Move lawsuit against Zillow clears contempt hurdle with settlement

Move lawsuit against Zillow clears contempt hurdle with settlement

Move declares "full steam ahead" in prosecution

Twitter roundup of this week's top housing articles

CFPB heads up the list

Shaky housing market about to get even shakier

When will we all stop kidding ourselves?
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Items Tagged with 'Bank of America'

ARTICLES

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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Small business optimism rises despite slow in consumer spending

Skilled jobs getting harder to fill
Trey Garrison
Small businesses are optimistic in the face of early 2015 headwinds. Here’s why.
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The U.S. homeownership rate is much worse than you think

They’ve adjusted the measure just like they did unemployment
Trey Garrison
Everyone knows that the homeownership rate is down, but thanks to some adjustments to the way it’s measured, it may be that things are worse than previously suspected.
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From HW Magazine

Big banks, big returns?

Some of the nation's largest financial institutions offer better deals at low risk
The real no-brainer, however, is to look at how the bank performed in the last downturn. Invest in one that not only didn’t need a bailout but one that didn’t take major risks for the sake of short-term versus long-term gains.
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Bank of America cuts 116 North Texas employees

Third cut in February
Brena Swanson
February has been a tough month for Bank of America. This time, job cuts are once again located in North Texas, with 116 layoffs in Addison and Plano.
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Altisource Asset Management names controversial exec new CEO

Former BofA executive was defendant in $9B settlement with FHFA
Ben Lane
Altisource Residential, announced Thursday that George Ellison will be the company’s new CEO. Ellison was a named defendant in a lawsuit brought by the FHFA against Bank of America over claims that the bank sold toxic mortgages to Fannie Mae and Freddie Mac from 2005 to 2007.
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BofA delivers on $7 billion promise to mortgage customers

Extends relief to tens of thousands of homeowners
Brena Swanson
Bank of America completed the biggest settlement to date on Aug. 20, 2014. Now almost six months later, the bank is taking the first steps in fulfilling its mortgage settlement requirements.
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Bank of America slashes another 250 employees

Continues to reduce portfolio of bad loans
Brena Swanson
Bank of America's not done with its layoffs as it continues to scale back its staff to “normal levels.” This marks the third round of cuts in less than six months, as the company announced that it is laying off 250 mortgage and technology workers in Charlotte.
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Judge dismisses Prudential mortgage fraud lawsuit against BofA

Rules that Prudential did not prove BofA lied to ratings agencies
Ben Lane
A federal judge threw out a lawsuit brought by Prudential Financial, which claimed that Bank of America falsely represented the quality of $1.9 billion of pre-crisis residential mortgage-backed securities, leaving Prudential on the hook for “countless” home loans that defaulted.
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Military members to receive $123 million for unlawful foreclosures

Relief is part of National Mortgage Settlement
Ben Lane
According to the U.S. Department of Justice, Bank of America, JPMorgan Chase, Citi, Wells Fargo and GMAC Mortgage will send payments to 952 service members and their co-borrowers for conducting non-judicial foreclosures conducted in violation of the Servicemembers Civil Relief Act.
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