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…
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…
A top Massachusetts court has criticized banks for their “carelessness” during the securitization of mortgages in the state. But interests supporting the banks have issued their own messages — trying to minimize the court’s de…
On Oct. 20, New York courts ordered attorneys for foreclosing banks to swear they’d personally confirmed that their documents are true and accurate. But a Brooklyn judge has taken things a step further. Since the banks aren’t c…