Foreclosure Laws

AG Targets Mortgage Flaws

(Source: Boston Herald By Jerry Kronenberg) – Massachusetts Attorney General Martha Coakley slammed a private network used by lenders for loan trading as she launched a far-reaching probe into whether banks violated state property-recording laws during the housing boom — [...]


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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.


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JPMorgan to Cut Mortgage Holdings to ‘Close to Zero’

(Source: Bloomberg By Dawn Kopeck) – JPMorgan Chase & Co. (JPM) is winding down its $154 billion mortgage portfolio to “close to zero” as the bank works through mortgage losses and litigation over loan- servicing and foreclosure practices.


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Consumer Bureau Official: Mortgage Servicing Problems ‘Pervasive and Profound’

(Source: Wall Street Journal By Maya Jackson Randall and Alan Zibel) – Fixing the mortgage-servicing market, which has been plagued with allegations of shoddy home-foreclosure practices, will be one of the new Consumer Financial Protection Bureau’s main priorities, a top [...]


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New Mortgage Rules Give Advantage to Lenders

(Source: The Morning Call) – The past few weeks, I have been looking at foreclosures, short sales or homes that need to be fixed up. After the initial mortgage crisis, our wise government started with all kinds of new rules [...]


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Banks May be Sued if Foreclosure Negotiations Fail

CHICAGO (Source: By David McLaughlin Bloomberg News) — Banks negotiating with state attorneys general over foreclosure practices would be sued if a settlement isn’t reached, two of the state officials leading the talks said.


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Banks Will Be Sued If Foreclosure Talks Collapse, Two States Say

June 21 (Source: Bloomberg) — Two state attorneys general who are among those leading negotiations with the five largest U.S. mortgage servicers over their foreclosure practices said the banks would be sued if a settlement isn’t reached.


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Madigan and Other Attorneys General Meet with Banks on Foreclosure Practices

(Source: WJBC By: Nick Gale) – Illinois Attorney General Lisa Madigan is one of several attorneys general from across the nation in Chicago this week, in negotiations with the top five U.S. mortgage servicers over foreclosure practices. The San Francisco [...]


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BofA Targeted as States Step up Pressure in Foreclosure Probe

NEW YORK (Source: By David McLaughlin, Dawn Kopecki and Margaret Cronin Fisk Bloomberg News) — Bank of America Corp. faces increased pressure from the Utah and Connecticut attorneys general to change its mortgage-servicing and foreclosure practices as states said the [...]


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