The lawsuit accuses Vanderbilt Mortgage of originating loans without making a reasonable, good faith determination of the borrower’s ability to repay the loan. The legal action is likely to be re-evaluated under a new CFPB director, according to Sheppard Mullin attorneys.
At press time, MFA's shares were up slightly on the day to $10.32 a unit. Its 52-week low is $9.36, its high $13.45.
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