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
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Items Tagged with 'Bank of America'

ARTICLES

Bank of America urges judge to toss “Hustle” case verdict

Case links to Countrywide mortgages
Brena Swanson
Bank of America asked U.S. District Judge Jed Rakoff in Manhattan to throw out a jury verdict finding it liable for fraud over defective mortgages sold by its Countrywide unit that resulted in a $1.27 billion penalty.
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5 big lenders to help lower military mortgage payments

Obama Administration's new push to help service members
Brena Swanson
In a new effort to help provide home financing to service members, five top lenders commit to the Obama Administration’s new program to help people in the military save hundreds of dollars or more each year.
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BofA settlement consumer relief comes with a price

Tax requirements change true financial benefit
Brena Swanson
Although $7 billion of the Bank of America settlement is going toward consumer relief, those who accept it could face some financial difficulties later due to tax requirements.
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CHART: Biggest bank settlements of all time

Guess which bank is on there twice?
Brena Swanson
The Bank of America settlement went on record as the biggest settlement to date. But where do the other bank settlements rank in comparison?
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It's settled: Principal reduction is smart policy

How the BofA settlement opened the door
Christie Peale

For the first time, loans insured by the Federal Housing Administration will be eligible for principal reduction under the consumer relief menu in a major settlement. 


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Huge tax bill for homeowners who receive BofA settlement?

The relief could be too good to be true
Ben Lane
There could be a huge tax bill coming for borrowers that accept relief as part of the $16.65 billion settlement between Bank of America and the U.S. Department of Justice.
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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”
Ben Lane
"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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FDIC allotted $1.03 billion of BofA settlement

Claim connected to 26 failed banks
Brena Swanson
Included in Bank of America's settlement with the Depart of Justice, the Federal Deposit Insurance Corporation as receiver for 26 failed banks will receive $1.03 billion.
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Florida homeowners get huge chunk of BofA settlement

Nearly 17,000 consumers helped
Brena Swanson
A significant portion of the Bank of America settlement will go toward consumer relief in Florida, helping nearly 17,000 people. Of the $7 billion allotted to consumer relief, $1 billion is going to the Sunshine State.
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BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch
Brena Swanson
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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