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.
Co…
A recent profile of Barbara Desoer, the president of Bank of America’s home loan unit, describes her as “Besieged.” But here’s who’s really beseiged: All those homeowners who are getting a raw deal from the banks.
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That would be in California, Texas and 25 other states where the lender doesn’t have to go to court to foreclose. Except in rare instances, lenders can use fraudulent paperwork with impunity in those states. A closer look at C…
More mortgage investors appear to be joining the fight to force banks to buy back bad loans. These investors face big challenges in spite of their swelling ranks, as banks are understandably reluctant to pay.
C…
A lack of staff in the face of overwhelming volume is the excuse banks give for turning to robo-signers to speed foreclosures, and for their inability to manage the the mortgage modification process. Now, a class action against…