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    Bank of America Settles Claims for Record $16 Billion

    Author: Tory Barringer

    Bank of America announced Thursday morning it has agreed to pay a record $16.65 billion to resolve claims related to the sale of toxic mortgage-backed securities during the years leading up the financial...


  • Foreclosure, REO, News, Webcast
  • courtroom-justicescales


    Investors Sue Federal Government Over GSE Profits

    Author: Brian Honea

    New York-based hedge fund giant Pershing Square Capital Management sued the U.S. government on August 14, alleging that common stockholders in Fannie Mae and Freddie Mac have been short changed since the...


  • Foreclosure, REO, News, Webcast



  • Illinois Legislative Update: Senate Bill 2664

    The first bill, Senate Bill 2664, sponsored in the Senate by Sen. John Mulroe (D-Chicago) and Rep. Sam Yingling (D-Hainesville), is designed to prevent abuses by condominium associations by limiting the fees that can be applied to the buyer of a foreclosed property and to facilitate the sale of the property to the new buyer.

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  • Are Mortgage Underwriters Exempt?

    Are Mortgage Underwriters Exempt Employees?

    In order to qualify as an exempt employee under the Fair Labor Standards Act, an employer must show, among other factors, that the employee’s primary duty is “the performance of office or non-manual work directly related to the management or general business operations of the employer or the employer’s customer.”

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