Judge Rules JPMorgan Chase Is Not Responsible For WaMu’s Pre-September 2008 Liabilities
By Brian Honea A federal judge has ruled that the Federal Deposit Insurance Corp., is liable for facing certain legal claims that FDIC-insured JPMorgan Chase inherited from its 2008 acquisition of Washington Mutual, according to media reports. JPMorgan acquired the...
Green Tree $63 million for “mistreating borrowers”: Green Tree harassed and threatened overdue homeowners
By Ben Lane The Consumer Financial Protection Bureau and theFederal Trade Commission announced Tuesday that the organizations are taking action against Green Tree Servicing, a subsidiary of Walter Investment Management Corp. (WAC), for “mistreating borrowers” who were...
Legislation to Extend Tax Relief to Distressed Homeowners Currently in House, Senate Committees
By Brian Honea Two similar pieces of legislation introduced last month in the House and Senate that would extend tax relief to homeowners who are underwater on their mortgage loans have been referred to committees and are waiting to be heard. Congressman Tom...
Five Servicers to Pay $123 Million to Service Members for Unlawful Foreclosures
Author: Brian Honea Five of the nation's largest mortgage servicers will pay more than $123 million to 952 service members and their co-borrowers as part of a settlement with the U.S. Department of Justice over non-judicial foreclosures that violated the...
Reuters: DOJ collects $24.7 billion in settlements in 2014: JPMorgan Chase & Co., Citigroup, BofA among biggest settlements
By Levi Shultz Earlier today, the Federal Housing Finance Agency’seighth seminannual report stated that $353 million in criminal fines and restitution orders have been collected due to the OIG’s investigative efforts. Simultaneously, Reuters reported an accumulated...
BofA’s $16 billion settlement on hold due to SEC fight SEC commissioners split on granting waivers for relief
By Ben Lane The record-setting settlement between Bank of America(BAC), the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities is on hold due to political in-fighting at the...
FHFA director announces changes to open Fannie, Freddie credit boxes
By Trey Garrison Clarifies lending liability in reps & warranties, increases LTV ratios Federal Housing Finance Agency Director Mel Watt announced a number of policy steps aimed at increasing mortgage credit availability at the Mortgage Bankers...
Report: Freddie Mac, Ginnie Mae Ignored ‘Red Flags’ in Fraud Case
By Brian Honea A report filed last week by the Office of Inspector General of the Federal Housing Finance Agency (FHFA) states that Freddie Mac and Ginnie Mae ignored "red flags" with regards to a mortgage fraud scheme perpetrated by lenders Taylor, Bean, and...
Lawyers Are Now The Driving Force Behind Mortgage Scams
By Ben Hallman of Huffington Post From the very first day she was allowed to speak with clients at her new law firm job, Michele Stephens wondered if she was doing something unethical. By the time she quit, nearly a year later, she no longer had any doubt about...
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Tax Increase Prevention Bill Signed Into Law By President Provides Relief for Distressed Homeowners
By Author: Brian Honea of DS News Just before Christmas, President Barack Obama signed into law H.B. 5771, known as the Tax Increase Prevention Act of 2014, which retroactively extended 55 tax provisions – including one that provides distressed homeowners relief on...
BofA’s $16 billion settlement on hold due to SEC fight SEC commissioners split on granting waivers for relief
By Ben Lane The record-setting settlement between Bank of America(BAC), the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities is on hold due to political in-fighting at the...
FHFA director announces changes to open Fannie, Freddie credit boxes
By Trey Garrison Clarifies lending liability in reps & warranties, increases LTV ratios Federal Housing Finance Agency Director Mel Watt announced a number of policy steps aimed at increasing mortgage credit availability at the Mortgage Bankers...
Lawyers Are Now The Driving Force Behind Mortgage Scams
By Ben Hallman of Huffington Post From the very first day she was allowed to speak with clients at her new law firm job, Michele Stephens wondered if she was doing something unethical. By the time she quit, nearly a year later, she no longer had any doubt about...
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The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.