National Mortgage Settlement Still Failing 700k+ Homeowners

Ben Hallman, Huffington Post One year after federal bank regulators pledged that a nearly $10 billion legal settlement would quickly deliver cash to foreclosure abuse victims, hundreds of thousands of people are still checking their mailboxes each day, only to find them empty. As of January, about 732,000 settlement checks had not been cashed, according to data […]

NY Appellate Court Says Sanctions Against Wells Fargo Went Too Far

David Dunn, Victoria McKenney and Jessica Ellsworth of Hogan Lovells For Reuters A New York state judge’s order sanctioning Wells Fargo for failing to negotiate during a foreclosure settlement conference violated the bank’s constitutional rights, a state appeals court ruled Wednesday. The Appellate Division, Second Department, reinstated a foreclosure action brought by Wells Fargo Bank […]

After Only Three Weeks On the Job, Warren Demands For More Transparency

Elizabeth Warren Demands For More Transparency On Failed Foreclosure Reviews Ben Hallman, Huffington Post Three influential lawmakers on Thursday called for bank regulators to disclose more details of the $8.5 billion foreclosure abuse settlement reached earlier this month and to reveal what happened during the case-by-case review program it abruptly replaced. In a letter to […]

Foreclosure Review Scrapped On Eve Of Critical Watchdog Report

Ben Hallman, Huffington Post The surprising decision by regulators to scrap a massive and expensive foreclosure review program in favor of a $10 billion settlement with 14 banks — reported by The New York Times Sunday night — came after a year of mounting concerns about the independence and effectiveness of the controversial program. The program, known […]

Mixed news for homeowners facing foreclosure

Ilyce R. Glink, CBS News So-called short-sales of homes are rising, according to HOPE NOW, a private-sector alliance of mortgage investors, servicers, insurers and non-profit counselors. The number of short-sales — when banks accept less money for a home than is currently owed on the mortgage —  crept up in August from the previous month. […]

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