Posts with tag robosigning

While millions of Americans were affected by the robo-signing scandal that resulted in massive amounts of improper foreclosures over the past several years, it seems that a number of those victims were military members. In all, some of the nation's largest mortgage lenders improperly foreclosed upon some 700 military... Continue Reading »

Some of the most publicly reviled banks are currently industry leaders when it comes to good service, according to a report by Fannie Mae released Thursday. Fannie Mae gave three-star ratings to CitiMortgage, JPMorgan Chase, Ally Bank and Wells Fargo -- four of the five largest U.S. mortgage servicers, which were involved... Continue Reading »

Like a dark, ominous cloud, the menace of a foreclosure onslaught has loomed portentously over the U.S. real estate market in recent months, threatening to wash away a fledgling recovery. Now it looks like the storm has hit -- but this time we may be ready for it. After more than two years of sputtering, the... Continue Reading »

Borrowers who think banks improperly foreclosed on them between 2009 and 2010 now have more time to request an independent review that could compensate them. The Office of the Comptroller of the Currency and the Federal Reserve announced Wednesday that they are extending the deadline for qualified borrowers to ask for an... Continue Reading »

Marking the conclusion of the largest joint state-federal settlement in history, the National Association of Attorneys General announced today that the nation's five largest mortgage servicers -- Bank of America Corporation, JPMorgan Chase & Co., Wells Fargo & Company, Citigroup, Inc., and Ally Financial -- have... Continue Reading »

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 »

In today's post-bubble housing market, it's not uncommon for landmark buildings to fall into foreclosure. But this Atlanta tower is noteworthy for two reasons – it's the tallest skyscraper in the Southeast, and its sale smacks of irony. The Bank of America Plaza, the 55-story skyscraper where BofA still holds... Continue Reading »

WASHINGTON -- The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday. A draft settlement between the banks and U.S. states has been sent to state officials for review. Those who lost... Continue Reading »

By Les Christie NEW YORK (CNNMoney) -- Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight. Among the tactics: Challenging the bank's actions, waiting to file paperwork right up until the deadline, requesting the lender dig up... Continue Reading »

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 »

Improper foreclosure practices are so widespread in Las Vegas that one reporter trying to expose them found that he too was a victim. George Knapp, chief investigative reporter for Las Vegas CBS affiliate KLAS, was investigating how "tens of thousands" of people who thought they were homeowners turned out not to actually... Continue Reading »

By Loren Berlin The Office of the Comptroller of the Currency issued a report Tuesday naming the independent auditors who they've assigned to review the files of Americans who may have been mistreated during recent foreclosure proceedings. But the announcement set off a firestorm of criticism from consumer advocates, who... Continue Reading »

What goes around comes around. Well, at least in the case of a "foreclosure mill" that mocked the beleaguered homeowners that it helped remove from their homes. The same foreclosure law firm that held a homeless-themed Halloween party and has been investigated by the government for unlawful business practices has gotten a... Continue Reading »

By Arthur Delaney and Loren Berlin The Nevada attorney general has indicted two midlevel staffers at a mortgage document company, Lender Processing Services, on a whopping 606 counts of felony and gross misdemeanor for directing employees to forge signatures and falsely notarize documents used to illegally foreclose on... Continue Reading »

With the national foreclosure settlement ramping up, victims of the housing crisis may finally be getting some satisfaction. Starting this week, more than 4 million homeowners who faced foreclosure between 2009 and 2010 may be able to get their cases reviewed to determine whether their lenders engaged in robo-signing and... Continue Reading »