securitized mortgages

S&P Expects U.S. Lawsuit Over Its Mortgage Ratings

The U.S. government is expected to file civil charges against Standard & Poor's Ratings Services, alleging that it improperly gave high ratings to mortgage debt that later plunged in value and helped fuel the 2008 financial crisis.

Lawyers' Carelessness Was Key to the Mortgage Mess

As multiple lawsuits and SEC actions progress in relation to the nation's mortgage mess, it's becoming clear that the misbehaviors of the lawyers involved at all stages were not isolated incidents: The misconduct was systemic, and it's time to start holding those lawyers accountable.

Did Bear Stearns Know These Securities Were a House of Cards?

JPMorgan Chase may come to regret buying Bear Stearns. Suits by Wells Fargo and bond insurer Ambac claim that Bear entirely disregarded loan quality to appease its trading desk's ever-growing demand for mortgages to securitize. Now, those parties are suing to get their money back, and they might get it.

Bank of America Sued for Countrywide's Mortgage Sins, Again

On Monday, a group of institutional investors sued Countrywide and Bank of America over Countrywide's mortgages practices. The bank is accused of issuing vast numbers of loans using methods that went beyond lax standards and into fraud, with the sole goal of repackaging them into securities to resell with inflated ratings.

Countrywide's Errors Could Cost BofA Billions

Testimony in a New Jersey foreclosure case decided last week may spell big trouble for Bank of America. If what one bank employee said on the stand proves to be accurate, paperwork problems it acquired when it purchased mortgage provider Countrywide could leave BofA on the hook for billions.

No Foreclosure Problems at Bank of America?

After a 16-day review of its foreclosures, Bank of America has pronounced itself satisfied. It found no problems at all with any of them, and it's ready to resume processing foreclosures. Let's be blunt: That's a claim so unbelievable it doesn't pass the straight-face test. Here's why ...

The Consequences of the Foreclosure Crisis

Even as the impact of the ongoing foreclosure crisis slowly unfolds, it's not too early to tote up a list of 10 potentially important developments that have already happened. None bodes well for the U.S. housing market, banks or economy.