All posts tagged "mortgage crisis"
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7.8K2Business NewsReal estate couple gets jail time for massive $50M fraud scheme
(Business News) When a well known Realtor and his loan officer wife get rich off of $50 million in falsified loans and...
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1.1KHousing NewsMortgage application volume falls slightly
Although the average contract interest rate fell for many types of loans, mortgage application volume fell - the MBA points out that...
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1.7KHousing NewsBank of America employee accused of taking $1M in bribes to rig short sales
One Bank of America employee has been charged with a scheme that put over $1 million in his pocket.
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1.5KHousing NewsForeclosure mills run rampant, justice may be imminent
If you follow the money at several major foreclosure mill firms, the abuses being discovered at various levels are astounding. One state...
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839Housing NewsDOJ revises web transcript of 2012 Eric Holder speech
When it was discovered that Eric Holder misstated facts about the Mortgage Fraud Task Force, the DOJ initially issued a press release...
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1.0KHousing NewsJPMorgan staff that allegedly hid $6B in losses to be jailed
Two arrests are finally set to be made in JPMorgan's "London Whale" case wherein the bank allegedly covered up $6B in losses...
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2.6K5Economic News
Eric Holder misled Americans about mortgage fraud
Eric Holder has overstated facts about the mortgage fraud task force formed to seek out and punish wrongdoing, raising additional questions about...
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2.1K2Housing NewsCity invoking eminent domain on underwater houses
Local governments in California are known to launch experiments, but invoking eminent domain on underwater mortgages is raising questions and eyebrows across...
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1.6K3Economic News
BoA sued for lying, denying applications for bogus reasons
Former Bank of America staff members are coming forward, alleging bank policies that forced employees to lie to homeowners and in some...
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2.4K3Housing NewsWells Fargo foreclosing on home for overpaying mortgage
Wells Fargo has taken a harsh tone in the case of a homeowner who sent in too much money one month in...
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2.5K1Housing News
Court rules that MERS meets definition of beneficiary
MERS, once blamed for the entire housing crash, is now being affirmed by judges - could more courts and more states rule...
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2.3KHousing NewsCourt affirms MERS role in chain of title is valid
MERS, once blamed for the entire housing crash, is now being affirmed by judges - could more courts and more states rule...
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1.5K1Housing NewsMERS winning significant legal battles across U.S.
MERS has been the target of many lawsuits from counties claiming unpaid fees, but judges are more frequently ruling against plaintiffs and...
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2.0K2Economic NewsBig banks to review complaints alleging illegal foreclosures
After a bitter fight, homeowners are finally being compensated for big banks illegally foreclosing, but in a cruel twist, the government is...
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654Economic NewsForeclosure starts fall significantly, may be temporary
Foreclosure starts fell substantially in LPS' most recent report, but the drop may be temporary and is not cause for celebration or...
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1.7K8Housing NewsFannie Mae, Freddie Mac freezing foreclosures for holidays
Fannie, Freddie and major lenders are freezing foreclosures for the holidays, but come January, evictions will resume, and there is no promise...
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1.5K3Economic NewsHome prices slide in October, but continue to rise on a year-over-year basis
Home prices are on their way up on a national level, when compared to 2011, but actually fell in October, with another...
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1.5K1Housing NewsExecutive faces jail time for role in robo-signing scandal
After charges were filed against a former DocX executive this spring, the nation has awaited the final result as an indicator of...
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1.8K1Housing NewsTexas judge dismisses homeowner’s case against MERS
MERS has been the target of many lawsuits from counties claiming unpaid fees, but a homeowner recently tried their hand at suing...
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1.8KHousing NewsFeds seeks to dump Fannie and Freddie’s non-performing mortgages
With the FHFA still overseeing Fannie Mae and Freddie Mac, the three are seeking to possibly sell off their delinquent loans, according...
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1.9K2Housing NewsOklahoma first to get national mortgage settlement payouts
Why is Oklahoma the first state that illegal foreclosure victims will see compensation? And why are they getting 20 times more than...
