Foreclosure Crisis
More Mortgage Lenders Could Be Targeted for Foreclosure Fraud
According to officials, the eight firms that will be recommended for fines and penalties due to flaws and irregularities in the foreclosure process over the past five years include HSBC, SunTrust Bank, MetLife, EverBank, Goldman Sachs, OneWest, U.S. Bancorp, and PNC Financial
A Deeper Look at the Foreclosure Settlement
Common Lender
Recent California Foreclosure Report Gets a Second Look
Specifically, the report took a look at roughly 400 foreclosures in San Francisco County from January 2009 to November 2011 and examined them for errors, irregularities, and other signs of fraud or flaws in the process. Approximately 84% of home foreclosures reviewed contained what the report called ?clear violations of law?, and nearly 66% contained at least four violations or questionable
Federal Approach to Foreclosure-Into-Rental Plan Has Copycat in New Jersey
Sometimes good ideas are copied by others – which is not necessarily a bad idea. In this case, the federal government’s plan to convert thousands of government foreclosures into rental properties through a partnership with private equity investors is being copied (in a manner of speaking) by New
Dont Expect the Foreclosure Settlement to Fix the Foreclosure Process
The apparent lack of meaningful enforcement mechanisms in the deal is one glaring omission that many are beginning to notice now that the public has had a week to digest the terms of the settlement. One of the main reasons why the settlement occurred in the first place was because the states threatened to launch a tidal wave of probes, investigations, and – ultimately – indictments against five major lenders due to widespread [...]
Federal Foreclosure-into-Rental Program Picks Up Steam
The proposal – which would sell foreclosure homes, often in bulk, to private investors from government inventory – is set to go live in the “near term”, according to the Federal Housing Finance Agency. According to reports, the two government-sponsored enterprises will allow pre-qualification for investors and third parties who want to bid on foreclosure properties owned by the government. This effectively opens the doors [...]
Could We Be Seeing A Foreclosure Settlement Soon?
The foreclosure settlement saga continues to drag on and on, and as five of the biggest lenders in the country – Bank of America, Wells Fargo, JPMorgan Chase, Ally Financial, and Citigroup – sit across from a collection of state attorneys-general for yet another week, millions of homeowners, homebuyers, and investors are left waiting for something to
Governments Propose New Deal to Banks; Banks Balk for Now
And so the world continues to turn – unless you’re in the mortgage scandal settlement
Bank of America Making Real Estate News Today
Bank of America – the largest bank in the country by assets – has repeatedly made headlines over the past year due to the incredible number of foreclosures and other distressed properties it has on its books, the robo-signing scandal, and other dubious
Foreclosures Viewed As Solution, Not Problem, By Some After Former FDIC Head Speaks
We've grown accustomed to talking about the foreclosure crisis as one of the main problems with our economy today. (It is also one of the best investment opportunities of the past 50 years.) But, we've never heard anyone say that foreclosure is the solution, not the problem, and increasing the amount of foreclosures is a good thing – until former Federal Deposit Insurance Corporation Chairman Sheila Bair got the ball rolling on [...]
