Senate banking committee passes massive regulatory relief bill

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance

It's official: NYDFS Superintendent Ben Lawsky stepping down

4 years as leader of “long reach” New York financial regulator
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Items Tagged with 'Bank of America'

ARTICLES

Judge dismisses BofA, U.S. Bank mortgage-bond lawsuits

Three suits tossed out
Brena Swanson
U.S. Bank and Bank of America are in the clear after a Manhattan U.S. district judge threw out three suits alleging breaches over mortgage-backed securities.
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Is Bank of America looking to sell LandSafe?

In an industry hungry to buy, the answer is probably 'yes'
Brena Swanson
Bank of America is in talks to sell its appraisal company LandSafe, and the market is hungry to buy it. If you want to add your company to the priority list, you better act fast. The deal is expected to close in the next four to six weeks. And you'll have plenty of competition.
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From HW Magazine

Is the threat of subprime bond lawsuits fading?

Investors may finally get paid
Amy Macintosh
A new target for investors looking to recover RMBS will be the trustees. In addition to the on-going global settlement cases, new lawsuits were issued last year between investors and trustees. This new type of litigation was initiated for investors to recover their losses on RMBS by accusing trustees of negligence and breach of contract.
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BAML hosts 24th annual low-income housing challenge in California

Contest pits colleges against each other in developing biz plans
Trey Garrison
In May, Bank of America/Merrill Lynch is holding its 24th Annual Low Income Housing Challenge in California, challenging students to come up with a business plan to meet the needs of those most in need of affordable housing. Here's why this matters.
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Will unprecedented mortgage lending finally save Detroit?

Bank of America, NACA partner to offer zero-down, below market rate mortgages
Ben Lane
A newly created program, called the “Detroit Neighborhood Initiative,” is based on a partnership between the city of Detroit, the Neighborhood Assistance Corporation of America, the Opportunity Resource Fund and Bank of America, and the program goes to unprecedented lengths to help restore the city to its former glory.
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Here's why force-placed insurance continues to get bad press

Is it time to shut it down?
Lynn Effinger
On the surface of it, most any reasonable person would understand that a mortgage lender has the right to protect its asset if the borrower is not adequately covered by homeowner’s or flood insurance policies. But here's where the controversy comes in.
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Bank of America feeling pretty positive about mortgages

Earnings shows strength in originations
Brena Swanson
After mixed reviews on Bank of America's first-quarter earnings, the lender's mortgage division is holding on strong. Could the bank finally be ready to step up its game in originations?
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Bank of America 1Q net income rises amid stronger mortgage levels

Beats EPS forecasts
Brena Swanson
Bank of America reported first-quarter net income of $3.4 billion after a net loss of $276 million last year. The surge in growth can be attributed to stronger mortgage origination levels.
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Ocwen is no longer the nation's largest subprime mortgage servicer

Impact of exit from agency servicing becoming evident
Ben Lane
The impact of Ocwen Financial’s exit from agency mortgage servicing is beginning to materialize. According to a recent report from Fitch Ratings, Ocwen is no longer the country’s largest prime mortgage servicer. How far have the mighty fallen?
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Supreme Court hears Bank of America case on second mortgages

The rule on second mortgages and bankruptcy
Brena Swanson
In an interesting turn of events, a Bank of America case to decide whether homeowners can erase underwater second mortgages through bankruptcy quickly changed its course, turning into a debate over whether the U.S. Supreme Court should overturn the precedent that raised the issue in the first place.
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