Feb 9th 2012 12:00PM
WASHINGTON -- Forty-nine U.S. states have reached a $25 billion deal with the nation's biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst. Federal and state officials announced the deal Thursday. It is the biggest settlement involving a single industry since a 1998 multistate... Continue Reading »
Dec 2nd 2011 10:20AM
NEW YORK -- Massachusetts sued five major banks Thursday over deceptive foreclosure practices such as the "robo-signing" of documents, potentially undermining negotiations between lenders and state prosecutors across the nation over the same issue. The lawsuit named Bank of America Corp., JPMorgan Chase & Co., Wells... Continue Reading »
Jan 6th 2011 12:59PM
News stories placing the Mortgage Electronic Registration Systems (MERS) at the center of the foreclosure storm make MERS the villain in this financial crises. While it's true MERS does enable foreclosures, the problem is a lot bigger than the electronic mess at MERS. Courts in some states are refusing to foreclose on... Continue Reading »
Dec 30th 2010 9:21AM
Rob Hahn and Jeff Corbett are partners in 7DS Associates, a strategic management consultancy focused on the real estate business. As industry insiders and observers, they agree on many aspects of the current housing market; they disagree on plenty of others. AOL Real Estate asked them to conduct a dialogue throughout this... Continue Reading »
Dec 20th 2010 1:21PM
You may never have heard of the Mortgage Electronic Registration Systems (MERS), but it's the culprit that enabled many of the "robo-signers" to perpetuate their foreclosure fraud. L. Randall Wray provides an excellent overview of the fraud in a three part series for the Huffington Post. Banks not only created MERS, but... Continue Reading »
