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 ...
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New York sues banks over electronic mortgage system
Posted by mortgage 109 days ago (Editorial)
SEC Sues Former Freddie Mac Chief Executive Syron in New York
Posted by mortgage 126 days ago (Editorial)
The U.S. Securities and Exchange Commission sued former Freddie Mac Chief Executive Officer Richard Syron in New York.
Morgan Stanley, Saxon American in Mortgage Pact With New York
Posted by mortgage 194 days ago (Editorial)
Morgan Stanley (MS) and its mortgage servicer Saxon, American Home Mortgage and Vericrest Financial agreed with New York?s Department of Financial Services to adhere to terms of previous mortgage-servicing pacts with Goldman Sachs Bank, Ocwen Financial, and Litton Loan Servicing, accroding to an e-mailed statement.
Quelle Surprise! New York Fed Director Shills for Bank of New York, Argues Against Rule of Law
Posted by mortgage 282 days ago (Editorial)
Given the Federal Reserve's abysmal regulatory record in the runup to the crisis (even the uber bank friendly Office of the Comptroller of the Currency was more aggressive in going after subprime abuses, for instance), it should be no surprise that some of its directors are utterly lacking in propriety and common sense when it comes to defending the rights of banks to profit at the expense of ...
Bank of New York Mellon plans 1,500 job cuts
Posted by mortgage 286 days ago (Editorial)
Bank of New York Mellon Corp. said Wednesday that it will cut about 1,500 jobs, or 3 percent of its work force, the latest sign of the banking industry's painful shrinking.
Guaranteed Home Mortgage Company Inaugurates New Team at New York City Branch
Posted by mortgage 302 days ago (Editorial)
Guaranteed Home Mortgage Company, Inc. , a national residential mortgage investment and banking firm, today announced the establishment of a new team at its New York City branch to invigorate its city business and provide a complete package of services including Conventional Loans, Reverse Loans, FHA Loans, VA Loans and Purchase and Refinance Transactions.
New York Fed?s AIG Assets Might Fetch $15 Billion, Barclays Says
Posted by mortgage 344 days ago (Editorial)
The Federal Reserve Bank of New York?s sales of the mortgage securities it assumed in the 2008 rescue of American International Group Inc. would probably fetch $15 billion ?at most? at current prices, less than the insurer offered, according to Barclays Capital Inc. analysts.
AIG Securities Held by New York Fed Might Bring $15 Billion, Barclays Says
Posted by mortgage 344 days ago (Editorial)
The Federal Reserve Bank of New York ?s sales of the mortgage securities it assumed in the 2008 rescue of American International Group Inc. (AIG) would probably fetch $15 billion ?at most? at current prices, less than the insurer offered, according to Barclays Capital Inc. analysts.
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