elizabeth-warren

Why Did Big Banks Pay So Little Over False FHA Claims?

A U.S. senator known for taking to task regulators and federal authorities over lax settlements with big banks wants answers about one component of the landmark $25 billion deal reached last year to settle foreclosure ...
BankofAmerica-branch

Cost-Cutting Drives Bank of America’s Hefty 63% Profit Surge

The nation’s second-largest bank is fighting headline-grabbing lawsuits alleging misdeeds in helping homeowners avoid foreclosure, but even litigation costs haven’t kept Bank of America from reaping ...
bank-of-america-wells-fargo-mortgage

Monitors Decline, But Big Banks Face Possible New York Lawsuit

The state and federal overseers of the National Mortgage Settlement, known as the Monitoring Committee, have declined to take additional enforcement action against Bank of America and Wells Fargo, rejecting a request ...
HUD-chief-Donovan

Mortgage Settlement Update: More Banks, Less Dual-Tracking (Possibly)

Major developments in the National Mortgage Settlement this week nearly went unnoticed as the latest report card was released on the five big banks that are currently party to the landmark $25 billion deal to correct ...
joseph-smith-nms-monitor

Despite Flaws, Big Banks Get a ‘Pass’ from Mortgage Settlement Monitor

In contrast to broader and persistent loan-servicing complaints heard from homeowner advocates and state attorneys general, the government-appointed “monitor” over the National Mortgage Settlement found ...
bank-of-america-loan-modifications

Lawmaker: Review Bank of America’s ‘Outright Abuse’ of Consumers

At least one lawmaker wants a government watchdog to investigate the mortgage-modification practices of Bank of America, in the wake of headline-grabbing allegations that the nation’s second-largest bank lied ...
dual-tracking-foreclosure

Mortgage Settlement Banks Getting Away with ‘Dual-Tracking’ Foreclosures

The practice known as ‘dual tracking’ — when a lender moves ahead with foreclosure as it negotiates a loan modification with the same homeowner – persists among the big banks under the National ...
mortgage-payout-taxes

Are Mortgage Settlement Payouts Taxable? Stay Tuned

As checks began rolling out this week to claimants under the National Mortgage Settlement, administrators added new information to the NMS official website. It’s about the pending “tax status” ...
bankofamerica1

Bank of America Rewarded Staff for Steering Clients Into Foreclosure: Lawsuit

Bank of America allegedly denied homeowners mortgage modifications and lied to them as part of a strategy to steer these clients into foreclosure, according to tactics outlined by former bank employees whose accounts ...
pam-bondi

Florida AG: Bank of America has ‘Systemic Problems’ with Mortgage Settlement Rules

Florida’s Attorney General said complaints against Bank of America are revealing patterns of “systematic” rule violations under the National Mortgage Settlement, including lengthy delays in providing ...
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