Tag:
mortgage
Latest Headlines
Latest Headlines
Barbara Desoer to step down at Bank of America
The perpetual crisis at Bank of America has claimed another big-name executive.
Barbara Desoer was once an executive on the rise, mentioned every now and then as a candidate to lead the bank some day. That was before the mortgage crisis and the disastrous Countrywide purchase rocked Bank of Am
MERS vs. country land registrars
In the heat of the foreclosure fiasco, MERS has been singled out for severe criticism by many stakeholders in the mortgage daisy chain.
We've certainly seen a lot of judicial activity around the country. It seems like a new court decision from state judges and bankruptcy judges are handed down
Eric Schneiderman: Folk hero
Eric Schneiderman, the AG of New York, has found himself become something of folk hero among the get-tough-on-banks crowd for his principled stand when it comes to negotiating a settlement with banks over their foreclosure practices.
Schneiderman has been kicked of the executive committee of t
The comprehensive state mortgage settlement is dead
The reality that the coalition of state attorneys general had frayed in their attempt to reach a settlement over mortgage practices with big banks had settled in long before California decided that it had had enough. Along with New York, it has now pulled out of the settlement talks.
Can othe
Banks and states return to the negotiating table today
Are we finally in for a breakthrough in the start-and-stop effort by banks and state AGs to settle claims of widespread mortgage and foreclosure fraud?
We've seen a lot of false starts, and the impasse has been portrayed as one not easily solved. The headlines--especially when New York was kic
Moral hazards emerge as home foreclosure delays get worse
This is a great time to be a mortgage deadbeat. You've probably heard of people who have stopped making payments on their mortgage but continue to live in the house and seem rather blasé about the whole thing. For such deadbeats, a perfect storm has allowed them to breathe easier than they would'v
Global Debt Registry aims to succeed where MERS failed
Whether you fundamentally believe that MERS has a legitimate role to the play in the mortgage sale process--and there are many vociferous critics right now--it would be hard to envision the industry going back to the pre-MERS days, when everything was done manually.
We can't go back to the
Standoff over MERS in California
The recent consent decree between federal agencies and mortgage lenders/servicers to settle shoddy foreclosure practices ended up affirming the legitimacy of MERS. Article VI of the bank settlement and separate settlement with MERS itself required remedial measures to shape up and end sloppy pract
Citigroup revenues continue to plunge
Citigroup ( NYSE: C ) beat analysts' estimates by a thin margin for the first quarter of 2011, reporting 10 cents a share. But there's plenty of reason for concern. The profit mainly reflected the release of funds previously set aside to cover bad debts; the banks released $3.37 billion in the q
Will the coming settlement prove disappointing?
People expect an announcement soon of a grand settlement between state attorneys general and federal regulators on one side and banks and mortgage services on the other. We've noted the vaunted 27-page settlement offer regulators sent banks a week or so ago.
We've also noted on a few occas
