A U.S. bankruptcy court judge in New York wants officials from HSBC and Litton Loan Servicing to appear in her courtroom next month — to explain their failure to provide adequate documentation concerning how HSBC wound up cla…
After an exhaustive examination, DailyFinance’s legal reporter comes to a clear verdict. Banks have done three things to create the massive glut of foreclosures choking America’s legal systems and laying waste to its real estat…
A top Massachusetts court has criticized banks for their “carelessness” during the securitization of mortgages in the state. But interests supporting the banks have issued their own messages — trying to minimize the court’s de…
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…
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…