The full story of the Ibanez case
Back in 2005 in Springfield, Massachusetts… Continue reading: The full story of the Ibanez case
View ArticleFines imminent for mortgage servicers
Regulators are preparing to issue mortgage servicers with fines after a report found ‘critical deficiencies’ in the way they handled foreclosures, Reuters reports. Prepared congressional testimony by...
View ArticleUS pushes mortgage servicing settlement
The Obama administration is trying to push through a settlement over mortgage-servicing breakdowns that could make the US’s biggest banks pay for reductions in loan principal worth billions of dollars,...
View ArticleSettling an ‘average’ mortgage servicing industry
That’s the 27-page term sheet handed out to mortgage servicers by regulators, and obtained by Cheyenne Hopkins at American Banker on Monday. The document itself is part of a mass Spitzer-style...
View ArticleDual track no more
Nestled in the 27-page mortgage settlement term-sheet which surfaced earlier this week, is a clause that could have big consequences for mortgage investors. It looks like this:Continue reading: Dual...
View ArticleGoldman looks to exit mortgage servicing
Goldman Sachs is exploring options for its mortgage servicing division including a sale that would end its foray into collecting on delinquent borrowers, the FT says. Goldman bought Litton Loan in 2007...
View ArticleCritical signs in foreclosure settlement
Hopes are fading for a far-reaching settlement between regulators and banks over improper home foreclosures as some regulators press ahead to reach their own settlements with banks that others involved...
View ArticleAlly Financial shelves $5bn offering
Ally Financial, the US home and car loan company, is set to shelve its IPO plans because of weak market conditions and impending fines due to its mortgage foreclosure practices. Ally declined to...
View ArticleWaiver push delays foreclosure settlement
A grand settlement on states’ foreclosure investigations remains out of grasp because banks want a legal waiver that would cover lending and securitisation in addition to servicing, the WSJ reports....
View ArticleUltimate Statistics Senator takes on US regulators’ $9.3bn foreclosure agreement
FT Alphaville does like a good Senate Banking Hearing. Especially when they feature a political body slam on proper statistical methods. And so we are proud to announce this month’s Ultimate Statistics...
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