In keeping with the trend of hiring people good at destroying things, here's another great Trump appointment.
Mel Watt needs to be confirmed - now.
Occupiers and other activist groups paid a visit to "the blood-sucking vampires of the housing crisis."
JP Morgan Chase revealed in a regulatory filing Wednesday that the bank faces civil and criminal investigations over its dealing of shoddy mortgage securities that led to the 2008 financial crisis.
I'm sure the banks will be dealt with just as severely as they were the last time they engaged in massive fraud. Oh, wait: (Reuters) - Mortgage finance giants Fannie Mae and Freddie Mac may have suffered more than $3 billion in losses due to
By Paul Kiel, ProPublica An executive who the Justice Department says facilitated a scheme to defraud Fannie Mae and Freddie Mac is now spearheading JPMorgan Chase's role in the government's program to compensate victims of the big
Federal prosecutors hit Bank of America with a $1 billion lawsuit Wedesday, accusing the bank of mortgage fraud that contributed to the housing crisis. Bank of America became entangled in the scheme -- known as “High-Speed Swim Lane” or “Hustle” -- when it purchased Countrywide Financial in July 2008, just as the economy was slipping into recession. Countrywide, a mortgage lending giant, was already known for approving risky loans when it introduced its “Hustle” program to churn out more loans, effectively eliminating a system that ensured the mortgages were being made to buyers who could afford them. A top U.S. attorney said the bank’s fraud was “spectacularly brazen in scope.”
Federal watchdog says mortgage giant had no coordinated plan to bet against homeowners, though Freddie held billions of dollars of investments that paid off if borrowers stayed stuck in high-interest loans.
Members of Occupy Our Homes Atlanta and demonstrators from across the region marched to Fannie Mae's regional office to demand that they help homeowners having difficulties making their monthly payments.
This really is a kick in the gut to struggling homeowners. To turn this into a straight transaction analysis when underwater mortgages are such a huge drag on the economy is just plain crazy: The federal regulator for government-backed mortgage
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