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Puerto Rican mortgages: Deeply distressed and suddenly in demand


Distressed-mortgage investors are descending on troubled Puerto Rico. What’s luring them is the opportunity to scoop up home loans and foreclosed properties for pennies on the dollar.


Many get stung by Maryland banking company's bankruptcy plan


The Treasury Department will take a huge hit when Cecil Bancorp sells it bank, while 1st Mariner Bank in Baltimore will see its equity stake completely wiped out. Cecil opted for bankruptcy court when it was unable to resolve an impasse over its trust-preferred stock.


HSBC in talks with U.S. to end crisis-era mortgage probe


If HSBC reaches an agreement with the government, it could give an early indication of how the Trump administration will levy financial penalties.


Housing groups take aim at flood insurance bills


The National Association of Home Builders is objecting to a measure that would impose a surcharge on National Flood Insurance Program policies for newly constructed homes.


Five flood insurance bills clear Financial Services Committee


The House Financial Services Committee approved several bills Thursday designed to boost the private flood insurance market.


What's next for CFPB's debt collection plan


The CFPB's decision to drop a requirement that third parties verify a debt's accuracy before collecting on it is likely to speed the agency's efforts to write rules for all parts of the debt collection market.


House panel advances two flood insurance changes, but divisions remain


The House Financial Services Committee passed two flood insurance bills, but postponed more work until next week.


Two court decisions, one big blow for cities’ lawsuits against megabanks


While the courts have affirmed cities’ right to file predatory lending suits, they are also now holding them to a much higher standard in proving that banks knowingly steered minority borrowers into high-cost home loans.


Lawmakers to tackle a host of flood insurance reforms


The House Financial Services Committee is slated to vote on several bills Wednesday that are designed to make private flood insurance a viable alternative to the National Flood Insurance Program.


Supreme Court sides with banks in debt servicing case


Banks and other firms collecting defaulted debt originated by another company are not subject to the kinds of restrictions placed on third-party debt collectors, the Supreme Court ruled Monday in a unanimous decision.