Excerpt: MetLife Inc., the life insurer that’s eliminating most of the 4,300 jobs at its mortgage unit and selling deposits to reduce federal oversight, is finding it harder to escape risk from home loans. The loan-servicing operation is bracing itself … Continue reading
Home appraiser blacklists probed Excerpt: Clay Gregory is a Valley home appraiser who is spending a lot of time at home these day, but it’s not by choice. “I was put in a position where they pretty much demanded information … Continue reading
Fannie Mae and Freddie Mac to Streamline Short Sales Excerpt: The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to develop enhanced and aligned strategies for facilitating short sales, deeds-in-lieu and deeds-for-lease in order to help … Continue reading
Excerpt: For years treasury secretary Tim Geithner lectured Europe on the need to rescue banks as a prerequisite for rescuing economies – and look at the US economy now America’s banks are bigger than ever. JP Morgan Chase, Bank of … Continue reading
Excerpt: The agreement with the 49 state attorneys general, the Justice Department and the Department of Housing and Urban Development settles a wide-range of foreclosure abuses from improperly prepared affidavits to allegedly forged notarization signatures and botched modification attempts. The … Continue reading
“The storm surge of foreclosed properties on bank books shows little indication of ebbing, and institutions continue to be drowned by it. Among the entities with the 25 highest percentages of repossessed assets (or “other real estate owned,” in industry … Continue reading
(Click on the image for larger size.) “Bank of America, J.P. Morgan and Wells Fargo now have 33% of all U.S. deposits, up from 21% in mid-2007-the fastest shift of such a large chunk of deposits in U.S. history. The … Continue reading
After conducting stress and sustainability tests on hundreds of U.S. banks, Invictus Consulting Group found 758 American banks are at risk of failing. The research and analysis firm said without corrective action or plans to merge and raise capital, it’s … Continue reading
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, you can see what they were hiding. Be sure to roll the interactive tool … Continue reading