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- Strategic Default and Credit Cards in CaliforniaForum: Stop Foreclosure and Tell Us Your Story Posted By: WalnutCreek Homeowner Post Time: 01-27-2012 at 10:15 AM […]
- Chase HAMP Trial Mod Communication QuestionForum: Chase Mortgage - Tell Us Your Chase Story Posted By: Sunnyfish Post Time: 01-27-2012 at 09:38 AM […]
- Can you get a loan mod if you have 200,000 in equity ?Forum: Chase Mortgage - Tell Us Your Chase Story Posted By: Saritas Post Time: 01-27-2012 at 08:50 AM […]
- BOA Has put my loan into foreclosure - ConnecticutForum: Stop Foreclosure and Tell Us Your Story Posted By: Housebroken13 Post Time: 01-27-2012 at 08:41 AM […]
- Questions about settling 2ndForum: Debt Settlement Posted By: johnmrob Post Time: 01-27-2012 at 01:09 AM […]
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- GreenTree 1st and 2nd do I have a chance to settle 2ndForum: Stop Foreclosure and Tell Us Your Story Posted By: busterbully Post Time: 01-26-2012 at 08:20 PM […]
- Can they change my 2nd mortgage into a Personal Loan and garnish my wages for it?Forum: Stop Foreclosure and Tell Us Your Story Posted By: I'm So Tired Portland Ore Post Time: 01-26-2012 at 06:11 PM […]
- Short sale success!!! My perceived keys to success!!!Forum: Short Sale Outpost Posted By: jdubbs Post Time: 01-26-2012 at 03:55 PM […]
July 2011
Wells Fargo To Pay $85M Over Mortgage Abuses
(Source: By Michael Winter, USA TODAY) – Wells Fargo has issued a statement on its website indicating that it will “reinforce oversight of mortgage lending practices” and also move toward providing compensation to customers who were harmed by alleged mortgage [...]
FTC Reports 450,000 Countrywide Borrowers Get Refund Checks
NEW YORK, July 20 (Source: Reuters By Jonathan Stempel) – More than 450,000 borrowers overcharged by the Countrywide mortgage lender when they fell behind or defaulted on their home loans are receiving refund checks under last year’s $108 million settlement [...]
Banks’ Mortgage Servicing Falls Short, Connecticut Says
(Source: Bloomberg By David McLaughlin) – Connecticut Attorney General George Jepsen is seeking meetings with four U.S. lenders to discuss their foreclosure practices, saying they are failing to devote sufficient resources to servicing mortgages.
States Negotiating Immunity For Banks Over Foreclosures
NEW YORK, July 20 (Source: Reuters By Scot J. Paltrow) – State attorneys general are negotiating to give major banks wide immunity over irregularities in handling foreclosures, even as evidence has emerged that banks are continuing to file questionable documents.
Mortgage Default Rates Keep Falling
(Source: The Wall Street Journal By Matthew Strozie) – The contradictions of the current housing market are many, including the continued drop in mortgage defaults despite the hobbled economic recovery and widespread drops in housing prices.
Genworth Posts Loss on Mortgage Insurance
(Source: Bloomberg By Andrew Frye and Noah Buhayar) – Genworth Financial Inc. (GNW), the Richmond, Virginia-based insurer, reported a second-quarter loss on “worsening trends” in its mortgage-guarantee business. The shares fell after the announcement.
Sallie Mae’s Profit Exceeds Estimates as Student Loan Originations Rise
(Source: Bloomberg By Sarah Mulholland) – SLM Corp. (SLM), the student lender known as Sallie Mae, reported earnings that exceeded estimates as it increased loan originations and delinquencies declined.
Buyers Denied Loans to Get Free Credit Scores
(Source: Bloomberg By Ryan Mac) – U.S. consumers denied a credit card or auto loan will be entitled to free copies of their credit scores starting today.
The New Private Student Loan Sheriff Gets to Work
(Source: Higher Ed Watch Stephen Burd) – Starting Thursday, there will be, for the first time, a single federal agency in charge of regulating private student loans. The new Consumer Financial Protection Bureau (CFPB) replaces a patchwork of government agencies [...]
College Graduates Grapple With Burden Of Student Loans
(Source: Yes Weekly By Keith Barber) – Despite growing up poor on Barney Avenue in Winston- Salem’s Southside neighborhood, James “Scooter” Scott was determined to become the first person in his family to go to college. Considering the seemingly insurmountable [...]
Fifth Third Profits Increase 2.5 Times, Loan Losses Drop Modestly
CLEVELAND, Ohio (Source: By Teresa Dixon Murray, The Plain Dealer) – Fifth Third Bank joined other regional banks in reporting a huge increase in quarterly profits, although loan problems didn’t decline as much at Fifth Third as they have at [...]
