Residential Capital, the unprofitable subprime mortgage company whose parent Ally Financial is trying to repay a U.S. government bailout, filed for bankruptcy and plans to sell most of its assets to Fortress Investment Group.
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Residential Capital seeks Chapter 11 protection
Posted by mortgage 6 days ago (Editorial)
Ally Gets Nod for ResCap Filing as U.S. Seeks Repayment
Posted by mortgage 15 days ago (Editorial)
Ally Financial Inc. (ALLY) , the auto lender majority-owned by taxpayers, received U.S. Treasury Department approval to put its Residential Capital unit into bankruptcy as the government seeks to recover bailout funds.
California AG seeks statewide mortgage protections
Posted by mortgage 83 days ago (Editorial)
State Attorney General Kamala Harris promoted legislation Wednesday to reform the mortgage process in California and provide more protections for homeowners, three weeks after she secured $18 billion for ...
Wells Fargo Seeks to Hand Off Its Mortgage-Repurchase Duties as Trustee
Posted by mortgage 88 days ago (Editorial)
Wells Fargo & Co. (WFC) ?s mortgage-bond trustee division is planning to hand its duties to investigate soured home loans and pursue lender repurchases to other companies, in a move meant to address the appearance of conflicts of interests, an executive said.
Wells Fargo Seeks to End Mortgage-Repurchase Duties as Trustee
Posted by mortgage 88 days ago (Editorial)
Wells Fargo & Co.?s mortgage-bond trustee division is planning to hand its duties to investigate soured home loans and pursue lender repurchases to other companies, in a move meant to address the appearance of conflicts of interests, an executive said.
Citigroup Seeks To Sell Entire HDFC Stake; May Raise Up To $2.07 Billion
Posted by mortgage 90 days ago (Editorial)
Citigroup Inc. (C) is looking to raise up to $2.07 billion by selling its entire stake in Indian mortgage lender Housing Development Finance Corp. (500010.BY).
Lender Processing Seeks to Dismiss Nevada Attorney General?s Complaint
Posted by mortgage 113 days ago (Editorial)
Lender Processing Services Inc. (LPS) asked a court to throw out a consumer fraud lawsuit by the Nevada attorney general that accuses the company of falsifying foreclosure documents.
Democrat seeks GOP names on Countrywide VIP loan list
Posted by mortgage 126 days ago (Editorial)
WASHINGTON (Reuters) - The top Democratic member of a congressional oversight panel turned up the heat on its Republican chairman on Tuesday to identify the four GOP lawmakers who got special treatment in the controversial "Friends of Angelo" mortgage program run by the now-defunct Countrywide Financial Corp. ...
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