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Foreclosures news from FierceFinance
News
Citi to suspend foreclosures: Happy Holidays
Citigroup (C) has announced it will suspend foreclosures and evictions from Friday through Jan. 17. It's a nice gesture, one driven by PR as much as generosity. Kicking people out of their homes over... Read more...
Banks walking away from foreclosures
Foreclosures are not without costs for banks. It's a royal pain, especially in a declining market. So we shouldn't be shocked that more banks are simply walking away--refusing to take possession of a... Read more...
Administration launches mortgage plan
The next wave of home owner relief comes in the form of mortgage modification. The Obama Administration kicked off a plan that it hopes will help up to 9 million Americans. The program has two parts:... Read more...
Will more banks freeze foreclosures?
More than 274,000 U.S. households received at least one foreclosure-related notice last month, according to RealtyTrac. But that number may dip if more banks follow the lead of JPMorgan Chase and... Read more...
De facto nationalization of top banks bad for JPMorgan?
What is the greatest threat to JPMorgan Chase right now? The recession? The surge in consumer debt foreclosures? How about the creeping nationalization of its biggest competitors, Bank of America and... Read more...
Analyst: IndyMac program a bust
The IndyMac bailout was hailed by some, as the template the government would use to bailout other banks stuck with mortgage woes. But after a two-month state moratorium on foreclosures, IndyMac's... Read more...
JPMorgan expands loan modification program
To head off foreclosures of up to $70 billion in mortgages, JPMorgan Chase is expanding its loan adjustment program. It will open 24 regional counseling centers, hire 300 loan counselors, offer new... Read more...
Alt-A loans, the coming convulsion?
There is a subtle undercurrent of fear on Wall Street about Alt-A loans. JPMorgan has about $19.5 billion worth of exposure to Alt-A mortgages, and it likely is not alone. I would be surprised if... Read more...
ALSO NOTED: Merrill Lynch changes stock rating system; Merrill Lynch, Citigroup execs look to former colleagues for talent; and
Company News:> Freddie beats expectations. Article> More on the Clear Channel agreement. Read more...
Tougher times in Greenwich, Conn.
Among suburbs preferred by hedge funds and more than a few top Wall Street executives, Greenwich ranks high. So how is it faring as Wall Street reels? Well, not even Greenwich is immune to the real... Read more...