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1.2K2MortgageU.S. sues Wells Fargo, alleging a decade of mortgage deceit
Implying Wells Fargo has acted as an assembly line for mass FHA lending, regardless of quality, the government is suing the bank...
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2.3K7Housing NewsDetroit homeowner forced to live with squatter in her house
After claiming ownership of what she says was an abandoned home, an odd story is spun by a woman who calls herself...
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1.5KHousing NewsEye-opening visualization of the viral spread of foreclosures
Housing is finally showing a blip on the heart monitor after years of devastation, but this map is a harsh reminder that...
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8684Housing NewsCFPB: new rules proposed for mortgage servicers
As a part of our nation's cleaning up their mortgage act, the CFPB is looking to require better communication from servicers and...
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670Economic NewsComparing the 21 plans for housing reform
Housing is one of the hardest hit sectors of the real estate market, but proponents of these 21 plans for reform believe...
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7461Economic NewsFHFA director urged to reconsider mortgage principal reductions
In the continuing melodrama in D.C., politicians hash out what they see as the way forward for housing, but the most powerful...
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7201Housing News
City sues U.S. Bank for foreclosures becoming blight homes
As banks play the blame game and point fingers at servicers, one city has had enough, and is taking action for allowing...
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1.3K1Economic NewsCountrywide whistleblower: from fired to millionaire
Without explanation, a Countrywide appraiser is fired, but perhaps it is because he kept telling executives that the company was wrongfully encouraging...
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1.9K5Economic NewsHome prices see largest year-over-year gain in past 25 years
Although home prices see recovery, giving hope to underwater borrowers, CoreLogic and AGBeat continue to hesitate in calling a housing comeback.
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1.0K1Economic News
Shareholders suing Bank of America, judge refuses to dismiss
In what could turn out to be one of the largest shareholder lawsuits we've seen, one pension fund is taking Bank of...
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801Housing NewsForeclosures spike in second quarter
After signs of improvement in housing, this new report reminds all that housing is still unstable.
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2.0K1Economic NewsAs home prices rise, underwater mortgage volume is falling
Underwater mortgages has long been a weak spot in housing, but signs of improvement have come with home prices slowly rising.
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1.4K1Housing NewsWidow sues Chase, LPS for fraud and wrongful death
In a heartbreaking story, a widow talks about how her husband changed after being served a wrongful eviction notice.
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9944Housing NewsBig banks suddenly making big bucks through HARP
Banks are cashing in by taking advantage of new HARP rules - refinanced loans are at lower rates, but still above market...
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1.2K30Housing NewsReport: mortgage foreclosure scams surge 60 percent in 2012
With each new government assistance program that seeks to help distressed homeowners, various scams attach themselves to the program name and frequently...
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1.8K14Housing NewsCFPB to require mortgage servicers to be more transparent
As the mortgage crisis came to a head, the CFPB was formed and seeks to reform mortgage servicing to provide more transparency...
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2.6K22Housing News
Wells Fargo fined $3.1 million for mortgage abuse of a single borrower
While most homeowners that were victim of mortgage abuses will see a few thousand dollars from the $25B mortgage settlement, this homeowner...
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1.8K35Economic NewsChase CEO opines on the mortgage crisis and the future of housing
In his own words, the CEO of JP Morgan Chase explains the bank's role in the mortgage crisis and what he forecasts...
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60317Economic NewsGeithner says housing financial reform is unfinished business
As agencies and lawmakers fight over how to wind down the government's involvement in propping up housing, Geithner comments that the job...
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59813Economic NewsAfter sharp increase, foreclosure starts and sales drop
After increases in both foreclosure starts and sales in January, LPS is reporting a sharp decrease in February across all investor classes....
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4.0K38Economic NewsDetailed breakdown of the $25 billion mortgage settlement
As details of the historic $25 billion mortgage settlement have become public, there is a great deal of information to digest, so...
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1.1K18Housing NewsCreative Bank of America program turns homeowners into renters
Creative pilot program allows homeowners with high balances that are at risk of foreclosure to stay in their homes and become renters...
