Northwest MLS filed federal counterclaims accusing Compass’ pocket listing strategy of violating Washington consumer law and harming buyers and sellers.
West Capital Lending has sued loanDepot, accusing the California-based mortgage lender of engaging in a long-running compensation scheme that violates the Truth in Lending Act.
Unison, one of the nation’s leading providers of home equity investments, is facing a lawsuit from the National Association of Consumer Advocates, which alleges the company deceptively markets its product as a “no-debt” home equity alternative.
The class-action lawsuit filed this week against Rocket Companies and its subsidiaries has drawn heightened attention from the mortgage industry as a wave of mergers and acquisitions accelerates the push toward vertically integrated business models.
Detroit-based Rocket Companies was hit with a class-action lawsuit on Monday that accuses one of the nation’s largest mortgage lenders of steering consumers to their loan products, “even though Rocket Mortgage’s terms are disadvantageous to the clients.”
The state alleges that Hometap’s flagship home equity investment (HEI) product is an “illegal, deceptive, oppressive and unconscionable mortgage that violates the criminal usury statute.”