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ResCap's Chap. 11 may bring boost

Posted by mortgage 2 days ago (Editorial)
Dustin Walsh and Tom Henderson - The Chapter 11 bankruptcy of Residential Capital LLC , the home mortgage subsidiary of Detroit-based Ally Financial Inc.
SINGAPORE/HONG KONG (Reuters) - Royal Bank of Canada and Credit Suisse are among suitors who have put in initial bids to buy the non-U.S. wealth management business of Bank of America in a deal that could be worth about $2 billion, sources said. Swiss bank Julius Baer was also keen to bid for some of BofA's units in Europe, the Middle East, Latin America and Asia excluding Japan, the sources
A fifth bank has joined the government?s mortgage indemnity programme for buyers of new-build homes.
Four people involved in a mortgage loan fraud scheme centered in central Contra Costa involving at least 20 properties and more than $20 million in loans were sentenced Thursday to between 18 and 30 months in prison.
Wells Fargo & Company , one of America?s leading community banks and the nation?s largest home mortgage lender, today announced that the NeighborhoodLIFTSM program, a major effort to help stabilize neighborhoods deeply affected by the foreclosure crisis, is coming to Florida.

New lender joins mortgage scheme

Posted by mortgage 37 days ago (Editorial)
A fourth bank has signed up to the government?s Newbuy mortgage indemnity scheme, just weeks after the project came under fire for its failure to attract enough lenders.
A federal judge in Knoxville has sentenced a mother and son to prison in a home mortgage scheme.
KNOXVILLE, Tenn. ? A federal judge in Knoxville has sentenced a mother and son to prison in a home mortgage scheme.

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