Mortgage Fraud, Scandal | featured news

Analysis: Mortgage probe may open new path for housing relief

Analysis: Mortgage probe may open new path for housing relief

Five major banks could be required to commit roughly $15 billion to reduce principal balances for struggling homeowners and modify loans in other ways under a proposed deal to settle allegations linked to the "robo-signing" scandal... Five major banks could be required to commit roughly $15 billion to reduce principal balances for struggling homeowners and modify loans in other ways under a proposed deal to settle allegations linked to the "robo-signing" scandal.

Senh: Principal reduction and refinancing for underwater mortgages would be a two steps in the right direction. The only problem what happens to homeowners who have already done loan mods? Would they still qualify for principal reduction and/or refinance? It also sucks that certain programs are only available from one bank, but not another.

 

Obama orders task force to fight financial crime

President Barack Obama will issue an executive order Tuesday creating an administration-wide task force to crack down on financial fraud following a rise in mortgage scams and high-profile Wall Street trading scandals, an administration official said.

 

Subscribe to this RSS topic: Syndicate content