday that Deutsche Bank must face a US lawsuit seeking to hold it liable for causing $3.1 billion  of investor losses by failing to properly monitor 10 trusts backed by toxic residential mortgages. “Plaintiff’s […]

Judge Says Gov. Brown and Legislature Illegally Raided Homeowners Fund

(Jeff Sorg, OnlineEd) SF Gate is reporting that a judge has ruled Gov. Jerry Brown and the Legislature illegally raided a state fund that was created to help distressed homeowners and took $331 million to balance the budget. The article alleges that money was taken from a fund that contained California’s share of a $5 […]

Standard and Poor’s / McGraw Hill Financial Reach $1.375 Billion Settlement With DOJ

(Jeff Sorg, OnlineEd) – Attorney General Eric Holder recently announced that the Department of Justice has reached an agreement totaling nearly $1.4 billion with the credit rating agency Standard & Poor’s Financial Services, or S&P – along with its parent corporation, McGraw Hill Financial. This agreement will resolve the Justice Department’s 2013 lawsuit against S&P, in […]

Lender to Pay $4.2 Million to Settle Alleged False Claims Act Violations

(Jeff Sorg, OnlineEd) –  A Southfield mortgage lender has agreed to pay $4.2 million to resolve allegations that it violated the False Claims Act in its origination of loans backed by the federal government. GTL Investments, Inc., doing business as John Adams Mortgage Company (JAMCO), reached agreement with the U.S. Attorney’s Office for the Eastern District of Michigan […]