Mortgage, Real Estate, Residential, US Real Estate

Federal Housing Finance Agency To Sue Big Banks Over Toxic Mortgages

By Donna S. Robinson | September 3, 2011
The New York Times is reporting that the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, is planning to sue more than a dozen big banks for misrepresenting the quality of mortgages that were sold at the height of the housing boom. The suit alleges that the banks who packaged and sold […]
Mortgage, Real Estate, Real Estate Investing, Residential, US Real Estate

AIG To Sue Bank of America Over High Losses on Mortgage Backed Securities

By Donna S. Robinson | August 9, 2011
The New York Times is reporting that AIG is planning to sue Bank of America over losses related to mortgage backed securities. Click Here to read the entire NYT article.   But the real essence of this story reaches back to the companies that were originating the mortgages in the first place. Bank of America […]
Mortgage, Real Estate, Residential, US Real Estate

Bank of America Adopts Different Approach to Cut Foreclosures

By Allison Halliday | July 28, 2011
The biggest US mortgage servicer, the Bank of America, is adopting a different approach towards foreclosures and abandoned properties, which includes demolishing the most decrepit of them. It's donating 100 foreclosed homes in the Cleveland area, in conjunction with a local agency which manages such properties, and in certain cases will contribute towards their demolition. […]
Mortgage, Real Estate, US Real Estate

US Banks Strive to Win Broad Liability Releases

By Allison Halliday | July 25, 2011
Apparently efforts by US banks to win broad liability releases are proving to be a major obstacle in talks to resolve foreclosure practices and mortgage servicing. The liability releases would give the US Banks protection from further state and federal probes into their mortgage practices, including the lending and securitization of loans, and would form […]
Mortgage, Real Estate, US Real Estate

US Banks Are Still Robo-Signing

By Allison Halliday | July 19, 2011
In March the major mortgage lenders in the US said they would stop dodgy foreclosure proceedings which caused such scandals last year, but according to a Reuters investigation many are still continuing to use techniques such as robo-signing. Their investigation has found that many loan providers are continuing to file foreclosure documents that have been […]
Real Estate, US Real Estate

Bank of America close to $8.5 billion settlement

By Allison Halliday | June 29, 2011
The Bank of America is said to be close to making a settlement over soured mortgages, and if this deal goes ahead it could resolve a large proportion of costs demanded by institutional investors. The experts view seems to be that although this settlement figure isn't great, it is also not the worse case scenario […]
Mortgage, Real Estate, US Real Estate

Deadline Extended For Banks To Revamp Foreclosure Practices

By Mike Wheatley | June 15, 2011
Federal regulators have given the nation's 16 leading mortgage lenders another month to work out how they are going to tackle the widely publicized problems they are facing with loan modification and foreclosure procedures. Mortgage lenders and servicers were initially given a 45-day deadline by federal regulators to come up with their plans - a […]

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