The Banks Disclose Foreclosure Problems
The Banks Disclose Foreclosure Problems
Banks' paperwork problems aren't over: In its annual report, HSBC Holdings said it has suspended foreclosures in the U.S. after a government review found documentation problems.
Buying a house, to put it mildly, is hard. There are a rash of decisions to be made, from deciding what community you want to live in and choosing a...
Nearly 1,500 consumers ripped off by a mortgage loan modification and foreclosure rescue scam will be receiving refund checks from the Federal Trade...
You get what you pay for, or so the saying goes. But consumer advocates have long bemoaned that the opposite is true in the world of...
Fannie Mae and Freddie Mac both narrowed their losses in the fourth quarter of 2010, while increasing their requests for federal aid.
For homeowners, the key to becoming debt free for life is paying off your mortgage as quickly as possible. Of course you can't even think about doing...
Homeowners desperate to dig themselves out from crippling monthly mortgage payments are now protected by a new Federal Trade Commission rule banning...
Two foreclosure middlemen, LPS Default Solutions and Prommis Solutions, are accused of illegally paying non-attorneys to practice law so banks and law firms could save on document filing costs. It's more than a money issue -- the errors these rushed non-attorneys are making may lead to another messy stage of the mortgage meltdown.
As home values slip below what people owe on their mortgages, people are strategically defaulting on their loans. Why? Because in some cases, it...
Sorry Bank Lawyers: Fixing Massachusetts Mortgages Not THAT Easy
U.S. mortgage rates have grown for five straight weeks, in the last week hitting their highest levels in seven months.
Sales of foreclosed homes plunged 25% in the last quarter, which ended in September, from the previous quarter -- and 31% from the year-ago period.
Bank of America challenges testimony by one of its operational leaders -- that Countrywide may have held on to the notes of the mortgages it sold for securitization.
A smaller percentage of mortgage holders were delinquent on their payments in the third quarter than in the second quarter, although the percentage of delinquencies remains up from the same period last year.
Homeowners struggling to make mortgage payments will soon be protected by a new Federal Trade Commission rule banning providers of mortgage...
Bank of America and Wells Fargo were among banks that tightened credit standards for mortgages insured by the Federal Housing Administration in a move that may put a crimp in the U.S. housing recovery by effectively eliminating 6.3 million people from the potential home buying pool.
If you're having a problem with a business, Consumer Ally can help. Write us at HelpMe@WalletPop.com. Q. CitiFinancial sent me an escrow analysis...
In a Senate panel hearing Monday, the Iowa attorney general said the problems in the home-loan industry extend well beyond just "robo-signing." A system-wide overhaul is needed, he said.
As Bank of America continues to cope with fallout from the housing and mortgage crisis, the financial institution may have to pay some year-end employee bonuses in the form of stock because of a possible cash shortfall related to its buy-back of stock from the federal government.
Banks' losses from buying back bad mortgages won't be as bad as previously expected, according to analysts at JPMorgan Chase, who estimate those repurchases will cost about 25% less than previously forecast.
More mortgage investors appear to be joining the fight to force banks to buy back bad loans.
Investors have been pulling their money out of U.S. equities for 24 straight weeks, last week withdrawing $623 million from U.S. stock funds.
The amount of time it takes to foreclose on a home is increasing, meaning that delinquent borrowers can stay in their houses for months after they stop making payments, according to Freddie Mac. Freddie Mac, which, along with Fannie Mae finances about half of all U.S. mortgages, says that homes now take as long as eight months to work their way through the foreclosure process, The Financial Times reported.
The rescue of mortgage giants Fannie Mae and Freddie Mac could cost as much as $363 billion over the next three years -- more than double the amount spent so far -- the Federal Housing Finance Agency announced Thursday.
The FBI is trying to determine if large lenders broke the law in the mortgage foreclosure crisis. The agency is trying to determine whether individuals working for large mortgage lenders acted with criminal intent or were simply overwhelmed by events during the crisis, The Associated Press reported without naming its sources.
U.S. President Barack Obama on Thursday vetoed a bill that its critics say would've make it harder to challenge foreclosure-related documents. Allegations of invalid foreclosure paperwork have been popping up around the country.
Wells Fargo says it will forgive $772 million in risky home loans and will pay $24 million to help reduce the impact of foreclosures on various communities.
Connecticut, Ohio and North Carolina have joined the ranks of states investigating foreclosures by Ally Financial's GMAC Mortgage unit after an...
Banks repossessed more homes in August than in any month since the beginning of the U.S. mortgage crisis, according to RealtyTrac.