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Journal

HSBC Next to Pay Reparations for Pre-Crisis Conduct

HSBC will be paying a $765-million fine to the Department of Justice, as representative of the United States, over its contributions from the bank that lead up to the 2008 housing and financial crisis. The details of the settlement were ...

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The Favored Option for Vacant Property Security Is …

For anyone who works with vacant property in economically distressed areas—property managers, asset managers, rehabbers, real estate agents—the material used to secure and protect property is a big deal. And according to a recent study, most of these professionals overwhelmingly ...

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Goldman Sachs Moves Forward on Consumer Relief Obligation

Goldman Sachs has reached 62 percent of its $1.8-billion consumer relief obligation, which was enacted under its two April 11, 2016, mortgage-related settlement agreements with the U.S. Department of Justice and three states. Eric D. Green, the independent Monitor of ...

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Gateway Mortgage Group Announces New CEO

Kevin Stitt, chairman and CEO of Gateway Mortgage Group, LLC, one of the largest privately held mortgage origination and servicing companies in the United States, has announced the appointment of Stephen Curry as the new CEO of Gateway. Curry assumed responsibilities ...

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PRMI Expands Leadership, Promotes from Within

Primary Residential Mortgage, Inc. (PRMI) has announced the promotion of four of its executives: Tom George as EVP and Chief Production Officer, Ruth Green as EVP and COO, A.J. Swope as EVP of Secondary Marketing, and Mathew Whitebrook as SVP ...

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Freddie Mac On Track to Single Security

In an effort to provide more liquidity and lower costs for borrowers, Freddie Mac has announced that it will begin issuing new 55-day “mirror” mortgage-backed securities. These securities will be available for the current population of exchange-eligible 45-day Freddie Mac ...

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Wells Fargo Settles Allegations of Fraud for $2.09B

Wells Fargo Bank—a subsidiary of Wells Fargo & Company—has reached a settlement with the United States, as represented by the Department of Justice (DOJ), to the total of $2.09 billion for allegations that the bank originated and sold residential mortgage ...

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Home Prices Remain High, Continue Yearly Growth

Home prices continued their steady year-over-year incline in May, reaching a price growth of 6.4 percent since May 2017, according to the most recent Case-Shiller Home Price Index from CoreLogic. Despite this, hopeful homebuyers still felt a modicum of relief, ...

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