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Mortgage, Real Estate, US Real Estate

Citigroup Hit With $158 Million Mortgage Fraud Settlement

By Mike Wheatley | February 17, 2012
Citigroup has suffered its second setback in two weeks, with the news that the bank will have to pay out $158.3 million in settlement fees, coming hot on the heels of last week’s $25 billion foreclosure settlement that was agreed between states and America’s five largest banks.
Mortgage, Real Estate, Residential, US Real Estate

Foreclosure Settlement between Banks and Government “Very Close”

By Mike Wheatley | January 19, 2012
As many as one million underwater borrowers deemed to be “at risk” of losing their homes could be set for a reprieve through a reduction on their mortgage principle, following reports that the government and America’s biggest banks have nearly reached a deal on mortgage aid.
Featured News, Mortgage, US Real Estate

Banks Are Lending Money Again, But Not To Everyone Of Course...

By Mike Wheatley | October 19, 2011
What with the economy continuing to flounder, you might be surprised to learn that a rather unusual thing has happened. Banks have started lending more money again. According to the New York Times, banks have once again increased the flow of the borrowing tap, and loan growth, despite the fact it is still at a […]
International, Real Estate, US Real Estate

Cancelled and Delayed Projects Increase in UAE

By Mike Wheatley | September 19, 2011
The value of delayed or cancelled construction projects in the UAE grew to $170 billion in the month just gone, in a strong indication that the country’s real estate industry has far from recovered. The 13% increase from projects that were delayed or cancelled in July was revealed last week in a report issued by […]
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 […]
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