Monthly Archives: September 2011

Nevada v. Bank of America

Nevada v. Bank of America Nevada v. Bank of America Second Amended Complaint The state of Nevada targets virtually all aspects of the bank’s mortgage operations in its lawsuit. Bank of America has previously denied wrongdoing. The sweeping new suit … Continue reading

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Faulty mortgages and foreclosures cost banks billions

September 16, 2011: Faulty mortgages and foreclosure abuses have cost the nation’s five biggest home lenders at least $65.7 billion, according to a tally by Bloomberg News, and new claims may push the industrywide total to twice that amount. Bank … Continue reading

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Bank of America hacks and sacks its way back to prosperity

September 14, 2011: The losses from the Bank of America’s mortgage operations are not just vast, they are literally incalculable. Since the start of the fourth quarter of last year the bank has written off more than $30 billion in … Continue reading

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Notices of Default Jumped 55% in California

September 14, 2011: The big increase in new foreclosure actions may be a signal that lenders are starting to push through some of the foreclosures delayed by robo-signing and other documentation problems,” RealtyTrac CEO James Saccacio said. “It also foreshadows … Continue reading

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Foreclosure Sale Postponement

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U.S. Government Sues Banks

September 5, 2011: A bruising legal fight pitting the country’s most powerful banks against the full force of the United States government began Friday, as federal regulators filed suits against 17 financial institutions that sold the mortgage giants Fannie Mae … Continue reading

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Self Harm from Fannie and Freddie

September 4, 2011: AS BARACK OBAMA casts around for ways to bolster the American economy, one area of focus is a still-moribund housing market. He could start by taking a closer look at Fannie Mae and Freddie Mac, America’s housing-finance … Continue reading

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