Markets for financial services often don't work well for consumers. The trial and error technique that consumers rely on in navigating many markets, such as food and clothing markets, does not work well when transactions are large and infrequent.
If you're at all a follower or observer of international headlines, you'll agree that that global unrest is increasing ...
Recent research about student loans and mortgages raises the question of whether having too much debt can make you sick.
Have you ever taken out a loan from a mortgage company or bank only to find out a few months down the road that it's been sold? Don't be surprised if this happens to you -- multiple times -- because it's common that lenders sell mortgages.
In mid-July, Citigroup agreed to pay $7 billion for what the U.S. Department of Justice (DOJ) called "egregious misconduct" related to its handling of subprime mortgages and mortgage securities in the run up to the financial crisis. This was not a singular result. It is part of a trifecta.
It was a gut-level appeal to desperate people locked in a mortgage dispute with their bank.
Almost six years after the financial crisis, JPMorgan, Citigroup, and Bank of America face potential fines of around $12 billion each for their role in mortgage malfeasance.
From the very first day she was allowed to speak with clients at her new law firm job, Michele Stephens wondered if she was doing something unethical. By the time she quit, nearly a year later, she no longer had any doubt about it. “I was told to lie again and again,” she said.
Since time memorial, man has been motivated by an easy buck and short skirts. The recent frenzy of mortgage lenders to repeat the mistakes of history may be upon us again, as some lenders are experiencing 'greed creep' all over again.
While litigation frequently involves multiple and overlapping claims, for the sake of convenience, I consider mortgage modification litigation produced to date by the financial crisis to be proceeding in "three waves." This comment reviews these waves.