Several big banks have admitted that their employees routinely sign scads of foreclosure documents without verifying their information. Wells Fargo and CitiMortgage have denied engaging in similar practices. Yet new evidence sh…
After months of planning, AIG announced Thursday that it had entered into an agreement with the Treasury Department and the Federal Reserve Bank of New York about how it will repay in full its obligations to the U.S. governmen…
The mortgage-backed securities meltdown whose effects still haunt our economy sprang from a simple cause: The rules of the game gave big incentives to every player involved to ignore the problems and keep collecting their fees….
Some of Wall Street’s financial titans are facing lawsuits from equally formidable foes: Billionaire Len Blavatnick is suing JPMorgan Chase for losing $100 million of his money in subprime mortgages, and Norway is suing Citigr…
Mortgage finance giants Fannie Mae and Freddie Mac may not even exist in their current forms after a revamp of the U.S. housing finance system, Assistant Treasury Secretary Michael Barr said on Tuesday. Moreover, “private gains…