Bank of America’s persistent failure to modify home loans has resulted in the inevitable: a consumer class action lawsuit. Last week, Susan Fraser of Missouri filed suit on behalf of herself and other qualified homeowners whom …
While most of the world’s central banks are still fighting the last war, Sweden’s Riksbank has moved on to the next one. Rather than looking at conventional inflation gauges, the world’s oldest central bank is basing its action…
Allstate is suing Bank of America and its Countrywide Financial division over Countrywide’s sale of $700 million in mortgage-backed securities to the insurance giant, alleging that Countrywide knew in advance that the assets wo…
The U.S. housing sector got another dose of sobering news Tuesday, as home prices in all 20 major cities tracked fell a worse-than-expected 1.3% in October from September. The S&P Case-Shiller index has now dropped for four str…
Judges in several states are emerging as defenders of due process and the rule of law when confronted with the banks’ rampant use of false foreclosure paperwork. Alas, that’s not so true in Florida, where a foreclosure can be h…