The mortgage industry has created a system meant to simplify the handling of loan documents. Instead, it’s legally shaky, makes tracking mortgage-note ownership extremely hard and may wind up throwing into doubt who actually co…
For years, the property management business has been stuck in the Dark Ages — using faxes, paper ledgers and out-of-date spreadsheet software. But as the foreclosure crisis adds millions of people to the rental market, new sta…
Back in December 2008, John H. was small-business owner with perfect credit and a house he could afford. But when his business started suffering, he appealed to Citi Residential Mortgage for a modification. Now, he faces forecl…
This week, the Congressional Oversight Panel recommended that the nation’s big banks be stress tested again, because if problems with mortgage-backed securities are widespread, the consequences could be dire. Now, the Fed has a…
Citigroup Inc (C) said it may have to refile thousands of foreclosure affidavits.
The bank is reviewing 10,000 affidavits executed before the company overhauled its foreclosure operation in February, Harold Lewis, a managing director with CitiMortgag…