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3.4K20Economic NewsMost Americans unaware of mortgage modification programs
Although so many mortgages are underwater, most Americans are unaware of the modification programs available to the public in the form of...
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8.8KHousing NewsRussian mob Ponzi scheme allegedly steals $6M from Texas land investors
Investors file a lawsuit against a man said to have ties to Russian organized crime activities and believed to have swindled real...
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1.7K41Economic News
Bank of America principal reductions to average over $100,000
Bank of America has cut a side deal after the $25B mortgage settlement to offer massive principal reductions to homeowners that are...
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2.9K1Housing News$26B settlement provides relief for service members
Service members illegally foreclosed upon In a historic deal after repeated delays and over a year of negotiations, the Justice Department, U.S. Department of...
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69323Housing NewsCouple fights $1M foreclosure, lives mortgage free for five years
The Maryland couple never intended to not pay their mortgage, but five years later, they are fighting eviction. This tale is indicative...
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2.8K21Economic NewsCalifornia homeowners’ bill of rights could soon become law
California AG Kamala Harris has been a staunch defender of homeowners, with her pending homeowners' bill of rights proposals looking to become...
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92217Housing NewsHome foreclosed in 2010 fined hundreds for 2012’s uncut grass
Warrants issued for a former homeowner in Fort Worth who has not lived in the home for two years, regardless of proving...
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1.0K7Economic NewsEconomist: mortgage settlement makes fraud just a business expense
When 50 states settled with the banks for a historic $26 billion, many felt resolutions, but as the settlement details are dug...
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1.8K25Economic NewsFannie Mae offers deals on bulk investment in distressed properties
Cities plagued by distressed properties and vacant units may see some relief as Fannie Mae offers investors bulk deals while eliminating the...
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1.7K10Housing NewsKentucky judge dismisses case against MERS
Kentucky lawsuit dismissed Last year, Mortgage Electronic Registration Systems Inc. (MERS) became the subject of lawsuits from counties across the nation as...
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1.3K21Economic NewsStalled $26 billion civil mortgage settlement now finalized
Mortgage foreclosure settlement In a historic deal after repeated delays and over a year of negotiations, the Justice Department, U.S. Department of...
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81816Economic NewsSeveral states hold out, one leaves $25B mortgage settlement talks
Settlement talks in limbo AGBeat has had a close eye on multi-state talks with the largest banks as over a year ago,...
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98514Opinion EditorialsThe REO problem is worse than you think
How REOs are killing the market This week an asset manager contacted me to get pre-listing information on a house about to...
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1.1K22Economic NewsObama housing plan helps its one millionth homeowner
Housing plan helps one million The U.S. Treasury Department reported today that since the Obama administration launched their foreclosure prevention program in...
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79313Economic NewsMortgage settlement deal remains stalled, deadline passes
The deadline has passed – no deal At the end of business today, the deadline came and went for the $25 billion...
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1.1K16Business NewsCity may pull accounts from Wells Fargo for foreclosure abuses
Foreclosure abuses In light of increasing reports of foreclosure abuses, the city government of Berkeley, California is considering pulling their $350 million...
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2.4K5Economic NewsS&P sued by Illinois AG for allegedly fraudulent ratings
S&P’s allegedly fraudulent ratings Illinois Attorney General Lisa Madigan has filed a lawsuit against Standard & Poor’s (S&P), alleging fraudulent role in...
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95317Economic NewsMortgage delinquencies fell 40% in 2011
Foreclosure activity According to a new report by Lender Processing Services (LPS), mortgage delinquencies dropped 3.7 percent in December, down 40 percent...
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1.1K13Opinion EditorialsMan charged with child neglect, leaves son behind in foreclosure home
Father abandons son A 60 year old Minneapolis single father and struggling architect, Steven Cross has been convicted with child neglect for...
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81617Economic NewsReport strongly criticizes housing finance oversight
Firey inspector general report The inspector general for the Federal Housing Finance Agency released a report this week that is highly critical...
