New York Fed Chief Levels Slams Big Banks

Shahien Nasiripour, Huffington Post The head of the Federal Reserve Bank of New York said Thursday that some of America’s largest financial institutions appear to lack respect for the law, a potentially explosive charge against an industry already roiling from numerous government investigations into alleged wrongdoing. William Dudley, one of the nation’s top banking regulators […]

BofA & JPMorgan Say They Have Fulfilled Mortgage Settlement Terms

Wells Fargo says it is “90% of the way” to meeting its obligations, and Citigroup declines to characterize its progress. E. Scott Reckard, Los Angeles Times Bank of America Corp. and JPMorgan Chase & Co. say they have satisfied their obligations to help troubled borrowers under last year’s landmark mortgage settlement with state and federal officials. Another bank […]

NY AG Schneiderman Unleashes On White House Over Mortgage Investigations

Ryan Grim & Shahien Nasiripour, Huffington Post New York Attorney General Eric Schneiderman has privately criticized the Obama administration and the Department of Justice for not aggressively investigating dodgy mortgage deals that helped trigger the financial crisis, according to senators and congressional aides who met with him this month. New York’s top prosecutor is co-chair of […]

California Bar Wants To Create Jungle Law For Homeowners

California State Bar Leaves Homeowners to Fend for Themselves Richard Zombeck, Huffington Post In an unprecedented move that can only be described as stunning ignorance, the California State Bar recently released a legal opinion that will effectively deny legal representation to millions of homeowners faced with foreclosure. The controversy is around SB 94, a law […]

Most aid from mortgage settlement in state going to short sales

In California, little of the relief from Bank of America, JP Morgan Chase and Wells Fargo has gone toward principal reduction to help families keep their homes. Alejandro Lazo and E. Scott Reckard, Los Angeles Times Big banks are giving billions of dollars to distressed California homeowners through a landmark mortgage settlement — but mostly […]

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