TRID is a real obstacle to mortgage process

Fed adopts new rule limiting 'too big to fail' bailouts

New emergency lending policy targets 'broad-based' issues, not specific firms

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Items Tagged with 'Settlement'


Bank of America nearing halfway mark in $7 billion consumer relief effort

Payment part of $16.65 billion settlement over toxic mortgages
Bank of America is approaching the halfway point in delivering on its $7 billion promise of consumer relief required as part of its $16.65 billion settlement with the U.S. Department of Justice and others to resolve claims over toxic residential mortgage-backed securities, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac.
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Associated Bank settles with HUD over discriminatory lending

Bank will fund $200 million in mortgage loans for minority neighborhoods
Wisconsin-based Associated Bank will provide approximately $200 million in mortgage loans for borrowers in minority neighborhoods as part of a settlement with the U.S. Department of Housing and Urban Development over charges of discriminatory lending.
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JPMorgan to face $10B MBS case

Bank hit with class action lawsuit
JPMorgan Chase must face a class action lawsuit by investors who claimed the bank misled them about the safety of $10 billion of mortgage-backed securities it sold before the financial crisis.
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WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

Kovacevich says fine is political and has “nothing to do with justice”
"Why are we charging the stock holders instead of going after the people who did wrong?” former Wells Fargo CEO Dick Kovacevich said. “Corporations don't engage in criminal behavior. They don't take advantage of innocent people. People do.”
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BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch
The rumors from yesterday are now confirmed. “Bank of America knew that such wholesale channel loans – described internally as “toxic waste” – presented vastly greater risks of severe delinquencies, early defaults, underwriting defects, and prepayment," according to the SEC filing on the settlement.
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