On Oct. 20, New York courts ordered attorneys for foreclosing banks to swear they’d personally confirmed that their documents are true and accurate. But a Brooklyn judge has taken things a step further. Since the banks aren’t c…
Standard & Poor’s is revamping its credit rating methodology for banks and financial institutions in a way that may cause about 40% of rated banks to get a downgrade, The Wall Street Journal reported Tuesday.
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Peer-to-peer lending site Prosper.com has stopped letting high-risk borrowers use its site because too many of them failed to repay their loans. The site’s problem, says columnist and one-time lender Alex Salkever, is that Pros…
Goldman Sachs Group (GS) published details on how it earns its revenue as it works to deflect criticism that it puts its own profits ahead of client interests.
The 63-page report, released today, breaks down its revenue to show how much comes from it…
When the state tightened its foreclosure rules in response to the document crisis, it ordered the six largest servicers to explain why they should be allowed to continue foreclosing on homes. In effect, their response went some…