WASHINGTON (Reuters) - Congressman Barney Frank on Wednesday asked his colleagues to hold a hearing on alleged mortgage abuses at Ally Financial, a day after the attorney general from his home state of Massachusetts requested that lawmakers investigate. "Given Ally's significant role in the mortgage business and the federal government's considerable financial investment," Frank wrote to Spencer .
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Frank requests hearing on mortgage abuses at Ally
Posted by mortgage 166 days ago (Editorial)
Wells Fargo to pay $85M over mortgage abuses
Posted by mortgage 303 days ago (Editorial)
To settle civil charges, Wells Fargo will pay an $85 million fine and compensate borrowers for allegedly falsifying loan documents and steering ...
Fed fines Wells Fargo $85 mln for mortgage abuses
Posted by mortgage 306 days ago (Editorial)
WASHINGTON (MarketWatch) -- The Federal Reserve on Wednesday slapped an $85 million fine on Wells Fargo & Co for allegedly steering borrowers into high-cost subprime mortgage loans even though they qualified for safer loans. The fine is the largest civil monetary penalty the Fed has ever assessed in a consumer-protection enforcement action, the central bank said in a press release. The Fed said .
AP IMPACT: Gov't mortgage partners sued for abuses (San Francisco Chronicle)
Posted by mortgage 1015 days ago (Editorial)
Billions of dollars the government is spending to help financially pressed homeowners avert foreclosure is passing through _ and enriching _ companies accused of preying on the people they're supposed to help, an Associated Press investigation has found. The... Sponsored Topics: Foreclosure - Mortgage - Business - Associated Press - United States
Gov?t mortgage partners sued for abuses (Culpeper Star-Exponent)
Posted by mortgage 1015 days ago (Editorial)
The AP found that at least 30 servicers have been accused in lawsuits of harassing borrowers, imposing illegal fees and charging for unnecessary insurance policies
Gov't mortgage partners sued for abuses (The San Francisco Examiner)
Posted by mortgage 1015 days ago (Editorial)
In this photo made Friday, June 5, 2009, Jerry Turner stands in front of the Charleston W.Va. home his mortgage servicer, Select Portfolio, collected payments on for six years before he found out that it had been foreclosed on and later auctioned off.
Government mortgage partners accused of abuses (Richmond Times-Dispatch)
Posted by mortgage 1015 days ago (Editorial)
Billions of dollars the government is spending to help financially pressed homeowners avert foreclosure are passing through?and enriching?companies accused of preying on the people they?re supposed to help, an Associated Press investigation has found. The companies, known as mortgage servicers, are middlemen who collect monthly payments from homeowners and funnel the money to the banks or ...
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