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1.4K34Housing NewsUnemployed homeowners may get a full year of forbearance
Freddie Mac to expand forbearance period Freddie Mac has announced that it is allowing mortgage servicers to offer six months of forbearance...
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1.3K7Housing NewsCourt reverses dismissal of discrimination case against Countrywide
Appeals court rejects dismissal Barely two weeks after Bank of America-owned Countrywide settled with the U.S. Department of Justice for $335 for...
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1.8K27Housing NewsHomeowner sues Bank of America for mortgage mishandling
Indianapolis homeowner sues Indianapolis homeowner, Darryle Caines has filed a lawsuit against Bank of America, alleging that without explanation, his mortgage was...
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88220Economic NewsBank of America allows terminally ill woman to stay in home
Bank of America shows mercy Bank of America often demands headlines for illegal foreclosures, foreclosing on the wrong address or badgering a...
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81022Economic NewsSEC charges six former Fannie Mae and Freddie Mac executives
Six executives charged The Securities and Exchange Commission charged six former Fannie Mae and Freddie Mac executives today with civil fraud for...
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2.3K27Housing NewsMortgage company found guilty of illegal foreclosure, homeowner wins back home
North Carolina homeowner sues Christopher Joy of Raleigh, North Carolina is suing Nationwide Trustee Services and Litton Loan Servicing for allegedly misleading...
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2.1K14Housing NewsForeclosure mill that mocked foreclosure victims shutting down, blames NYT
Foreclosure mill shutting doors Last month, a former employee at the Baum law firm (a New York foreclosure mill) shared photos from...
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1.2K48Housing NewsBank of America foreclosing on home that no longer exists, no missed payments
Bank of America wrongfully foreclosing Bank of America is not new to wrongfully foreclosing on homes, but as seen in the video...
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9349Opinion EditorialsFirm changes tune, apologizes for Halloween party mocking foreclosure victims
Major PR blunder This week, a former employee of the Steven J. Baum law firm (commonly called a “foreclosure mill”) leaked photos...
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2.2K55Opinion Editorials
Heartless foreclosure firm’s sickening foreclosure-themed Halloween party
Very revealing Halloween party Steven J. Baum is a top law firm representing Bank of America, JPMorgan Chase and other major banks...
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4.4K29MortgageClass action lawsuit filed against Wells Fargo for illegal HAMP denial
Borrowers allegedly misled, defrauded A new class action lawsuit against Wells Fargo claims that the bank illegally refused to grant permanent loan...
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6208Economic NewsNew proposal to increase investment in the U.S. mortgage market
Housing reform proposal Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, Representative Scott Garrett (R-NJ) has unveiled a...
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2.8K2Economic NewsDelaware Attorney General Beau Biden files suit against MERS
Delaware AG files suit against MERS Delaware Attorney General Joseph R. “Beau” Biden, III has filed suit against the Mortgage Electronic Registration...
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1.6K1Economic NewsObama issues executive order to fix housing, supporters and critics clash
Executive order to alter HARP President Obama announced today what is being dubbed the “we can’t wait plan,” introducing the next phase...
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2.3KHousing News
Ohio files suit against MERS, also names Chase and CoreLogic
Last month Dallas, this month Ohio Last month in Dallas County, the District Attorney sued Mortgage Electronic Registration Systems (MERS) claiming they...
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94810Housing News
Realtor pleads guilty to mortgage scam after international man hunt
Realtor flees to Turkey, is extradited to the U.S. Former Realtor, Diane Atari in Ashburn, Virginia pleaded guilty to a $50 million...
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Mortgage
Uncle Sam’s newest plan – one million refinanced mortgages
Uncle Sam wants YOU (to refinance… if you can) If there is one thing that our government officials are not, it is...
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70813Economic NewsCouple never miss a mortgage payment, still hit with foreclosure notices
Wrongful foreclosures across the nation Over the years, we’ve reported on dozens of cases in which homeowners have been wrongly foreclosed upon...
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Economic News
Failed HAMP program blamed for onslaught of zombie homes
Zombie infection in America In recent years, the term “zombie homes” has slowly grown in popularity as a term to describe the...
