On April 2, 2024, a putative class action was brought against United Wholesale Mortgage (UWM) alleging, among other claims, violations of Section 8(a) of the Real Estate Settlement Procedures Act (RESPA). The lawsuit contains...more
6/10/2024
/ Class Action ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement Actions ,
Financial Services Industry ,
HUD ,
Kickbacks ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgages ,
Putative Class Actions ,
RESPA ,
Wholesale
In September 2023, the Consumer Financial Protection Bureau (CFPB) issued guidance on the use of artificial intelligence in issuing credit denials, a prevalent practice among lenders. The CFPB explained that when...more