Obama Creates Unit to Probe Mortgage Misconduct by Banks – Businessweek
Jan. 25 (Bloomberg) — President Barack Obama’s mortgage investigation unit will probe bank conduct that created the housing bubble and bust, including the packaging of loans into securities, the New York Attorney General said. The president …
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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…
Bank of America Corp. (BAC) was given a subpoena by California’s attorney general for information related to the packaging and sale of mortgage-backed securities, a person familiar with the matter said. The subpoena, delivered Oct. 18 … Go to Source…
(CNN) — Buried deep within President Barack Obama’s $3.73 trillion budget for 2012 are changes to the tax code that directly affect homeowners, including a significant shrinking of the mortgage-interest deduction. For every dollar a middle-class family … Go to Source…
Oct. 27 (Bloomberg) — Merscorp Inc., the operator of a national mortgage registry used by banks, was sued by Delaware’s attorney general for allegedly using deceptive practices that hide information from borrowers. The MERS database, which … Go to Source…
Bank of America Corp. says it is splitting its mortgage business into two units, with one dedicated specifically to handle foreclosures and discontinued loan products. The Charlotte, N.C.-based bank says this unit will be responsible for resolving issues … Go to Source…
MSNBC.COM – As many as 40 state attorneys general in the United States are expected to announce an investigation into the mortgage servicing industry on Wednesday, the Wall Street Journal said. The investigation may help pressure financial institutions to rewr Go to Source…
A criminal investigation into mortgage swindlers has expanded beyond deceptive advertising on Google’s Internet search engine to root out con artists who were luring their victims on Bing and Yahoo, too. Monday’s news of the widening probe confirmed that … Go to Source…
ATLANTA — The Georgia Bureau of Investigation could soon get the power to investigate … floor leaders in the Senate, has introduced legislation that would create a special unit from the GBI, the Department of Banking and Finance and local law … Go to Source…
New York Attorney General Eric Schneiderman and Delaware Attorney General Beau Biden are looking into whether Wall Street firms bothered to pass along the appropriate paperwork when they took individual home loans and repackaged them into securities for sale. New York Times’ Gretchen Morgenson and Housing Finance Expert Josh Rosner discuss the mortgage mess on msnbc. (Dylan Ratigan Show) Go to Sou…
President Barack Obama’s $275bn housing and mortgage plan would allow homeowners to rework their mortgages. Financial markets greeted the plan with skepticism, and it’s unlikely to find much support among Republicans on Capitol Hill. Go to Source…
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