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Bank of America Corp. has put most of its legacy issues from the financial crisis behind it and it was a "milestone" for the company, said the bank's CFO Bruce Thompson, speaking at a conference in New York on Wednesday.
Yesterday, we looked at why bankers weren't busted for crimescommitted during the financial crisis. Political corruption, prosecutorial malfeasance, rewritten legislation and cowardice on the part of government officials were among the many reasons.
Tony West, the third-ranking official at the U.S. Department of Justice, has a ready response for critics who question why few individuals have been charged for conduct tied to the financial crisis: just wait.
Ocwen Financial Corporation (NYSE: OCN) received top ratings for how it manages compliance under the federal Home Affordable Modification Program (HAMP), a boon for the company following recent downgrades to its mortgage servicing quality.
As the role of Freddie Mac and its government sponsored enterprise counterpart, Fannie Mae, have grown in the housing market, both enterprises have looked to various methods to share some of the credit risk that stems from their support of the mortgage market.
The U.S. economy is improving and, with it, rents are rising nationwide. In many U.S. markets, on a monthly basis, it's more expensive to rent a home than to own one.
Consumer sentiment toward housing appeared to turn a bit negative in August.
Hey, look, it's another bill with the word "affordable" in its title. Rep. Blaine Luetkemeyer, R-Mo., recently introduced the Access to Affordable Mortgages Act (H.R.5148), which aims to exempt certain higher-risk loans from property appraisal requirements under the Truth in Lending Act (TILA).
Sen. Elizabeth Warren and other senators confronted regulators Tuesday over the fact that no top bankers are in jail.
The Great Recession of 2008 that touched nearly every aspect of our economy can be traced the housing market bubble, artificially inflated by years of failed federal mortgage and housing policies, and bad actors in the marketplace.
The U.S. Federal Housing Administration started selling distressed loans in 2012 to help communities hit hard by foreclosures while also reducing losses to its taxpayer-backed insurance fund.
The Federal Housing Administration wants lenders to make fewer mistakes when writing mortgages for the government insurance program.
Elder financial fraud rakes in nearly $3 billion every year, wiping out many families’ retirement income streams. In an effort to further prevent and combat elder abuse and financial exploitation, the U.S. Department of Justice (DOJ) has recently launched the Elder Justice website.
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.
Morgan Stanley has agreed to pay $95 million to resolve a lawsuit accusing the Wall Street bank of misleading investors in mortgage-backed securities in the run up to the 2008 financial crisis.
New York Attorney General Eric T. Schneiderman and others have made a big push in recent months to pass legislation to prevent so-called "zombie foreclosures," which have become a significant problem in the state.
Standard & Poor’s (MHFI)’ chances of settling the government’s lawsuit over mortgage-bond ratings for less than $1 billion may have slipped away after Bank of America Corp.’s Countrywide unit was socked with a $1.3 billion fine.
The Mortgage News Ticker is a collection of news articles, magazine stories and blog posts from around the web. The opinion expressed are those of the news sources and do not reflect that of National Mortgage Professional Magazine, NationalMortgageProfessional.com, NMP Media Corp. or its affiliates.