Items Tagged with 'Financial crisis'


Loan officer successfully sued Trump Mortgage, but judgement came too late

Trump admits mortgages "not a business I particularly liked or wanted to be part of”
In the brief 18 months that it existed, Trump Mortgage managed to inspire at least one successful lawsuit against it. A loan officer sued Trump Mortgage in early 2007 after allegedly being stiffed out of a payment of $238,000, but by the time the two sides settled the suit, the company had no assets.
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Equifax: Mortgage defaults projected to keep going down

The ten states with the highest write-offs
The remnants of the financial crisis continue to slowly disappear as the number of foreclosures begin to return to levels witnessed before 2008. This news isn’t universal though as some areas remain elevated. Here's what Amy Crews Cutts, senior vice president and chief economist at Equifax, says is keeping the housing market healthy, along what areas aren't seeing results.
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WaPo: Stop trying to resurrect Fannie and Freddie

Remember the financial crisis?
The call for the recapitalization of Fannie Mae and Freddie Mac now comes from nearly every side despite starting off as a long-shot idea. However, there’s at least one journal publication that adamantly says this Fannie-Freddie resurrection idea needs to die.
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Department of Justice names new head of financial crisis investigations

Bill Baer taking over for departing Stuart Delery
As expected, the Department of Justice named Bill Baer as the replacement for the departing Stuart Delery. As Acting Associate Attorney General, Baer will be the third in command at the Department of Justice and leader of the DOJ’s investigations into the conduct of banks during the financial crisis.
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Leader of Justice Department's financial crisis investigations stepping down

Acting Associate Attorney General Stuart Delery leaving for private sector
Stuart Delery, the third in command at the Department of Justice and leader of the DOJ’s investigations into the conduct of banks during the financial crisis, is stepping down. In his time as the lead of the DOJ’s Civil Division, Delery oversaw massive settlements with several financial institutions for their business practices during the financial crisis, including a $601 million settlement with HSBC.
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Fed's Kashkari: Time to end 'too big to fail'

Former overseer of TARP bailout suggests breaking up big banks
The fundamental shifts in the country’s economic policy in the wake of the economic crisis were not enough to prevent another catastrophic meltdown and more needs to be done to ensure that a future economic downturn doesn’t turn into another crisis, Neel Kashkari, the newly minted President of the Federal Reserve Bank of Minneapolis, said Tuesday.
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Morgan Stanley settles for $3.2 billion over 'deceptive' mortgage bond practices

Internal e-mail: We are running under the radar and do not want to document this
Morgan Stanley will hand out hundreds of millions of dollars in consumer relief and fork over hundreds of millions more to state governments as part of $3.2 billion settlement over its “deceptive” mortgage bond practices in the run-up to the financial crisis, the New York Attorney General’s Office said Thursday.
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