The Congressional Oversight Panel created in the wake of TARP to oversee and monitor the Treasury Department has issued a devastatingly clear report about the mortgage mess and its legal implications, which are ugly.
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In a Senate hearing Tuesday, Bank of America vowed to improve its foreclosure operations to avoid more “robo-signing” documentation problems. The bank halted foreclosures in October amid allegations of faulty paperwork and did …
Executives from the mortgage servicing industry testify before the Senate today, and they’ll try to save face by apologizing for their industry’s role in the foreclosure mess. But don’t believe the hype.
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Flawed foreclosure paperwork could inflict huge losses on the nation’s top banks and spread chaos through the housing market, according to a congressional report.
Accusations that major mortgage lenders including Bank of America Corp. (BAC), used fla…
Depositions by three employees of Nationwide Title Clearing describe a factory-like process that’s awful to look at. But Nationwide defends the system as being benign as sausage-making — and that it’s standard industry practic…