Bank of America (BAC) is preparing to resume foreclosures in 23 states, just 10 days after halting the foreclosure process on properties in all 50 states. The foreclosure halt came amid concerns that company executives may have…
The crisis could hit bank earnings in several ways, not all of them directly related to the foreclosure problem. One big risk is “putbacks,” the faulty loans banks could be forced to repurchase. JPMorgan puts that cost at up to…
Stocks closed mixed Friday as Google’s strong earnings lifted tech stocks but mounting concern over the foreclosure crisis and a revenue miss from GE weighed on financials and the broader market.
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Countrywide Financial Corp. co-founder Angelo Mozilo, along with two others, has reached a settlement agreement with the Securities and Exchange Commission related to charges of insider trading and civil fraud.
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Angelo Mozilo, the former CEO of Countrywide Financial, is in talks with the SEC about a possible deal that could let him avoid standing trial for fraud charges, The Wall Street Journal said.
Talks between Mozilo, two other former executives and the …