The ruling narrows the case against former IndyMac Bancorp Chief Executive Michael W. Perry, who is battling fraud allegations connected to the thrift's failure in 2008. In a setback for federal regulators, a federal judge threw out many of the fraud allegations against former IndyMac Bancorp Chief Executive Michael W. Perry in a case stemming from the collapse of the onetime Pasadena mortgag
Published News » Mortgage Lawsuits
Judge dismisses parts of IndyMac fraud case
Posted by mortgage 6 hours ago (Editorial)
SEC Trials Increase 50 Percent as Execs Fight Lawsuits
Posted by mortgage 1 day 6 hours ago (Editorial)
The U.S. Securities and ExchangeCommission, long known for settling enforcement actions withouthaving to prove its case in court, is struggling to cope with aa surge in the number of executives and companies ...
Ally?s ResCap Files Bankruptcy, Plans Sale to Fortress
Posted by mortgage 1 day 6 hours ago (Editorial)
ResCap listed assets of $15.7 billion and debt of $15.3 billion in a petition filed today in U.S. Bankruptcy Court in Manhattan . ResCap?s Chapter 11 filing is the biggest so far this year, based on liabilities, according to data compiled by Bloomberg.
Texas firm accuses Calif. homeowners of fraud
Posted by mortgage 6 hours ago (Editorial)
Michael Short/California Watch Oscar Trejo, pictured here at his current home in San Jose, said he had never heard of Heritage Pacific before it asked a judge not to discharge its $88,000 claim against him.
Firm Targets Calif. Homeowners With Foreclosed 2nd Mortgages
Posted by mortgage 6 hours ago (Editorial)
Adding new uncertainty in the state's ongoing mortgage crisis, a Texas company is aggressively pursuing hundreds of Californians to collect second-mortgage debt -- on homes they've already lost through foreclosure.
Charles Ferguson: How Financial Criminalization Crashed the Economy, and the Culprits Got Off Scot-Free
Posted by mortgage 1 day 6 hours ago (Editorial)
It is no exaggeration to say that since the 1980s, much of the financial sector has become criminalized, creating an industry culture that tolerates or even encourages systematic fraud. The behavior that caused the mortgage bubble and financial crisis was a natural outcome and continuation of this pattern, rather than some kind of economic accident. It is important to understand that this ...
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