Most people raising the issue of false mortgage documents are homeowners facing foreclosure. And banks often respond that botched paperwork is a mere technicality — nothing to worry about. Then you find a case like Wells Fargo…
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…
A recent profile of Barbara Desoer, the president of Bank of America’s home loan unit, describes her as “Besieged.” But here’s who’s really beseiged: All those homeowners who are getting a raw deal from the banks.
…
After a 16-day review of its foreclosures, Bank of America says it found no problems with any of them, and now it’s ready to resume processing the paperwork. But that’s a claim so unbelievable it doesn’t pass the straight-face …
The Mortgage Bankers Association said they tumbled 10.5% last week, the biggest fall-off in four months. While the foreclosure crisis may be playing a role in the decline, rising interest rates are also partly to blame.
…