Tag Archive

NY mortgage fraud may top $100M

Published on September 1, 2013 By admin

The following article is brought to you by CATHERINE CURAN at NYPost.Com New York City and state have suffered massive mortgage-document fraud, with damages potentially exceeding $100 million. That’s the explosive allegation by whistleblower Lynn Szymoniak and her legal team, whose lawsuit against two-dozen major banks and mortgage servicers alleging violations of the False Claims […]

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 […]

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 […]

Feds to help borrowers prove foreclosure errors

Published on December 19, 2011 By admin

The following post was originally posted on November 1, 2011. I called to have the paperwork for the Independent Foreclosure Review sent to me. I received the paperwork on December 15th, exactly 45-days after calling the number below. Chase Home Finance the servicer for Chase Bank refused to treat my family and hundreds of thousands […]