Patrick-Murray administration announces home loan program for Massachusetts veterans

Jul 10, 2008

New Pennsylvania bill prohibits mandatory property insurance on value of land MortgagePress.comPennsylvania HB 2428, property insurance coverage, real property Pennsylvania House Bill 2428 became effective on July 4, 2008. The legislation prohibits a lender from requiring a borrower, as a condition of obtaining or maintaining a secured loan, to obtain property insurance coverage exceeding the replacement value of buildings and structures situated on the land used to secure the loan. Additionally, the legislation provides that a borrower on a loan secured by real property may not be required to insure the value of the land. The legislation, though in effect, has not yet been codified. Click here to view a copy of HB 2428.

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Jul 10, 2008

Courts

UWM's Motion To Dismiss RICO Class Action Denied As Moot

Plaintiffs' late August filing of an amended complaint means UWM must file a new motion to dismiss if it wishes to proceed with having the case thrown out.

A previous version of this article was published on Oct. 11, 2024, under the headline, "UWM's Motion To Dismiss RICO Class Action Denied". United Wholesale Mortgage (UWM) and the company’s CEO, Mat Ishbia, have had their motion to dismiss a class action lawsuit alleging ...

Regulation and Compliance

TD Bank Pleads Guilty To Enabling Money Laundering For Criminal Organizations

'TD Bank chose profits over compliance in order to keep its costs down,' said U.S. Attorney General Merrick Garland.

Today comes a tale of caution to banks and various lenders across the country that choose profits over compliance. TD Bank made history last Thursday by becoming the largest bank in the United States to plead guilty to violations of the Bank Secrecy Act (BSA) and conspir...