...AIG hopes to secure more than $10 billion from Charlotte, North Carolina-based BofA to recover losses resulting from the alleged non-disclosures. The New York-based insurance company â€" which previously received...
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Regulators Close Down Lenders in Illinois and Washington
...The FDIC says it will retain the remaining assets for later disposition. The federal agency estimates that Bank of Whitman's closing will cost its Deposit Insurance Fund $134.8 million. This...
Read More »BofA to Pursue Loss Mitigation Under HUD Settlement
...still face foreclosure, and BofA will still be able to file insurance claims with the ""Federal Housing Administration"":http://www.fha.com/ (FHA). However, BofA will not make claims on any taxes, liens, or...
Read More »U.S. Sues Founder of MDR Mortgage for Defaulted FHA Loans
...MDR originated more than 90 FHA-insured loans during that timeframe that later defaulted. According to the complaint, HUD was required to pay more than $1.6 million in insurance claims to...
Read More »Recent Study Shows Insurance Lowers Default Risk
A recent study demonstrates that low downpayment loans accompanied by mortgage insurance are less likely to go into default or foreclosure than loans with ""piggyback"" second mortgages, which has been...
Read More »Five Star Institute and Fannie Mae Partner for Short Sale Program
...Agents can access the appropriate forms through multiple listing services (MLS). The SSAD simplifies complex, post-offer issues that arise in regards to servicer responsiveness, second liens, and mortgage insurance. After...
Read More »First American Title Announces Three Key Hires
""First American Title Insurance Company"":http://www.firstam.com has named Kurt Pfotenhauer EVP and vice chairman, responsible for maintaining executive-level relationships with the nation's largest money center banks and assisting with political and...
Read More »Year’s Bank Failures Rise to 61 as Regulators Close Three More
...bank’s assets. No loss-share arrangement was included in the deal. It’s the first Virginia failure this year. The cost to the FDIC's insurance fund is expected to be $17.3 million....
Read More »Chicago Holds Lenders Without Title Accountable for Vacant Homes
...they hold the mortgage, such as making repairs, boarding up entrances and windows, cutting grass, shoveling snow, and removing rubbish. They are also required to maintain the insurance on the...
Read More »Hunt Leibert Jacobson Partner Named 2011 Connecticut Super Lawyer
...department. He concentrates his practice in the areas of commercial litigation where he manages creditor's rights and business litigation matters involving mortgage fraud, title insurance, Truth in Lending, Fair Debt...
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