Five years ago, Federal Reserve head Ben Bernanke said the housing sector wasn't a major economic concern. In fact, most experts failed to see the looming subprime mortgage crisis that sank the U.S. economy. If they were so wrong about the Great Recession, it's possible they could also be blind to a "Great Recovery."
Published News » Subprime Mortgage
Have Economists Got It Wrong About The U.S.?
Posted by mortgage 23 hours ago (Editorial)
New York sues banks over electronic mortgage system
Posted by mortgage 23 hours 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 ...
Busy Day In The Mortgage Morass: Judge Allows Class Action Against Goldman
Posted by mortgage 23 hours ago (Editorial)
Judge certifies class action status for investors in $698 deal backed by risky mortgages.
N.Y. Attorney General Schneiderman Accuses Banks, Mortgage Registry of Illegal Foreclosures
Posted by mortgage 23 hours 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.
Timeline: Ex-Credit Suisse traders charged
Posted by mortgage 1 day 23 hours ago (Editorial)
U.S. authorities have accused a group of former Credit Suisse Group AG traders of falsely inflating the value of mortgage-backed securities on the investment bank's books as the financial crisis began ...
Wells Fargo Topples Bank of America to Become Largest U.S. Mortgage Servicer
Posted by mortgage 1 day 23 hours ago (Editorial)
The Bank of America is no longer the nation's biggest mortgage servicer in the U.S., according to the latest report.
Bank Of America Keeps Shrinking
Posted by mortgage 1 day 23 hours ago (Editorial)
Once the biggest bank in the country, Bank of America is shrinking before our very eyes.
Analysis: Obstacles high for more mortgage prosecutions
Posted by mortgage 1 day 23 hours ago (Editorial)
NEW YORK (Reuters) - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders. David Higgs, 42, and Salmaan Siddiqui, 36, pled guilty in U.S. District Court in New York to a criminal charge of ...
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