The devil is in the mortgage finance reform details

The devil is in the mortgage finance reform details

On the bumpy road to a common securitization platform

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros
W S
Lending / The Ticker

ResCap mortgage settlement green-lighted

Gavel on desk
/ Print / Reprints /
| Share More
/ Text Size+

Another mortgage settlement took a step closer to completion this week, with bankrupt Residential Capital LLC receiving final approval from a New York bankruptcy judge to proceed with a proposed settlement involving mortgage borrowers associated with the company.

The settlement would reduce an original $1.9 billion claim to $300 million, according to a report published this week.

Per Law360:

U.S. Bankruptcy Judge Martin Glenn signed off on the accord after language was added to the document to placate PNC Bank NA, which worried that the deal could interfere with its rights in a related multidistrict litigation pending in Pennsylvania federal court.

Source: Law360
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus