Headlines and Blogs from Around the Web
The world’s biggest banks have now paid more than $142 billion in fines for wrongdoing tied to the financial crisis. That’s a huge number — but it pales compared to what tobacco companies have paid for their transgressions.
Bank of America falsely certified that its home modification loans complied with federal laws in order to reap more than $907 million in government incentive payments, a man claims in a qui tam lawsuit in Federal Court.
The court-appointed trustee overseeing the liquidation of Thornburg Mortgage Inc. has reached a deal with Barclays Capital Inc. to settle a subprime-era lawsuit alleging the bank made improper margin calls that helped drive the mortgage lender into bankruptcy.
Countrywide Financial Corp. co-founder Angelo Mozilo hasn’t entirely escaped prosecutors’ wrath for his company’s risky lending.
Cash sales made up 34.4% of total home sales in the United States in May 2014, the lowest share since May 2010, the latest data shows.
Bank of America's much-anticipated settlement with the U.S. Justice Department over fraudulent mortgage securities the bank sold to investors is less punitive than the $17 billion price tag suggests and does not address the wrongs it purports to remedy
Almost half of single homebuyers aged 25 to 50 reported that it was "very important" to them to own a home, according to Century 21's Singles Homebuyer Survey released on August 20.
Kate Berry reported in American Banker and SourceMedia’s National Mortgage News on how a $616 servicing error snowballed into a $16 million jury verdict.
As we all know, Citigroup used its second-quarter earnings release as an opportunity to announce that it finally reached a settlement with the Department of Justice over its mortgage practices. Will we see a similar announcement soon from Bank of America over its soured mortgage-backed securities?
A U.S. appeals court has handed a major victory to a federal regulatory agency suing big banks over the sale of toxic mortgage-backed securities to since-failed credit unions, ruling that the lawsuits were not filed too late.
A day after a new survey revealed home building confidence is at a seven-month high, home improvement giant Home Depot has reported more good news for the housing market: the nation’s largest home improvement chain said Tuesday that its second quarter sales results were higher than what analysts had expected, and that the activity the retailer has seen in the first half of 2014 is leading it to raise its full-year earnings forecast.
Seven months after the implementation of its ability-to-repay and qualified mortgage (QM) rules, the Consumer Financial Protection Bureau (CFPB) announced it is increasing the loan thresholds used to determine the maximum points and fees for QM loans effective January 1, 2015.
If you're at all a follower or observer of international headlines, you'll agree that that global unrest is increasing ...
If you are looking for some light reading these last few weeks of summer, you might want to take a look at the recently released proposed rule regarding changes to the Home Mortgage Disclosure Act also known as Regulation C.
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.