foreclosures

Wells Fargo, Philadelphia reach settlement in redlining lawsuit

12/16/19

Without admitting wrongdoing, the bank has agreed to contribute $10 million to city programs promoting home ownership for low- and moderate-income residents.

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Subprime mortgages keep minting cash for ex-Bear Stearns banker

11/11/19

Tom Marano, a former Bear Stearns banker, was apparently well compensated following the housing crisis for heading up ResCap and Ditech, both of which went into bankruptcy.

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Citi fined $30 million over how it handled foreclosed property

10/11/19

The Office of the Comptroller of the Currency found deficiencies related to the bank's holding period for "other real estate owned."

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GAO calls for more scrutiny of reverse mortgage servicing

09/26/19

The Federal Housing Administration should monitor reverse mortgage servicers more closely and track related data that would shed light on a rise in defaults, according to a Government Accountability Office report.

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Farm foreclosures rise as trade war drags on

09/11/19

Banks are taking back more farmland through foreclosure than at any point in the past three years as low crop prices, epic flooding and the Trump administration’s trade spat with China have left many farmers struggling to pay their debts.

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Lender risk from CFPB underwriting rule tested in Ohio case

08/15/19

The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying.

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Banks nearly have REO monkey off their backs a decade after crisis

07/14/19

Lenders have reduced their holdings of foreclosed one- to four-unit family residences to roughly $2.6 billion of homes, down from more than $14 billion in 2010. Economists expect the trend to continue, but there are red flags to keep an eye on.

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Did Ben Carson just mistake an REO for an Oreo?

05/21/19

Secretary of Housing and Urban Development Ben Carson appeared not to recognize a commonly known real estate term during a congressional hearing on Tuesday.

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Jesse Jackson wants banks to take a stand on how fines are used

04/16/19

Civil rights activist Jesse Jackson is pushing a proposal that the billions banks have paid in fines be given to Americans who lost homes or suffered in other ways during the financial crisis.

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House Democrat moves goalposts for GSE reform

04/02/19

Rep. Gregory Meeks of New York signaled which legislative provisions Democratic leaders would accept in a bipartisan housing finance package.

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