The Senate Banking Committee held its second hearing on problems in mortgage servicing today, and the news is grim.
Continue reading Bank Regulators Agree: The Mortgage Mess Poses Massive Risk
Ba…
Bank of America challenges testimony by one of its operational leaders — that Countrywide may have held on to homeowners’ notes that it should have put into a trust. But the testimony is reinforcing fears that BofA is in big t…
Sworn testimony in a recently concluded mortgage case may spell big trouble for Bank of America. If what one bank employee said proves to be accurate, paperwork problems at mortgage provider Countrywide could leave Bank of Amer…
Meredith Whitney, an analyst who rose to fame as one of the few people who predicted the financial crisis ahead of time, now plans to from a new credit agency, the Financial Times reports.
Continue reading Mere…
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…