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.
The Mortgage Firm allegedly engaged in discriminatory lending practices in predominately Black and Hispanic neighborhoods in the Miami-Fort Lauderdale-West Palm Beach metro area.
A Connecticut appeals court affirmed a trial court’s verdict that was in favor of the Connecticut Department of Banking revoking 1st Alliance Lending’s mortgage license.