OCC Preemption, SEC ‘Big’ Participants, Taiwan: Compliance
(Source: Bloomberg By Carla Main) – The U.S. agency that oversees national banks released rules governing when federal regulations should trump state law, revising language that was faulted for ignoring the aims of the Dodd-Frank Act.
Spanish Banks Bankia, Civica Sell Shares Amid Crisis
July 21 (Source: Bloomberg) — Nicole Itano reports on share sales by Bankia SA and Banca Civica SA as part of Spanish efforts to shore up capital amid Europe’s sovereign debt crisis. ¶ Owen Thomas also speaks on Bloomberg Television’s [...]
Moody’s Economist: Gov’t Must Rescue Housing
NEW YORK (Source: MainStreet By Brian O’Connell) — Moody’s Analytics’s chief economist Mark Zandi says it’s time to stop fooling around with the housing market and take some aggressive – and historical – steps to keep Americans in their homes. [...]
Gold ‘Fever’ Could Bring an ‘Earthquake’
(Source: Resource Investor Mark O’Byrne) – Gold is trading at $1,599.41/oz, €1,127.77/oz and £989.06/oz.
McGraw Files Suit Against Calif. Loan Modification Co.
CHARLESTON — West Virginia Attorney General Darrell McGraw’s office has taken action against a California-based company for alleged fraudulent loan modification claims.
17 News Investigation: Homeowner Challenges Bank
(Source: 17KGet) – A Bakersfield homeowner is taking on a bank, in a battle that could have sweeping implications for people facing foreclosure.
Chase Opens Homeownership Center Near Fort Hood
KILLEEN, Texas, Jul 20, 2011 (Source: MarketWatch) – Continuing its support of military personnel and their families, Chase has opened its newest Homeownership Center near Fort Hood to provide one-on-one help for homeowners struggling with their mortgage payments.
Man Admits $40.8M Mortgage Fraud Involving Crest Oceanfront Condos
CAMDEN (Source: capemay county herald By Herald Staff) — For the second time in a week, federal law enforcement officials issued releases regarding individuals implicated in alleged multi-million dollar mortgage frauds involving seashore real estate in Cape May County.
Indictments Accuse 7 of Big Mortgage Fraud
(Source: Sacramento Bee By Rick Daysog) – A federal grand jury has indicted a Sacramento real estate executive and six of his employees for allegedly running a $4 million mortgage-fraud scheme.
Former WexTrust Capital COO Sentenced 262 Months in Prison for Real Estate Investment Fraud Scheme
(Source: FBI) – PREET BHARARA, the United States Attorney for the Southern District of New York, announced that JOSEPH SHERESHEVSKY, a former Chief Operating Officer of the private equity firm WexTrust Capital, LLC (“WexTrust Capital”), was sentenced today to 262 [...]
Big Banks Are Still Faking Home Loan Documents
(Source: Bnet By Alain Sherter) – After getting caught last year falsifying legal documents as part of conducting illegal foreclosures, big banks promised never to do it again. In April, more than a dozen large mortgage servicers also signed agreements [...]
Lawmakers Call For Hearings On Robo-Signing
NEW YORK (Source: MICHELLE CONLIN, AP Business Writers, PALLAVI GOGOI, AP Business Writers) — Lawmakers and enforcement agencies called for hearings and further investigation Tuesday after learning that the illegal practice known as robo-signing has continued in the mortgage industry.
Fake Documents Suggest Bigger Problem
(Source: Reuters By Scot Paltrow) – Action in March by federal bank regulators wasn’t enough to scare banks away from the way they handled foreclosures. Reuters found that big banks that service mortgage loans continue to use robo-signers, file false [...]
Mortgage ‘Robo-Signing’ Goes On
(Source: AP Associated press By MICHELLE CONLIN) – Mortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices that led [...]
Mortgage Loophole Allows TX Man to Purchase Mansion for $16!
(Source: Gather) – Wanna own a mansion? They’re going for 16 bucks a pop in Texas… if you can keep the neighbors from burning down the house. One mortgage scofflaw in Texas is finding that out… the hard way.
Evidence In Dumpster Indicates Foul Play In Florida Woman’s Disappearance
(Source: Nancy Grace) – Police continued searching waterways and wetlands near the home of a missing Pembroke Pines real estate agent Tuesday after finding evidence that they say suggests foul play.
Shadow System Will Flourish as Banks Are Constricted
(Source: American Banker Eugene A. Ludwig) – Regardless of where one comes down on the desirability of any one of the raft of new regulations mandated by the Dodd-Frank Act, there is no question that their cumulative impact will be [...]
US Banks: What a Lousy Investment
(Source: IFR Keith Mullin) – Goldman Sachs and Bank of America, which both reported Q2 numbers yesterday, have, along with the rest of the industry, taken a beating in the stock market this year. GS’s earnings clearly weren’t what the [...]
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