Dec 19th 2011 1:40PM
WASHINGTON -- Congressional investigators said Monday that four House members received VIP discounted loans from the former Countrywide Financial Corp., the lender whose subprime mortgages was largely responsible for the nation's foreclosure crisis. Rep. Darrell Issa (R-Calif.), chairman of the House Oversight and... Continue Reading »
Sep 14th 2011 5:30PM
The Labor Department ordered Bank of America to reinstate and pay $930,000 to a employee, who was fired after reporting instances of possible fraud among Countrywide Financial Corp. employees. The Labor Department's Occupational Safety and Health Administration division in San Francisco launched an investigation after a... Continue Reading »
May 24th 2010 2:00PM
Ever wish mortgage lenders could get a dose of the same bitter medicine they doled out to homeowners? Well, your dreams may soon be reality. Bond insurers, who guaranteed loan payments for mortgage-backed asset pools of home equity lines and loans, are seeking billions of dollars from Bank of America because of loans made... Continue Reading »
Feb 23rd 2010 1:00PM
The check's in the mail. The money promised to homeowners in Florida and 39 other states -- part of a 2008 settlement with a mortgage lender that came to symbolize the worst practices in the realm of subprime lending -- began to flow last week. Some 2,700 Florida residents who had lost their homes after Countrywide... Continue Reading »
Jan 18th 2010 11:00AM
Mortgage modifications were going to help up to four million Americans save their homes, remember? That was the claim of the Obama Administration when it announced its Making Home Affordable program in early 2009. Yet more than three million applications later, only about 100,000 mortgages have actually been modified under... Continue Reading »
