Mortgage Fraud Still Rampant – Forbes
If President Obama is serious about forming a new unit to prosecute financial and mortgage crimes, the first place he should look is at operators who are fleecing desperate homeowners. Scams that target these down-on-their-luck folks are rampant.
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More Mortgage Stuff:
Citigroup has agreed to pay $158.3 million to settle claims that its mortgage unit duped the U.S. government into insuring risky mortgage loans for over six years. The government said Wednesday that Citi Mortgage certified 30,000 mortgages for … Go to Source…
WASHINGTON, Nov 17 (Reuters) – The Obama administration created a new task force on Tuesday vowing to crack down on financial fraud following a rise in mortgage scams and high-profile Wall Street trading scandals. President Barack Obama signed an … Go to Source…
BusinessWire – Fitch Ratings has downgraded five classes of notes issued by Fort Point CDO I, Ltd.(Fort Point). These rating actions are the result of severe credit deterioration among 2004, 2005, and 2006 vintage residential mortgage-backed … Go to Source…
Right on the heels of a foreclosure fiasco that saw a number of firms impose temporary moratoriums to sort out faulty procedures , the latest crisis in the banking sector relates to mortgage “putbacks,” or investors pushing companies to repurchase … Go to Source…
Bank of America’s (BAC) fourth-quarter earnings report showed the bank continuing to wrestle with mortgage-related headaches. First take, things look good. Bank of America’s mortgage banking unit earned $2.12 billion, versus an estimate of a … Go to Source…
Freddie Mac has named Ross Kari as its new chief financial officer. Kari joins the government-controlled mortgage finance company from Fifth Third Bancorp, where he had been CFO. Freddie Mac has named Ross Kari as its new chief financial officer … Go to Source…
WASHINGTON — An exit from government bailout programs is getting father away for four struggling U.S. firms that continue to draw on taxpayer funds, financial records show. While Bank of America, Citigroup, Wells Fargo & Co. and General Motors Co … Go to Source…
WASHINGTON — An exit from government bailout programs is getting father away for four struggling U.S. firms that continue to draw on taxpayer funds, financial records show. While Bank of America, Citigroup, Wells Fargo & Co. and General Motors Co … Go to Source…
TRENTON, N.J. — State officials say the owner of several loan modification companies in New Jersey has agreed to pay $805,000 to settle charges that he defrauded struggling homeowners. Attorney General Paula Dow says Stephen Pasch also agreed to stay out … Go to Source…
U.S. Attorney General Eric Holder Friday announced the formation of a task force focused on probing residential mortgage-backed securities following President Barack Obama’s call for a unit to probe the finance industry’s conduct leading up to … Go to Source…
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