Bank of America, Morgan Stanley and Goldman Sachs among those questioned by attorney general Eric Schneiderman Wall Street banks are facing fresh high-level scrutiny of their role in the credit crunch as New York’s attorney general opens an investigation into the packaging of mortgage loans into securities. Eric Schneiderman has called for meetings with several [...]
The 14 largest U.S. mortgage servicers must pay back homeowners for losses from foreclosures or loans that were mishandled in the wake of the housing collapse, the first of a set of sanctions regulators are seeking against the companies. View full post on All Stories
Unemployed home owners in five states will be able to get some help from the government with zero-interest, forgivable loans that set out to help them avoid foreclosure. View full post on All Stories
Tera Burbank and her husband, John Clark, are construction workers who have been out of work for more than a year. The Henderson residents live off unemployment and student loans. View full post on All Stories
By Kris Hundley, Times Staff Writer Friday, March 18, 2011 ST. PETERSBURG — J. Thomas Wood is showing just how tough it can for a lender to foreclose, even on a homeowner who hasn’t made a payment in more than three years. In 2006, when his condo in Bayway Isles was valued at $261,000, Wood [...]
Washtington, DC, United States (ProPublica) – by Paul Kiel — ProPublica Hosts of federal agencies and regulators, along with the 50 state attorneys general, are hard at work on laying out new rules for banks and mortgage servicers. Those rules will likely require servicers to transform their approach to handling homeowners facing foreclosure. Are you [...]
Florida’s mortgage delinquency rate at the end of 2010 was the highest in the nation, according to the Mortgage Bankers Association. More than 24 percent of the home loans in Florida were one payment or more past due, or in the process of foreclosure. Nevada came in second, at 22 percent. The national average was [...]
Here are the latest crop of Huntington Beach homes in default on loans and now scheduled to go to auction. Auction dates can be checked by using the TS#s and phone numbers below. Some auctions could be cancelled. In some cases, homes may also be for… View full post on All Stories
[JURIST] Arizona Attorney General Terry Goddard [official profile] filed a lawsuit [press release] against Bank of America (BOA) [corporate website] on Friday for misleading customers in mortgage modification and foreclosure practices. Specifically, the complaint [complaint; PDF] alleges that BOA violated a 2009 consent agreement, in which it agreed to develop and implement loan modification programs, [...]
AHN News Staff Washington, DC, United States (AHN) – Officials of American mortgage giants Fannie Mae and Freddie Mac denied Wednesday they caused the foreclosure crisis, instead blaming mortgage services and law firms that they contract. The executives told Congress that since the two companies do not service loans the responsibility for managing payments by [...]
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