Aurora Bank is the former loan origination and servicing unit of Lehman Brothers, which entered into bankruptcy back in 2008.

Antoine Gara with TheStreet revealed an interesting back-story to Aurora’s agreement to settle with federal regulators over its foreclosure practices this week. Aurora is among 10 servicers that agreed to settle. The settlement replaced ongoing independent foreclosure reviews.

Gara writes:

It is during Lehman’s multi-year bankruptcy process when Aurora’s improper foreclosure practices appear to have occurred. The Fed and OCC settlement states that the foreclosure review is for actions taken between 2009 and 2010, when Aurora was being managed by the Lehman Brothers estate, restructuring specialist Alvarez & Marsal.

Most Popular Articles

FHA loan limits increasing for almost all of U.S. in 2020

Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020.

Dec 05, 2019 By

Latest Articles

When it comes to their home, Millennials are picky

According to a new data set from the National Association of Home Builders, Millennials care just as much (if not more) about they want in a house rather than what they need.

Dec 05, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please