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Economic News
Fannie Mae can’t afford to fire law firm accused of foreclosure abuses?
Underlying problem – lack of communication According to a report released this week by the Federal Housing Finance Agency (FHFA) inspector general,...
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63919Economic NewsAnother homeowner aid program failed – can’t even give away money
Emergency Homeowners’ Loan Program flop Since the 1980s, Pennsylvania set up a program to help struggling homeowners which has enjoyed great success...
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Housing News
Protesters denounce Wall Street, proclaim they are the 99%, flock to the web
Americans in protest On both sides of the political spectrum, there is uproar. Tea Party rallies rail against over-regulation while loosely organized...
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Mortgage
Countrywide agents found to have unusual number of Wite-Out dispensers on desks
Hot water for Bank of America In 2007, prior to failing and being bought by Bank of America, Eileen Foster was promoted...
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64111Housing News
Does President Obama blame the economic crisis on mortgage brokers?
LinkedIn Town Hall meeting with the President After taking thousands of questions from LinkedIn members in their special group, the company hosted...
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1.9K23Housing NewsReal estate scheme investigated by the FBI ends with prison time for agent
Albuquerque real estate agent jailed After a lengthy investigation by the Federal Bureau of Investigation (FBI), Albuquerque real estate agent, Kevin Powers,...
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1.2K22Economic News
District Attorney sues Mortgage Electronic Registration Systems (MERS)
Large city files suit Mortgage Electronic Registration Systems Inc. (MERS) bowed out of facilitating foreclosures this July after various investigations including a...
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Mortgage
Desperate homeowners wait hours in line hoping for 2% refinance rates
“Save the dream tour” Houston homeowners looking to save their homes are lining up in Houston at the convention center, waiting for...
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Housing News
Homeowners take trash from foreclosure, deposit it at Bank of America
“We wanted to make a deposit.” “We wanted to make a deposit. Unfortunately they don’t want to take our deposit,” Boston resident...
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4936VideoHistoric home purchased for one dollar, now up for foreclosure
A Chicago homeowner’s tale In 1989, Linda Hatchell saved a 19th century Victorian home that a church planned to demolish in order...
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Housing News
Widow fights back against aggressive Bank of America servicing tactics
Losing a spouse and dealing with a mortgage On August 2, 2010, Hawaiian homeowner Deborah Crabtree’s husband died of cancer, and as...
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1.4K31Housing NewsBig banks still robo-signing, committing foreclosure fraud
Seriously? After all of this? It is shocking that big banks are still perpetrating the same sins that have landed them in...
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Economic News
Could accelerating all foreclosures actually fix housing?
Rising mortgage delinquencies As the White House seeks methods do save distressed homeowners, a growing number of economists are advocating for the...
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Housing News
Pennsylvania mortgage fraud scheme ends with prison time and restitution
Over four years in prison Alex Gambini, former owner of First Advantage Financial Services in Pennsylvania has been sentenced to over four...
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1.2K30Housing NewsRealtor never misses a payment on his home, yet receives foreclosure notices
Proactively seeking a loan modification As with most Realtors in America, the economic downturn has hit Realtor Mark Conca’s bottom line, so...
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1.1K1Housing NewsTroubled homeowners in Arizona may now get free legal representation
Student attorneys helping troubled homeowners At Arizona State University’s Sandra Day O’Connor College of Law, distressed homeowners may now seek help from...
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1.1K70Housing News
Elderly homeowner foreclosed upon for paying mortgage a few days early
Wrongful foreclosures increasing in number? We’ve seen banks foreclose illegally on the wrong address, illegally foreclose on soldiers fighting abroad, foreclose on...
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Housing News
County hunting down foreclosed-upon homeowners to return $16 million
$16 million up for grabs As anyone practicing real estate knows, when a home is being foreclosed upon seeks to recoup what’s...
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1.7K24Housing NewsOne in every 611 homes received a foreclosure filing in the second quarter
Foreclosures still high Despite the robo-signing debacle slowing down foreclosures as the processing and servicing is rapidly changing, foreclosures remain high and...
