Posted by Reuters: Business News on January 3, 2012
(Reuters) – JPMorgan Chase & Co has been sued for $95 million by the trustee for securities marketed in 2005 by the former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans.
Posted by Reuters: Business News on September 1, 2011
WASHINGTON (Reuters) – The Federal Reserve ordered Goldman Sachs to hire an outside consultant to review mortgage loans serviced by a subsidiary in order to identify and compensate borrowers who were wrongly foreclosed upon, the central bank announced on Thursday.
Posted by Reuters: Business News on August 5, 2011
NEW YORK/CHARLOTTE, North Carolina (Reuters) – New York’s attorney general will oppose Bank of America Corp’s $8.5 billion settlement over repurchasing toxic mortgage loans, joining a growing number of unhappy mortgage bond buyers now fighting the pact reached with some of the largest institutional investors in the country.
Posted by Reuters: Business News on July 6, 2011
NEW YORK (Reuters) – Bank of America Corp lost its bid to dismiss a lawsuit accusing it of reneging on promises to help borrowers modify their mortgage loans under a much-criticized federal program.
Posted by Reuters: Business News on May 17, 2011
(Reuters) – New York Attorney General Eric Schneiderman is investigating big banks like Bank of America Corp , Morgan Stanley and Goldman Sachs related to packaging of toxic mortgage loans into securities, the Wall Street Journal reported, citing sources.
Posted by Reuters: Business News on August 16, 2010
WASHINGTON (Reuters) – The Federal Reserve and other top regulators said on Monday reverse mortgages pose “compliance and reputation risks” for lenders, and offered guidance to financial firms on how to avoid such pitfalls.
Posted by Reuters: Business News on July 21, 2010
WASHINGTON (Reuters) – More than 40 employees at mortgage finance giants Fannie Mae and Freddie Mac received special perks on mortgage loans from Countrywide as part of its former CEO’s special VIP program, a top Republican U.S. lawmaker said on Tuesday.
