Limiting Immunity for Banks Key in Foreclosure ‘Robo’ Deal
This coming week may finally see a settlement – as high as $25 billion – between states and the nation’s top lenders over improperly processed foreclosures by hired “robo-signers.”
In the final stretch, ...
Obama: Refi Plan Saves ‘Underwater’ Borrowers $3,000 A Year
In a sweeping new plan to help millions of “underwater” homeowners, President Obama today said borrowers can save $3,000 a year on average if Congress approves his program with a price tag of $5 billion to $10 ...
Mortgage Financing Bolsters Wells Fargo’s Record Profit
Propelled by its mortgage business – the biggest in the U.S. – Wells Fargo & Co. reported a record 20 percent jump in fourth-quarter profit, exceeding Wall Street expectations.
Through its core consumer ...
Wells Fargo: Even Wealthy Fear Retirement with Less Money
More than one third of wealthy Americans say they need to significantly cut back their spending to save for retirement, including nearly half of those with $100,000 to $250,000 in investable assets, according to ...
Wells Fargo Lowers Fixed Interest Rates on Student Loans
Wells Fargo said it has reduced fixed interest rates on several of its student loan products from .25 percent to .51 percent, with loans starting at 7.24 percent for those who qualify.
The lender’s products included ...
Mass. State AG Sues Big Banks for ‘Illegal, Deceptive’ Foreclosures
Five of the nation’s largest lenders – Bank of America, Wells Fargo, JP Morgan Chase, Citi, and Ally Financial’s GMAC Mortgage unit – are targeted in a lawsuit brought by Massachusetts Attorney General ...
Justice Dept: Banks’ Debit-Card Fee Actions Under Antitrust Review
The U.S. Justice Department is reviewing rescinded plans by the nation’s largest banks, including Bank of America and JPMorgan Chase, to implement debit card fees and will take “appropriate action” if violations ...
Wells Fargo Targets Super Rich Households with $50 Million in Assets
Wells Fargo wants a bigger share of the super rich, a pool of roughly 10,000 households in the U. S. with $50 million or more in investable assets that collectively control more than $1 trillion.
And Wells Fargo ...
Wells Fargo Finds Foreclosure Paperwork Problems; No Freeze Planned
Wells Fargo, the nation’s second largest mortgage servicer, concedes that some foreclosure affidavits “did not strictly adhere to the required procedures,” and is submitting additional paperwork on 55,000 ...
Treasury: ‘Robo-Signing’ No Affect on Mortgage Modifications
A top Treasury official overseeing the Obama Administration’s foreclosure relief program said today that the shoddy foreclosure paperwork practice known as robo-signing has not affected mortgage modifications.
Phyllis ...