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50518Housing NewsHOA makes homeowner buy their house back three times
HOA double dips on home, unprecedented case Stephanie Bonefont of Riverview, Florida has owned her home for 11 years which is now...
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Housing News
LPS sued by American Home for alleged robo-signing fraud
American Home vs. Lender Processing Services New York investor Wilbur Ross has a net worth of 1.9 billion according to Forbes and...
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Opinion Editorials
Mass mortgage principal write-downs based on bad theory raises many questions
A rise in principal write-downs Principal write-downs are not necessarily the flavor of the month for lenders and servicers, but they are...
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Economic News
Mortgage delinquencies rise in the second quarter of 2011
Delinquencies on the rise With the unemployment rate still above nine percent, it is no surprise that the U.S. Mortgage Bankers Association...
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Economic News
Mortgage rates hit lowest level since Eisenhower’s administration
Low, low, low According to the National Association of Realtors, the 3.5% decline in existing home sales is due in large part...
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Opinion Editorials
Renaming Fannie Mae and Freddie Mac as a solution to the mortgage crisis is a joke – right?
What’s next for Fannie and Freddie? President Obama has directed a “small team of advisers to develop a proposal that would keep...
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1.9K92Housing NewsFannie Mae breaks rules to foreclose on unsuspecting homeowners
Fannie Mae’s current role This spring, we reported that eight bills had been introduced to wind down Fannie Mae and Freddie Mac...
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Video
Homeowner never misses a payment, loses house at auction
Michigan homeowner frustrated When a Michigan family invested in an untraditional mortgage, they had no idea that after a $20,000 investment and...
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Economic News
How vacant homes impact the national real estate market
Looming shadow inventories The eternal threat of shadow inventory plagues the real estate sector as the market continues to struggle and the...
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Housing News
Real estate trend – banks demolishing foreclosures rather than selling?
Foreclosures- the bane of housing Foreclosures have been a drain on the housing sector for several years now and banks have been...
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Mortgage
Under investigation, MERS bows out of facilitating foreclosures
MERS backing out of foreclosures Mortgage Electronic Registration Systems (MERS) has recently come under fire, with several courts disputing their authority in...
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Housing News
JPMorgan Chase’s bombshell announcement – mortgage division winding down?
Washington Mutual and JPMorgan Chase In 2008, the Federal Deposit Insurance Corporation (FDIC) seized Washington Mutual Bank (WaMu), then facilitated its sale...
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Opinion Editorials
98% of mortgages in Spain are current, what could America learn?
Most Spaniards are current on their mortgage As America struggles with foreclosures and defaults, there are now 6.5 million Americans who are...
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Housing News
New regulations push MetLife bank to close, what of the mortgage division?
MetLife selling off bank MetLife Inc. has announced that it is considering selling their MetLife Bank which currently offers traditional banking such...
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Housing News
Wells Fargo fined $85 million for abusive practices of thousands
$85 million to borrowers The Federal Reserve Board has alleged that Wells Fargo employed deceptive mortgage practices, fraud and unsafe banking practices...
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Economic News
6.5 million Americans are over 30 days late on their mortgage payment
Delinquency rates are up Lender Processing Services is reporting the total American loan delinquency rate of mortgage borrowers whose loans are 30...
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Economic News
Checks going out to former Countrywide borrowers totaling $108 million
Former Countrywide borrowers finally getting paid Over three years ago, it was found that Countrywide Financial overcharged more than 450,000 borrowers, all...
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Housing News
Another mortgage crisis- robo-signing continues, loans missing, MERS under fire
Housing is on fire, is lending the accelerant? Is another mortgage crisis among us or is it the same crisis that has...
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Economic News
Wall Street executives crashed the economy says FCIC, DE, NY and now CA
Pointing the finger at Wall Street When the Federal Crisis Inquiry Commission wrapped up their report last week, Wall Street executives came...
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Housing News
Chase bank declares live homeowner dead, allegedly destroys her credit
I’m not dead! JP Morgan Chase is currently “investigating” how a homeowner was declared dead by their bank. Florida homeowner Wrenella Pierre...
