Litton Loan Servicing is still having customer problems even after settling a class action lawsuit in April alleging it charged bogus late fees after posting payments that were made on time too late.
Read More »Rise in Toxic Asset Prices May Set Back Government-Funded Purchases
The administration's plan to take toxic assets off banks's balance sheets may be set back by an unexpected Catch-22 ⬠prices of these assets have risen in the past several weeks, partly in anticipation of the government-funded plan, experts say.
Read More »Rise in Twin Cities’ Commercial Foreclosures Indicate Impact of Recession
A sharp increase in commercial foreclosures in Minneapolis-St. Paul, Minnesota shows the growing impact of the recession beyond the highly speculative development in states like California, Texas, and Florida.
Read More »Title Insurer Loses Defense Team in California Class Action Cases
First American Title Insurance, the country's largest in this field, had a California Judge disqualify its defense counsel as it fends off four class action suits in the state.
Read More »Homeowners Forced into Role of Landlord for Houses They Can’t Sell
When Timothy Geithner moved to Washington earlier this year to become Treasury secretary, he put his home in Larchmont, New York on the market for $1.6 million.
Read More »Lehman’s London Unit Sees Claims of $100 Billion Against Bankrupt Parent
Administrators at Lehman Brothers's London office, the largest operation of the failed investment bank outside the United States, will be making claims of as much as $100 billion in the bankruptcy proceedings of the parent bank in New York, according to news reports.
Read More »Stimulus Measures, Bank Capital Top Agenda at G20 Finance Minister Meeting
When and how to unwind emergency stimulus measures and what steps to take to safeguard banks against a future collapse top the agenda of the Group of 20 finance ministers meeting this week to prepare for the Pittsburgh Summit later this month.
Read More »Number of Mortgage Workers Rise in Latest Employment Data
The number of mortgage workers rose in July for the first time in 10 months, while remaining well below year-ago levels, according to the Bureau of Labor statistics.
Read More »Fed Eyes Possible Tapering Off of Housing Debt Purchases
The Federal Reserve may taper off its purchases of agency debt and mortgage-backed securities (MBS) as these programs near completion to ensure a smooth transition in the markets, according to the minutes of the August meeting of the Federal Open Market Committee just released.
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