webmaster@technorati.com wrote an interesting post today onHere’s a quick excerpt HULIQ States, Obama Shake Down Banks in $25 Billion Mortgage SettlementNational Legal and Policy CenterBut on Thursday, February 9, attorneys general representing nearly all 50 states made the announcement: Five banks will pay a combined $25 billion over three years in civil penalties and [...]

May 26 (Bloomberg) — www.bloomberg.com Credit Suisse Group AG, Goldman Sachs Group Inc. and Royal Bank of Scotland Group Plc each borrowed at least $30 billion in 2008 from a Federal Reserve emergency lending program whose details weren’t revealed to shareholders, members of Congress or the public. The $80 billion initiative, called single-tranche open-market operations, [...]

webmaster@technorati.com wrote an interesting post today onHere’s a quick excerpt Global Economic Intersection Holder’s Law Firm Has Questionable Ties to Mortgage Banks, DC Government and …Big GovernmentThat involved mortgage servicer employees falsely signing and swearing to massive numbers of affidavits and other foreclosure documents that they had never read or checked for accuracy. Covington [...]

webmaster@technorati.com wrote an interesting post today onHere’s a quick excerpt US banks scale back mortgage collectionFinancial TimesMany large US banks are scaling back their mortgage-collection operations, once-lucrative businesses that face heightened scrutiny as the new consumer finance regulator vows to step up its oversight of the industry. …and more » Share and Enjoy: Read the [...]

webmaster@technorati.com wrote an interesting post today onHere’s a quick excerpt Hungary Banks Offer to Book More Losses on FX-Mortgage LoansBusinessWeekHouseholds are struggling to repay foreign-currency mortgages, which account for more than two-thirds of all housing loans, after a slump in the forint boosted repayments and triggered defaults. Hungary in September passed a law allowed [...]

webmaster@technorati.com wrote an interesting post today onHere’s a quick excerpt In These Times Michael Bloomberg: ‘It Was Not the Banks That Created the Mortgage Crisis’GawkerIt was not the banks that created the mortgage crisis. It was, plain and simple, Congress who forced everybody to go and give mortgages to people who were on the [...]

webmaster@technorati.com wrote an interesting post today onHere’s a quick excerpt State lawsuit names banks in federal complaintsHouston ChronicleThe federal lawsuits accused Bank of America, Citigroup Inc., JP Morgan Chase & Co., Goldman Sachs and others of selling Fannie Mae and Freddie Mac billions of dollars’ worth of mortgage-backed securities that turned toxic when the [...]

webmaster@technorati.com wrote an interesting post today onHere’s a quick excerpt Neon Tommy US lawsuits could cost British banks £5bn over subprime mortgage scandalThis is MoneyBy This Is Money Reporter British banks could be forced to pay out more than £5billion in damages related to the subprime mortgage scandal. Regulators in the US have filed [...]

webmaster@technorati.com wrote an interesting post today onHere’s a quick excerpt The Atlantic UK banks face US lawsuit over toxic mortgage debtTelegraph.co.ukLeading UK banks ignored warnings from third party advisers before selling on billions of dollars of toxic mortgage debt to Fannie Mae and Freddie Mac in the lead-up to the financial crisis, court papers [...]

News Sources wrote an interesting post today onHere’s a quick excerpt The Banks Still Want a WaiverNew York TimesA looming issue relates to the potential liability stemming from the Mortgage Electronic Registry Systems, or MERS. This company, owned by the major banks, was set up in the mid-1990s by the Mortgage Bankers Association, Fannie [...]