Posts Tagged “Mortgage”
S&P E-Mails on Mortgage Crisis Show Alarm and Gallows Humor
by The Compliance Exchange on February 6, 2013
The executive at Standard & Poor’s was clear: “This market is a wildly spinning top which is going to end badly.” That sober assessment of certain mortgage-related investments, delivered to colleagues in a confidential memo in December 2006, is now (…)
Consumer Bureau Issues Rules to Clean up Mortgage Servicing
by The Compliance Exchange on January 17, 2013
The U.S. Consumer Financial Protection Bureau announced new rules for mortgage servicers on Thursday to help prevent the sloppy practices that aggravated the U.S. foreclosure crisis.
U.S. Consumer Watchdog to Issue Mortgage Rules
by The Compliance Exchange on January 11, 2013
Banks and other lenders will be prohibited from making home loans that offer deceptive teaser rates or require no documentation from borrowers, and will be required to take more steps to ensure that borrowers can repay, under new consumer protections to be announced on Thursday.
Consumer Watchdog Tightens Mortgage Lending Rules on Banks
by The Compliance Exchange on January 10, 2013
More than five years after the housing market collapsed, the U.S. government’s newly created consumer watchdog said Thursday it will force banks to verify a borrower’s ability to repay loans to ward off the kind of loose lending that helped push the U.S. economy into recession.
Bank of America to pay $3.6 billion to Fannie Mae to settle mortgage claims
by The Compliance Exchange on January 7, 2013
Bank of America Corp said it will pay $3.6 billion to Fannie Mae to settle claims related to residential mortgage loans for the nine years to the end of 2008.
Banks Seek a Shield in Mortgage Rule
by The Compliance Exchange on December 18, 2012
As regulators complete new mortgage rules, banks are about to get a significant advantage: protection against homeowner lawsuits.
Goldman Urges Supreme Court to End Mortgage Class-Action
by The Compliance Exchange on November 5, 2012
Goldman Sachs Group Inc (GS.N) has urged the U.S. Supreme Court to throw out a mortgage securities class-action lawsuit that it said could cost Wall Street tens of billions of dollars.
New York Mortgage Trial Could Have Broad Impact on Wall Street
by The Compliance Exchange on October 11, 2012
A Michigan bank accused of misstating the quality of home loans it repackaged into mortgage-backed securities is set to go to trial on Wednesday, in a case that could affect pending lawsuits against some of Wall Street’s biggest firms.
Exclusive: Credit Suisse Probed Over Mortgages – Sources
by The Compliance Exchange on October 5, 2012
U.S. federal and state authorities are investigating Credit Suisse AG over mortgage-backed securities packaged and sold by the bank
Plea deal seen in Queens mortgage-fraud scheme
by The Compliance Exchange on September 21, 2012
Southeast Queens real estate magnate Edul Ahmad has reached a tentative plea agreement with federal investigators on charges that he orchestrated a $50 million mortgage fraud scheme
