Lenders Settlement

News & Analysis as of

CFPB and DOJ Reach $24 Million Settlement with Indirect Auto Lender to Resolve Discriminatory Pricing Allegations

On July 14, the CFPB and DOJ announced a $24 million settlement with an indirect auto lender to resolve allegations that the lender offered higher interest rates to minority borrowers compared to white borrowers with a...more

New York Attorney General Announces Settlement with Large Payday Lender

On January 24, 2014, New York Attorney General Eric Schneiderman announced that a settlement had been reached with Western Sky Financial, LLC, Cash Call, Inc., WS Funding, LLC, and their principals for alleged violations of...more

CMBS Pre-negotiation Agreements

Pre-negotiation agreements ("PNA’s") are contractual arrangements in which a lender and a distressed borrower agree to negotiate the terms of a potential workout or settlement. The primary purpose of a PNA is to foster an...more

After One Year, Judgment Can Only Be Set Aside for Extrinsic Fraud

On February 25, 2010, an agreed final judgment of foreclosure was entered pursuant to a settlement agreement between the original lender and the defendants/appellees. ...more

$2.8 Million First NLC Settlement

Fall-out from the subprime and Alt-A mortgage crisis continued recently with court approval of a multi-million dollar settlement of a lawsuit filed against former top officers of what had been one of the country’s leading...more

Bill on Bankruptcy: What's in the $83M ResCap Examiner's Report?  [Video]

May 29 (Bloomberg) -- The examiner in the Residential Capital bankruptcy has charged approximately $83 million to create his report, but it remains under seal. Berkshire Hathaway has asked the judge to unseal the report...more

Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk  [Video]

May 22 (Bloomberg) -- AMF Bowling Worldwide Inc. and Ahern Rentals Inc. are prime examples of the frothy market where junk-bond investors are fearless in the face of risk, as Bloomberg Law's Lee Pacchia and Bloomberg News...more

CFPB announces settlement of four enforcement actions against mortgage insurers

The CFPB announced the settlement of enforcement actions brought in federal district court in Florida against four national mortgage insurers involving allegations that the insurers paid kickbacks to mortgage lenders in...more

Florida Gets $8.6 Million in New $120 Million National Robo-Signing Settlement with Lender Processing Services

This morning, Florida's Attorney General Pam Bondi announced that Florida - along with another 45 state Attorneys General have made a bargain with Lender Processing Services, Inc. (LPS) which ends the investigations in...more

Fannie Mae Obtains Comprehensive Settlement Of Repurchase Claims Against Major Lender

On January 7, Fannie Mae and a national bank announced a comprehensive settlement to resolve all outstanding and future repurchase requests on nearly all single-family loans originated by the bank (and other lenders it later...more

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