Headlines and Blogs from Around the Web
A new study ranking 12 top mortgage lending sites found that many banks are falling short of a home buyer's needs, with overly complicated and impersonal sites deterring would-be mortgage shoppers from taking action.
As part of its $13 billion settlement with the government this week, JPMorgan Chase agreed to abandon a bid to have the Federal Deposit Insurance Corp. absorb some of the losses on faulty mortgage securities sold by Washington Mutual, the failed bank it bought out of receivership five years ago.
The Justice Department’s $13 billion mortgage securities settlement with JPMorgan Chase & Co. (JPM) is a record and also a rarity -- Attorney General Eric Holder’s first big win against a bank at the heart of 2008’s financial crisis.
JPMorgan Chase (JPM) put to rest outstanding residential mortgage-backed securities litigation Tuesday, giving investors some hope in the firm's ability to put legacy home loan issues behind it.
One of Janet Yellen’s first challenges as Federal Reserve chairman will be figuring out how to cushion against a lurch in interest rates when she pares the pace of the central bank’s bond buying.
While the recession and other economic factors have led younger people to move back home with their parents, for seniors, the decision to live with relatives is driven largely by demographic shifts, according to a Trulia Trends post.
The $8.5 billion settlement reached with Bank of America Corp. gave mortgage-bond investors more than twice what they would have recovered through litigation and was an “easy decision,” an attorney for the trustee who negotiated the deal said.
JPMorgan Chase on Tuesday agreed to a mortgage settlement that will cost the bank $13 billion, a large number that will bolster the government’s claims that justice was done.
Residential Capital LLC, the defunct mortgage company, opened a weeklong bankruptcy trial in which it will fight hedge funds including Aurelius Capital Management LP over a liquidation plan that resolves more than $100 billion in claims.
Bank of America Corp. exceeded $15.06 today, the price on the day before Brian T. Moynihan became chief executive officer almost four years ago.
Democratic lawmakers are still frustrated by a lack of information on the nearly 11-month-old multibillion-dollar settlement U.S. regulators announced to end a troubled review of foreclosure abuses.
While a major push is under way on behalf of reverse mortgage lenders who are seeking referral partnerships with “financial planners,” lenders should be advised that not all planners are alike, those in the community say.
Buoyed by broad-based market optimism, Bank of America Corp. (NYSE:BAC) set a 52-week high of $15.16 per share on Monday morning.
JPMorgan Chase & Co. agreed to drop litigation against the Federal Deposit Insurance Corp. over some mortgage bonds sold by Washington Mutual Inc., clearing the way for a $9 billion accord with state and federal officials, a person briefed on the matter said.
The nation's biggest bank is close to shelling out the largest-ever penalty for a single company in American history.
Banks are complex. Really complex. There are, of course, the derivatives portfolios that approximately zero people in the world truly understand.
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.