Settlement

The Royal Bank of Scotland Group (RBS) has agreed to a $4.9 billion settlement with the Department of Justice related to the company’s issuance and underwriting of residential mortgage-backed securities (RMBS) between 2005 and 2007
Ocwen Financial Corporation, New Jersey Citizen Action (NJCA), and the New Jersey State Conference of the NAACP (NJ NAACP) are teaming up on Wednesday, Aug. 15, 2018, at the Appian Way in Orange, N.J., to help Ocwen customers explore available solutions to make their mortgage payments more... Keep Reading....
The serious delinquency rate hit an 11-year low and the foreclosure inventory is at a 12-year low, according to new data from CoreLogic
A total of 362,275 properties carried foreclosure filings in the first half of this year, down 15 percent from the same period one year ago, according to new statistics from ATTOM Data Solutions.   A total of 191,914 properties started the foreclosure process in the first six months of 2018, down... more
Royal Bank of Scotland (RBS) has agreed to a $20 million settlement with the State of Illinois in connection to the bank’s marketing and sale of risky residential mortgage-backed securities (RMBS) in the years before the 2008 recession
Royal Bank of Scotland (RBS) has agreed to a $20 million settlement with the State of Illinois in connection to the bank’s marketing and sale of risky residential mortgage-backed securities (RMBS) in the years before the 2008 recession.   The State will divide the settlement proceeds between the... more
PricewaterhouseCoopers LLP (PwC) has been ordered by a federal court to pay the Federal Deposit Insurance Corp. (FDIC) $625.3 million in damages for failing to uncover the fraud that led to the August 2009 closure of Colonial BancGroup Inc.
PricewaterhouseCoopers LLP (PwC) has been ordered by a federal court to pay the Federal Deposit Insurance Corp. (FDIC) $625.3 million in damages for failing to uncover the fraud that led to the August 2009 closure of Colonial BancGroup Inc.   According to a Reuters report, the Montgomery, Ala.-... more
For the first time since the Great Recession, the share of homeowners who owe more than the value of their homes is below 10 percent
For the first time since the Great Recession, the share of homeowners who owe more than the value of their homes is below 10 percent, according to Zillow’s Negative Equity Report covering the fourth quarter of 2017.   Zillow recorded a 9.1 percent share of underwater homeowners in the final quarter... more