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Mortgage
HomeStreet submits amendment to May IPO filing with the SEC
HomeStreet going public While companies like Zillow.com apply for their initial public offering (IPO) status as part of their long term growth...
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Housing News
Lawsuit filed against CitiBank for illegal foreclosures on military personnel
Servicemembers’ Civil Relief Act JP Morgan Chase has settled a class action suit for violating the nearly 70 year old Servicemembers’ Civil Relief...
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Mortgage
Former IndyMac CEO sued by FDIC for an astonishing $600 million
FDIC cleaning house In May 2011, the Federal Deposit Insurance Company’s (FDIC’s) started cleaning house and filing lawsuits. They filed against CoreLogic...
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Housing News
JPMorgan Chase ejects head of home lending after bank’s blemished record
Ousted leader at Chase After billions in losses on bad loans along with recent reports of misdeeds (and alleged illegal activity) at...
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Housing News
Housing can’t be fixed by government says House Speaker Boehner
Hope for housing? We’ve written extensively on housing since day one and it isn’t easy to keep a sunny disposition as housing...
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Housing News
FDIC suing CoreLogic’s eAppraiseIT unit for $129 million
FDIC files against CoreLogic The Federal Deposit Insurance Corporation (FDIC) has filed against CoreLogic for $129 million and demanded a jury trial...
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Housing News
FDIC suing LPS (Lender Processing Services) for $154.5 million
FDIC files suit The Federal Deposit Insurance Corporation (FDIC) has filed a lawsuit accusing Lender Processing Services Inc. (LPS) of negligence and...
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Economic News
Raised FHA premiums tank FHA purchase applications
FHA premiums rose For the week ending April 22, 2011, the Mortgage Bankers Association (MBA) is reporting their Market Composite Index (MCI)...
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Housing News
Military homeowners’ class action suit against Chase settled for $48 million
Military class action suit JP Morgan Chase has settled a class action suit for violating the nearly 70 year old Servicemembers’ Civil...
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Housing News
Homeowner wins $21M lawsuit against lender – ultimate David and Goliath tale
The ultimate David versus Goliath story America’s 8th largest mortgage company, PHH Mortgage was just ordered to pay a single homeowner $21...
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Housing News
House Committee passes eight bills to wind down Fannie Mae and Freddie Mac
No more golden parachutes Days after the Federal Housing Finance Agency’s Inspector General denounced millions of dollars in executive bonuses at Fannie...
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Housing News
Chase CEO gets snide, says mortgage writedowns are off the table for banks
CEO of Chase speaks up Today, after his appearance at the US Chamber of Commerce forum in Washington, the CEO of JPMorgan...
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Housing News
Wells Fargo denies telling homeowner to skip payments, offers $2 loan modification
Should homeowners skip payments? When the economy slowed, so did Ohio homeowner Mike Elewski’s family owned business. Seeing the problem coming, he...
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Economic News
Messin’ with real estate demand – too stupid to make up
Calling the bottom It never caught on of course, but I thought my idea for a new game show wasn’t bad. Named...
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Housing News
FDIC suing former Washington Mutual executives for $900M
FDIC sues execs for $900M The Federal Deposit Insurance Corporation (FDIC) has named the former Washington Mutual CEO, Kerry Killinger, President of...
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Economic News
Minnesota Attorney General finds difficulty in prosecuting foreclosure fraud
The Minnesota Attorney General is confirming a series of fraud cases they are investigating and attempting to prosecute in their state along...
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Housing News
New York group performs exorcism on Chase bank, the “evil empire”
A New York Communities for Change study points to failed HAMP results and claims JP Morgan Chase has refused to modify loans...
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Economic News
Do you really know what happens to a loan after your client signs?
You’ve heard of the robo-signing debacle in the mortgage industry and you know the big banks have been the target of much...
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Opinion Editorials
What can YOU do about the current lending insanity? A lot.
Remember the old Hall and Oates song, “I Can’t Go for That? No Can Do.” That’s what 38% of the 61% of...
