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JPMorgan, BofA Sued by New York Over Use of Mortgage Database - Businessweek

Feb. 4 (Bloomberg) -- JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. were sued by New York Attorney General Eric Schneiderman over the use of a mortgage database that the state said led to improper foreclosures. The banks ... More...

A Mortgage Tornado Warning, Unheeded - CNBC

Years before the housing bust — before all those home loans turned sour and millions of Americans faced foreclosure — a wealthy businessman in Florida set out to blow the whistle on the mortgage game. His name is Nye Lavalle, and he first came to ... More...

Mortgage Deal Reached In 2008 Shows Pitfalls To Avoid In Current Settlement - Huffington Post

As states gear up to finalize a national mortgage servicing settlement, some are looking to avoid the painful lessons of a 2008 mortgage deal that failed to deliver the help promised to desperate homeowners. Nearly four years ago, 11 states ... More...

Goldman to face mortgage debt class-action lawsuit - Reuters

(Reuters) - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender. More...

Citi Becomes Latest Bank to Cut Off Mortgage Brokers - Wall Street Journal

Citi put another nail in the coffin of the mortgage brokerage business: It will stop originating home loans through brokers. The move shows once again how the financial crisis is reshaping the mortgage industry. Like many banks, Citigroup Inc ... More...

Mortgage Rates New Record Low Attracts Attention From Consumers According To BurlingtonMortgage.biz - YAHOO!

Home mortgage rates have set yet another record, dropping to new lows for 30 year fixed, 15 year fixed, and 5 year ARM home loans, according to mortgage rate research website, BurlingtonMortgage.biz. This appears to have attracted the attention of mortgage ... More...

Reverse mortgage may be best option for elderly homeowner - Los Angeles Times

Dear Liz: My healthy and active 82-year-old mother is faced with having to sell her home this year because she's running out of money. She has lived a very minimal lifestyle for many years as her savings dwindled, and her income is now basically ... More...

California’s Solo Mortgage Probe Complicated by 2008 Deal - Businessweek

Feb. 3 (Bloomberg) -- California Attorney General Kamala Harris objects to giving banks broad releases of liability for predatory lending. At the same time, she may be locked into her predecessor’s 2008 settlement with the largest lender in ... More...

Showdown for the Banks, Showtime for Obama - Huffington Post

The proposed $25 billion "settlement" of the mortgage servicing mess, scheduled to be made public any moment, must be a way station to much larger reductions of mortgage principal for underwater homeowners and much more serious consequences for the banks ... More...

Chase Tries to Fix Mortgage Screw-up by Arguing Borrower Not Good at Latin - Forbes

I guess it  has become apparent that “securitizing” some mortgages was probably not such a hot idea.  This Louisiana tax title case emphasizes that point. It could be it is just rubbing salt in the wound, but I find it kind of interesting. More...

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