January 2, 2019 / 9:44 PM / 9 months ago

PennyMac sued over credit reporting of modified mortgages

California-based PennyMac, one of the country’s largest mortgage lenders, has been hit with a proposed class action accusing it of misreporting mortgage loans to credit bureaus after the loans were modified, hurting homeowner’s credit standing.

Filed on Sunday in Trenton, New Jersey federal court by Virginia residents Dana and Jennifer Harris, the lawsuit also names as defendants the three major credit bureaus, Equifax Information Services, Experian Information Solutions and TransUnion. Only individual and not class claims were brought against the credit bureaus.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2LNgRn7

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