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AIG sues BofA for $10 billion alleging "massive fraud"

AIG sues BofA for $10 billion alleging

The insurer AIG is suing Bank of America Corp to recover more than $10 billion of losses from a "massive fraud" on mortgage debt, deepening the morass of litigation faced by the largest U.S. bank.

 

Mortgage Rates Reach Record Lows

U.S. mortgage rates dropped to new lows after the latest round of gloomy economic data hurt Treasury yields, according to Freddie Mac's weekly survey of mortgage rates.

 

Bank Of America Seeks Immunity In Mortgage Deal With Prosecutors

Bank Of America Seeks Immunity In Mortgage Deal With Prosecutors

Bank of America is reportedly willing to pay its way out of future mortgage and foreclosure claims.

 

There’s a bigger house of cards that hurt minority homeowners’ wealth

It is far too easy to say that minorities have only themselves to blame for their wealth decline because they bought homes they couldn’t afford. That argument would let so many off the hook. It would excuse the government for its monumental failure to tame predatory lenders. And it would absolve the lenders who came up with exotic mortgages that should never have been pitched ubiquitously, especially not to financially fragile minority borrowers. But blaming the victim is what we do so well in America.

 

450,000 to Get Payments in Countrywide Settlement

450,000 to Get Payments in Countrywide Settlement

Countrywide Home Loans agreed to pay borrowers $108 million for charging excessive fees when they fell behind on their mortgages.

 

Mortgage applications see biggest increase in 4 months: MBA

Mortgage applications see biggest increase in 4 months: MBA

Applications for home mortgages surged last week, racking up the biggest increase in four months on a flood of refinancing demand as interest rates remained low, an industry group said on Wednesday.

 

AP Exclusive: Mortgage 'robo-signing' goes on

AP Exclusive: Mortgage 'robo-signing' goes on

Mortgage industry employees are still signing documents they haven't read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices that led to a nationwide halt of home foreclosures.

 

Spanish mortgage defaulters face debt nightmare

Inma Rodriguez lost her job, and now that she's defaulted on her mortgage, she's about to lose her home. But the nightmare doesn't end there: Once creditors kick her out, she'll still need to pay back the money she borrowed to buy her house....

 

New Housing Program Is Aimed at the Unemployed

An initiative from the Obama administration is meant to allow eligible homeowners to postpone all or part of their mortgage payments for a year or more.

 

Banks cutting principal on some mortgages: report

Banks cutting principal on some mortgages: report

Bank of America Corp and JPMorgan Chase & Co have started modifying tens of thousands of mortgages where the banks deem the loans especially risky, even if the borrowers have not asked, the New York Times reported on Sunday.

 

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