The federal government leveled charges against Bank of America Monday that the mortgage company wrongfully discriminated against three borrowers with disabilities. HUD filed suit under the False Claims Act, alleging that Bank of America requested proof of disability from borrowers and Social … [Read more...]
HUD Charges Bank of America With Discrimination Against Disabled Homebuyers
February 27, 2012 by
The U.S. Department of Housing & Urban Development (HUD) is charging Bank of America with discriminating against homebuyers with disabilities See original article: HUD Charges Bank of America With Discrimination Against Disabled Homebuyers … [Read more...]
Two Banks Go Under, Lifting National Tally to 11
February 25, 2012 by
The lights went dark for two banks in Georgia and Minnesota Friday, with one unable to secure an acquirer for deposits. The cash registers at Little Falls-based Home Savings of America fell silent without any bank scheduled to take up $434.1 million in total assets and $432.2 million in total … [Read more...]
B of A Ceases Mortgage Sales to Fannie Mae
February 24, 2012 by
Bank of America announced Thursday that it will cease making new refinance mortgage sales to Fannie Mae as the mortgage heavyweights tangle over sensitive buyback claims from the financial crisis. The bank will stop selling first-lien refinance loans to the GSE for securitization purposes this … [Read more...]
Connecticut to Get $190M from Servicer Settlement
February 21, 2012 by
Residents of Connecticut will receive $190 million from the historic $25-billion settlement with five servicers, according to the office of the state attorney general. Excerpt from: Connecticut to Get $190M from Servicer Settlement … [Read more...]
Experts: RMBS Working Group May Dampen Recovery
February 21, 2012 by
Addressing Congress and the nation in January, President Barack Obama unveiled a so-called financial fraud unit that would pursue securities fraud from before the financial crisis and provide relief to homeowners. The unit – later described by officials as the Residential Mortgage-Backed … [Read more...]
Big Three Banks See Shares, Stock Rise With Dow Jones
February 18, 2012 by
The Dow Jones Industrial Average finished by end of day Friday at a clip just below 13,000 points, lifting stocks and shares for all but one of the four major financial institutions. Taken from: Big Three Banks See Shares, Stock Rise With Dow Jones … [Read more...]
Mark Schulenburg Joins Inlanta Mortgage as Branch Manager
February 15, 2012 by
Inlanta Mortgage has announced the addition of Branch Manager Mark Schulenburg to its Oak Brook, Ill. View article: Mark Schulenburg Joins Inlanta Mortgage as Branch Manager … [Read more...]
West Virginia AG McGraw Begins Foreclosure Relief Workshops With Servicer Settlement Funds
February 14, 2012 by
West Virginia Attorney General Darrell McGraw has announced the launch of “Project: Save Our Homes.” This project will coordinate efforts for the state’s homeowners to receive relief from last week's decision where 49 state attorneys general reached a $25 billion agreement with the nation’s … [Read more...]