Tag Archive

What the foreclosure settlement means for you

Published on April 16, 2012 By admin

The following article by Les Christie at Money.CNN.Com. NEW YORK (CNNMoney) — The $26 billion foreclosure settlement has finally been given the green light, making it possible for roughly two million of the nation’s hardest hit borrowers to see a significant reduction in their mortgage payments. Agreed to between the nation’s five largest banks and […]

Bank Officials Cited in Churn of Foreclosures

Published on March 21, 2012 By admin

The following article is brought to you by Nelson D. Schwartz at NYTimes.Com. Managers at major banks ignored widespread errors in theforeclosure process, in some cases instructing employees to adopt make-believe titles and speed documents through the system despite internal objections, according to a wide-ranging review by federal investigators. The banks have largely focused the […]

Chase, Wells Fargo Mortgage Fee Abuse Class Action Lawsuit

Published on March 1, 2012 By admin

The following article is brought to you by Sarah Pierce at TopClassActions.Com. Wells Fargo and JPMorgan Chase have been hit with a class action lawsuit alleging that the two lending giants cheated hundreds of thousands of borrowers who were late on mortgage payments by charging excessive and abusive default fees. The class action lawsuit claims […]

Wells Fargo Seeks to End Mortgage-Repurchase Duties as Trustee

Published on February 29, 2012 By admin

The following article is brought to you by Jody Shenn at Bloomberg.Com. Wells Fargo & Co. (WFC)’s mortgage-bond trustee division is planning to hand its duties to investigate soured home loans and pursue lender repurchases to other companies, in a move meant to address the appearance of conflicts of interests, an executive said. The country’s […]

Schneiderman alleges mortgage fraud in suit against banks

Published on February 7, 2012 By admin

The following article is brought to you by Cara Matthews at Politics On The Hudson Attorney General Eric Schneiderman filed a lawsuit today against Bank of America, J.P. Morgan Chase Bank, Wells Fargo and Virginia-based MERSCORP Inc. and its subsidiary, Mortgage Electronic Registration Systems Inc., charging that a private electronic-mortgage registry system (MERS) they developed […]