The newest innovation in process serving from JJL is TrueServe ESQ, an app that allows the user to pull up an entire array of evidence substantiating JJL's service for a particular case from smartphone or tablet anytime a judge or opposing counsel questions service of process.
Read More »U.S. Homebuyers Have Become More Diversified
Millennials or generation Y (age 35 and under), which is the demographic many analysts have said will be critical for the future health of the housing market, comprised 32 percent of all buyers – the largest share of homebuyers for any age group.
Read More »U.S. Sen. Brown Calls for Action Against ‘Zombie Debts’ on Credit Reports
Many Americans are still having difficulty obtaining mortgage loans due to the adverse impact of the crisis on their credit scores even seven years after the crisis. In mid-July, Brown proposed a bill known as the Consumer Reporting Fairness Act, which would require banks or creditors to notify credit reporting agencies when a bankruptcy extinguishes a consumer's debt.
Read More »DOJ Will Seek to Prosecute Individuals for Their Role in the Crisis
Many have wondered why the DOJ has not previously made the prosecution of these individuals a priority while the Department has entered into multi-billion dollar settlements with the nation's largest banks in the last two years.
Read More »Distressed Sales Share Continues Steady Decline, Falls to 9.4 Percent
REO sales accounted for 6 percent of total home sales in June, which was the lowest level since September 2007 when they made up 5.2 percent of all home sales in the country. REO sales hit their peak in January 2009, when they accounted for 27.9 percent of all home sales. According to CoreLogic, the continued shift away from REO sales is driving home price appreciation, since REO properties typically sell at a larger discount than short sales do.
Read More »Comptroller of the Currency Discusses Progress Made Toward Rehabilitating Urban Communities
Urban stabilization and revitalization have long been at the top of the OCC's national agenda, Curry said, and Cleveland and other Midwestern cities have seen their share of foreclosures, shuttered manufacturers, and population outflow during and since the financial crisis.
Read More »U.S. Rep. Duffy Says Financial Reform Attempts Have Failed America
Duffy said in Wednesday's editorial at the time Dodd-Frank was passed in July 2010, President Obama promised it would "lift the economy," stabilize markets, protect Americans' hard-earned money, and end "too big to fail" to ensure that the failure of any one financial institution would threaten the stability of the global economy.
Read More »Prominent Economists Contend Now Is Not the Time for a Fed Lift-Off
Kaushik Basu, Chief Economist for World Bank, said on Wednesday that the U.S. central bank should delay a rate hike until the global economy stabilizes. Basu said it would have negative consequences if the Fed raises rates now due to economic uncertainty in China and the effect it has on global markets.
Read More »Former Nomura RMBS Traders Charged With Conspiracy and Fraud
According to the indictment, Shapiro, Gramins, and Peters conspired to defraud Nomura customers by fraudulently inflating the purchase price at which Nomura could buy an RBMS bond to induce customers to buy the bond at a higher price.
Read More »Regulators Announce Steps to Reduce Regulatory Burden on Community Banks
The objectives of the initiative to reduce the regulatory burden on community banks are consistent with the feedback the FFIEC has received as part of the regulatory review conducted under the Economic Growth and Regulatory Paperwork Reduction Act (EGPRA) of 1996, according to the FFIEC.
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