Tag Archive

Banks Win Reprieve on Home Equity Loans in Settlement

Published on February 29, 2012 By admin

The following article is brought to you by Kathleen M. Howley at Bloomberg.Com. Bank of America Corp. (BAC), Wells Fargo & Co. (WFC) and three other banks that settled a nationwide probe of foreclosure practices this month will get a bonus from the deal: protection for $308 billion of home-equity loans they hold. The banks […]

Another Hit: Banks Get Slammed With $949M Lawsuit

Published on February 29, 2012 By admin

The following article is brought to you by FoxBusiness.Com. JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp.and more than a half dozen other major banks are being hit with a new lawsuit over $949 million in residential mortgage-backed securities. A summons was filed Tuesday by Sealink Funding Ltd, an Irish entity that oversees […]

Banks Paying Cash to Homeowners to Avoid Foreclosures

Published on February 7, 2012 By admin

The following article is brought to you by Prashant Gopal at Bloomberg.Com Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe. Lenders have routinely delayed or blocked such transactions, known as short […]

Citi, JPMorgan Report Lowest Revenue Since ’08

Published on January 22, 2012 By admin

The following is brought to you by Donal Griffin, Dakin Campbell and Michael J. Moore at Bloomberg.Com Citigroup Inc. (C) joined JPMorgan Chase & Co. (JPM) in posting its lowest revenue since the height of 2008’s financial crisis as trading slumped. Wells Fargo & Co.’s revenue slid less as core lending businesses improved. Citigroup said […]