National Mortgage Settlement

National Mortgage Settlement: Monitor Says Banks Complete Consumer Relief Requirements

The overseer of the National Mortgage Settlement says the remaining four top lenders under the agreement — Bank of America, Chase, Citi and Wells Fargo — have satisfied their consumer relief and refinancing ...
federal income tax return

Are 2013 Payouts from Foreclosure Settlements Taxable? IRS Addresses Murky Issue

An estimated 5 million borrowers in 2013 received payouts from two huge settlements with the biggest banks over alleged foreclosure abuses or mortgage-aid deficiencies since the housing meltdown of 2007-2008. The ...
joseph-smith2

Mortgage Settlement Monitor: Banks Need to Regain Customers’ Trust

The big U.S. mortgage servicers are still failing to completely hold up their end of the deal known as the National Mortgage Settlement, which aims to provide new protections for delinquent borrowers who may face ...
foreclosure-filing

Massachusetts Prohibits Foreclosing During Mortgage Modifications

Homeowners in Massachusetts have gained new protections against unfairly losing their homes, including a regulation that prevents national and state lenders from foreclosing if an application for a loan modification ...
national-mortgage-settlement

Mortgage Settlement Monitor: Bank of America Complying at Fastest Pace

Bank of America has moved at a faster clip than Wells Fargo, JPMorgan Chase and Citigroup in meeting obligations to help borrowers facing possible foreclosure under last year’s $25 billion National Mortgage ...
mary-kissel

Mind-boggling: Pundit Says No Homeowners Were Wrongfully Foreclosed

Two huge settlements with the biggest U.S. banks — dubbed the National Mortgage Settlement and the Independent Foreclosure Review — involved millions of wronged homeowners thrust into foreclosure. But ...
wells-fargo-mortgage

National Mortgage Settlement: N.Y. Sues Wells Fargo, BofA Gets Reprieve

New York’s attorney general said he is suing Wells Fargo to get the nation’s largest mortgage lender to comply with new servicing standards under last year’s five-bank settlement spurred by foreclosure-related ...
National Mortgage Settlement

Banks Report $51B in Mortgage Settlement Relief, Monitor Says

Five of the biggest U.S. banks have reported $51.33 billion in mortgage modifications and other foreclosure-prevention measures through June 30th under the landmark settlement reached last year. Joseph A. Smith, ...
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 ...
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