JPMorgan Chase may come to regret buying Bear Stearns. Suits by Wells Fargo and bond insurer Ambac claim that Bear entirely disregarded loan quality to appease its trading desk’s ever-growing demand for mortgages to securitize….
On Monday, a group of institutional investors sued Countrywide and Bank of America over Countrywide’s mortgages practices. The bank is accused of issuing vast numbers of loans using methods that went beyond lax standards and in…
Better-than-expected earnings from General Electric helped lift the Dow and S&P 500. The Nasdaq closed lower after disappointing results from chipmaker Advanced Micro Devices. Overall, the week’s strong earnings bode well for c…
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…