Tag:
Foreclosures
Latest Headlines
Latest Headlines
Mortgage settlement discussions drag on
Will we ever get a mortgage settlement?
Once again the folks negotiating a multi-billion dollar legal settlement with top banks and mortgage servicers are waxing optimistic about the likelihood of a deal. A group of states attorney generals met in Chicago to hash out the latest offer on the ta
Bank of America's consumer unit slow to progress
Even though Bank of America has ceded the title of largest consumer bank in many areas, its consumer mortgage unit is still the largest in the industry, by dint of the disastrous Countrywide purchase in 2008. But can the bank be seen as proxy for the entire consumer mortgage economy?
Perhaps n
Banks still "forging" mortgage documents?
Has anything really changed in the mortgage industry, despite a lot of political rancor about some dubious practices that banks said have been cleared up?
The American Banker has weighed in with an investigation that has found "some of the largest mortgage servicers are still fabricating d
Study: Foreclosures associated with rising medical visits
A huge issue for banks right now is the liability they face for botched mortgages and faulty foreclosures.
A bevy of private plaintiffs and government agencies have sued for some sort of compensation. Most suits are seeking putbacks, but in the case of the Federal Housing Finance Agency, which
Fed blasts Goldman Sachs over Litton practices
Long before Goldman Sachs sold Litton to Ocwen Financial on September 1, 2011, it had been trying to offload the property.
In its mind, its experiment in building a supply chain for MBS-backed products couldn't end soon enough. Merrill Lynch and others got burned pretty badly by buying up mort
Bank of America improving post-snafu processes?
When you've purchased a mortgage company as large Countrywide, you will without a doubt take on a lot of problems. There will be mistakes, and they will be embarrassing when they make it into the headlines.
Bank of America has learned this the hard way when it comes to wrongful foreclosures an
MERS changes to survive
We noted recently that it looks like MERS will survive. But it will certainly not be the same firm that caused some much controversy over the last few years.
The firm, of course, was designed to ease the paper burden of secondary market mortgage sales-the DTCC of the mortgage-backed market-bu
Bank of America seeks immunity deal
By dint of its ill-fated purchase of disgraced consumer mortgage company Countrywide Financial, Bank of America is perhaps the key player in the byzantine movement to hammer out a broad settlement between banks and servicers on one hand and state and federal regulators and prosecutors on the other
Woman protests BofA foreclosure decision, gets results
Bank of America's brand has been tarnished during the foreclosure fiasco, in part because of negative media that has dogged the bank for the past three years. Local newspapers love local angles on big national stories, and the foreclosure fiasco was in many ways tailor-made for them.
For local
Banks "donating" foreclosed slum properties for demolition
In too many cases, big banks and servicers have been transformed into slum lords, owning property that they can't rent and certainly can't sell. The property just sits there, blighted and moldy.
Recall that the city of Los Angeles sued Deutsche Bank in May, charging that it has become one of t
