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The Office of the Comptroller of the Currency missed
signs of the robo-signing scandal because its examiners underestimated
the risk and lacked enough guidance to find it, according to the
Treasury Department Inspector General.
In March, the five largest mortgage servicers settled
with federal regulators and the state attorneys for $25 ...
Foreclosure activity in April fell nationally
to the lowest level since the summer of 2007, but government
intervention and the recent $25 billion mortgage servicing settlement
are now changing the face of the crisis. Foreclosure
filings, which include default notices, scheduled auctions and bank
repossessions, fell 5 percent in April ...
Bank of America said Tuesday it’s launching a nationwide program that
pays homeowners as much as $30,000 to complete short sales.
The lending giant tested a similar program in Florida last year from
Sept. 26 through Nov. 30, and nearly 11,000 Florida borrowers verbally
agreed to complete their short sales by August of this year. So ...
How many homeowners have the banks been able to help following the
National Mortgage Settlement? According to this West Palm Beach news
report, apparently, not many... yet.
PALM BEACH COUNTY, Fla. - It's been three months since the $25 billion National Mortgage Settlement was announced.
The news was exciting for millions of ...
I discussed the below article today on my radio show the "Real Estate
Pros" on WPSL AM 1590 out of Port St Lucie, Fl. You can view the show on my website. We discussed the reductions around 40 minutes into the show.
select group of struggling mortgage borrowers are about to get an offer
that sounds too ...
Bank of America Corp. is launching a pilot program that will allow homeowners at risk of
foreclosure to hand over deeds to their houses and sign leases that will
let them rent the houses back from the bank at a market rate.While
the initial scope of the "Mortgage to Lease" program is small—the bank
began sending letters ...
If you have a chance to pick up the new issue of Rolling Stone please do so. Not for the cover story on Bruce Springsteen, but for the article from Matt Taibbi. Too Crooked to Fail is an article regarding the scary monster we call Bank of America and all of the illegal, immoral and downright criminal things that they have been up to. ...
Interesting read on what the big banks think about their
customers. Hey Chase if us little guys are so unprofitable I guess you won’t
mind if all of us make a run on your bank at the same time? Chase CEO Jamie
Dimon says so just as he is announcing record profits again. If you have an
account at Chase, or any other large lender for ...
The US government reached, on Thursday, what is being touted as a landmark deal, with some of the nation's biggest mortgage lenders -- Bank of America, Citigroup, JPMorgan Chase, Wells Fargo and Ally Financial -- over foreclosure and mortgage abuses which occurred after the burst of the housing bubble.
The deal requires five of the largest ...