Fannie, Freddie CEOs get a well-deserved huge boost in pay

5 tips for new renters this summer

Can you afford it?

S&P Case-Shiller: Home price gains slowed in April

Nationally home prices gained 4.2%
W S

Items Tagged with 'TARP'

ARTICLES

SIGTARP snares seven schemers for massive mortgage fraud

Charges include mail fraud, bank fraud, aiding and abetting
Ben Lane
Seven California residents now face federal charges for their roles in an alleged mortgage fraud scheme that defrauded lenders of more than $3 million. According to court documents, the defendants conspired to defraud mortgage lending companies and financial institutions by making false statements on loan applications and short-sale applications.
Read More

ICYMI: Three convicted of $7M loan modification scam

Victims lost homes to foreclosure
Trey Garrison
The three defendants were convicted by a federal jury of offering bogus loan modification programs to thousands of financially distressed homeowners. Here are more ugly details.
Read More

Kentucky man to spend 12 years in prison for insane fraud scheme

Defrauded IRS of $53M, bribed bank execs; didn't stop there
Ben Lane
A Kentucky man will spend the next 12 years in federal prison for leading a spectacularly massive scheme that involved defrauding the Internal Revenue Service of $53 million, bribing senior bank executives, the fraudulent purchase of an insurance company and the defrauding of insurance regulators and an investment bank.
Read More

Mortgage modification scammers bilked homeowners out of millions

California group found guilty of operating nationwide scam
Ben Lane
Three California residents are facing between 60 and 170 years in federal prison after they were convicted of running a nationwide mortgage modification scam that defrauded thousands of distressed homeowners out of millions of dollars.
Read More

Loan officer sent to federal prison for bank fraud

Bank was recipient of TARP funds
Ben Lane
A former loan officer at a Kansas bank, which received funds from the government as part of the Trouble Asset Relief Program, will spend the next six months in federal prison after pleading guilty to one count of bank fraud.
Read More

Ally reports FY14 net income of $1.2B

Fully exited TARP, returns $19.B to Treasury
Trey Garrison
Ally had a good year, with improved profits and a full payback of TARP funds. Here’s what happened.
Read More

$22B in government mortgage relief still left for struggling homeowners

HAMP defaults still running high
Brena Swanson
The Treasury still has plenty of money left to help struggling homeowners, with nearly $22 billion of untapped funding available for the Treasury’s Making Home Affordable program.
Read More

Fraudulent mortgage modifier sent to prison for $4 million scam

Joins three co-conspirators in federal prison
Ben Lane
In exchange for up-front fees ranging from $400 to $2,000, Kelly and his colleagues would send their customers a do-it-yourself application package, which was virtually identical to the application that the government provides free of charge.
Read More

Bank CEO banned for buying condo with TARP money

Used $381,487 to buy himself a condo in Florida
Ben Lane
According to the Federal Reserve Board, former bank CEO Darryl Woods took $381,487.45 of TARP funds to purchase a condo for himself in Fort Meyers, Fla.
Read More

TARP creator: You can't just let all banks fail (even though you want to)

Neel Kashkari, yes Neel Kashkari, is running for California governor
Brena Swanson
The mastermind behind the Troubled Asset Relief Program, Neel Kashkari, is attempting to step into a new role and is running in the 2014 election for California governor. And while there are mixed attitudes about TARP, Kashkari sees it as a sign he can help run the Golden State.
Read More