The mortgage mess settlement proposal is a repudiation of the servicing industries’ standard business practices. The agreement also reads as an indictment — not just of the servicing industry, but also of law enforcement, regu…
All across Florida, courts are starting to clear their overwhelmed dockets by dismissing foreclosure cases the banks have failed to prosecute. In one division of one of Florida’s 20 judicial districts, perhaps as many as 2,700 …
HSBC got plenty of attention when it disclosed that it had suspended foreclosures in its annual report Monday. But its not the only bank whose annual report made for interesting reading. The risk disclosures in banks’ annual re…
When Countrywide Financial created deeply flawed mortgage-backed securities, it wasn’t just selling bad financial products: It was breaking its contracts. Now some ordinary investors are suing Countrywide’s buyer, Bank of Ameri…
Foreclosures nationwide have exposed a swamp of fraudulent documents, but in many parts of Florida, courts have been letting banks ignore the law with impunity. Now, moves by Florida’s Supreme Court and its state bar associatio…