(Source: the Washington Post By Hayley Tsukayama) – Mortgage Electronic Registration Systems — the electronic database that is listed as the owner of millions of mortgages nationwide — said it is cooperating with a Delaware investigation of its business practices, [...]
(Source: Bloomberg By David McLaughlin) – Three states conducting their own probes of residential mortgage practices are resisting broad liability releases sought by banks to settle a nationwide foreclosure investigation.
(Source: Huffington Business) – There are some rumblings that the Department of Justice is putting the pressure on state attorneys general to sign onto the controversial $20 billion mortgage settlement deal this week that could release banks from legal claims [...]
BOSTON (Source: The Street By Joe Mont) – Hopeful homebuyers may soon need to shell out more money upfront before being approved for a mortgage.
LAS VEGAS (Source: 8NewsNow By Nathan Baca and Mark Mutchler) – The federal Justice Department is accusing Wells Fargo of illegally targeting African Americans with bad home mortgages. Now, a local attorney is launching a class-action lawsuit against the lender.
(Source: Fox News By Dan Gainor) – Left vs. right. Up vs. down. The debt ceiling battle has Americans unsure what direction the nation is headed. But lost somewhere betwixt and between are American homeowners, who may well lose no [...]
(Source: Fox 8 Live) – Foreclosures are on the rise in Louisiana and so are the number of scams targeting troubled homeowners. In the past month, at least a dozen consumers have contacted the FOX 8 Defenders reporting mortgage help [...]
(Source: The Philly Inquirer By Darran Simon) – A 23-year-old woman admitted Thursday that she filed more than 90 fradulent student-loan applications seeking more $1.7 million. The Browns Mills resident, who had taken only a handful of college courses, received [...]
(Source: KPSP Local 2) – It’s a major victory for California homeowners, who are underwater in their mortgages.
(Source: Seeking Alpha) – In an article earlier this week on TheStreet.com (“Hedge Against Market Risk With Default Servicers”), Glen Bradford considered the possibility of a 50% market decline:
(Source: Herald Tribune By Michael Braga) – A former Century 21 Advantage franchise in the region is shutting down amid allegations that its financially troubled broker has been using money from escrow accounts to pay agent commissions.
(Source: The Chicago Tribune by Al Heavens) – In the old days, if you were looking for a new place to live, you picked up the newspaper, looked at the real estate classifieds, put on comfortable shoes or gassed up [...]
(Source: The Motley Fool By Cindy Johnson) – Real estate. They’re not making any more of it. Demand is only increasing. Those arguments helped fuel an epic real estate boom and bust over the past decade — except when it [...]
(Source: Fox Business By Dawn Papandrea) – Are you facing monstrous credit card balances? Unfortunately, there is no quick-fix solution to get out of debt, despite what solicitors or infomercials might have you believe.
(Source: Huffington Post) – The Kentucky Attorney General filed suit Wednesday against a chain of for-profit colleges in the state, claiming that administrators at Daymar Colleges have consistently deceived students by making false promises about the ability to transfer course [...]
(Source: Chicago Tribune Gail MarksJarvis) – As you are preparing to go to college this fall, you might be preoccupied with choosing a computer or shopping for sheets that fit a dormitory bed.
(Source: Bloomberg By Karen Gullo) – Investors suing Bank of America Corp. (BAC) and more than a dozen other underwriters to force the buyback of $6.7 billion in downgraded mortgage securities have defeated efforts by the banks in pretrial skirmishes [...]
TOKYO (Source: The Wall Street Journal BY ATSUKO FUKASE) — A falloff in once-robust bond trading profits weighed on Japan’s top three banks in the April-June quarter with Mitsubishi UFJ Financial Group Inc. being the lone megabank to report net [...]
WASHINGTON (Source: The Boston Globe By Phil Mattingly and Peter Cook) – Bankers including Goldman Sachs Group chairman and chief executive Lloyd Blankfein and JPMorgan Chase & Co. chief Jamie Dimon called on President Obama and Congress to raise the [...]
NEW YORK (Source: TheStreet By Shanthi Bharatwaj) – Bank stocks continue to dig a deeper hole with every negative headline, but analysts feel investors may have hit bedrock.
(Source: New York Post By KAJA WHITEHOUSE) – It was a wild up-and-down day for Irving Picard, the court-appointed trustee chasing Bernie Madoff assets.
TOKYO, July 29 (Source: Reuters By Tim Kelly and Taiga Uranaka) – Lacklustre lending activity in Japan’s earthquake-ravaged economy and a shrinking retail investment business capped earnings of the country’s top banks and brokerages in the fiscal first quarter, raising [...]
WASHINGTON -(Source: MarketWatch By Alan Zibel)- An independent federal watchdog on Thursday questioned whether the Obama administration has done enough to punish mortgage companies for poor performance in its main loan-assistance program.
(Source: WCTV) – A Democratic state legislator joined the call Wednesday for information from Attorney General Pam Bondi on why she fired two assistant attorneys general who were heavily involved in investigating alleged mortgage fraud.
(Source: Bloomberg By Bob Van Voris) – UBS AG (UBSN) was sued by the U.S. over $4.5 billion in residential mortgage-backed securities sold to Fannie Mae and Freddie Mac as regulators went to court for the first time to recoup [...]
(Source: Reuters By Scot J. Paltrow) – MERS, the electronic mortgage registry that faces multiple investigations for its role in thousands of problematic foreclosure cases, changed its rules to lower its profile in court-supervised foreclosures.
EDEN PRAIRIE, Minn. (Source: by Karen Scullen / FOX 9 News) – Now that an Eden Prairie company offering home loan modifications has been busted by the Better Business Bureau, some Minnesotans are telling the alleged scammer to pay up [...]
(Source: By Tim McGlone The Virginian-Pilot) – A Virginia Beach man who ran a mortgage rescue company has been indicted on charges of bilking customers out of millions of dollars.
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