NEW YORK - Even as President Barack Obama is calling for more assistance for struggling mortgage borrowers, major banks are looking forward to spending less to handle problem home loans.
Published News » Mortgage Lawsuits
US banks to spend less on problem home loans
Posted by mortgage 11 minutes ago (Editorial)
N.Y. Attorney General Schneiderman Accuses Banks, Mortgage Registry of Illegal Foreclosures
Posted by mortgage 1 day 11 minutes ago (Editorial)
The lawsuit accuses banks of creating a registry service that fails to accurately track mortgage ownership and lacks any legal authority to initiate foreclosures.
Busy Day In The Mortgage Morass: Judge Allows Class Action Against Goldman
Posted by mortgage 1 day 11 minutes ago (Editorial)
Judge certifies class action status for investors in $698 deal backed by risky mortgages.
New York sues banks over electronic mortgage system
Posted by mortgage 1 day 11 minutes ago (Editorial)
NEW YORK (Reuters) - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices. Schneiderman filed the lawsuit against Bank of America Corp , Wells Fargo & Co and JPMorgan Chase & Co in New York state court in Brooklyn. The lawsuit is over the banks ...
Bank Of America Keeps Shrinking
Posted by mortgage 2 days ago (Editorial)
Once the biggest bank in the country, Bank of America is shrinking before our very eyes.
Wells Fargo Topples Bank of America to Become Largest U.S. Mortgage Servicer
Posted by mortgage 2 days ago (Editorial)
The Bank of America is no longer the nation's biggest mortgage servicer in the U.S., according to the latest report.
Ex-Credit Suisse CDO Chief Charged in Scheme to Boost Bonuses
Posted by mortgage 3 days ago (Editorial)
Kareem Serageldin, Credit Suisse Group AG?s former global head of structured credit trading, was charged in a scheme to falsify prices tied to collateralized debt obligations to meet targets and boost year-end bonuses for his $5.35 billion trading book.
Deutsche Bank's Equivalent of Goldman's ABACUS Fiasco Is Finally Here
Posted by mortgage 5 days ago (Editorial)
Meanwhile, the US Securities and Exchange Commission is also investigating Deutsche Bank , SPIEGEL reports. According to financial regulatory sources, the bank launched one CDO transaction called "START" in which it allegedly allowed the hedge fund of US speculator John Paulson to choose junk mortgage securities against which he could speculate -- without the other investors knowing abo
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