Search Results: Mortgage

Whalen and Swank Published in September 2016 issue of Mortgage Banking for Article: “Servicing Remains an Enforcement Target”

Goodwin’s Mike Whalen, a partner in the Technology Group and co-leader of the Fintech practice; and Levi Swank, an associate in the Financial Industry and Consumer Financial Services Litigation practices, were published in the September 2016 issue of Mortgage Banking for their article, Servicing Remains An Enforcement Target.  The article…

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Massachusetts AG Settles With Insurance Company Over Allegedly Improper Force-Placed Insurance

On September 7, 2016, the Massachusetts Attorney General announced a settlement with an insurance company requiring “refunds for Massachusetts homeowners whose mortgage lenders wrongly force-placed the consumers with [the insurance company] despite the fact that the consumers already had home insurance with other companies, as well as consumers who were…

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Massachusetts AG Settles with Force-Placed Insurance Company

On September 7, 2016, the Massachusetts Attorney General (“AG”) announced that it reached a settlement with a Massachusetts force-placed insurance company relating to allegations that it improperly charged homeowners for insurance. According to the Massachusetts AG, mortgage lenders improperly provided homeowners with duplicative force-placed insurance policies through the subject insurance…

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Massachusetts DBO Enters Into Consent Order with Mortgage Lender Over Pre-Disbursement Interest Charges

On August 12, the Massachusetts Division of Banks made public its second quarter enforcement actions, including a consent order that it had entered into on April 21 with a California-based mortgage lender and broker concerning its alleged practice of charging borrowers per diem interest between the funding date of the loan and the date the funds…

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CFPB and DOJ Propose $10.6 Million Settlement in Discriminatory Lending Action

On June 29, the Consumer Financial Protection Bureau (CPPB) and Department of Justice (DOJ) announced a joint enforcement action against a regional bank for alleged discriminatory mortgage lending in violation of the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA), filed in the District Court for the…

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Department of Housing and Urban Development Announces Settlement with National Bank over Alleged Discriminatory Lending Practices

On June 8, 2016, the Department of Housing and Urban Development (HUD) announced it entered into a settlement agreement with a national bank over allegations the bank engaged in discriminatory lending practices in violation of the Fair Housing Act. According to HUD, the bank discriminated against African American, Latino American and…

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